Introducing Funds: A New Feature to Track Applicant Awards

Submittable’s new Funds feature is the easy way to track awards and payments, stay on budget, and always know your current capacity to give. 

This week, we’re delighted to release a feature we think will be a major problem-solver for Submittable users: Funds, which gives you the ability to track the awarding and distribution of funds to applicants within the Submittable platform. 

What can I do with Funds? 

With Funds, you can:

  • Create funds. Create as many funds as you need, and specify the fund value. 
  • Award funds. Award dollar amounts from a fund to an individual submission or application.
  • Communicate with applicants. Email recipients about the awarding or payment of funds within Submittable.
  • Track funds. Keep track of the awarding and distribution of funds, as well as funds remaining available. 
  • Pay flexibly. Awards and payments are tracked separately, so you can pay on your own schedule or in installments as desired. 
  • Record fund activity. All transactions are recorded so you will maintain a clear and consistent audit trail. 
  • Visualize fund availability. Access a dashboard that provides a graphical representation of funds available and awarded. 

Everything about the Funds tool is designed to make the process of awarding and distributing funds easy and transparent. At a glance, you can verify the dollar amount available in an individual fund, or check the giving capacity of the whole organization. That means that you’ll never again waste time trying to figure out the funds available to be awarded. 

How can Funds help me and my team?

Funds is the perfect tool for:

  • Grant organizations tracking awards and payments to their grantees. 
  • Academic institutions tracking scholarships and fellowships. 
  • Companies managing corporate giving programs. 
  • Contests awarding cash prizes. 
  • Incubators and Accelerators funding entrepreneurial programs.
  • Organizations ensuring their campaign stays on budget.

How do I add Funds to my account?

Funds is a paid feature that you can add to your account by contacting our account management teamThey’ll be able to answer any questions you may have and give you tips and ideas about how the Funds feature can improve your process.

Also new at Submittable

Here at Submittable, we are doing our best to keep bringing you amazing new tools to make your collection, review, and selection of submissions and applications process smooth yet powerful. In case you missed it, we also recently added:

  • Review Workflow, a new tool you can use to create multiple rounds of reviews.
  • Updates to Gallery, a popular feature that is now even more flexible and includes public voting tools.

Have questions? Your account manager would love to answer them!

Natalya DeRobertis-Theye

Natalya is a product marketer at Submittable focused on helping organizations get a ton of value out of the platform. She is a bookworm, adventure enthusiast and card-carrying cat lady as well as a writer and yogi.