Grant management software is a software program that helps the non-profit companies to handle grant processes. Grant management covers all the management work from initial step to completing the requirements of a grant. Designed for grant seekers, grant management could be used to keep appropriate relationships with the investors whereas for the grant makers, it could be helpful to ensure that the money is being paid. Most of the grant management solutions are implemented online and are also available for access to anyone. The solutions are provided on the basis of the software as a service model where the clients pay online services providers for accessing the solutions. The main advantages of the hosted grant management software is that consumers can easily gain access to the software without requiring any technical support and set up. The grant management software also helps the clients to discover out the grants by recognized funding sources and alert them when any relevant grant opportunities are made available.
COVID-19 Scenario Analysis:
- The spread of COVID-19 pandemic has adversely affected the global economies. Several industry verticals were forced to shut down their business operations due to the imposed lockdown by governments of various countries. However, the COVID-19 pandemic positively impacted the growth of some sectors such as software and technology. The demand for digital solutions has increased at a high rate in the last few months.
- Some of the government organizations and banks are taking significant initiatives to provide grants to the affected users. The implementation of advanced technologies, including artificial intelligence to solve quick calculations to strengthen the abilities of human intelligence is driving the growth of the grant management software market during the pandemic situation.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The increasing demand for grant management software among businesses to simplify the application process and rising usages of software for collecting the complex online data are the factors driving the growth of the grant management software market. In addition, rise in demand for sophisticated financial management solutions is also expected to propel the grant management software market. However, inadequacy of common standard procedure and stringent government rules & regulations are the factors hampering the growth of the market. Furthermore, an integration of advanced technologies and services such as artificial intelligence and machine learning with the software is anticipated to provide lucrative opportunities for the growth of grant management software market during the forecast period.
The market trends for grant management software market are as follows:
Increased adoption of the software in small & medium enterprise (SME) segment
Developing countries are witnessing an increase in the number of SMEs, which are inclined toward implementing software-based automated solutions. The rise in demand for grant management software owing to rapid adoption of this software among the SMEs for improving business operations by reducing cost drives the growth of the market. Grant management software analytics also allows us to comprehend a budget forecast and grant budget statements. There has been an increase in awareness associated with grant management software advantages amongst enterprises in developing regions.
Cloud-based software expected to boost the market growth:
Companies are looking forward to adopting solutions deployed on cloud, as it offers various advantages such as scalability, flexibility in capacity, and cost-efficiency. The application of cloud-based grant management software facilitates enterprises to concentrate on their core capabilities rather than IT processes. With the help of the cloud-based grant management solution, enterprises can avoid costs related to software, storage, and technical staff. The cloud-based grant management software provides a way to integrate the system and its elements with web and mobile applications as well as helps organizations to fast-track grant processes.
Key benefits of the report:
- This study presents analytical depiction of the grant management software market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the grant management software market share.
- The current market is quantitatively analyzed to highlight the grant management software market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis based on the present and future competitive intensity of the market.
Questions answered in the grant management software market research report:
- Who are the leading market players active in grant management software market?
- What would be the detailed impact of COVID-19 on grant management software market?
- What current trends would influence the market in the next few years??
- What are the driving factors, restraints, and opportunities in the grant management software market?
- What are the projections for the future that would help in taking further strategic steps?
Grant Management Software Market Report Highlights
By Service Type
By Deployment Model
By Enterprise Size
By End User
Key Market Players
StreamLink Software Inc., Workday Inc., CyberGrants Inc, Fluxx Labs LLC, WizeHive Inc., Submittable Holdings Inc, Salesforce.com Inc., Oracle Corporation, The Sage Group Plc, Momentive Global Inc.