Furthermore, adopting a recognised social value reporting solution conveys that your organisation is committed to delivering value beyond financial outcomes and that investment in employees, communities and environmental improvement are at the core of your business values.
It is common for your clients/key stakeholders to be interested in both the software platform and the measurement framework you are using to track, calculate and report your social value activities.
It is therefore important that you understand that Thrive is a cloud based software platform, and the Impact Evaluation Standard is the brand name for a series of robust metrics and proxy values used to track, and benchmark social value. The two are separate, but the Impact Evaluation Standard can come ‘built-In’ to the Thrive software platform.
The following are ‘boilerplate’ explanations of what Thrive and the Impact Evaluation Standard are, which we encourage you to use directly when discussing the subject matter with key stakeholders: