Implementing a new system often comes with upfront costs that can make organisations hesitant to take the plunge – but the long-term impact of grant management software makes it a worthwhile investment.
This article focuses on how Flexigrant delivers long-term value by enhancing productivity, improving grant success rates, supporting better decision-making, and providing scalability for future growth.
Initial Investment vs. Long-Term Savings
Every investment starts with a cost and implementing grant management software is no different. Costs can include:
- Licensing fees: With most providers, these vary based on the scale of use /number of users.
- Training and onboarding: Staff need to be trained to maximise the potential of the software. (Our grant management community brings added value – on top of formal training).
- Setup and configuration: Customising the software to meet the specific needs of your organisation.
Of course, it’s essential to view these costs in light of the long-term benefits we’ll now discuss, which quickly offset the initial investment.
How Flexigrant Delivers Value
Efficiency Gains
One of the primary ways our grant management system delivers value is through efficiency improvements. Manual funding management processes are labour-intensive, repetitive, and prone to human error. From creating and processing applications to tracking multiple deadlines, these tasks often consume a considerable amount of time.
Flexigrant streamlines the tasks involved, reducing admin and allowing staff to focus on higher-value activities like building relationships with grant makers and improving programme outcomes.
Overcoming Repetition
Our cloud grant management software offers many features for streamlining repetitive tasks, including:
- An intuitive application form builder with a reusable question bank
- Automated offer letter generation
- Customisable email templates
- Standardised CV form configurations that prevent applicants from having to re-enter their CV with every application.
Streamlined Workflows
Our grant management platform enhances workflow efficiency through:
- A shortlisting tool for quick application review
- Finance and payment management tools for easier managing and distributing funds.
- A reviewer dashboard for streamlined application assessment
- Committee meeting and workspace features, allowing multiple committee/panel members to collaborate on funding decisions and share application forms and associated reviews.
- Integrations and APIs to connect with other software systems
- Reporting capabilities, generating reports directly from stored data to ensure accuracy and compliance. It also has bulk scheduling options.
Simplified Communication
Flexigrant facilitates straightforward communication by providing making it easy to contact applicants and other stakeholders from one centralised platform.
Error Reduction
Errors in the grantmaking process can lead to penalties, lost funding opportunities, and wasted time. Flexigrant helps mitigate these risks by standardising processes and maintaining accurate records throughout the grant lifecycle.
Improved Grant Success Rates
Competition for grant funding is often fierce, and missed deadlines or incomplete applications can derail even the most promising proposals. Flexigrant provides tools that streamline the application process and enhance the likelihood of successful grant outcomes. Here’s how.
Centralised Application Management
Grant applications often require collaboration between various departments, from finance to programme management. Our software provides a centralised platform where all relevant documents, communications, and updates can be easily accessed by authorised staff. This reduces the chance of miscommunication or missing information, resulting in more complete and refined applications.
Better Decision Making
Data-driven decision making is critical to the success of any organisation today. As such, the best grant tracking software includes robust analytics and reporting tools that provide organisations with the data they need to make better decisions.
Grant Performance Tracking
Our software tracks the performance of all active grants, providing detailed reports on expenditures, programme outcomes, and compliance. This information allows organisations to assess the ongoing effectiveness of their programmes and make timely adjustments.
Impact Measurement
Funders increasingly require organisations to demonstrate the impact of their programmes. Flexigrant includes tools that track programme outcomes, making it easier to report on the effectiveness of initiatives – and this improves relationships among stakeholders and increases the likelihood of securing future grants.
EDI Monitoring
Flexigrant also supports Equity, Diversity, and Inclusion initiatives by capturing anonymous EDI data in a secure manner that’s aligned with GDPR standards. This enables the analysis of Flexigrant user demographics and the tracking of targets relating to EDI.
Scalability for Future Growth
As organisations grow, their grant management needs become more complex. What starts as a handful of applications can quickly developed into a fully-fledged grant portfolio, requiring sophisticated management tools.
Online grant management software must be able to scale to meet these growing needs. Thankfully, Flexigrant is designed with scalability in mind, making it an ideal solution for organisations with growth ambitions. Here’s how it supports such plans:
- Increased grant activity: As our software is cloud based, it scales easily, allowing organisations to manage more grants without the need for additional staff or costly infrastructure upgrades, delivering long-term cost-effectiveness.
- Customisation: Organisations’ needs change as they grow, which is why Flexigrant can be tailored to meet specific requirements, ensuring that it continues to deliver value for the long haul.
Conclusion
The initial investment in grant management software may seem high but the long-term ROI is undeniable. From cost savings and increased productivity to higher grant success rates and better decision-making, Flexigrant delivers value that far exceeds its initial cost. And its scalability ensures that it will continue to provide long-term benefits as organisations grow.
To learn more about how we can help you achieve long-term success, contact us today to request a demo – or about any other enquiries.
