Overview
The Challenge
Substance were approached by the Big Issue Invest on behalf of the Skill Mill SIB’s investor group to help improve the financial management and outcomes verification process for the SIB.
How we helped
- Strengthening Financial Management and Outcomes Verification: We assessed existing systems and processes to identify areas for improvement and then developed and implemented new processes to ensure accurate tracking of financial performance and social outcomes, aligning with best practices in outcomes-based contracting.
- Providing Ongoing Data and Financial Management Insight to SIB Investors: We facilitated transparent communication between service providers and investors, offering regular updates on financial performance and social impact metrics. This ongoing insight was crucial for investors to assess the achievement of SIB objectives and ensure maximum social impact.
David Parks OBE, Founder and managing Director, The Skill Mill.
“Substance’s expertise has been instrumental in the successful delivery of The Skill Mill’s Social Outcomes Contract. They have a deep understanding of data, and along with their pragmatism and collaborative approach, this been enabled us to clearly demonstrate impact, track progress, and refine our strategy over time.”
“The team at Substance consistently delivered high-quality insights that supported performance management, stakeholder reporting, and decision-making. Their work has been vital in evidencing the value of our social impact and securing the confidence of commissioners and investors.”
