Background
In October 2023, we at whatimpact launched an extensive research report ‘Social Value Manager 1.0’, which focused on the key challenges that sustainability and social value managers face when managing and reporting on social value. Based on the research conducted for the report, it became clear that one of the biggest operational challenges that social value and sustainability job roles face is the vast amount of data they have to collect from different data sources and departments for analysis and reporting.
Six months later, whatimpact is proud to launch ‘Project Waterdrop’. A collaboration project with leading public sector suppliers participating in whatimpact’s technology development initiative. Ultimately, delivering the first social value management dashboard for ALL social value data.
It is now time to empower organisations to take ownership of their legacy to our society in a holistic manner. We named this initiative a ‘waterdrop’ to highlight the power of one action that creates far-reaching ripples.
Over the years, whatimpact has informed hundreds of companies that no platform tracks ALL validated social value deliverables. Many companies develop CSR, ESG, and procurement social value strategies in isolated departments, teams or individuals. This results in a lack of data sharing, comprehensive programs and cohesive outcomes. They often rely on a variety of tools like Excel, shared cloud-based documentation, various ESG/CO2/ social value calculators, and engagement platforms without a unified view of all activities and deliverables. This leads to gaps in knowledge, labour-intensive administration and reporting. And, an inability to monitor the costs and ROI of these investments and resource allocations. Companies frequently overlook contract-specific social value deliveries and outcomes in their overall corporate social value reporting/ESG. This is purely due to a lack of information flow and differentiated target setting.
Project Waterdrop
whatimpact aims to rectify this by launching a user-focused development, ‘Project Waterdrop’. Together, with collaborators, we will build a dynamic platform utilising leading technology. The technology will create connections and analytic methods between different data sources. In turn, presenting ALL social value data in one place.
Project Waterdrop will deliver an holistic dashboard for all social value monitoring and management. In addition to presenting data on social value activities conducted through whatimpact.com, it will present data from other systems that a company may use.
We recognise the need for agile data prompts to facilitate communication and timely data submission from users, departments, and suppliers. Therefore, we are approaching this challenge through collaboration. Firstly with end users in workshops, and also a technology partnership with a Microsoft Partner to deliver operational prototypes.
Our partnership collaborations with companies involved in the project are essential in helping us deliver an agile, module-based system. This system can be tailored to each user without expensive, bespoke development.
Ultimately, we all understand that social value is a fast-evolving concept and needs and deliverables are changing rapidly. Therefore, empowering the users is the key to avoiding extensive costs, whilst supporting every organisation on their journey to deliver social value.
Are you interested in joining?
We are now looking for a dedicated group of committed clients looking to solve this problem through platform solutions! Phase 1 with research and design workshops has already begun, and we are now expanding the number of companies involved. We welcome all organisations who face similar challenges with social value data. We welcome those who are actively looking for solutions to solve these problems and ready to act upon this market-wide challenge!
If your organisation wishes to benefit, join this project by filling out this form.
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Social value as an umbrella concept for social, environmental, and economic value is currently one of the biggest forces changing the business landscape. The fast-escalating climate crisis, as well as a wide range of poverty and inequality-related challenges, are touching us all on a global and national level. In the quest to tackle these challenges, the public sector has put in place voluntary and mandatory policies to change the course of our future. Both through legislation and purchasing power. Private sector stakeholders, like investors, consumers, employees, and governing industry bodies are also demanding more sustainable and transparent business practices. These requirements have created a large number of sustainability frameworks, monitoring and reporting systems.
The UK government has been a frontrunner in harnessing public sector procurement for the benefit of society, with many countries around the world following. It’s been over three years since mandatory social value requirements have enforced (Social Value Act 2012 enhancement PPN 06/20). It created new practices and frameworks for government suppliers to plan, deliver and report on contract-specific social value. This year, the new Procurement Act enhances these requirements even further through transparency requirements and the focus on rewarding the most advantageous proposals.
