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The Funding Management App is designed to simplify the management of grants, contracts, donations, and other fundraising activities.
For contracts, it streamlines the entire process from quoting to invoicing, including support for variations. For grants, the app handles the full grant lifecycle, from application to final acquittal reporting.
This type of app is essential for non-profits, educational institutions, government agencies, and foundations to manage funding opportunities effectively and ensure compliance with grant or contract requirements.
The Funding Management App is designed to simplify the management of grants, contracts, donations, and other fundraising activities. For contracts, it streamlines the entire process from quoting to invoicing, including support for variations. For grants, the app handles the full grant lifecycle, from application to final acquittal reporting.
Grant officers can open the App in a browser, in a Teams channel, or by using the installable Power Apps desktop client.
The App displays all funding sources on the left side. A search facilitates finding the details of a particular source of funding. The app can manage grants, contracts, donations, and other fundraising activities. In this example we will show how a contract is managed.
A contract potentially has four steps. Step one is the initial inquiry. Step two is creation of a quote. Step three allows for any variation or adjustment of the original quote. And step four is the invoice for payment and closure of the contract.
In step one of the process, we register an expression of interest of funding. For a contract this would probably be a referrer or funding body, reaching out to inquire if we have capacity to deliver a contract. For a grant, this step is a registration of interest to apply for the grant. After a management review of the funding inquiry, we may proceed to the next step.
In step two we prepare the submission documents. For a grant, this will be a grant application. For a contract this will be a quote. The quote screen includes all information required to provide a quote, including billable hours, brokerage, transport ,and other costings. In this example the domains refer to the primary objectives to be fulfilled by the contract. If the quote is accepted, then we can record the date of acceptance, and proceed to deliver the contract.
Sometimes, during a contract, the conditions change requiring an amendment to the original contract. The amendment is recorded with the new amount, and any other agreed changes. If the variation is accepted, then once again we record the date of acceptance, and proceed to complete the contract.
The final step is to record an invoice, or in the case of a grant, an acquittal. The app allows for multiple invoices against a contract. The invoice details are added to the App.
Throughout the contract life, key financial balances are presented on the left side to monitor the status of the contract. Key documents are saved and shared in a SharePoint document store, which is created automatically with workflow. Power B.I. reporting can also be included.
Once the entire contract has been invoiced, the contract can be closed, and archived in the app.
Here are the key benefits of using a grant/contract management app:
By leveraging these benefits, a grant management system app can significantly enhance the efficiency and effectiveness of grant management processes, leading to better outcomes for both grant recipients and funders. If you have further questions or need more detailed information, feel free to ask!