Most organizations use a type of grant application software to receive applications for grants or scholarships, then compare them until they evaluate who the recipients will be for this round of funding. However, it would be a mistake to think that once all the applications have been evaluated and you’ve chosen who receives funding this year, you can retire your grant management software.
Here are a few ways that the right software can help communicate with recipients even after funding is distributed.
Upload and Manage Funding Reports
Most grants require periodic funding reports from recipients, either part of the way through the grant period or before the end. This requirement is in place to make sure that applicants don’t misuse the funding that they receive. However, submitting the reports can be difficult to remember for recipients, and difficult to track for grant donors. A good portal allows you to manage follow-up materials.
Invoice and Payment Tracking
Paying out the grant or scholarship a recipient wins is a hefty responsibility. It is easy for payments to get lost, invoices to get sent to the wrong place, and for recipients to be faced with unnecessary delays when receiving the funding they need to do their work.
A good grant management software contains integrated payment and invoicing systems to make the most crucial part of the process, paying out the grant, much easier.
These tools can help with administering grants even after the application process is over.
