Ten Ways That Grant Tracking Software Can Help Organizations Like Yours

Does your organization's nonprofit status require that various grants be maintained, monitored, and recorded on a daily basis? Do you find it challenging to keep track of all of the deadlines, milestones, and compliance requirements that are involved with each grant? It's possible that the solution lies in the grant tracking software provided by GivingData. The use of grant tracker software has evolved to become an essential resource for both those seeking grants and those providing them. Organizations are able to make the most of their grant-making efforts if they have access to the appropriate grant tracking system, which enables them to streamline the process of researching and processing grant applications and monitor the progress being made on grants that are already in the pipeline. This sort of software may also assist grant-giving organizations in more accurately and efficiently identifying prospective candidates for their programs. In this article, we will discuss some of the most important advantages that grant tracker software offers not only to those who are looking for grants but also to those who provide grants.

What Exactly Is Software for Tracking Grants?

The software known as grant tracker is a kind of grant management system that gives grant providers and grant applicants the ability to track grant applications, process grant requests, monitor grant progress, evaluate grant performance statistics, and do a variety of other grant-related tasks. The software typically consists of an online platform that provides user-friendly dashboards and reporting tools, grant tracking systems that enable grantmakers and grant seekers to monitor the progress of grants, grant management tools that assist grantmakers in keeping track of grant applications and review results, and other features.

The Advantages of Using Grant Tracking Software

Simplify the Writing of Grants and Monitoring of Grants

The process of preparing grant applications and keeping track of them may be time-consuming and difficult. While trying to keep track of the apps they are creating as well as the ones they are monitoring; nonprofit organizations often find that they need two or more distinct kinds of software. On the other hand, grant tracker software may automate a significant number of these activities, making it much simpler for grantmakers to traverse the process of grant writing. Grantmakers are able to maintain track of awards that have previously been given thanks to software called grant tracker, which provides information such as how much of the available funds have been used and where it has been spent.

Improve One's Ability to Satisfy the Demands of Funders

Applicants for grants may use grant monitoring software to aid them in keeping on top of grant requirements. This is accomplished by documenting project milestones, deadlines, and other compliance criteria in a single spot that is easily accessible. This gives grant applicants the opportunity to verify that the progress they have made toward obtaining a grant is in line with the requirements and expectations associated with the award. In addition, grant trackers have the capability of sending automated reminders when grant deadlines or milestones are drawing near, as well as updates on where an applicant's application is in the process.

Raise Your Levels of Productivity

The use of grant tracking software enables firms to maintain a higher level of organization and achieve higher levels of productivity, both of which contribute to improved grant administration. Everyone who has access to the software will be able to evaluate the applications and communicate any changes or updates to those who have submitted them in real-time. Throughout the process of having them evaluated, they may be sorted into different folders depending on whether they have been denied, are currently active, or have been closed.

Decrease the Number of Misused Funds

The provision of grantees and grantmakers with an all-encompassing tracking system is one of the many benefits that may be gained by using grant tracking software. Grant trackers urge grantees to periodically report how and where they spend the money that they have been awarded. Both the person who is giving the grant and the person who is receiving it will be able to keep track of where the money goes and make sure it is put to good use if they check this attentively.

In addition, grant trackers may assist grantmakers in locating prospective applicants who have a chance of being awarded financial support from a grant. This enables grant-giving organizations to distribute their grant monies, ensuring that the funds are awarded to eligible applicants who will make the best possible use of the grant money.

Improved Communication Between Donors and Those Who Provide Grants

This is a significant advantage for charitable organizations and donors who are looking to increase the number of grant funds they provide. Being a grantmaker who is reliable, communicative, and well-organized is the most effective approach to getting more cash. In order to do this, grant tracking software is an absolute need.

The gift tracker software provided by GivingData gives donors the ability to monitor where their money is going and get regular information about the development of their own initiatives. This is achieved via the creation of detailed grant reports, which monitor both financial and operational success.

Maintain a Record of the Application's Current Status

Grant trackers enable grantmakers and applicants to remain current on the status of grant applications by providing a single site from which they can monitor the status of all grant applications. Applicants may quickly see the progress of each grant application using grant tracking software, which enables them to know which applications still need to be examined and which ones have been submitted in their entirety. The grant tracker software that GivingData provides to applicants stores applications as they are being worked on so that they may be returned at a later time. This is an additional benefit for applicants.

Access to Analytical and Reporting Resources

Grantees have access to reporting capabilities via the grant tracker software provided by GivingData, which enables them to conveniently monitor gifts and the expenses that are linked with them. This enables those who make grants to immediately establish how much money has been set aside for each award, and it also enables them to monitor the progress that has been made on projects that were sponsored by grants. Also, the grantee has the opportunity to post progress reports in order to demonstrate how the project is moving along. These reports are made available to the grantmaker as well as the donor, which promotes openness and improves communication.

Increased Productivity in the Procedures Used to Track Grants

Your team will be able to manage grant procedures in less time if they make use of software designed specifically for grant tracking. Both grantmakers and grantees benefit from the opportunity to monitor the current status of their grants in real time since it helps them keep organized and on top of their grant operations. In addition, grant trackers make it simple for organizations to communicate award data with external funders or grant partners, which enables grantmakers to maintain an efficient flow of grant procedures.

Communicate Face-to-Face with the Candidates

One of the advantages is that applicants and grantmakers will be able to communicate more effectively with one another. Grant providers now have access to a safe platform that enables them to successfully engage with grant applicants via the use of private messages and updates, thanks to the implementation of grant trackers. This may assist applicants in keeping up with the most recent modifications that have been made to the grant criteria and in determining where their application is in the process. Applicants for grants may also get comments and assistance from foundations and other organizations much more quickly while they are working on their grant proposals.

Establish Trust With Both Your Donors and Your Recipients of Grants

The process of creating grants and managing grants requires the use of grant trackers. This is due to the fact that grant software may assist grantmakers in streamlining grant administration and reporting procedures, which in turn helps applicants, donors, grantees, and grantmakers build confidence in one another when it comes to the giving of cash. Also, grant trackers make it simpler to guarantee that applicants and grantmakers are sharing accurate information with one another.

Get Started With GivingData's Ready-to-Be-Used Software Today!

The use of grant tracking software is a significant tool for both those who provide grants and those who look for grants. It may assist grantees in maintaining track of the progress their applications are making, accessing reporting tools to monitor grants, remaining organized with grant procedures, interacting directly with applicants, and establishing trust amongst all parties involved in the life cycle of a grant. When you utilize the grant tracker software provided by GivingData, you will have all of these advantages at your disposal in a single, simple-to-navigate platform that enables you to get more out of each and every grant application process. It's possible that making an investment in this kind of software is exactly what your nonprofit organization needs to boost productivity, simplify communication, and eventually attract more financial support from prospective donors and foundations. Don't put it off any longer; just click here to begin using the grant tracker software provided by GivingData right now!