Why enterprises are moving to Cloud?
Having the opportunity to increase charitable giving can be an exhilarating moment for any foundation. Sometimes an influx of assets makes it possible to increase the delivery of funds, and while this is an exciting proposition, the work involved can be daunting. Without the right tools, scaling up can be difficult. Outmoded processes for proposal review and reporting make it hard for the foundation to grow as effectively as it wants to. With the processes you currently use for grant management, it’s likely that you never feel like there’s enough time in the day to get everything done. How can you expect these methods to be sustainable when you increase giving? If your organization hasn’t considered the decision of moving to cloud or If your foundation is still accepting proposals on paper and maintaining spreadsheets filled with data, it could be time for a change by placing the data on a cloud.
An article in PhilanthroFiles noted how scaling up giving efforts often necessitates a completely new approach to grantmaking. The website cited the example of a family foundation that received an enormous increase in assets when one of its founding members passed away. The organization acquired roughly $750 million. The foundation was in a good position to scale operations because they had started planning for this type of situation early on.
The importance of grant management tools
One of the best ways to set your foundation up for success is to implement better tools to manage the grant management process. Effectively delivering funds and reporting on them is difficult enough at the best of times. Increasing these activities on a larger scale will require greater organization, which means a cloud-based grant management platform could be the best way to go.
Cloud-based systems can be greatly advantageous for foundations that anticipate growth because they are easily scalable, especially if you can work with a company like CommunityForce that will create a customized system. The more constituents you collect in your growth, the more you will need a system that can manage your data effectively. As Tech Impact puts it, moving grant management to the cloud can help you upgrade the formatting of your data, make it easier to work with, and store it in a central location where it can be accessed by anyone that needs it.
Even if your foundation is not expecting its assets to grow in the near future, implementing cloud-based grant management software now can effectively prepare you for the future. At the very least, it will improve your processes, allowing you to deliver funding more effectively.