Does your company have to handle, monitor, and record several grants on a daily basis in order to maintain its nonprofit status? Do you find it challenging to remember every deadline, standard, and legal obligation that goes along with each grant? The grant tracker software from GivingData could hold the answer. An essential tool for anybody looking to give and receive grants is grant tracker software. The efficiency of an organization’s grant-making operations relies on its capacity to promptly review and process grant applications as well as keep track of the progress of ongoing grants. A grant-making organization may locate suitable candidates for its programs more quickly and accurately by using this sort of software. In this post, we’ll discuss some of the most important advantages grant tracker software offers to funders and applicants alike.
What Purposes Do Tools for Grant Tracking Serve?
Grant providers and grant applicants may manage grant requests, track grant applications, keep track of grant progress, evaluate award performance indicators, and execute other grant-related tasks using grant tracker software, a kind of grant management system. The software typically consists of an online platform with user-friendly dashboards and reporting tools, grant tracking systems that enable grantmakers and grant seekers to monitor the status of grants, grant management tools that assist grantmakers in keeping track of grant applications and review results, as well as other features.
Grant Management and Writing Made Simple: The Advantages of Grant Tracking Software
It could take a long time to create and maintain grant applications. Nonprofit organizations often find that in order to keep track of both the applications they are developing and the ones they are monitoring, they need two or more different kinds of software. However, grant tracking software may automate many of these steps, making it much simpler for grantmakers to navigate the grant-writing process. Thanks to grant tracker software, which provides details like how much of the budgeted funds have been used and where they have been spent, grantmakers can maintain track of previous donations.
Grant management software may assist award winners in maintaining their post-grant commitments. To accomplish this, project deadlines, milestones, and other compliance requirements are kept in a prominent, central area. Grant applicants should make use of this opportunity to make sure that their progress toward receiving a grant is in line with the requirements and expectations for the award. Additionally, when deadlines or milestones draw near, grant trackers may send out automated reminders and updates on the status of an applicant’s application.
Businesses may maintain a higher level of efficiency and organization with the use of grant monitoring software, which helps with better grant administration. Anyone with access to the program will be able to review the applications and instantly inform the people who submitted them of any changes or adjustments. Depending on whether they have been accepted, are awaiting approval, or have already been rejected, they may be separated into different files throughout the inspection process.
Reduce the Amount of Money That Has Been Misspent
One of the many benefits of using grant tracking software is that it offers grantmakers and grantees a comprehensive tracking mechanism. Grant trackers encourage grant recipients to report often on how and where they use the funds they have been allocated. Both the grant-maker and the beneficiary can monitor the money’s movements and make sure it is used appropriately if they both pay careful attention.
Grant trackers may help grantmakers find possible beneficiaries of their funding. Because of this, grant-making organizations may distribute award money while making sure that the most worthy beneficiaries get it.
For charitable organizations and donors looking to increase the amount of grant money available, this is a big advantage. Making a name for oneself as a dependable, personable, and well-organized grantmaker is the greatest way to attract more funding. Grant tracking software is essential for this.
Donors may follow the development of their own initiatives and know where their contributions are going, thanks to GivingData’s gift-tracking platform. To do this, comprehensive grant reports that monitor both operational and financial success are given.
Keep an Eye on Things
By providing a central site where they can follow the status of all grant applications, grant trackers assist grantmakers and applicants in keeping track of the progress of grant applications. Applicants may simply follow the progress of each grant application, knowing which ones have been fully filed and which ones still need evaluation, by utilizing grant tracking software. GivingData offers applicants grant tracker software, which archives applications as they are worked on so they may be retrieved afterward. For applicants, this is an additional benefit.
Use the Tools at Your Disposal
GivingData’s donation tracker software gives grant recipients reporting features, making it simple for them to keep track of contributions and the expenses related to them. This enables those who give grants to know right away how much money has been set aside for each award and to monitor the development of the activities that their funding has supported. The grantee may also provide progress updates to show how the project is going. The fact that the grantmaker and the donor may see these reports promotes openness and enhances collaboration.
Increase Your Productivity
The handling of grant procedures will go more quickly if your team uses grant tracking software. Real-time award tracking benefits both grantmakers and grantees because it keeps everyone on top of grant operations and keeps everyone organized. With the use of grant trackers, organizations may exchange award information more easily with outside donors or other grant partners, assisting grantmakers in maintaining efficient grant procedures.
Keep In Touch With Applicants and Donors
One advantage will be improved communication between grantmakers and applicants. Grant givers now have access to a secure platform that enables them to efficiently connect with grant applicants via private messages and updates as a result of the implementation of award trackers. It may be helpful for candidates to be informed about both the state of their application and the most recent adjustments to the award criteria. Foundations and other organizations may give comments and assistance much more quickly as grant seekers refine their grant submissions.
Build Credible Bonds With Your Grantees and Donors
Grant trackers are essential for managing and developing grants. This is due to the possibility that grant software may aid funders in streamlining their grant administration and reporting procedures and promoting confidence among grant candidates, funders, grantees, and grantmakers. Grant trackers also make it simpler to verify that grantmakers and applicants are communicating properly with one another.
Use GivingData’s Software Right Now!
Both grantmakers and grant applicants should utilize grant tracking software. Grantees may benefit from having access to monitoring reporting tools, keeping grant procedures organized, communicating directly with applicants, and fostering trust among all parties engaged in the grant’s life cycle. All of these advantages are available to you when you utilize GivingData’s grant tracker software in a single, user-friendly platform, enabling you to get more out of each and every grant application procedure. If your nonprofit organization wants to improve efficiency, improve communication, and eventually garner more financial support from foundations and prospective donors, it probably has to invest in this sort of software. Use GivingData’s gift tracking tool right now by clicking here. Don’t wait any longer.