The role of a grants manager is vital in ensuring that funds are effectively secured, utilised, and accounted for. Charities, non-profits and research organisations all rely on these mission-critical individuals.
This article delves into the responsibilities of a grants manager, the importance of their effectiveness, and how tools such as grant management software can make their lives easier.
Key Grant Manager Responsibilities
Grants managers oversee nearly every critical process involved in allocating and distributing funds. They play a central role in overseeing the entire grant management process, from the application stage through to the final reporting and compliance checks.
They also act as an intermediary between the funding organisation and grantees, ensuring that all aspects of the grant are handled efficiently and in accordance with both the funder’s requirements and the organisation’s goals.
Submission Oversight
Grant managers collaborate with internal stakeholders to develop criteria for grant proposals. This includes establishing guidelines for proposal writing and ensuring that submissions align with the funding organisation’s objectives and compliance requirements.
The grant manager is also responsible for overseeing the submission process, ensuring that proposals are submitted on time and meet all necessary requirements. They may also need to conduct due diligence checks on grantees.
Budgeting and Financial Oversight
A critical aspect of the grant manager’s role is to develop and review detailed budgets for how funds will be allocated. They work closely with the finance team to ensure that budgets meet funder expectations and reflect their financial policies. After grants are awarded, they schedule fund distribution and monitor expenditures, ensuring compliance with budgetary constraints and other guidelines.
Compliance and Reporting
Ensuring compliance with the funder’s requirements – as well as relevant regulations – is crucial for maintaining grant integrity.
The grants manager is responsible for developing compliance protocols and ensuring that all funded activities adhere to the terms and conditions set by the funding organisation.
They also oversee the preparation and submission of regular reports that detail the progress of funded projects, the use of funds, and any challenges encountered.
Monitoring and Evaluation
Throughout the lifecycle of funded projects, the grant manager monitors the project’s progress to ensure that objectives are being met. This involves regular communication with project teams, reviewing milestones, and addressing any issues that may arise.
They also evaluate the overall impact of projects and document lessons learned, which can inform future funding strategies and grant management practices.
Relationship Management
Maintaining positive relationships with grantees and other stakeholders is key. This involves regular, proactive communication and responding to inquiries promptly. The grant manager also seeks to build long-term partnerships with grantees, enhancing the potential for future projects.
Conducting Analytics
Grant managers use analytics for various purpose. It can help assess the efficiency of the grants process itself, using KPIs such as application processing time, percentage of grants awarded within a target timeframe, and the administrative costs per grant programme.
Analytics also helps in measuring the impact of funded projects. The KPIs depend on the details of each project but as an example, grant managers may look at key community indicators such as unemployment rates, poverty levels, and so on.
Higher level metrics include grantee satisfaction scores, the percentage of grantees meeting their objectives, and the number of individuals impacted by the project.
Why is Effective Grant Management Important?
To execute the grantmaking process effectively can mean the difference between the success and failure of a project, especially in sectors where funding is highly competitive and resources are limited.
Ensuring clarity about grants administration policies and procedures enables better communication and collaboration amongst stakeholders, enhancing overall project delivery. This clarity is supported by systems that standardise processes.
Grant managers also mitigate risks such as the potential for financial mismanagement or non-compliance. Their oversight of the entire grant lifecycle provides a safeguard against common pitfalls that could jeopardise the organisation’s reputation and future funding opportunities.
Effective grant management also enables stronger relationships with grantees, which can lead to increased trust, higher rates of successful project completion, and brighter prospects for future collaboration.
How the Best Grant Tracking Software Enhances the Role of Grant Managers
Grant management software is essential for organisations that manage multiple programmes simultaneously. It streamlines administrative processes and allows grant managers to keep track of deadlines, submission requirements, reporting schedules, and financial disbursements. It also centralises all grants information in one platform, giving all authorised staff access to the most up-to-date information at all times.
Streamlines Administrative Tasks
One survey revealed that grantors spend an average of 10.3% of their budgets on admin; for grantees, it’s 9.3%. Spending was highest in organisations operating on a larger scale, suggesting that they were not making use of efficiencies of scale.
Respondents expressed dissatisfaction with their IT systems, and some grantees said they would prefer to use systems provide by grantors.
The best grant tracking software not only serves both grants and grantees, but it also offers various features that boost efficiency, such as reminders, reusable templates for applications and emails, and integration with other financial and project management systems.
This helps to reduce the administrative burden on grant managers, allowing them to focus more on strategic tasks such as relationship building and proposal development.
Application Management
Many tools are available to assist with the pre-award stage. For example, Flexigrant has reusable application templates, eliminating the need for staff to duplicate their efforts for each new scheme. There’s also a shortlisting tool, making it easy to keep track of which applications will progress to the review stage.
Document Management
Document management capabilities enable grant managers to store and organise all relevant files, such as application forms, reports, and contracts, in a secure and accessible manner.
Financial Management Tools
Grant management software includes financial tools that enable grant managers to track budgets, expenses, and payments. These features ensure that funds are allocated and used correctly, while providing valuable insights into the financial performance of grant programmes.
Integrating grant tracking solutions with accounting software can streamline financial reporting and reduce the risk of errors or discrepancies.
Automated Data Collection and Analysis
One of the most significant advantages of grant management software is its ability to collect data. For example, Flexigrant automatically captures certain information from application form fields, and Flexigrant Insights provides insights into hidden trends that can support strategic decisions.
International Grant Management
Organisations managing grants internationally have to handle complexities such as differing regulatory requirements and currency exchange issues. Advanced grant management software has the capability to manage payments in various currencies, as well as assist in complying with overseas regulations.
Conclusion
Grant manager responsibilities span across the grant lifecycle, from selecting acceptance criteria to managing submissions; from tracking expenditures to assessing impact.
Carrying out all of those tasks without a robust software solution is inefficient. There may also be too much variation in the process, as software provides standardisation.
Grant management software streamlines the admin involved and provides helpful tools for the pre-award, award, and post-award stages. Grant managers can then turn their attention to activities that bring greater value, such as relationship building and analytics.
Flexigrant is built upon many decades of grant making expertise, and hundreds of leading foundations are using it to further their missions. To learn more about how it can help your organisation – or to request a demo – contact us today.
