ESG in capital and asset intensive operating environments
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.
It’s better to stay ahead of the compliance curve and start implementing a socially responsible procurement framework.
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.
Using software solutions for ESG
- Vendor onboarding
- Sourcing
- Reporting
Vendor onboarding
Capture the right vendor data
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.
Sourcing
Act on sustainable procurement policies
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).
Reporting
Measure ESG performance
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.
Socially responsible procurement enabled
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.
- Database segmentation with ESG filters
- ESG questionnaires for suppliers
- ESG contracts and engagement reporting
ESG policies and procedures realised
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.
- Role-based access permission
- Customisable approval workflows
- Audit trails
- Secure data platform
