New Features

Track budgets and awards with Apply’s new financial management capabilities

Author photo
Vincent Guihan

Every organization that gives away funding needs to track where that funding comes from, how much is left, how much has been allocated, and other details. And while financial management systems cover some of the requirements for funding management, with many organizations, much of the work is still done in spreadsheets. 

Moving funds around and ensuring everything’s covered correctly by the right funding source (and its rules) can be very stressful. If you miss a decimal point due to long hours at the end of quarter or a semester, it can be a big deal!  That’s where Apply’s new financial management capabilities come in. Financial Management is available in our Enterprise plan by default, but available in all of our Pro plans as an add-on. 

 

What can you do with Apply’s Financial Management?

SurveyMonkey Apply’s financial management capabilities empower you to stay on top of your funding, budgets, and payments. 

From our administrative dashboard, administrators can easily track high-level financial status for their programs at a glance. Drilling down on a specific program, administrators can easily take in what funding remains available, as well as the transaction history. 

Apply makes it easy to keep on top of what budget has been allocated and what has been paid out. It’s also easy to move monies between programs when you need to.

Apply’s dashboard makes it easy to review funding allocated, the source of funding, and transactions all in context, where details are most needed for administrators.

 

Awarding applicants is also straightforward. You can easily schedule payments with a few clicks. For example, if you need to issue grant money according to a specific schedule or you need to disburse scholarships over semesters or trimesters. 

You can also draw from multiple sources of funding to award an applicant.  It’s often the case that you might draw on multiple sources to fund larger projects. With Apply, you have finely grained control over the award process.

Apply provides important financial details in the context of awarding your applicants, and also makes it easy to combine funds, select specific funds to award applicants and schedule payments, and more.

 

You can also streamline the communication process. You can automatically notify applicants of their award and its value when they log in to Apply’s applicant portal, or send them an automated email. And of course, with Apply’s bulk actions, you can award multiple applicants at one time. 

Need to handle requests for increased funding? Apply’s post-award stages make it easy to collect and decide on requests for additional funding, collect and review project documentation, collect receipts, and other requirements that are an important part of most organization’s financial processes. 

Not yet a SurveyMonkey Apply customer, but curious? Reach out to one of our product experts. Already an Apply customer, and want to learn more? Reach out to our  Customer Success team to learn more.

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