Smart Innovators: Social Impact Solutions

Executive Summary

Over the past few years, social impact has risen in prominence, due to global events and mega-trends changing the ways that firms operate, as well as growing attention being paid to the social pillar that comprises part of the ESG scores for investment decision-making. This report provides a benchmark of social impact solutions as part of a broader ESG ecosystem. The study defines the scope of social impact solutions and assesses the capabilities of 46 social impact solutions providers for corporate buyers seeking to enhance their social impact, drive purpose within their firms and offer a better employee experience. Verdantix analysis finds that a wide variety of software vendors are operating in the social impact solutions space. The four categories of social impact solutions defined in the research are: 1) diversity, equity and inclusion (DEI); 2) corporate philanthropy and social impact investment; 3) stakeholder engagement; and 4) employee experience. CSR, ESG, human resources (HR) and sustainability functions should use this report to inform the adoption and integration of social impact solutions into their digital ESG ecosystems.