Don't annoy people with jargony usage.
Although "impact" has taken root in the business world as a verb, as in Cutting prices will impact our revenue, many people maintain that "impact" is only proper as a noun. They believe the verb "impact" only means "to hit," and any other use is just irritating jargon.
Usually, when you are tempted to use "impact" as a verb, "affect" is the better choice:
Cutting prices will affect our revenue.
Quick and Dirty Tip: If you can put an article such as "an" or "the" in front of "impact," you are using it in the most proper way—as a noun. He wondered what the impact of the changes would be.
Get more tips like this in The Grammar Devotional: