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Common Impact Data Standard   Support documents

Benefits of the Common Impact Data Standard

The Common Impact Data Standard as a system for organizing your impact data. It provides a place for everything so that everything can be in its place. It makes it easier for software to be designed to support better impact analysis. This makes it easier to share and aggregate data.

The benefit of this looks a bit different depending on if you are a social purpose organization (SPO) or an organization that funds or invests in these organizations.

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Benefits for SPOs (charities, nonprofits, and social enterprises)

  • Reduced reporting burdens: SPOs will be able to share easily impact data without reentering information
  • Flexibility: SPOs can choose the measurement approach (collection method, tools, indicator selection) most appropriate to their context
  • Capacity-building: using impact measurement software helps SPOs with their impact measurement and data collection
  • Better impact: with all their data in one place, SPOs will be able to analyze their impact more accurately and comprehensively
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Benefits for funders and investors

  • Easier data collection from investees: avoid the mess of aligning investees’s spreadsheets with their own spreadsheet
  • Easier reporting to wholesaler(s): one simple export!
  • Flexibility: SFIs can use their own outcomes framework and indicators
    Data relevance: SFIs access the best data their investees have
  • Interoperability with other standards: SFIs can use and connect with Impact Norms, SDGs, IRIS+, GRI, ISO standards, etc.
  • Interoperability with existing systems: SFIs can integrate the Common Impact Data Standard within their own IT system
  • Better analysis and decision-making: SFIs can aggregate data, identify patterns and correlations
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