IMPACTIFY launches marketplace for social sector Initiatives

Impactify, a for-profit social venture announced the launch of a first-of-a-kind digital marketplace within just a year of its foundation. With a potential of 587 crores worth of funding across 2,800+ social sector projects listed on its platform, Impactify is bridging the gap between NGOs and sponsors through its smart marketplace model. Impactify’s new age tech venture showcases projects and pre-vets NGOs on behalf of corporate sponsors. Once matched, the platform’s integrated project management and monitoring interface reduce the administrative burden for both the NGO and the sponsor. Having collaborated with 1000+ organizations, the organizations and its tech-driven offerings have received a tremendous response from both corporates as well as non-government organizations (NGOs).

 

Impactify is India’s smartest marketplace for social sector projects, connecting NGOs with corporates, and sponsors. It solves two of the biggest problems identified by stakeholders in effectively executing their social programs, i.e., credible partner identification and implementation Monitoring Impactify leverages cutting-edge technology to ensure that projects are listed only from verified and credible organizations by assigning them a TRUSTScore the minute they go live, while aiding corporates/CSR sponsor, donors, etc. channelize their funds towards projects relevant to their objectives. On the other hand, Impactify works with NGOs to ensure that all relevant project details which sponsor require for efficient decision making are clearly defined, which includes KPIs, project timelines, budget estimates, beneficiary definition, and expected impact.

 

Speaking on the announcement, Sudeep Gupta, Founding partner of Impactify, commented, “For various industries and sectors, technology has been the biggest driver of growth and modernization in recent times. Modern information and communication technologies ensure that organizations can shed old and inefficient practices, which is precisely what the social sector needs to do urgently in order to enhance its relevance in the present age. With Impactify, we aim at leading the structural change in the Social Sector by enabling the optimum utilization of social spends in India bringing in credibility, transparency, and the desired impact.

 

When we started building Impactify about a year ago, our key objective was to bridge the massive information gap in the social sector by connecting organizations with new-age technology-driven solutions. Given the increasing relevance of CSR and the government’s push for socially responsible business practices in the country, we envision the future of the social sector to be technology-driven, particularly to eliminate the administrative burden prevalent on both sides. To this end, both the scale of funding and the number of projects facilitated through our marketplace are strong indicators of this and will further cement our position in the market.” commented, 

 

Joy Sharma, Founding partner of Impactify

 

With a service-oriented approach and a ‘systems thinking’ background, the founders of Impactify seek to bring global best practices to India’s social sector in its efforts to deliver greater impact. To this effect, Impactify provides digital solutions to organizations in the social development space, from the program conception and proposal stage till the delivery of outcomes, with a focus on ensuring remote accessibility, reporting, and analysis of information throughout. By providing end-to-end services, the company ensures that information travels across all stakeholders and during all phases of the lifecycle of the associated organization: Matching, Funding, Execution, On-ground delivery, Monitoring, and Impact Assessment.

 

After matching, NGO partners use Impactify’s integrated monitoring platform to provide project updates for sponsors to monitor, significantly reducing the administrative burden on either side. Moreover, the monitoring platform seamlessly brings information and data from the grassroots to the boardrooms of corporate sponsors. Such measures not only enhance trust and collaboration between sponsor and NGO but have also shown to amplify the impact of social spends by more than 20%.

 

Further, to help NGOs with their internal communications, Impactify helps digitize and automate various workflows by aggregating live project updates and tracking the utilization of funds. It also provides organizations with customizable MIS (Management Information System) dashboards and systematic knowledge management tools, along with an effective system that links internal team members to their specific roles and responsibilities. Such streamlining of workflows has shown to increase the productivity of organizations by 20-100%, allowing the time and effort saved to be refocused on assessing and amplifying the on-ground impact.

 

Driven by a vision of bringing positive change, Impactify is currently the only player in the social sector which serves both NGOs and sponsors, with its end-to-end services backed by the latest technology. With 2800+ projects currently live on its platform, Impactify is focusing on further expanding its marketplace across the country with a target of 5,000+ projects by the end of FY 2018.

 

About Impactify

 

Impactify is a digital solutions provider to the social sector, including non-government organizations (NGOs) and sponsors. Established in 2017, the firm helps NGOs reduce their administrative burden by providing simple tools to streamline workflows, in addition to assisting them with subject matter expertise to help them enhance the effectiveness of their programs. Headquartered in Gurugram, Impactify works with a wide network of associates from all over India.

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