Insights into the Identification, Quantification, and Management of Impact

The marketplace is a competitive environment for startups. Without a strategy, your business will fail miserably. Fortunately, there is an enormous social capital asset waiting to get seized by growing businesses. Through impact evaluation and reporting, we can identify the impact potential of an entity and undertake strategic measures to achieve success. Stakeholders in the space of impact creation want transparency during the screening of activities and data-driven policies when making decisions. Every impact investor knows that impact metrics are important during due diligence and screening. Impact evaluation has become a requirement for everyone in the industry. Numbers provide proof of measurable impact. It also enables various stakeholders to supervise the creation of impact in line with their goals. There are many different terms and approaches to impact evaluation.

Most of us would be familiar with United Nations SDGs (Sustainable Development Goals). SDGs outline seventeen goals that stakeholders agree to align themselves to. IRIS+ outlines various impact evaluation resources, notably their primary set of metrics. They are impact metrics that stakeholders use to reference similar measurement units. IMP (Impact Management Project) has also outlined five impact dimensions that drive convergence around the units that should get measured. B Certification is a mode that uses popularly identifiable certification marks. It evaluates the impact generated through the operational footprint of a company. Impact funds and social entrepreneurs consider the frameworks to be of no value in the process of impact evaluation.

What founders want to know is how the various frameworks quantify environmental and social impact derived from sales. Although startups can align themselves with IRIS+, IMP, SDGs, and B Certification, it is hard to know how this measures quantities. The universal standards provide little insight when primary data is nonexistent or scant. Unlike other social impact evaluation companies, we use a simplified framework to measure impact. ImpactableX uses a dynamic evaluation framework that aligns with the universal standards. Our objective is to help companies identify and quantify their impact capital. We also give startups access to insights for the management of impact.