The Input and Value of Impact Evaluation for Growing Businesses

All impact investors view impact metrics as fundamental when screening operations. Impact evaluation is crucial for any player in the industry. Data is fundamental because it provides proof of impact. It also enables various stakeholders the chance to manage the process of impact creation per their goals. There are many terminologies and approaches to impact evaluation. The Sustainable Development Goals (SDGs) for instance, provide seventeen goals around which stakeholders ought to align themselves. IRIS+ outlines a variety of impact evaluation resources. There are various taxonomies used for impact evaluation that stakeholders can reference. B Certification and IMP are also popular impact evaluation approaches. Unfortunately, these frameworks mean nothing to social entrepreneurs. All investors and founders want to know is how their growing enterprises can quantify and define the environmental and social impact.

Although an institution may align itself with IRIS+, SDGs, IMP, or B Certification, it is still challenging to understand how these measures quantities. The process is even more complicated considering that some corporations are at an early stage where impact data is nonexistent or scant. ImpactableX makes the process of impact evaluation a lot easier. We use a simplified evaluation framework to dynamically model impact generation. Our methodology aligns itself with acceptable global standards, like IMP, IRIS+, and SDGs. ImpactableX helps the institution to quantify its impact capacity. It also provides access to insights into impact operations. The process, therefore, empowers management teams with the tools required to manage the impact. We use a consistent framework that is designed to capture a company’s unique mission. The methods we use for impact evaluation contain three components.

The process used to measure impact is simple. Our skilled and competent analysts guide company management teams on how to handle every step. The first step during impact evaluation is defining the primary impact metrics. We then examine the model of business that drives the metrics. The process gives us insights into the questions we ought to ask. During the research and data collection stage, we compute impact analytics using third-party data. Our analysts work in cooperation with your management team to solve any assumptions, conflicts, and gaps. For more information, visit their website.