Grants are a vital investment for the federal government to fund programs and initiatives that benefit society. Grants are also the number one method for government spending overall, making the total addressable market for grants solutions immense. In Fiscal Year 2022, federal awarding agencies awarded $1.13 trillion in grants and cooperative agreements across 51 awarding agencies, distributed over 1,000 programs, to over 1 million applicants and recipients, with the demand for funding increasing annually by 3%.
Agencies have historically relied on custom solutions to meet this demand, resulting in an expansive and aging ecosystem. While there are some tools on the market, many have limited interoperability with manual and sub-optimal processes, leading to a fragmented user experience and increased administrative burden for applicants, recipients, and agencies. Additionally, most systems do not span the entire grants lifecycle, comply with security/FedRAMP requirements, or adapt to evolving needs of the grants landscape.
This solution has a proven track record of success with existing past performance, license sales, and production deployments to the state of West Virginia, as well as a growing pipeline with more than 10 active opportunities worth over $2M in ACV as of this submission.
Key Features & FunctionalityThis solution delivers the breadth and depth of functionality to meet the most stringent agency requirements, government standards and regulations. Key Features include:
Benefits & Business ImpactThis solution can be applied across a wide range of industries and business domains for both agencies issuing grants and organizations in public or private sector that are funded by grants to improve utilization and compliance, as well as reduce the administrative burden so more funding dollars go to supporting the mission and objectives. Additional benefits include:
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