The process of applying and tracking these grants, the many details, legal agreements, approvals and so on, requires heavy documentation and constant communication amongst colleagues, is very time consuming and manual. Workflow management is a perfect solution to streamline these processes.
It can start with automating the process of initiating the grant application, organizing the flow of information and documents between the various people involved and ensuring the deadlines are met through notifications and reminders. In addition, business process management can provide visibility into the status of every grant and its corresponding approvals, streamline the process of receiving legal sign offs and help finalize details of receiving the awards.
With business process management the process becomes clear, accountability increases through visibility of all steps in the process, award rates increase and funds are received much faster.