SPI is the most widely used social audit tool in inclusive finance. Designed to manage and measure financial services providers’ (FSPs) social performance, the SPI is a management, monitoring and reporting tool. For 20 years, CERISE has developed and refined the SPI thanks to user feedback. Our goal? Help FSPs monitor social performance, take informed decisions and improve practices to better serve their clients!
As of today, the SPI online platform counts more than 1000 SPI audits for 600 FSPs, mainly from Sub-Saharan Africa, South-East Asia, Latin America and the Caribbean. That’s literally thousands of people showing their commitment to measuring and managing their social mission! The number of audits increased significantly in 2021 – almost 3 times more than the previous year – reflecting uptake of the SPI digital version launched in May 2020.
Top ten countries using SPI to drive their social performance: India, Ecuador, Benin, Myanmar, Bolivia, Mexico, Philippines, Uganda, Togo and Indonesia.
25% of the audits are supported by the SPM Professionals Network, with SPI qualified auditors. CERISE is proud to grow and manage this network of local experts who are there to support FSPs in the audit process. Working with skilled auditors helps ensure reliable and accurate results, which in turn guide evidence-driven strategic decision-making and better practices.
With the high quality audits, CERISE builds benchmarks and studies for the sector. Benchmarks help investors, networks and FSPs analyze results against peers, build data-driven strategies and communicate on social and environmental performance.
With SPI online, FSPs get all their SPI audits in one place, i.e. on their SPI account, and for each completed audit, they visualize their results compared to a benchmark of their peers (status, region). SPI users can also access more advanced benchmarks for free, available on the CERISE website, to analyze and compare their results in more detail.
Upon demand, CERISE offers customized benchmark reports. These analyzes are useful, in particular for investors, to drive their social strategy. For example, CERISE worked with the Grameen Credit Agricole Foundation to guide the selection of investees; with Kiva, Invest in Visions, Opportunity Internationl and BRAC to define and monitor technical assistance on SPM and client protection; and with the Microfinance Enhancement Facility (MEF) to build reporting and communicate on results (download MEF Impact Report 2020).
Interested in customized benchmarks? Contact CERISE
And remember: SPI is a free tool, and comes with guidance:
- How to use SPI online: live demos, Step by Step Guide and Help Center on SPI
- Conduct an audit: e-learning on RIF Academy portal and Audit Resources
- Any info on Universal Standards: SPTF website