Housing associations UK wide are set to benefit from a new impact measurement tool developed by tech-for-good agency Reason Digital. The Impact tool is already being deployed by law firms, financial institutions and higher education institutes.
Impact, a platform to help organisations to track, manage and report on their social return on investment (SROI), is making inroads into the social housing sector.
The cloud-based tool helps housing associations to save time, prevents scouring old spreadsheets and PDFs for old data, and ensures that no social value is missed out in social landlord annual reports.
By systematically delegating, collecting and grouping the input of social impact data into a single central depository, the tool means that reporting on social impact is less time-consuming, instead allowing hard-pressed housing association resources to be spent more effectively.
Impact also allows landlords to ‘convert”’ units, meaning they can automatically turn simple core business tasks, such as insulating properties or providing back-to-work schemes for tenants, into meaningful reporting-standard data (such as CO2 saved or pound of social value generated).
Developed by pro-social innovation agency Reason Digital, the tool addresses the need – particularly for those within the social housing sector – to produce increasingly robust, meaningful and precise figures reflecting their SROI.
Impact product manager Chris Farrell said: “We created Impact as a way for organisations to monitor their social impact performance just as easily as their financial performance. It’s quicker and more engaging; increasing the amount of activity and removing administrative burden from managers, and improving employee engagement – through leaderboards and social sharing.”
Reason Digital already has been a track record of working on impact measurement tools, most recently in a joint project with impact investment bank ClearlySo, which in March scooped the first annual DigitalAgenda Impact Award for investment.
Reason Digital has already worked on digital transformation projects for a number of housing associations, building up extensive knowledge of the challenges they face, and the solutions required.
It says it made sense to follow this up to create a single, flexible tool to address the data capture and reporting needs inherent in a sector for which accountability and transparency are increasingly important themes – to tenants, internal stakeholders and the government’s Home and Communities Agency.
Anton Schultz, social investment manager at One Manchester – one of Impact’s first users – said: “It’s simple to use, flexible and adaptable to our business. Impact provides a central accessible place to log, store and view, all our outcomes and impact data. It fixes One Manchester’s issues with the inaccessible and inconsistent data across the organisation on social outcomes and impact.”
To learn more about Impact, request a demo, or hear more about what it can do to help capture and increase your organisation’s social impact, visit www.ImpactReporting.co.uk or send an email to email@example.com.