Overview of Considerations for Selecting a Post Award Grant Management Software

Grant management does not stop after the grant is awarded. For this reason, post-award management of funds is complex and a very critical stage that needs efficient reporting, compliance tracking, and tight data management. Choosing the right post-award grant management software will be instrumental in helping organizations achieve these goals and deliver maximum impact while upholding stakeholder expectations. This guide examines the key considerations necessary in the selection of a software solution that aligns with every organizational aim, compliance need, and flow of operation.

Overview: Post-Award Grant Management

Post-award grant management involves the processes, activities, and requirements that an organization must fulfill when it receives an award. The act of securing funding is crucial, but effective post-award management will ensure that funding has the intended impact and meets both organizational and funder goals. Activities included in this phase entail observation of progress made on projects, compliance with funding terms or conditions, budget management, and outcome tracking. Through systematic reporting and data collection, an organization can easily communicate to stakeholders the impact of the grant, therefore making the funding process easy and maximizing future grant applications.

Considerations for Post-Award Grant Management

Selecting a post-award grant management software is a multi-dimensional decision. A fitting solution would not only serve compliance and reporting but also raise the general workflow efficiency with data integrity. The following are to be considered major points for any organization while choosing between a post-award grant management platform.

Compliance and Reporting Capabilities

Some of the most resource-heavy areas of post-award grant management are compliance, especially where an organization has to deal with a large number of funders or the use of federal monies that are very heavily regulated. A good grant post-award software should have the capabilities to:

• Automate Compliance Tracking: Provide a solution that, through engagement, can automatically track compliance requirements based on various funding sources.
• Smoothen Reporting: The reporting to funders, stakeholders, and regulatory agencies is very time-consuming. Find software that allows one to create customized reporting templates and automated data collection, which insures reporting seamless.
• Real-Time Data Access: Real-time access to data ensures that compliance will remain overt and manageable without costly mistakes.

Example: A state agency administering grants for public health programs can automate reporting with the federal agencies by using templates tracking key metrics that would automatically alert staff if data was missing that was needed for compliance.

Integration of Existing Systems

This can be frustrating and often not very effective for grant managers to have to jump around in different software platforms and systems. Knowing a new post-award management solution can integrate with core systems, such as accounting, CRM, or donor management, greatly enhances efficiency and accuracy of data. Look for software featuring:

• API Integration Options: Application programming interfaces, in short, APIs enable seamless integrations with other important tools. Thus, this will keep your workflow coherent and your data silo-free.
• Data Import/Export Functionality: Ease in data import/export functionality makes the initial setup easier and maintains consistency in data across the platforms.
• Single Sign-On Capability: SSO facilitates user access to several platforms, which reduces the feeling of being bogged down by continuous logins and increases team productivity.

Example: This could be where a foundation integrates its grant management software with its accounting system; once all the financial information is updated, it automatically updates, reflecting changes within the accounting system itself, which reduces duplicate data entry and minimizes human errors.

Usability and Adoption Potential

Difficult-to-use software decreases team productivity and increases the potential for mistakes. When selecting a post-award grant management tool, consider its ease of use to include:

• Intuitive UI: A clean and intuitive UI lets the team members locate anything they want in a few clicks, hence making their work efficient and reducing time spent learning.
• Training and Support Resources: Full training, user support, and an easily accessible knowledge base will tend to improve user adoption and satisfaction levels over a longer period.
• Customizable User Roles: In grant management, many different types of stakeholders typically require access to various views of the data with varied permissions. This is ensured through customizable roles, along with access to all the right information without the overwhelm.

Example: A nonprofit with limited staff can streamline the onboarding process for grantees by selecting software with built-in tutorials and support, reducing onboarding time for new team members and improving long-term adoption.

