- ThinkCap Advisors Team
Consulting Services Offered by a CSR Consulting Firm
Updated: Apr 24
The Indian CSR regulations are becoming more elaborate, which requires Indian corporations to adopt an appropriate approach and method for developing and implementing their CSR strategy. It goes without saying that a properly designed CSR strategy does more than just ensure compliance; it also has tangible and intangible benefits for the brand and the company.
A CSR consulting firm works with an organization to develop and execute a properly defined & structured CSR strategy which not only ensure compliance with the law but also enables the organization to deploy CSR programs successfully and reap benefits from it.
CSR consulting services offered by a CSR consulting firm includes
– Preparation/review of CSR documentation and ideation on CSR projects
CSR consulting firm reviews Company’s documentation such as CSR policy, action plan, disclosures mandated by regulations etc. and suggests modifications. It also reviews existing and new CSR projects proposed for execution by the company from a regulatory perspective and offers the necessary advice
– Devising CSR strategy and Monitoring and evaluation framework for companies
CSR strategy is a comprehensive plan made by companies to design, execute, and analyze their corporate social responsibility initiatives. It includes specific focus areas, program design, promotion and communication approaches and evaluation procedures. A well-designed CSR strategy helps companies to operate with a focussed approach, improve impact and protect their brand.
Monitoring and evaluation are a critical area mandated by the law. A CSR consulting firm assesses execution of projects on ground via review of project-related documents submitted by implementing partners and field visits. It also highlights gaps between planned and actual outcomes and provides recommendations on suitable way forward based on its findings
– Conducting pre-grant due diligence of implementing partners
As part of its CSR consulting service, CSR consulting firm supports in conducting due diligence of implementing partners covering areas such as performance on past programs, staff skill set, systems and processes, data flow and management, governance and compliance related matters etc.
– Undertaking impact assessment of projects
Impact evaluation encourages a long-term perspective on CSR efforts. Companies use Impact Assessment to strategically build their CSR programmes as they are able to measure efficacy of programs which helps in scaling and replicating impactful initiatives in other geographies. A CSR consulting firm undertakes impact assessment of CSR projects to evaluate impact created by projects implemented while also identifying improvement areas in the delivery process