The days of box-ticking are numbered. Organisations need to deeply understand their supply network and prepare for legislative requirements. It’s time to get serious about ESG. And software can help.
Demonstrate to clients and shareholders you are meeting sustainability requirements from your supply chain.
The stakeholder economy means meeting the expectations of a wider group, not just investors.
By expanding your network, you can tap the potential of previously overlooked suppliers.
Build a centralised supplier database with an ESG specific questionnaire during the prequalification and requalification process. Store relevant documents (e.g. Reconciliation Action Plan, Modern Slavery statement) and tags for database segmentation.
Easily identify vendors via filters and raise engagements to meet social procurement targets. For complex tenders, store documents capturing bidders’ commitment to ESG, then close the loop by evaluating subcontractor performance against set goals (e.g. diversity and inclusion).
Provide real-time reporting to clients and shareholders on your progress towards supply chain related ESG targets. Via APIs, you can export supplier data and perform deep analysis in your BI tools.
Know your vendors so you can identify gaps to sustainability targets such as Indigenous owned, local content, apprenticeship, SME, gender diversity etc.
Ensure relevant stakeholders can access comprehensive, accurate and up-to-date data on existing and new vendors.
With increasing compliance needs, technology can facilitate corporate accountability, by “de-siloing” and increasing collaboration enterprise-wide.
Strengthen your procurement governance to ensure integrity, mitigate risk and reduce fraud.
The right processes enabled by the right technology to achieve goals for both your clients, supply chain and investors.
Learn how Felix can help by filling in the form below and a team member will reach out.