Dealing with multi-funder requirements!
Tracking them all at once
Diversified external funding for the local level and community-based organizations provide a wider funding pool to support their global and national missions. Additionally, this often culminates in operational and administrative challenges in meeting dynamic stakeholder expectations, including unaligned grant cycles and variable reporting requirements and reporting timelines, disparate expectations around program priorities, in addition to practical complexities, including unaligned grant cycles, variable timing of funding disbursements, unaligned reporting requirements, and unsynchronized regular and ad hoc financial and program audits.
While robust governance and strategic planning will leverage the ability to align organizational goals and agendas, systems to track, monitor, and manage budgets and outputs are required. Managing portfolios of program implementation and training funding streams requires the ability to track budgets, expenditures, outputs, procurement processes and human resources. Electronic systems can yield substantial efficiencies, but require upfront and ongoing investments for training and sophisticated support functions.
Sohna has launched an Enterprise resource planning (ERP) system called Grant Manager intended to track and monitor individual project funding, and provide greater transparency of financial flows and accountability of departments and individual with the hope that the ERP system will help to lessen this burden.
Fast. Easy. Setup! Work from anywhere across all your offices and sub-offices and at any time using our cloud platform
You need to
segregation of duties
Mitigate fraud and error by having more than one person involved to complete a task in a payment process by use of a powerful “Segregation of duties” feature in GRANTManager .