Current Situation
Smart Cities require finely tuned funding and grant financing strategies as their funds are typically limited and tightly bound to specific outcomes.
Goals and Objectives
Grants are typically provided to cities to invest in technologies to boost their local trade economies, cities’ critical infrastructure operations, and improve their constituents’ quality of life. Ensuring that funding and grants are channeled to the right investments and are measured for impact will be critical for the long-term success and sustainability of a city.
Technology Deployed
Grant management software, financial ERP software, predictive analytics to improve grants processing agility, payment and disbursement systems, and KPI tracking software
Use Case Summary
Every year, grants are provided to local government agencies and bodies to apply innovative technology-based solutions to solve urban challenges and improve local community livability, productivity, and sustainability. As this funding is very targeted and tied to specific socioeconomic outcomes, it is critical to track the flow of investments, as well as their overall impact on Smart City programs to meet the goals and timelines set. This will provide better traceability and accountability to local taxpayers on what their monies are being spent on.