M&T Bank Optimizes Grant Cycle With Versaic
M&T Bank contributes millions of dollars in support to thousands of non-profits across eight states plus the District of Columbia, and M&T employees volunteer more than 300,000 hours each year. The M&T Charitable Foundation values the personal touch but the volume of requests was making it increasing difficult to maintain their hands-on review process. Both complex and manual, the process left ample opportunity for mistakes and delays.
The M&T Charitable Foundation implemented an online system from Versaic to streamline their grant cycle and optimize resources, while keeping their locally-focused decision making process. The system provided much-needed process management while still making it possible for the team to maintain a high level of personal interaction with community partner.
At M&T, committees review and make decisions about funding requests, a process that previously required days of preparation and many manual steps. Now the application binders are prepared with the click of a button and routed to the right recipients. Since the Versaic system is integrated with the accounting system, requests for fund disbursements are automatic, eliminating yet more steps.
M&T can now track and manage data for quick and thorough reporting and analysis. The Versaic system’s flexible reporting capabilities make it easy to deliver all the reports M&T requires to make better decisions. Applicant data is stored centrally so the Foundation staff can generate reports to analyze their grant making process and effectiveness.
A custom-configured workflow streamlines the process, ensuring that staff are still involved directly with community partners at the right points to help them be more successful. Since applications are more complete and up-to-date information is available on demand, approval cycles are reduced dramatically, making M&T more responsive to its partners.
With Versaic’s solution, instead of spending countless hours buried in paperwork, the M&T Charitable Foundation staff have more time to align their giving program with their mission to build healthy communities. By collecting information online in standard formats, M&T has simplified the application process for non-profits, nearly eliminated incomplete submissions, and made reporting easier for everyone involved.
Versaic has delivered significant operational and program efficiencies for our community involvement efforts. These enhancements have allowed us to improve the quality of service we deliver to our community partners.