What is Grants Management in SAP PSM-GM - Grants Management?

SAP Term: Grants Management

• Component: PSM-GM

• Component Name: Grants Management

• Description: The component of Public Sector Management PSM that accounts for grants from government and other bodies for the purpose of, for example, commercial or scientific research.

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• Key Concepts: 
  Grants Management is a component of SAP's Project System Module (PSM) that helps organizations manage the entire lifecycle of grants, from application to award to payment. It enables organizations to track and manage grant applications, awards, and payments, as well as monitor the progress of grant projects. It also provides a comprehensive view of all grants and their associated activities. 
  
  How to use it: 
  Grants Management can be used to create and manage grant applications, awards, and payments. It also provides a comprehensive view of all grants and their associated activities. It enables organizations to track and monitor the progress of grant projects, as well as manage the entire lifecycle of grants from application to award to payment. 
  
  Tips & Tricks: 
  When using Grants Management, it is important to ensure that all data is accurate and up-to-date. This will help ensure that the grant process runs smoothly and efficiently. Additionally, it is important to keep track of all grant activities in order to ensure that all deadlines are met and that all requirements are fulfilled. 
  
  Related Information: 
  For more information on Grants Management, please visit the SAP website at https://www.sap.com/products/grants-management.html. Additionally, there are many online resources available that provide detailed information on how to use Grants Management effectively.