The latest global trends in social impact measurement, management
Are you a chief impact officer overwhelmed by a new impact knowledge ecosystem of many impact knowledge sources and maze of standards, framework, and tools?
Impact Knowledge Graph is a publicly available resource (designed with free impact strategy application within Impact Cloud ) that allows you to search and modify your entire impact management strategy with structured knowledge and unique impact for each initiative or program. This Impact knowledge Graph is shareable, has clear impact statement, built quickly, has elements of evidence, risk, and assumptions.
SoPact collaborates with leading knowledge sources and integrates them in a structured, open source and easy to use form. Impact Cloud appropriately combines impact themes, strategy, evidence map, and indicators. Impact Practitioners, Chief Impact Officers, and organization leaders can start with out-of-box impact themes from GIIN or create own based on a library of impact themes & impact strategy based other out of the box impact themes. Asset Managers and Assets can share and collaborate with a structured impact knowledge graph and align with their internal goals.
Refer Impact strategy for more information.
To summarize the impact knowledge graph (i.e., impact strategy) consists of -
Out of box Impact Themes
Theory of change
Global Impact Metrics Catalog
5 Dimensions: Impact Management Project
Now that impact knowledge graph packages structured knowledge, it’s time to make them actionable.
Customization Based Systems: Many legacy custom applications require software vendors to modify business objects. Hence, the user has to rely on the software vendor to customize the code based on a programmatic approach. .NET, Java or legacy client/server application fall into this category.
Hybrid Systems: While systems like Salesforce CRM can configure, each Salesforce instance must be customized by expensive Salesforce developers (either in-house or by an external consultant). For example, if you want to upgrade from IRIS 4.0 to IRIS 5.0, you must rebuild your metrics catalog. There are advance services possible but building business user-configurable system that is flexible takes a lot of effort. Most social sector organizations cannot develop such software.
Business User Driven Configuration: No developer configuration needed: Impact Cloud is designed in such a way that any user can configure business rules without any technical knowledge. It is at least ten times faster to implement than Salesforce and easier to maintain.
While this usage is relatively common some larger organizations have started to adopt Salesforce and other custom development tools.
Impact data are quite dynamic and context-sensitive. Accurate data aggregation requires a flexible system. There are many challenges of aggregating results from different partners (grantees, investees or programs).
Has any foundation or funds successfully deployed Salesforce or other custom software that can scale to hundreds of grantees or investees and aggregate qualitative and quantitative results unique to each of them?
Sopact Impact Cloud ® is one the most flexible, comprehensive and easy to use platform that simplifies various frameworks and standards and makes it easy to engage different stakeholders. Not only different entities below can aggregate results, but it also provides an amazingly easy to use data aggregation at the hub and spoke level. Below are a few examples of a few hubs.
At the spoke level Impact Organization working close to programs can easily aggregate system data from any data sources and simplify report aggregation.
Theory of change led applications of Impact Cloud simplifies impact reporting for funding or portfolio organizations or program organizations working close to beneficiaries or stakeholders. The platform is designed to encourage a better social impact knowledge collaboration and simplify due diligence, portfolio management, data management, and lean data analytics.
The journey start with creating Impact Knowledge Graph as described in Impact Strategy. As described in Impact Strategy, organization can start with publicly available, sharable or new Impact Knowledge Graph.
Impact Knowledge Graph consist of,
Build portfolio investee, grantee and projects so that portfolio level summarization and visualization is available
Comprehensive ways to aggregate impact data back from partners
Assign funder specific metrics to each project and start building report for each in a short time
Integration with most mobile offline data collection application
Master Data Management - Cleanse, Transform and Merge
Aggregate results from and unify results under single data sheet for a complete analysis
Build a flexible impact scorecard (qualitative, quantitative) and analytics (visualization) that provides deeper insight into partners results, comparison between similar partners and results over a long period
Impact Scorecard: Build a dynamic impact scorecard based on the appropriate filter. Each partner or aggregated partners can show results by SDG Goal, SDG Targets, Indicators, Baseline, Target and Actual results data (for individual partners)
From well-tested and reporting framework and template build impactful report for different stakeholders.
1) Impact Investors,
4) Internal Team etc
SROI Application uses all the results from stakeholder data and survey results and calculates results as defined by Social Value International (SVI) 7 Principles of SROI. This application is certified by the SVI.
Impact Cloud allows you to scale your partner ecosystem by gradually scaling the data capacity of their partners (grantees, investees or projects)
Build a comprehensive theory of change led impact strategy that aligns with public impact themes and standards that allows measuring each partner (investee, grantee, project) results and aggregate
Provide an appropriate data security and access
Partners can decide access to different types of data:
Impact Practitioners are encouraged to use Free Impact Strategy application within Impact Cloud. This application allows to not only reuse public knowledge but allows to create additional knowledge similar to Wikipedia. SoPact aim to build a bridge between strategic impact standards bodies and impact practices to simplify the use of standards and framework and create an ecosystem provider who can collaborate to grow the space by making it actionable.
We encourage any impact practitioners to
Develop new impact themes and strategy in an open source approach
Develop new impact themes and strategy for a client
Start pre-packaged impact themes and start to build rapid applications, such as
SDG Tracker for rapidly aggregating results.
Early-stage impact startup with limited resources and no impact data can use evidence library, SROI and impact management approach to build effective short impact report to align with impact investors.
Work with funders to implement impact data aggregation program.
Work with nonprofits and social enterprise to build a simple data collection & aggregation system.
Work with nonprofits and social enterprise to build outcome management or social impact assessment approach.
Work with impact investors looking to start on impact strategy to refine impact strategy and reporting -- acting Chief Impact Officer!
More ideas or Feedback? Please provide more ideas through our contribute process! Learn More about Unifying Impact Ecosystem
Read More: Why and when to opt for Impact Consulting?
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