Importance of CSR MIS & Monitoring Platform
They say that when the wind blows there are those that build walls and then there are those that build windmills. CSR in India has come under an official framework since 2014 when the government mandated that large private and public firms spend at least 2% of their net profits on special developmental projects.
In India, huge conglomerates and corporate companies such as Tata, L & T, Wipro has long been investing in CSR projects as a part of their company culture. Thanks to the mandate of the government, a large percentage of companies are within the sphere of CSR to invest in projects that would fulfil their corporate responsibility and enhance their public image.
With reports showing a CSR spend increase by 47% since 2014, it is imperative that a transparent and efficient monitoring platform be implemented by companies to ensure that their investment is being spent optimally.
Why do Corporates & Companies need a CSR Monitoring Platform?
CSR projects are often traditionally handed out to NGO’s and social organizations that work at the ground level. One of the major issues that most corporates face with this decision is the inefficient way the project data is captured. It has been found that this inefficiency inherently cripples the project in hand because most NGOs are unable to get the beneficiary data and the inability to show tangible results and analysis, most often results in termination of projects (even when they have yielded good results).
All types of development projects whether they are rural-based, skill-development, education, sanitation, health, agrarian-related etc. need to be monitored rigorously. A wide variety of information and data need to be collected on the ground level and analytics generated to compare, contrast, track and monitor the progress of the projects. Reports and analytics about the impact of the project and the ground-reality of these initiatives are essential for the corporates to take an informed decision about how their money is being spent and the whether it is yielding the desired impact.
We found that the inefficient collection of project data by NGO workers is due to lack of internet connectivity at the ground level, inadequate understanding of technology and the English language.
Redefining Efficiency & Transparency
There are hundreds of project monitoring tools available online but ‘CSR in India’ is a niche that SoulAce has focussed for over a decade. Our understanding of this sector stems from experience and focussed activities undertaken on behalf of many companies pan India. That’s why we designed a web & mobile platform for companies to track their CSR initiatives across different geography and causes.
The platform redefines efficiency and helps the corporate entity to track their CSR initiatives in real-time in a transparent manner. It provides a centralized MIS system for all types of CSR initiatives and provides macro and project level micro analysis about various aspects of the project(s).
By providing access through web and mobile, it becomes easy for the NGO workers to record the work done on the ground level in an optimum manner and in a language of their choice. Generating budget reports, annual spend analysis and customized reports becomes systematic and easy and the platform also provides tools to publish impact stories, project photos and videos about CSR initiatives and projects.
The key differentiators that set this CSR Monitoring platform apart from other products is the field training provided for the NGOs to facilitate seamless data entry. The platform provides seamless integration of projects across thrust areas achieved within 24 hours and automated reports.
For corporate entities and conglomerates, this platform provides easy access to and provides in-depth analysis of beneficiaries, budgets and geographies where the projects are being implemented. For the CSR team in the companies, the platform offers the data in an intelligible manner complete with KPI definition and the status of each project and facilitates instant communication on projects with the NGOs. For the finance department, it provides budget information within a click allowing the company to take an informed decision about their projects and initiatives.
Where the NGOs are concerned, such a platform will bring in much-needed efficiency into place. From real-time data reporting & tracking to submitting budget sheets and fund utilization documents, the platform provides intuitive tools for the organizations that facilitate a seamless process. Integration with a mobile app allows the grass-root workers to record data even as they are at the project location.
Designed with tools that would simplify the tedious process of project management, SoulAce’s CSR Monitoring Platform is an intuitive application that packages their decade-long experience in the sector.