Ernst & Young LLP (EY US) announced that its EY Grants Accelerator platform, an AI-enabled platform intended to transform the way governments manage and disburse critical grant funding, has earned FedRAMP (Federal Risk and Authorization Management Program) Authorization. This reportedly confirms that the solution meets FedRAMP’s security and compliance standards and paves the way for government agencies “to adopt EY Grants Accelerator so they can efficiently manage grant funding.”
Amy Fenstermacher, EY Global Grants Technology Leader said that they see FedRAMP authorization for EY Grants Accelerator as a “critical step in helping government agencies navigate the complexities of technology adoption for grants.”
Amy added that this platform will support agencies in “accelerating their modernization efforts, reducing bureaucracy and focusing on what matters most — their mission of delivering programs to their communities.”
As grant makers look to consolidate operations across offices and components, EY Grants Accelerator can “help agencies look across their grants portfolio to identify performance patterns and opportunities to deliver value.”
The US government disburses $1.1 trillion “annually in grants, and government leaders tasked with tracking these funds must rely on manual systems to do so. In many cases, these outdated tools are not only difficult to navigate but are also vulnerable to fraud and cybersecurity risks.”
The EY Grants Accelerator, built on Microsoft AI business solutions, uses AI and automation to consolidate “disparate grant programs in one place and frees up grant managers to focus on program impact rather than paperwork.”
The platform helps government leaders “manage the entire grant lifecycle” and includes:
- Fraud detection and analytics to proactively identify potential fraud or misuse of funds
- Customizable dashboards and real-time reporting to provide greater transparency and mission visibility
- Integrated governance and compliance to handle the complexities of federal grants funding
- A mobile-accessible external portal that streamlines the application process for grantees
The EY Grants Accelerator is now listed on the FedRAMP Marketplace.
As noted in the update, EY says that it is building a better working world by creating new value for “clients, people, society and the planet, while building trust in capital markets.”
Enabled by data, AI and advanced technology, EY teams help clients shape the future and “develop answers for the most pressing issues of today and tomorrow.”
EY teams work across a full spectrum of services in “assurance, consulting, tax, strategy, and transactions.”
Currently being supported by informative sector insights, as well as a globally connected, multidisciplinary network and diverse range of ecosystem partners, EY teams can provide services in “more than 150 countries and territories.”