The rise in social impact funding is putting a much-needed focus on effective impact measurement for internal decision-making and external transparency. Current approaches are often time-consuming and limited to financial output. Metrics or inconsistent data collection, which negatively impacts our mission goals and beneficiaries. Employees, individual donors, corporate donors, CSRs, Foundations and impact fund investors need better understanding of organizations. Though many Monitoring & Evaluation (M&E) tools are widely available today, most of them are focused on collection and analysis. Unless we foster close collaboration between CSR, Impact Funds and Foundations and social sector organization (grantee and investee), the M&E will have a limited role. The primary goal will be to create community applications that improve the outcome for communities success by improving knowledge and automation within a community. Our goal is to automate key interaction model between various related entities.
One option is to use it to direct capital: It is difficult for funders/investors to know whether scarce capital is being directed toward the most promising social sector programs. And there is no denying that this difficulty makes it much harder to raise capital for these programs that could really make a difference.
Funders can collect and measure eco-social impact and financial outcomes through a complete portfolio and outcome management services. Our innovative services allow investees (social sector organizations) to collect appropriate data & metrics based on maturity level of investee.
Depending on objectives data can be presented in simplified, self-generated and powerful visualization. Users such as employees or community can make a better decision about organizations overall impact or their personal contribution. On the other hand, larger institutional users can use one the most advanced analytic to measure, benchmark various Environment, Social and Governance (ESG) metrics.
SoPact's Impact CloudTM is a comprehensive platform to measure social impact measurement. SoPact encompasses leading industry standards and yet is easily customizable. Our innovative approach and vision is to build better social sector with their increasing need for more effective financial + social measurement, reporting and storytelling. To achieve this goal, we have identified collection of use cases (though more are possible).
- Foundations/CSR (Hub) and Non-Profits (Spokes)
- Social Ventures or Impact Funds (Hub) and Social Enterprises (Spokes)
- Social Enterprise (Hub) and Remote Franchisee (Spokes)
- Measurement Agencies (Hub) vs SMB/SHBs (Spokes)
SoPact TurboMetrics is Morningstar of Social Impact Measure What Matters & Demonstrate Impact Effectively SoPact TurboMetrics is an innovative application platform designed to improve a better measurement agreements (and thus context) through rich collaboration.
Improve language of measurement: The current landscape of impact investing, program-related investments (PRIs) and grant making have to deal with hundreds of measurement tools, framework and tower of Babel. Navigating from these is very difficult for most. Instead our approach is to provide a tool to measure what matters, a collaborative process that focuses on improving consistency within their own internal ecosystem (grantor vs grantee and investor vs investee).
Improved integration between Financial + ESG Outcomes: Ease of use standard based financial reporting and simplified ESG indicator selection allows to see unified view of program and financial data to staff with different objectives.
Improved Tracking between investors/grantors and investee/grantees: SoPact is designed to view all partners (investee/grantees) for their core tracking indicators, survey, reports and core objects. These tracking indicators have built-in reminders based on predefined frequency. In addition, both sides can view aggregated data and visualization for a rapid course correction. Our base system is designed on a world class Salesforce platform, which allows organization to further integrate their internal processes including financial data.
Out-of-box Collaboration Objects: SoPact leverages Salesforce community to improve collaboration and data collection through prepackaged services, reports and forms. These objects are designed based on standards but customized through our services.
Demonstrate the value of individual investment post-investment: This is perhaps a most exciting component that allows customer to define integrated self-serve visualization for external users such as donors or other agencies. In additional, SoPact integrates with powerful digital marketing & internal powerful data aggregation and visualization that can be selectively shared with external users.
Excited? See if Impact CloudTM is suitable for your requirements to measure and manage what matters and demonstrate effectively.
Written by Unmesh Sheth
Unmesh is the founder of the SoPact. SoPact is a personal vision that grew from 30 years of experience in technology, management, and the social sector.