Yesterday, the House of Representatives ratified the Data Act. It had previously passed the Senate. Now the bill will march up to the President’s desk and hopefully become law. There is no reason the President will not sign it. It costs $200 Billion to manage $500 Billion in grant money.
The Data Act will force government, and everyone that interacts with it, to become more accountable for spending. It provides more transparency.
By replacing inaccessible documents with standardized, searchable data–freely accessible to all–the DATA Act will create better transparency for taxpayers and citizens; improve federal management by illuminating waste and fraud; and reduce compliance costs by automating the creation of reports by grantees and contractors
Hopefully it will work. There is a company I am invested in called StreamLinkSoftware. They have been active in the space for a couple of years already. Amplifund has saved governments millions of dollars. The operations inside government for getting money out via grants is a lot more efficient when people use Amplifund. StreamLink has another product, BoardMax, that creates efficiencies in non-profit and NGO board rooms as well.
StreamLink wrote a white paper about the benefits of automating the grant process. Here is what they said in their blog yesterday,
The technology is already available to employ big data analytics and compliance automation once standards are in place. Therefore, while the DATA Act will take several years to execute, proactive grant recipients can reap the benefits much sooner. By implementing grant management software now, organizations will be able to automate reporting as soon as new data standards are released—much earlier than others
It is time we bring efficiency to a lot of government. StreamLink brings that efficiency. Hope your organization can use it, or you tell someone about it.