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Accounting for Value
Today, Monday 9 December 2013, two online tools are launching which enable organisations to engage with data in new ways. The two platforms, The Global Value Exchange and Data Unity, are both supported by the social investor Nominet Trust, a funder offering grants to projects that use digital technology to make a positive difference to people’s lives and communities.
The SROI Network’s The Global Value Exchange formally known as WikiVOIS, has been in development for a year, and is an open source database for individuals and organisations who are trying to account for and measure the social or environmental value that their activities create. The site enables users to browse and add entries within the following four categories; Stakeholders, Outcomes, Indicators and Values. The new site is unique in that all four areas are linked and users are able to make new connections as well as add their own information.
The Global Value Exchange already includes uploaded information from diverse organisations such as Big Society Capital, the Scottish Government Organisation as well as international indicator databases such as IRIS and GIIN. The new site allows users to comment and rate these entries.
Jeremy Nicholls, CEO, The SROI Network says, "We hope The Global Value Exchange will become an international resource for analysts, evaluators and anybody interested in the outcomes of their work or activities, across all sectors.Sharing outcomes that reflect our experience and sharing the value of those will influence products and services to far better reflect people’s needs".
Data Unity is a complementary tool that allows users to find, visualise and share their data. The site allows individuals and organisations to easily create info-graphics and dashboards based on the information they upload. Users can then explore their data visually to uncover insights and broadcast them to the world via their own websites, blogs and twitter feeds. Data Unity also allows users to keep the data and information they have uploaded private for internal decision-making.
Kev Kirkland, CEO, Data Unity says, “Open Data presents some exciting new opportunities, but many not-for-profit groups are currently unable to take advantage of these as they rely too heavily on technical skills and knowledge. Our goal is to help people use data in their everyday lives by giving them easy to use data visualisation tools. We want everyone to be able to investigate, visualise and share data to empower positive change everywhere”
Ed Anderton, Development Researcher, Nominet Trust, says, “The Global Value Exchange and DataUnity are products which use digital technology to increase the social sector’s ability to collect, analyse and respond to evidence of its impact. Nominet Trust are proud to have supported them to reach this important launch stage, and hope that they both go on to make a significant contribution to the generation of social value in the UK and beyond.”
The Global Value Exchange and Data Unity are both free to use and offer simple, open solutions to those who need it most, empowering their users and putting them at the very heart of their data.
Progressing impact investing in Australia
19th & 20th March 2014 | CQ Functions Melbourne
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Featuring a series of practically focused presentations and interactive sessions, this conference is your ‘how-to’ guide to social finance.
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Hear key contributions from
We are pleased to announce that WikiVOIS have added some exciting new valuations based on the recently updated HSE research paper; "Costs to Britain of workplace injuries and work-related ill health: 2010/11 update".
Over the last two decades, HSE has periodically published estimates of the aggregate costs of workplace injuries and ill health. Up to now the methodologies for producing aggregate and unit costs have not been fully consistent. HSE commissioned new research in 2009 to review and update the previous costing methodology.
Unlike previous estimates, the new cost model aims to reflect the economic costs of workplace fatalities, workplace injuries, and new cases of work-related ill health associated with current working conditions (previous cost estimates also included the costs of cases arising from historic working conditions).
Within WikiVOIS the new valuations have been linked to an outcome called "occupational deaths (change in)". The new valuation entries detail the total net costs of workplace injuries and ill health to four different stakeholders: Employers, Individuals (and their families), Government and Society as a whole.
Within the valuations we have included further relevant information such as a breakdown of approximate unit costs per incident. So, it is now possible to see that the total net cost to an individual suffering from ill health in the workplace is £8,100 per annum.
Ultimately, as with most valuations in the database, the link to the original data source is embedded in the valuation. To access the full report and excel spreadsheet of costs follow this direct link to the pdf report: http://www.hse.gov.uk/statistics/pdf/cost-to-britain.pdf
We hope that this new information will be particularly useful for anyone trying to calculate the benefit of measures that minimise the risk of injuries and ill health. If you think it is useful please add to the debate by rating the valuations or adding a comment in the discussion area.
We look forward to your contributions.
- Big Issue Invest (BII) wins Charity Times 2013 Social Champion Award, demonstrating an outstanding service and commitment to the social enterprise and charity sectors.
- BII, part of The Big Issue Group, supports social enterprises and charities to scale up through the provision of loans and investments, not grants, from £50K to £1m.
- Since its inception BII has invested nearly £20 million in over 160 social enterprises, charities and community organisations throughout the UK.
Big Issue Invest are celebrating their win at the recent Charity Times 2013 Awards. Crowned Social Champion at the Awards Gala at London’s Lancaster London Hotel, the Charity Times Awards are the leading celebration of best practice in the UK charity and not-for-profit sector.
The Social Champion Award was presented to BII for its outstanding service and commitment to the social enterprise sector and its demonstrable positive social impact, which to date includes:
Nigel Kershaw, Chief Executive of Big Issue Invest, said: “We are extremely proud to be named Social Champion at the Charity Times Awards. Big Issue Invest is committed to ensuring that people don't have to resort to The Big Issue because we're supporting pioneering social enterprises that are capable of transforming people’s lives.”
John Bird, Founder and Editor in Chief of The Big Issue, said: “It’s great news when we hear that people recognise the power of prevention in the community. My ambition is always to help the homeless to help themselves; but increasingly we have to prevent people falling into homelessness. This is why Big Issue Invest backs sustainable social enterprises and ventures that help tackle poverty and inequality. Prevention! Prevention! Prevention!”
Charity Times judges said: “Big Issue Invest has shown a consistently high impact across a wide-range of social needs and on a wide geographical base with clear evidence of effect across a wide range of organisations.”
The judging panel included Ceri Doyle, Acting Chief Executive of The Big Lottery Fund, Caron Bradshaw, CEO of CFG, Christian Guy, Director of the Centre for Social Justice and Tris Lumley, Head of Development at New Philanthropy Capital.
BII is a social enterprise itself, paying any dividends generated to The Big Issue, also a social enterprise. This structure helps to demonstrate a commitment to social enterprise and creates credibility and empathy with its target markets.
"Does investing in social value also drive company value? Of course it does. If you’re out for a quick buck you can maximise short term profit, but you won’t last long. Bella Vuillermoz, Sky"
GreenMondays have recently released a report entitled The Wisdom of the Crowd: The Value of Social Programmes, with the main aim of getting a snapshot of how leading organisations are building their social programmes, and the degree to which they are seeking to put a financial value on their social programmes. Our CEO, Jeremy Nicholls contributed to the creation of the report and we're happy to see these reports and issues becoming more prominent. We would of course argue with some findings within particularly in relation to the standard and format by which people can value these programmes. Consistency and using the same yardstick to measure that consistency are key in the eyes of the Network.
Read the entire report here and let us know your thoughts.