How to talk about the Impact Evaluation Standard
and Thrive
Many clients/key stakeholders are now demanding that you adopt a recognised way of valuing the social value your organisation is creating, and also that an auditable software solution is used to track the work you are doing.
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:
“Thrive is an online software platform specifically designed to help organisations track, audit and report on all of their social value and broader ESG activities.
The platform is used by some of the largest organisations in the UK to report on their environmental, social, and economic improvement activity.
The platform can be tailored to the social value objectives of individual organisations by providing flexibility over what social value ‘metrics’ are monitored. The system collects data and evidence – automatically – from key stakeholders both internally and from your supply chain. All this information is stored centrally for better audit, governance and transparency and to provide ease of reporting.
The platform helps organisations to drive continuous improvement by setting goals and targets and then assessing and valuing them in real time.
For more information refer to https://www.thrive-platform.com/
“The Impact Evaluation Standard (IES) is a proprietary framework designed to help UK organisations measure and value their social value activities.
The framework is a collection of 121 metrics and supporting guidance which has been developed by industry experts in accordance with the UK Government’s Green Book Guidance and which aligns directly to, and builds upon, the UK Government’s Social Value Model.
The framework includes a range of custom ‘Proxy Values’ which allow organisations to convert the social impact they are creating into an indicative financial value. Collectively the metrics, proxy values and guidance provide a transparent, consistent and auditable model for tracking and valuing many business activities.
For more information refer to: https://impactevaluationstandard.org/”
Did you know?
Thrive is the only software platform accredited to use
the Impact Evaluation Standard
Contact Thrive
Ready to find out more?
If you would like more information about Thrive or the Impact Evaluation Standard, or are not clear on how to explain it to someone else, we would be happy to talk you though it.
Contact us to learn more.