How Your Company Can Accrue Financial Gains through Impact Evaluation

 Numbers are fundamental in claiming impact. Data gives us precise proof points and makes it possible to manage the impact following the set goals. There are many different terms and approaches to impact evaluation. The SDGs (Sustainable Development Goals) underscore the seventeen standardized goals to which stakeholders align themselves. IRIS+ has a set of impact evaluation resources, notably their primary metrics, which allow stakeholders a chance to reference similar measurement units. The IMP (Impact Management Project) provides their five impact dimensions that drive convergence on what ought to be measured. B Certification is a widely recognized model that evaluates impact creation through the operational footprint of a company. For those who are impact funds or social entrepreneurs, the impact modeling criteria offer little to no guidance on impact evaluation. It is hard to understand how a small company can quantify the environmental and social impact emanating from sales.

Startups may align themselves to IRIS+, IMP’s five impact dimensions, and SDGs but still fail to understand how this measures quantities, especially during inception when impact data is nonexistent or scant. However, impact assessment from ImpactableX will make the process easy. ImpactableX offers a simplified framework for impact evaluation. The approach used will dynamically model generation of impact following the acceptable global standards set by IMP, IRIS+, and SDGs. Our goal is to help startups quantify and define their potential. We also give companies access to the primary levers to empower them with the tools necessary to manage operations accordingly. Our framework offers consistency and gets tailored to identify and work towards the company’s mission.

There are three components to our impact evaluation methodology: Attribution, definition, and valuation. ImpactableX will define the primary impact metrics of your company. These are the expressions that are measurable and that define the value proposition of a company. We will evaluate the extent to which services or products produce environmental or social impact compared to the baseline. ImpactableX will also assess the economic consequences of the impact generated. Ultimately, this will translate to financial gains for the company. Find out more about ImpactableX through their website www.impactablex.com/impact-evaluation.