AwardVision Review

Improves Decision-Making

One of the reliable features offered by AwardVision is that it improves how users come up with better decisions as they receive and manage grants from their funders. To improve decision-making, the solution consolidates all pertinent and critical information in one place and makes sure that everyone can easily access them in real time.

Easy And Real-Time Time Access To Grant/Award Information

In a single glance, users can easily and quickly access all the information they need like current expense numbers, pre-award estimates, obligations, funder restrictions, and more. AwardVision can generate expenditure statistics which can be used for comparing actual expenses against estimates, and determining whether there is a need to adjust estimate amounts based on actual expenses.

Eliminate Data Silos

Since AwardVision has the capability to consolidate all information related to grants in one place, data silos are eliminated. Data silos occur when pieces of information are stored in disconnected repositories or sources, making it difficult to exchange information between departments, organizational units, and users.

The solution makes it easy for users to attach supporting documents to grant proposals/applications and awards as well as link documents to the respective funders. They no longer need to use Excel spreadsheets and multiple databases, helping them prevent data conflicts, data reconciliations, and redundant data entries.

Increases Productivity And Efficiency

AwardVision is built to aid organizations and their staff in increasing their productivity and efficiency. It gives them a complete visibility of the entire of grant/award lifecycle process and the ability to perform actions faster. For example, during the stage when they are presenting their proposal and making negotiations with a funder, they can track modifications being made in the estimate.

They can also integrate data related to award estimates into Serenic Software’s budget management tool. Moreover, the solution allows them to perform indirect cost calculations based on funder instructions and restrictions, create sub-awards and track individual sub-awardees, and share award information across companies.

Multicurrency Recording, Viewing, And Reporting  Of Grant Data And Transactions

AwardVision is ideal for organizations that are running multinational operations, making it the preferred grant/award management application of many international non-governmental organizations. Actually, the solution has a feature that enables organizations to record, view, and report grant/award data and transactions in multiple currencies.

Expense Management

Expense management is a very important feature available in AwardVision. This feature permits organizations to ensure that grant funds are used only for the right purposes and activities and at the right time, reducing the instances of overspending or underspending. A component of this feature is the ability to set start and end dates. Here, users can only enter expenses within the time periods when funding is available. Another part of the expense management feature is the capability to link financial activities and transactions to corresponding combinations of budget account segments. This prevents users from generating incorrect or inaccurate invoices.