Security of Data and Compliance to Privacy Standards

The post-award grant management invariably copes with sensitive data, ranging from financial records up to the personal data of grantees. With ever-stricter regulations on data privacy, one of the most important features to consider in software selection is data security. Your chosen platform should be able to give:

• Data Encryption and Access Control: Protects sensitive information, allowing only authorized personnel to view or edit certain data.
• Audit Trails: Clear audit trails of changes and data access across the platform are indispensable for security and compliance audits.
• Compliance with Relevant Standards: Look for software that follows the standards of data security relevant to your organization—be those GDPR, HIPAA, or federal cybersecurity regulations.

Example: A health-focused foundation can have a high degree of confidence in storing personal data on grantees within its grant management software, knowing data meets the standards of GDPR and all user actions are tracked for full transparency.

Flexibility and Scalability

The growth of an organization often changes grant management needs, so this requires choosing a scalable post-award solution. Seek out software that can adapt to:

• Increasing Grant Volume and Complexity: A system that does not slow down as the grants increase in number and award size because your organization is growing.
• Customizable Features and Modules: The solution should be modular in customization so you could add features or adjust them as needs changed, not disrupting the processes in place.
• Configurable Workflow: Grant management is not a one-size-fits-all process. A configurable system that allows for adjustments in workflows can bring significant ease in smoothing out unique processes and engaging different needs across diverse departments.

Example: A regional grantmaker may start by implementing the core set of functionalities and, over time, as new grants and workflows are added, scale the system to expand the platform with its mission.

Impact Measurement and Data Analytics

Funders and stakeholders increasingly expect comprehensive impact reporting. An advanced, data-analytics-enabled post-award grant management solution will let you effectively measure and communicate your impact through:

• Impact Tracking Tools: Track and monitor the outcomes of programs, while tying that information back to funding sources.
• Customizable KPIs and Metrics: The ability to set and observe KPIs unique to your grant outcomes for insight into program success.
• Data Visualization: Inbuilt data visualization tools make it easier to present the impact data in an understandable format—ideal for sharing with such stakeholders as board members.

Example: An education grant-focused organization can track changes in such student performance metrics across schools in which funding was provided by its grants. It then displays such insights on dashboards and charts for easy access to stakeholders.

Cost Considerations and Investment Value

While cost is always a factor, it really is value where post-award grant management software provides efficiency and capability. Consider initial costs against ROI for improved workflow, compliance, and reporting efficiency or requirements for reporting when weighing options that fit your needs. Key areas of costs to consider include the following:

• Licensing and Subscription Fees: Determine what model will work for you—licensing fee or a subscription-based model.
• Implementation and Training Costs: Consider both upfront setup costs and any additional charges for training or assistance.
• Preventive Cost of Potential Downtime: The ability to have a robustly reliable system supported by efficient customer support prevents costly disruptions, enabling you to focus on managing grants rather than technical issues with your team.

Example: A nonprofit may choose software with a subscription fee slightly above its budget because that particular software comes with robust customer support and training, saving costs in terms of time and operations in the long run.

Why Fluxx is the Perfect Solution for Post-Award Grant Management

Fluxx is an all-round suite of solutions for the peculiar problems of grant management in the post-award process, focusing on compliance, ease of use, and scalability. Equipped with rich analytics and impact-tracking data, Fluxx allows organizations to meet their reporting needs and better communicate their impact to their stakeholders. It can be seamlessly integrated with systems and ensure smooth data interchange across platforms. User-friendly interfaces backed by training support ensure a very high level of adoption across teams. Fluxx is adaptive, secure, and scalable, responding to the demands of a growing organization and ensuring long-term value in your grant management process.

Choosing the Right Post-Award Grant Management Software

Selection of the appropriate post-award grant management software is a strategic decision wherein simplification of operations can be provided, reporting accuracy enhanced, and compliance improved. An organization will ultimately be in a position to find a solution—not just to simplify post-award processes but also to further a more impactful grant management program—by evaluating options for compliance capability, integration, usability, security, scalability, analytics, and cost. In essence, with the right software in place, you enable your team to focus their efforts on the most important thing: making real, tangible change with every grant awarded.

Ready to see how Fluxx can revolutionize your post-award grant management? Click to schedule a call today!