Grant management systems (GMS) are software programs designed to help administrators and funders track, manage, and report on grants as part of their overall philanthropy program. GMS automate a variety of tasks related to grant administration, including tracking funding commitments, managing submission and review processes, and reporting on progress and outcomes. They can also provide donors with reports on how their grants are being used, helping them make informed decisions about future contributions. The following is an overview of the five major types of GMS.
Project-Based GMS
These programs are designed to track the progress, outcomes, and performance of specific projects. They typically hold the donor’s name, organization, and project title in a central database, which is accessed by grant-making staff. The databases can be customized to meet the individual needs of each donor. The Grant Management System (GMS) can be expressed in different ways, depending on the needs of the organization and the region.
Five Major Types of Grant management systems
Grant management system (GMS) are essential to managing grants. The following are five types of GMSs:
1. Project management system (PMS): This is the most common type of GMS and is used to manage projects from start to finish.
2. Integrated resource management system (IRMS): This type of GMS integrates financial, human resources, and project management functions.
3. Self-service grant portal: This type of GMS allows grant seekers to access information about grants and make applications on their own.
4. Portfolio management system (PMS): This type of GMS helps organizations manage multiple grants simultaneously.
5. Integrated grant management system (IGMS): This type of GMS links multiple grant programs into one application and processing system.
A TECHNOLOGY FIRST APPROACH TO GRANT MANAGEMENT:
A technology first approach to grant management is being developed at the University of California, Davis. The project is called the Grants Management Information System (GMIS), and it will be the first of its kind. GMIS will allow researchers and administrators to track all grants, including those from government agencies, private organizations, and individual donors. The system will also allow for online submission of proposals and tracking of funding levels.
CONTROL FEATURES:
Grant management is an essential part of financial control. A grant management system (GMS) helps to track and manage all aspects of a grant’s lifecycle, from submission through payment. Some key features of a good GMS include:
- Efficient tracking and management of all grant submissions, including online forms and forms submitted by email.
- Ability to search for grants by keyword or program type.
- Ability to generate reports on grant activity, including spending data, funding history, and compliance information.
- Built-in communication tools allow administrators to keep tabs on grantees and communicate with them about their progress.
- Redundant systems ensure that in the event of a system failure, grants can still be processed.
Fully-featured Cloud Platform:
Grant management has always been a time-consuming and tedious task for many organizations. With the advent of cloud computing, this process has become even more arduous. However, there is now a fully-featured cloud platform that can help make grant management easier and more efficient for your organization.
The cloud platform is known as Grant Station and it was created by Intrepid Software. It is a leading provider of grant management software and services. Grants Station offers an overwhelming amount of features, including: customizable reports, automatic email notification of updates, online submission of grants applications, tracking of funding status, and much more.
This platform makes grant management simple and efficient for your organization. It allows you to manage all your grants in one place and track their progress very easily. Plus, the automated email notification system ensures that you are constantly updated on the status of your grants.
How Much Does Grant Management Software Cost?
Grant management software can cost anywhere from a few hundred dollars to several thousand. Most programs have a free trial period, so it’s important to explore all of your options before committing to a purchase. Some of the most popular grant management software programs include 37Signals’ Campfire and Harvest, Rapid7’s Grima, and Microsoft Office 365’s grants module.
Conclusion
In conclusion, a grant management system can help administrators to better assess grant opportunities and allocate funds more efficiently. Administrators should consider how a GMS can meet their specific needs when designing and implementing a system.
