5 Things Donors Like About Grants Management Solutions for NetSuite
Grants are the lifeblood of non-profits and government organizations. Grants provide the funds organizations need to fulfill their mission.
The importance of grants makes it crucial that non-profits and government organizations develop strong relationships with donors. Grants management solutions for NetSuite can help.
Grants management solutions help ensure compliance, accountability, and overall program success. This is music to a donor’s ears.
Here are six ways that grants management solutions for NetSuite improve donor relationships:
- Greater trust. Donors want to know their money is being spent the way they intended. Clear and regular communications with donors can head off problems. Grants management solutions make it easy for non-profits and government organizations to track expenses and revenues. The technology records minute grant features that are specific to a customer and provides a real-time snapshot of grant expenses and revenue. Users can instantly access grant expenses, revenue, and other details. And compliance reports can be generated with ease. The visibility provided by grants management solutions for NetSuite help non-profits and government organizations comply with reporting mandates and build donor trust.
- Fewer budget overruns. Donors will not appreciate budget overruns or projects that fall short of commitments. Communicating terms and conditions with staff and holding regular meetings with staff to discuss project status help. But grants management solutions ensure that projects stay on track and under budget. The technology enforces compliance in grant expenses. And grants management solutions for NetSuite automatically match grants with other funding sources. For instance, dollar-for-dollar grants can be matched to other grants.
- No returned funds. On the surface, spending below a donor’s allocation seems like a good idea. But few donors want the hassle of dealing with returned funds. Donors might also have targets that they must meet. And some donors may lose returned funds in subsequent years. Grants management solutions for NetSuite manage the entire grant process, from beginning to end, helping to ensure that funds are used to the maximum potential.
- Better operational efficiency. Donors want to know that non-profits and government organizations are good stewards of their money. Unfortunately, studies show that up to 44 percent of an organization’s time can be spent on grants management activities that do not directly relate to program delivery. Grants management solutions for NetSuite streamline operations through accurate indirect cost calculations and automated chargebacks. Grants management solutions also are built right on the NetSuite platform and have the same look and feel of a typical NetSuite page from a user interface perspective. This tight integration extends the functionality of NetSuite to provide full grants management and accounting.
- No surprises. Donors want to know as soon as possible that a non-profit or government organization is unable to meet conditions. This might include items that cost more than budgeted due to unforeseen circumstances. Grants management solutions for NetSuite make it easy for non-profits to review progress against the project plans agreed to with a donor.
More non-profits and government organizations are recognizing the operational benefits of grants management solutions for NetSuite. But the technology has benefits for donor relations as well.
Want to learn more about automating your organization’s grant lifecycle?
Contact PyanGo to arrange a no-obligation product demonstration and see how easy it can be.