Benefits of Integrated Grant Management System and Impact Measurement
Many organizations that receive grant funding struggle to keep up with the administrative demands of managing their grants. At the same time, they are under pressure to demonstrate the impact of their work to funders. Here’s how integrating grant management and impact measurement can help organizations increase efficiencies and improve outcome reporting.
The Benefits of Integrated Grant Management System and Impact Measurement
There are many benefits to integrating grant management and impact measurement. When these two functions are aligned, it allows for more effective and efficient decision-making about where to allocate resources. Additionally, it can help improve communication between funders and grantees and help build a shared understanding of what success looks like.
When grant management and impact measurement work together, it can lead to a more strategic and coordinated approach to philanthropy. It can, in turn, help to maximize the impact of grants and ensure that they have the desired effect. Additionally, it can help to improve accountability and transparency within the grant-making process.
Integrating grant management and impact measurement can also help organizations better understand their performance. It can lead to improved self-evaluation and a greater likelihood of achieving desired outcomes. Additionally, it can allow organizations to identify areas where they may need to make changes or adjustments to improve their performance.
How to Integrated Grant Management and Impact Measurement
As more and more organizations move towards data-driven decision-making, the need to align grant management and impact measurement becomes increasingly important. Doing so can help organizations make the most efficient use of resources and ensure they have the desired impact on their communities.
There are a few key ways to integrate a grant management system:
- Define clear goals and objectives for both grant management and impact measurement. What does your organization want to achieve? How will you know if you’re successful? Having clear answers to these questions ensures that everyone is working towards the same goal.
- Ensure that data collected for impact measurement is also helpful for grant management. There’s no point in collecting data that isn’t going to be used or isn’t relevant to the decision-making process. Make sure that any data collected can be easily integrated into your grant management system.
- Communicate often and openly between the grant management and impact measurement teams. Both teams need to understand what the other is doing and why. By sharing information openly, you can avoid duplication of effort and ensure everyone is on the same page.
The benefit of integrated grant management system software is that it increases efficiency in grant award management and helps impact measurement. Determine the total percentage of resources from a foundation or government agency to dedicate to project-based work, effectively clarifying your organization’s role in the community.