Seven ways an automated solution can improve your grant management
Now, more than ever, it is critical that businesses get the funding they need. Do you have the right processes in place to manage your COVID-19 crisis funding?
Carefully evaluating your grant management process to ensure that is simple, efficient and streamlined is always the first step. Once that’s complete, moving your paper process—or even a partially online process—to an automated digital grant management solution can help save significant administrative time and costs.
The benefits of automating your process are clear, but what about the upfront cost and investment? How can you get the buy-in from your management and team? Whether you’re in the early stages of researching a solution, or need to convince others on your team, here are the top benefits of improving your grant management process with an automated solution.
#1 – It’s easier to use
Nothing is more cumbersome (and unprofessional) than outdated forms that people need to download, complete, and scan, then email or mail to return. When the process to apply is too difficult, potential grantees may postpone applying or, even worse, rethink their decision.
#2 – Saves everyone time
By offering your constituents an easy-to-use self-service portal, you can quickly provide prospective grantees with the right self-service tools to apply for, check the status of, and receive funding in real-time. And when you don’t have to worry about manually tracking countless small interactions or regularly troubleshooting human error, you can concentrate on the high-level priorities that will fuel your success.
#3 – Improves communication
With a digital application and portal, your entire grants review process can live online. Reviewers and administrators can access the system anytime and anywhere in a self-service fashion. No more emailing back-and-forth, long support calls, and searching for application data and case information.
#4 – Reduces unnecessary costs
Improving the administrative procedures you use to receive grant applications, track and compile data, review applications, and manage communications results in real cost savings in the form of administrative time. Digitizing your grants application process also saves on paper, printing, and postage. Cloud-based storage reduces the need for physical storage and makes files easily available to everyone. You can search documents immediately, from anywhere, anytime.
You can also easily and quickly update grant applicants throughout the process. Automated communication eliminates time spent manually providing status updates for every application, and allows applicants to feel informed and in the loop.
#5 – Improves security
By leveraging a digital grant management solution built on a central cloud platform such as Microsoft Azure, you’re taking advantage of all the security benefits of a company that you know and trust, as well as a high-level of encryption to keep application information safe.
#6 – Minimizes error
There are many points in the grants application process when something could go wrong- whether it be an incorrect delivery address or postage, an email that goes to spam, missing form data, typos, or worse. By keeping your application process online, you’re reducing opportunities for error by keeping information safely, centrally stored and easily accessible.
#7 – Improves reporting
By integrating directly with your existing ERP or CRM system, you can easily pull and share information, and build dashboards and reports that can be used to improve your program’s performance over time.
Whether you are issuing or receiving grant funding due to COVID-19, we can help. Our Microsoft Dynamics-based grant management solution allows you to better serve your constituents with an easy-to-use self-service portal that integrates directly with your ERP or CRM system. With rapid, remote deployment on Microsoft Dynamics CRM, our solution enables you to quickly provide prospective grantees with the right self-service tools to apply for, check the status of, and receive funding in real-time.