Reimagining Data Insights towards a Transformative Future
Downloadable Resources
Transformative Impact- One Technology Investment at a Time
Sustainability – from a buzzword, it has now become a standard and a common business approach which organizations all over the world are called to reach and partake of. Environmental, social, and governance (ESG) is a set of standards which has now been a basis of screening a company’s behavior done by socially conscious investors. Governance standards of ESG, focuses on ensuring that businesses are going through an accurate and transparent accounting methods to guarantee that business leaders are pursuing integrity across its operations. Nowadays, “ESG is used as a standard tool for financial analysis, alongside traditional financial metrics.” While an undertaking as vast as this, businesses can slowly transition to being ESG compliant with a system that can consolidate, analyze, and transform data from multiple sources into actionable reports that can lead for leaders to make more informed plans and decisions.
ERP and ESG
An ERP system is a structured repository of data coming from sales and procurement, supply chain, manufacturing, inventory management, asset utilisation, service management, human resources and financials. With data and visibility, conscious decisions can be made to measure and reduce wastes, carbon emissions, optimise asset utilisation and improve resource efficiency.
An ERP with an extensible platform can be used to track a company’s carbon credits procured or allocated by the authorities. Next, a company’s carbon footprint (GHG emissions from its operations) can be calculated via the available data on energy conversion factors. The result is the calculation of the balance of carbon credits versus carbon emission. This data will provide insights for the management to streamline their sustainability operations.
An ERP with built-in leading practices and workflows would safeguard a company’s governance. The G in ESG. This is through the segregation of duties by roles and access. Checks and balances are system-driven in adherence to industry practices. An ERP that has a configurable workflow engine would also facilitate any additional governance with detailed audit trails.
Having the ERP as the single-source-of-truth, would mean the efforts to produce the relevant ESG reports would be much easier. Beyond the reporting and dashboarding capabilities of the ERP, the structured data can be integrated into specialized ESG reporting tools available that comply with the various ESG reporting standards and formats.
An ERP system is a structured repository of data coming from sales and procurement, supply chain, manufacturing, inventory management, asset utilisation, service management, human resources and financials. With data and visibility, conscious decisions can be made to measure and reduce wastes, carbon emissions, optimise asset utilisation and improve resource efficiency.
An ERP with an extensible platform can be used to track a company’s carbon credits procured or allocated by the authorities. Next, a company’s carbon footprint (GHG emissions from its operations) can be calculated via the available data on energy conversion factors. The result is the calculation of the balance of carbon credits versus carbon emission. This data will provide insights for the management to streamline their sustainability operations.
An ERP with an extensible platform can be used to track a company’s carbon credits procured or allocated by the authorities. Next, a company’s carbon footprint (GHG emissions from its operations) can be calculated via the available data on energy conversion factors. The result is the calculation of the balance of carbon credits versus carbon emission. This data will provide insights for the management to streamline their sustainability operations.
An ERP with an extensible platform can be used to track a company’s carbon credits procured or allocated by the authorities. Next, a company’s carbon footprint (GHG emissions from its operations) can be calculated via the available data on energy conversion factors. The result is the calculation of the balance of carbon credits versus carbon emission. This data will provide insights for the management to streamline their sustainability operations.
Read the full text article here.
ITG to Help Enable
ITG has partnered with QUBIX and Oracle NetSuite to bring you a pre-configured solution to reduce the cost and complexity of meeting the SGX ESG reporting requirements.
The solution will capture ESG actuals directly from source systems, via manual input in web forms and Excel uploads. It automatically compares the actuals to your planned ESG metrics indicating whether you’re on track to meeting your targets.
Designed specifically to meet the SGX requirement and includes the ability to expand the platform to incorporate GRI and SASB frameworks.
The solution runs on the market-leading Oracle NetSuite ERP and NSPB products. It includes the option to start with a base reporting solution and expand into a comprehensive Intelligent ESG Reporting Platform.
Solution Highlights:
- Pre-configured to accelerate deployment times and reduce costs.
- Pre-Configured Solution Options
- Hosted on Oracle NetSuite cloud for maximum security and performance.
- Pixel perfect pre-built reports and the ability to export reporting data.
- Several options to customize and expand the applications functionality.