A robust system of grant management remains a critical aspect of virtually all public charities today. With the current fast pace of changes in the structure of the nonprofit sector, the use of DAFs recorded an increase of 9 percent to $52.16 billion, the highest grant funding ever. A GMS automates the process of a grant's life cycle in such a way that it elicits transparency with efficiency in harnessing and spending resources. But where do you start and what do you need to do in order to find the right system when so many are out there?
What Is a Grants Management System?
A GMS is software designed to handle the complete grant process, beginning with the submission of applications through the award process and reporting. For a public charity, it is a key system that can handle everything from grant proposal tracking to automating complex reporting requirements.
A GMS normally will provide the following functionalities:
- Application Management: Streamlines the application process to allow submission processes and reviews. Similar to the concept whereby most general GMS solutions, for example, allow an applicant to fill out all the necessary requisites of a form online, attach the documentary requirements, and then track the status of their submission in near real-time.
- Reporting Tools: Supports automation of compliance and financial reports. A common function might be the presentation of quarterly financial reports automatically formatted to meet specific grantor requirements.
- Communication Platforms: Facilitates direct interaction between grant seekers and funders. For instance, there are systems with integrated messaging tools to help users communicate directly with the applicants within the platform, thus reducing back-and-forth emailing.
- Financial Tracking: Monitors budgets, payments, and financial reports. An example would be a feature that links grant disbursements to specific project milestones, providing a clear audit trail.
The Challenges When Choosing a Grants Management System
Public charities have some considerations they have to keep in mind to ensure they identify and select the right grants management system:
- Budget Constraints: Nonprofits usually run on a shoestring budget, so it is important to find a solution within reasonable pockets without compromising considerably on some important features.
- Scaling: An efficient GMS needs to be able to handle scaling across your business growth rate in relation to the ability to increase application numbers, budgets, and reporting requirements in complexity.
- User-Friendliness: A GMS should be intuitively graspable, so that users of varying technology maturity are able to handle it smoothly. This is particularly important, especially when it comes to the organization having slight IT resources.
- Integration Capabilities: The system should be capable of allowing integration with the data across the existing software systems, such as financial and other related systems, respectively. This is important for ensuring an uninterrupted flow of data across different platforms.
- Customization: Charities are always different, and one size almost never fits all. Seek a system where customization can be added in a way that best suits your specific process.
How to Choose a Grants Management System
While selecting the right GMS, there is a need to keep an eye on the specific challenges in your organization. The following is a step-in guide to help you in making your decision to choose the right GMS:
- Analyze Your Needs: Start by identifying what, exactly, are your organization's pain points when it comes to managing grants. Having issues with reporting, having a need for better application tracking—your problems will shape what to search for.
- Investigate the Choices and Compare: Seek out reviews, case studies, and testimonials of other public charities about how each does under real-world conditions.
- Request a Demo: Many GMS providers are willing to offer demos for their systems. Use this opportunity to see the software in action and to ask questions about features, support, and customization.
- Assess Support and Training: Even the best system can be difficult to implement. Make sure that the provider will supply the necessary quantity of training and support to help your team transition smoothly.
- Consider Future Needs: Choose a system that will meet your needs right now and in the future, with the flexibility to grow with you.
- Budget Wisely: Always balance cost with functionality. Remember, being the cheapest isn't always cheapest in the long run when those features one needs are missing.
Why Fluxx Is the Choice
Fluxx is the leading grant management system for public charities; its flexible, powerful feature set is delivered in a platform that is easy and intuitive to use and apply to organizations of any size.
Benefits of Fluxx:
- Customizable Workflows: Configure the system to emulate organizational processes for maximum efficiency and consistency. For example, with Fluxx, you can establish an automated approval process that mirrors your different review stages.
- Scalability: Fluxx is designed to work on the management of a few grants or hundreds. Should your charity double its intake of grants next year, Fluxx can handle this while scaling gracefully without asking you for additional infrastructure.
- User-Friendly Interface: Fluxx's interface is user-friendly and self-explanatory, designed with non-tech-savvy users in mind. It could be implemented right off the bat, to the point where even the least tech-savvy staff could effortlessly track grant status on the dashboard.
- Robust Reporting Tools: Create comprehensive reports through the clicks of a few buttons to maintain compliance and transparency. For example, you can create summary expenditure reports linking expenditures to similar projects by different funders' requirements.
- Exceptional Support: Fluxx offers ongoing support and training to ensure you work well and get the most from this system. They have a dedicated support service team known to respond quickly to issues and provide solutions that keep your system running smoothly.
Public charities using Fluxx will be able to automate their grant management to keep their sights on their mission rather than the paperwork.
Making the Right Choice for Your Organization
Selecting the right grant management system is among the most important decisions a public charity can make. Thoughtfully choosing the right system that is really needed by the organization, coupled with those features offered in potential systems, places within reach a solution that will truly help achieve one's mission and goals.
Ready to see how Fluxx can totally change the way you think about grant management? Request your meeting today and see it firsthand.
