Effective grants management is critical to keep the flow of research funding in support of today’s leading research institutions.
Since IT Works serves the nation’s leading research-focused universities, colleges and hospitals, we are always on the lookout for informative, timely and helpful grant management resources.
To that end, the Grants Managers Network is a good resource to those seeking federal funds.
About the Grant Managers Network
The Grants Managers Network is a national association of more than 2,800 philanthropy and grant professionals. We appreciate this organization’s mission. For nearly 25 years, Grants Managers Network has worked to improve grant making by advancing the knowledge, skills, and abilities of grants management professionals and leading grant makers to adopt and incorporate effective practices that benefit the philanthropic and research community.
By increasing the knowledge of grants management, the Grants Manager Network helps grant makers deliver more resources directly to mission-driven activities, leading to better outcomes for grant makers and grant seekers alike.
Sharing Best Practices
We were pleased to recently share a guest post that was published in the Association’s weekly e-magazine, GMNsight.
The publication shares knowledge gained through years of experience in grants management; explores the trends and practices of modern grant making; and drives forward thinking and progress that will shape new approaches to delivering mission-critical funding and support services.
The journal recently published our article “Got Gaps? 3 Tips to Plug the Gaps in Your Current Grant Management Process.”
The full article is available via the link noted above.
In a nutshell, the article provides insight for today’s research office seeking to improve the grant management process.
The article outlines the key areas that signal an inefficient grant management process. With each trouble area, we included an associated best practice to address the challenges.
As the article notes, outdated or manually intensive grants administration creates bottlenecks and wasted effort. An over-reliance on physical files and highly manual business processes waste time, resources and frustrate the entire team.
- Bottlenecks with manual, redundant methods.
As a best practice, organizations are wise to seek out automated document storage. By automating document management, users can easily store and manage all documents digitally.
- Challenges regarding compliance with documenting personnel expenses.
To counter compliance issues such as this, an automated Effort Reporting System offers benefits such as single source data retention, ease of access/use by administrators and certifiers and automated reporting. These benefits, as well as the benefit of electronic record storage, provides the basis for financial and compliance management and audit support.
- Communication and collaboration work-arounds:
It’s tricky when there are multiple people involved in the management of grants. As a best practice, automating grants management gives users instant access to information at any time through the grant lifecycle. Many organizations benefit from easy to use web-based interfaces that include dashboards, display screens and reports. Many solutions offer user permissions via an expandable folder system that streamlines the organization of proposals and awards according to user defined filters.
Effective grants management is best achieved through use of grants management systems. With such technology, teams are better able to organize and access essential information for both day-to-day management and institution-wide reporting, as well as meeting requirements placed by funding agencies.
Learn More About Effective Grants Management
Looking for an effective grants management process? Contact IT Works for a look at strategies and techniques geared specifically to your needs.