Impact Scorecard is a strategic tool that helps organizations communicate the social impact outputs, outcomes, risk and return that furthers their understanding of alignment of investor’s or funder’s impact thesis with that of investees and/or grantees.
WHY USE IMPACT SCOREARD?
Impact Scorecard is designed for impact ecosystem players such as enterprise, asset managers, public agencies, and nonprofits. With Impact Scorecard organization can -
- Bring everyone to the table through better impact data, story, documents, and field management notes
- Communicate and pitch impact results effectively
- Align results by Sustainable Development Goals, Targets, and Indicators
- Custom Goals and Targets
- Align with Impact Management Goals
- Communicate key indicators and results
- Qualitative Results Analysis - AI-driven stakeholder's voice
The Impact Scorecard serves the following purposes:
- Communicates the social impact of Investments or Projects
- Allow organizations to refine their Impact Strategy to meet any Social Impact goals they may have set.
- Simply the alignment of SDG indicators with the generated Social Impact outcomes.
- Allows comparison of Impact between similar Investments or Projects in a portfolio or comparison with industry standards or peers.
- Clearly Communicate the risks and assumptions recorded in the Impact Strategy.
- Allows to predict or forecast Social Impact based on the Impact Strategy put in place by an organization.
- Managed external services model
IMPACT SCORECARD BRING EVERY ON TABLECollaborate results with stakeholder to communicate results and story
Impact Scorecard not a traditional scorecard for reporting results. It is the most groundbreaking approach that brings both asset managers and assets or grantmakers and grant seekers together using collaborative impact data learning. It allows you to aggregate predefined impact metrics. It helps aggregate due diligence documents, files, images, video, and field notes so that that impact ecosystem partners can provide collaborative impact into the overall process.
Impact Cloud Impact Scorecard is more than just reporting the quantitative outcome indicators. It was designed to report the results to funders in the easiest to understand manner. The scorecard provides an intelligent combination of qualitative and quantitative data that intends to provide deep insights without the need for manual intervention.
Imagine collecting qualitative data from your end beneficiaries and not using it to measure the impact you are creating. Leaving out qualitative data from impact measurement creates a big gap. Impact Cloud lets you smartly combine qualitative and quantitative data.
Impact Scorecard provides the below out-of-the-box
- Alignment of Indicators with SDG goals and targets.
- A quick view of targets, forecast, and actual values (including the difference between targets and actuals) for the output and outcome indicators based on the funder's preference.
- Compare partner's results within your portfolio based on common metrics and indicators.
- Compare your impact results with investments and industry peers through external data integration.
- Combine qualitative data, such as sentiment analysis, from your end beneficiaries, helping to understand your impact beyond just the numbers.
IMPACT SCORECARD FOR FUNDERS
If you are working with retail investors or individual donors to fund specific investment or grantee, you can quickly prepare personalized results for their investment or grantees. Build a strong trust relationship with the individual funder and improve the ongoing relationship.
- Engage your retail investors or donors by sharing the impact report of their preferred investment.
- Raise impact capital by sharing impact scorecard on your website to align with impact goals of investors and impact organization
Build grants report and yearly reporting requirements
A typical program may have more than three programs. Each of them may depend on larger funders. Define standardized organization metrics, core program metrics, and unique funder specific metrics for reporting. Align these results from data collected, and you are done!
Impact Scorecard for Nonprofits
If charity or nonprofits wants to prove the effectiveness of its model to funders to secure grants and standardize the impact measures it reported to different funders.
- Provide consistent impact report
- Integrate appropriate impact story
- Include appropriate impact context of your program
Monitor Country or State Level Progress
As businesses, public agencies, international development agencies and impact investors align around sustainable development goals (SDG), it is important to simplify SDG impact indicators aggregation. Many countries have already started to create their on SDG Tracker.
Examples of SDG Trackers:
- Country level overall SDG tracker
- SDG Goal specific tracker
- SDG Tracker for Public-Private Initiatives
Impact Rating is Not Impact Scorecard
Many examples of impact ratings
Many impact rating organizations define standardized impact through governance, social, and environmental metrics. While this rating based approach allows
Leading Impact Rating Systems
MIX Market - Financial Inclusion Data, Analytics, and Insight
- Impact Investment - GIIRS
- CDFI - AERIS.
- Social Performance Task Force
How Impact Scorecard Is Different
Impact Scorecard does not paint every business or nonprofit with the same broad brush. The impact rating system's challenge is that it often has similar metrics but fails to see that social impact is context-sensitive. Every entrepreneur, business, or nonprofit should be allowed to define the context and social impact outcomes. Impact Scorecard allows to uniquely define the impact of program, product, and services.
More than Results Scorecard...
Clear Impact and SoPact both have Impact Scorecard. However, their purposes are completely different.
Remember SoPact Impact Scorecard is
- Impact Measurement & Management Platform
- Clear Impact Is self-reporting only. Must calculate results outside the platform and enter results manually
- Start your impact journey with the theory of change
- Clear Impact - no concept of theory of change
- Save time with global impact indicators
- Clear Impact has
- Only custom indicators
- Limited reporting format
- Limited qualitative and quantitative alignment
- Clear Impact has
- Aligns with sustainable development goals (SDG) and global indicators
- No concept or scope of SDG alignment
- SoPact Impact Scorecard simplifies funder level portfolio data aggregation
- No such concept
- SoPact Impact Scorecard automatically integrates program data
- No such concept
- SoPact Impact Scorecard is integrated with powerful state of art qualitative and quantitative analytics