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Navigating the future: grant management trends in 2024

As the ecology of grant management continues to evolve, we know that organisations want to stay ahead of the curve to effectively secure, manage, and maximize funding opportunities. As we take stock at the end of the first quarter of 2024, we see that several key trends are currently shaping the future of grant management. We asked our expert team about these trends and how they are reshaping the grant landscape.

Smiling Woman at the Field

Six key trends for grant management in 2024: from the grant management experts at AIMS

Digital transformation: The acceleration of digital transformation is revolutionising grant management processes. It feels obvious, but the impact of AI on funding will be wider than even we can imagine.  In 2024, we expect to see an increased adoption of cloud-based grant management platforms such as AIMS, more AI-driven application review processes, and wider use of blockchain technology for enhanced transparency and accountability in grant disbursement.

Data-driven decision making: Harnessing the power of data analytics is becoming essential for both grantmakers and their recipients. We see organisations more effectively using data analytics tools to gain insights into grant performance, measure impact, and make informed decisions in order optimise resource allocation and maximise outcomes. Many funders still use a ‘gut instinct approach’ but we see the need for transparency and accountability across the sector, which is met by a robust use of data at all levels.

Focus on Equity and Inclusion: Addressing disparities and promoting equity in grantmaking is understandably gaining prominence. In 2024, we anticipate a heightened emphasis on diversity, equity, and inclusion in grant programs, with organisations implementing strategies to ensure equitable access to funding opportunities and reduce systemic barriers for underrepresented groups.

Collaborative partnerships: Collaboration is key to addressing complex societal challenges. Grantmakers and recipients are increasingly forming strategic partnerships with other organisations, government agencies, and community stakeholders to leverage collective expertise, resources, and networks to drive meaningful change. We have noted a significant increase in enquiries relating to how AIMS can be used to work in collaboration internally, externally and internationally.

Streamlined processes: Simplifying and streamlining grant management processes is a priority for funders seeking efficiency and effectiveness in a world where budgets are reduced and overheads are increased. We are delighted that more clients are choosing to automate administrative tasks and to implement standardised processes within their grant managemengt system – and we are more delighted to see that this reduces their administrative burden and enhances productivity.

Resilience and adaptability: We know that building resilience and adaptability into grant programs is essential. In 2024, organisations are prioritising flexibility in their grant design, allowing for agile responses to emerging challenges and opportunities, and implementing risk management strategies to mitigate potential disruptions. Choosing a modular grant management system like AIMS allows our clients to easily refine their GMS to reflect the continuously changing needs of their grant making programme.

At AIMS, we believe that the future of grantmaking holds immense promise, with advancements in technology and innovation revolutionising the way grants are administered. As funders increasingly embrace data-driven approaches, collaborate across sectors, and prioritise equality and inclusion, the potential for transformative change and impact has never been greater. We see how this focus on innovation, adaptability and collective action, offers a future for grantmaking that presents boundless opportunities to address society’s most pressing challenges and drive positive social change on a global scale. We’d love to be part of your journey – get in touch to discuss what your future holds.

We can’t see into the future – but we can help you meet the challenges that it holds. Get in touch for a no strings chat about how we can help you give grants better.

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