Grant management has always been a crucial procedure for most companies. It mainly involves administrative tasks like grant reporting, funding, and program execution. Grant management software helps manage and automate the entire grant process for fund-seeking organizations, including universities and Nonprofits. The administrator of grant process management must follow the current standards set by donors. Grant management software also enables organizations to collect detailed online data and provide both online and grant-tracking capabilities in a single package.
Oracle, Sage Group plc, Salesforce.org, Workday, Inc., and Momentive – Prominent Market Participants in Grant Management Software Market
The cloud solution is delivered in an all-in-one package comprising complete control and predictability of expenses, including uptime, hosting, software licensing, support, Maintenance, software patches, and bug fixes. Based on customization, the cloud-based solutions can be deployed in a few days or might take a few weeks. The clients can access the cloud-based software using existing devices such as tablets or smartphones. The cloud-based solution eliminates the need to develop secure remote connections, such as virtual private networks regulating the speed. Thus, the solution’s low-cost deployment and Maintenance significantly drive the grand management software market in developed and developing countries. Seabrooks provides an easy-to-use cloud-based community impact grant management system. PyanGo offers software for educational institutions and nonprofits, fully integrated with the Oracle NetSuite cloud platform.
Developing countries are experiencing a rise in the number of SMEs inclined toward adopting software-based automated solutions. The demand for grant management software is rising as SMEs increasingly emphasize automated solutions to enhance business operations. Grant management software analytics enables consumers to understand the budget forecast and grant budget reports. There is an increased awareness of grant management software benefits among companies in developing regions. In developing countries with limited resources, grant management software can significantly reduce the manual work and increase the capacity of organizations to apply for, manage, and receive reports on grants. It allows organizations to track where funding is going and how it is being used, helping to promote transparency and accountability.
The COVID-19 outbreak dramatically impacted the global economy during its peak in 2020, and the crisis hampered business activities in IT and business industries. The outbreak positively influenced the grant management software market due to the rise in remote work and increased federal funding for pandemic relief. The majority of state and local agencies that disperse grants are finding grant management software an important tool to track the flow of grant amounts, provide reports on grant performance data, and eliminate manual and paper-based processes. During the unprecedented pandemic, foundations and nonprofit organizations leveraged grant management software to review applications, communicate with funding recipients, make grant awards, keep payment tracks, and ensure that recipients comply with the requirements of each award.
The top five companies in the market are Oracle, Sage Group plc, Salesforce.org, Workday, Inc., and Momentive. The above listing of key players is derived by considering factors such as overall revenue, current well-completion equipment and services portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. A few of the important market initiatives and product developments from the industry are mentioned below:
| Year | News | Region |
| 2023 | Momentive Global Inc launched three new survey creation features for SurveyMonkey. The new features include a language personalization feature, additional best/worst question types, and a multilingual email collector | North America |
| 2020 | SurveyMonkey Apply web-based platform helping organizations and government agencies to collect and review data-intensive applications for grants, awards, scholarships, and other programs during the COVID-19 pandemic. | North America |
