Social impact investing is commanding growing interest and attention globally. The broad public support for the UN Sustainable Development Goals (SDGs) has captured the public's attention too. Previously social impact was dominated by foundations and the philanthropic sector, fragmented across organisations worldwide or major government led international development aid and development assistance programs. Often these programs and initiatives operated in isolation to one another.
With the adoption of the Sustainable Development Goals the various stakeholders and public have focused on a shared vision for environmental, health and community economic development. Social impact investment has attracted interest and attention from private sector and "mainstream" investors looking to realize a return as well as doing good. Corporate social responsibility (CSR) programs have also contributed, funnelling more resources into this popular and expanding sector.
The United Nations Sustainable Development Goals serve as a critical international consensus framework for the sector. Their widespread support brings an open commitment to see results for the public and private funds invested in social impact. The SDGs provide a common commitment so funding can be more clearly allocated and results measured priorities. With agreement on the 17 common goals it is possible to aggregate results and demonstrate the value of the thousands, if not millions, of local initiatives underway globally.
The SDGs are made more measurable through a shared set of indicators, like KPIs. This delivers a more realistic and tangible set of targets that social impact organisations can work towards, ensuring they are contributing to the 17 SDGs. Progress on the 17 SDGs are evidenced by these 230 official indicators.
The creation of the SDG Index and country reporting dashboards helps provide more detailed data that can influence investment decision-making and priorities. The Index provides a standardised framework for individual social impact programs to target, measure and report on - with comparability. This transparency and focus is a great benefit to investors, supporting clear and shared understandings of progress and impact so investments results are transparent and comparable.
The Index and framework helps identify where attention and resources are most needed. This helps demonstrate where the most value for money may be achieved. They form a basis for quantitative long term comparable monitoring. With this level of detail, a multi-stakeholder approach is more viable as there is a common understanding of the challenges and obligations.
Tactiv has worked in the social impact sector for over 15 years, in natural resources management across Australia, health program reporting with the WHO and international aid development program management with the New Zealand Ministry of Foreign Affairs and Trade. We have seen a lot of change in the sector. Most of this has been positive, with the sector maturing to build more successful relationships, improved accountability and transparency, and expanded capacity with transformative technology.
As the social sector continues to grow its success in attracting the mainstream, investors are dependent on meeting their stringent demands on results. With our flagship product, Enquire Grant Contract and Impact Reporting software, we position social impact managers and their organisations with the ability more easily align, connect, measure and report on their results and align and connect their contribution to the SDGs.
With this capability social impact organisations can better attract the funding they need and more efficiently manage their investor relationships. They can more easily rollup their results to more clearly demonstrate their unique contributions to the high level global SDGs and demonstrate on the ground impact against the indicators.
Contact us for a demonstration of Enquire's powerful reporting and grant management capabilities.
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Enquire Grant, Contract and Impact Reporting Management software streamlines administration, enhances visibility and automates reporting across our 3 easy-to-use online solutions.
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