Our primary focus with Impact Solutions is based on digital and data technologies to address challenges that organizations are facing in the impact space.
The organizations in the sectors we are aiming to serve address large, complex and diverse challenges often across geographies. Their work is important but often unproductive or ineffective due to lack of information and right metrics to measure performance.
Green Catapult is working closely with SoPact, a company that we are incubating, to shape or improve data driven impact initiatives and programs for our clients across a number of sectors.
Organizations in social impact space are increasingly emphasizing the importance of tracking and evaluating the performance of the programs and initiatives, which often includes multiple partners.
Funding organizations are looking at traditional portfolio management techniques and social impact measurement as a unified function to increase the effectiveness of their grants, investments or aids. This has led to a shift towards implementing outcome-driven program management and impact assessment strategies.
Outcome-oriented impact assessment strategy can be implemented successfully by following innovative approaches and best practices that are fast, flexible and cost-effective to adopt. Organizations are faced with numerous challenges in impact assessments. It is time consuming to build consensus on outcome definition and accountability. It is laborious to aggregate metrics from disparate data sources. Besides, there are numerous data quality issues resulting in sub-optimal insights.
Adopting industry standard metrics and implementing innovative data management practices will result in overcoming those challenges. Assessing maturity level of an organization in data management practices will help in understanding strengths and improvement opportunities in portfolio management, metrics definition, data quality, reporting & impact assessment.
This holistic understanding can be translated into a time-bound, result-oriented roadmap for improvements.