Sustainability software maximizes the value of your sustainability efforts and allows you gain more insight into your supply chain. This helps mitigate risk and boost the value of your reporting. By automating manual tasks and customized analyses, you gain time and information – a win/win for your entire business. But how do you convince management to invest in it?
Measuring and reporting KPIs related to your sustainability efforts in a transparent and concise manner is critical in order to better understand and take action on your sustainability work. Thankfully, this is possible with the help of modern software and digital tools that support you – from setting KPIs to reporting them, or helping you automate gruelling monitoring work. But how do you convince management that investing in sustainability software is worth it for your business? The following points can help you highlight the value of sustainability software and persuade its necessity in order to stay relevant.
Sustainability software helps you achieve and ensure compliance
It’s critical to know the way in which your organization complies and works with sustainability regulations and frameworks. As the amount of regulations grow, so too does the burden of work allocated with tracking how on top of it you are and your level of risk. Sustainability platforms make it easier to collect data and track progress over time. This real-time data helps you know where you’re compliant, where you need to focus your efforts, and empowers you to proactively make those changes.
Additionally, sustainability software automatically updates your level of compliance and alerts you when you need to take action. This ensures you stay up-to-date with regulation and provides data for the SDGs, Global Reporting Initiative, ISO 26000 and other national and global reporting standards and frameworks. Other compliance benefits include how easy the software makes providing access to auditors and stakeholders at any given time, which simplifies information sharing with everyone who needs access to them.
Person-independency and automation spares manpower hours
Tracking and reporting on sustainability efforts manually takes a lot of manpower and often costs valuable employee time. Often, all questions, concerns, manual admin, and reporting work falls on a handful of people. Not only does this burden staff but increases the possibility of human error. By using a software that automates administrative tasks and streamlines all team and partner communication in one platform, reporting achieves a higher-quality and saves labor and time that can be freed up to dedicate elsewhere. All these factors contribute to lower overall costs.
Moreover, streamlined processes for sustainability reporting are key to be able to report more accurately, more often, and more quickly, and in so doing, satisfy stakeholder needs and reach your goals. Effectively measuring and showcasing your sustainability work concretely through the help of a platform is the only way to prove that the efforts being made are also paying off.
Sustainability software helps you mitigate supply chain risk
Your impact isn’t only the sum of your organization’s activity, but spreads through every touchpoint your organization has in its supply chain. When done manually, this kind of external data becomes very hard to collect, track, and control, which in turn makes it difficult to identify business risks. Now, technology connects organizations, suppliers, and sub-suppliers in order to collect data and streamline communication in one place. This equips organizations to increase transparency and mitigate risk. In so doing, you not only save time, but ensure you’re engaging in safe activity, even outside the borders of your own business.
Discover and capitalize on new business opportunities
Sustainability efforts build brands and businesses. Managing sustainability information effectively helps position businesses as market leaders in the 21st century. Furthermore, by getting your hands on otherwise hard-to-reach data in your business operations and throughout your supply chain, you are more likely to discover untapped business opportunities ahead of competition. This means that sustainability software quite literally pays for itself - by opening new markets, investment opportunities, and catching the interest of relevant stakeholders. Honestly, there’s nothing stronger than ROI when pitching software to management.
Reduce the impact of your business and save costs
When businesses start measuring their sustainability impact easily and with accurate software that tracks progress, they are better able to identify how each business unit can best reduce their negative impact and create a net-positive impact. For example, one business unit may find an opportunity to increase its positive social impact in the supply chain while another unit might contribute most by reducing its energy consumption. Knowing where your impact also exposes where you can effectively save costs. Software makes it easy to monitor and report on resource consumption and other important sustainability metrics on a per-market or even per-department level, making it easy for you to identify culprits and take smart decisions on your path to a more sustainable business.
Sustainability software – better for your business and the world
In short, sustainability software helps you collect important data easily, automate manual tasks, measure efforts and track progress over time, discover business opportunities, and report how your business is doing in regard to sustainability – social, environmental, and economic. It’s more cost-effective than manual monitoring and helps you increase transparency throughout the organization with better data and synced communication.
Want to know how Worldfavor’s digital platform can help you get an automatic and stress-free sustainability reporting process?
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