SV (Social Value)

Social Value is the additional benefit resulting from investments, initiatives and activities that go beyond the direct delivery of services or products. This value may be generated for the local community, society as a whole, or both. The aim of Social Value in procurement is to ensure contracts are awarded responsibly and with consideration to the wider impacts they can have on our communities and environment. When procuring goods and services, organizations must evaluate potential providers based not only on cost, but also on the impact they will have socially and/or environmentally. Through this process, an organization is able to identify providers which offer the best value to their organization and the community as a whole.