In recent years, corporate social responsibility (CSR) has become increasingly embedded within organizations, and the growing number of sustainability reports published each year is just one manifestation of this trend. As with their financial activities, companies must report their extra-financial activities to meet the ever-increasing CSR expectations of stakeholders.
However, CSR reporting is not a simple task. Apart from the fact that there are no clear guidelines that apply to all companies, collecting, assessing and managing extra-financial data requires a significant human and financial investment. Although dedicated sustainability teams generally collect data through such tools as spreadsheets, email and PDFs, these data can be collected using more automated solutions, such as SaaS (Software as a Service), which optimizes the ESG reporting process by streamlining data collection and assessment, as well as the communication of final results. In addition to simplifying the work of dedicated teams, sustainability reporting software is less expensive than more manual and traditional practices. This article will outline the benefits of using extra-financial reporting software.
Extra-financial reporting software offers several data-entry options. Data collection can be automated using an interface (API) that populates the database in real time,
reducing the risk of errors and speeding up the data-entry process. Data collection can also be done manually or semi-manually. To optimize this step in the CSR reporting process, software programs include many features to prevent data-entry errors such as duplicate entries, irregular data and human error.
With dedicated software, data collection is simplified and thus more reliable than a spreadsheet.
In addition to simplifying the work of dedicated teams, sustainability reporting software is less expensive than more manual and traditional practices.
Consolidating all your ESG data provides a comprehensive picture of your departments. This allows you to assess your environmental and social performance and better understand the impact of your activities, making it easier to identify the areas that require additional attention to increase their scope.
With dedicated software, performance indicators are calculated automatically, preventing errors and saving time. This allows you to track the impact of your company’s various initiatives in real time. You can also increase stakeholder engagement by creating reports customized for your target audience and generate dashboards to highlight your progress in terms of sustainability. To further your analysis and identify new opportunities, sustainability reporting software allows you to
manipulate data through a range of features and calculations tailored to your needs. This flexible tool makes it easy to improve your impact and integrate sustainability at every level of your company, from strategy to operations.
Data is updated automatically and available at all times, making it quick and easy to generate reports customized for your target audience. Reports can also be easily generated for internal communications, outlining the company’s initiatives and progress, or for compliance with any of the reporting frameworks (SASB, GRI, CDP, etc.). Most of the software’s filters are used to automatically generate reports in compliance with these frameworks.
An interactive and dynamic microsite highlighting your commitments and ESG performance helps you capture the attention of your organizations’ various stakeholders. In
addition to being more enjoyable to read, the microsite is updated in real time for greater transparency.
Try it for yourself—schedule a software demonstration with one of our experts.