This guest blog post by Tom Grimes, director of public sector sales at StreamLink Software, explains how the DATA Act may mean lower compliance costs for federal grantees. StreamLink supports the Data Transparency Coalition’s advocacy as a Regular Member and is hosting the compliance track at the Data Transparency Summit on April 29th. For more details on how StreamLink’s solutions will use DATA Act standards to automate compliance, join us at the Summit!
The DATA Act promises to transform federal spending through comprehensive data standards. Once federal financial reports, budget actions, performance metrics, contract disclosures, and grant reports are electronically cross-searchable, citizens will have access to the information they need to hold their government accountable and federal agencies will deploy Big Data Analytics to find and stop waste and fraud.
But what will be the impact on state and local governments and other recipients of federal grants? Grant recipients often struggle to deal when complicated reporting challenges. Under the DATA Act, the federal government will prescribe standard data formats for these existing reporting requirements. StreamLink Software, a member of the Data Transparency Coalition, believes that standard data formats will allow grantees to automate their compliance tasks—saving time and money for the work the grants were intended to fund in the first place. StreamLink Software published its vision for better grant reporting in a white paper (PDF) last year.
How can grantees grab this savings? By being proactive, even before the new data formats are adopted. States, local governments, and other grantees should integrate their grant management now so that their federal reporting burdens can shrink later, through automation.
StreamLink Software is also supporting the goal of data transparency at the state and local level, including in their home state of Ohio. The DataOhio Initiative aims to bring process efficiencies, accountability, and economic growth through comprehensive data reform throughout Ohio government agencies. Automation, especially in the form of grants compliance and reporting, will be a key part of this initiative to improve the flow of machine-readable data.
The StreamLink Software compliance panel at the Data Transparency Summit on April 29th will illuminate how. We’ve invited the leading innovators in state-level grants management to share best practices and explain how they are preparing for the DATA Act.
Grantees should also share their views with the federal leaders who will be implementing the DATA Act. Those leaders—members of Congress and their staffs, key staff at the Treasury Department and at the Department of Health and Human Services–will be attending the Summit too. Come meet them!
AmpliFund, the StreamLink Software grant management solution, is capable of tracking grant activities and funding through every stage of the grant lifecycle. From identifying opportunities in grant funding to grant distributions to sub-recipients to performance and financial reporting that meets the latest data requirements, AmpliFund Public Sector maximizes an organization’s resources by minimizing its effort.
Through the DATA Act, Congress is legislating data transparency not just for public accountability and better federal management, but for the automation of grant compliance as well. Join us on April 29th to learn more.