Economic Impact Report
Quantify Your Procurement’s Economic Impact With STARS
Demonstrate the tangible economic contributions of your procurement activities with a comprehensive, data-driven report by STARS
Trusted by 100+ Fortune 500 Companies:
What Why How
Understanding Economic Impact Report
What Is It?
Economic Impact Reporting helps organizations quantify their procurement’s contributions to local and regional economies by analyzing direct, indirect, and induced effects, including job creation, income generation, and growth.
Why Is It Important?
- Lack of Visibility: Organizations struggle to demonstrate their real economic contributions.
- Ineffective Stakeholder Engagement:Difficulty conveying value to stakeholders and communities
- Regulatory Compliance: Challenges meeting CSR or compliance requirements.
How Does STARS Solve?
Our solution analyzes annual procurement data, applies industry-standard economic models like Input-Output, and produces a tailored PDF report that provides detailed insights on your procurement’s economic impact across sectors.
Data That Drives
Proven Results from STARS Economic Impact Report
Diverse Spend Analyzed
Diverse Suppliers
Happy Clients
Years of Experience
Features Overview
Understand How Your Team Impacts Local Communities
Advanced Economic Modeling
Leverage industry-standard Input-Output models to assess direct, indirect, and induced impacts of your procurement activities.
Tailored Report
Receive a customized report to showcase economic contributions, tailored to your brand and audience.
Data-Driven Insights
Access comprehensive reports offering real-time data, insights, and projections without needing a portal, all delivered in tailored reporting formats.
Employment Impact
Understand the job creation generated by your procurement spend, including direct and indirect employment effects.
Supply Chain & Local Region Impact
Analyze the effects of your spend across the supply chain and local communities, illustrating your economic contributions.
Diversity & Tax Impact
Measure diversity spend outcomes and the tax contributions your activities bring to regional economies.
Exceptional Customer Support
Clients Love Our Multi-Channel Customer Support & Training
Accurate Economic Modeling
Quantify Economic Contributions With Input-Output Modeling
Use advanced modeling techniques to measure direct, indirect, and induced impacts, from job creation to economic growth in your communities.
- Tailored models to fit your procurement spend data
- Daily updates as procurement patterns change
- Analysis at the local, regional, and national level
Effortless Reporting
Customizable Reports For Easy Stakeholder Communication
Generate detailed reports that showcase your procurement’s economic impact in an easy-to-read format. Perfect for sharing with stakeholders and regulatory bodies.
- Custom templates to align with your brand
- Easily exportable reports (PDF, Excel
- Charts and visuals to highlight key metrics
Impact Across Regions/Sectors
Tailored Insights Across State, Region, Business Unit, And Commodity
Our solution combines macro and micro analysis, using an Input-Output Model to assess impacts like GDP, employment, and income. See how your diversity dollars affect local economies down to specific regions or sectors.
- Analyze impacts by state, region, business unit, and commodity
- Industry-standard model approved by the Department of Labor
- Tailored insights for meaningful decision-making
Why STARS?
See Why So Many Clients Trust STARS
Join more than 100 Fortune 500 companies and several Government and Certifying Agencies experiencing STARS.
Tailored Portal Workflow
Customize the portal to fit your specific workflow needs, ensuring the system works for you.
Branded, Secure Private Portal
Your portal is unique to your brand and protected by industry-leading security measures.
Custom Reporting
Dynamic report-building tools let you create custom reports to fit your exact needs.
Global Capabilities
Our platform supports organizations worldwide, ensuring seamless operations across borders.
Multi-Channel Customer Support
Our exemplary customer support and training ensure your success.
Global Capabilities
STARS Supports Clients Globally with Non-US Economic Impact Analysis
Industries Served
Supporting Your Industry
STARS supports 100+ clients from government agencies to large healthcare and manufacturing clients with tailored solutions to meet the diverse needs of various sectors
Healthcare
Government
Retail
Manufacturing
Technology
Energy
Client Success Stories
See What Our Clients Say
One of the most impressive aspects of our collaboration is your willingness to customize the systems and solutions to perfectly align with the unique needs of our organization.
We were not used to the type of prompt customer service that is being provided by you; our last provider took at least 48 hours if not more to even respond to one of our questions.
The VIVA Team listens to customer feedback and makes needed adjustments. Their support team provides very quick responses. This level of customer service isn’t often experienced.
We are impressed by the flexibility and customer-centric approach demonstrated by VIVA
We've Got Answers
Frequently Asked Questions
STARS uses Input-Output models to calculate direct, indirect, and induced economic impacts.
The Input-Output Model analyzes procurement impacts by evaluating microeconomic data to predict broader macroeconomic outcomes such as GDP, job creation, and income growth. It’s a proven model endorsed by the Department of Labor.
Yes, the report is fully customizable, including data points, and visuals.
The system updates data in real-time, reflecting changes in procurement activities to provide up-to-date insights on economic impacts.
Measure Economic Impact
Visualize Your Diversity Spend Impact Down to The Local Level