The Significance of ESG Reporting Automation
The business world is constantly changing and the good news for all of us is that the recent ESG reporting requirements will change it for the better. More transparency, more comparability and more corporate responsibility are on the way.
ESG reporting has become a critical aspect of the business world. It reflects a commitment towards sustainability and responsibility, both of which are crucial components for long-term success. With an increasing demand from investors, customers, and regulators, ESG reporting has moved from a “nice to have” to a “must have” aspect of business operations. More environmental responsibility, more social responsibility and better governance require a significant change in the way that company executives measure the impact of their decisions.
ESG reporting is expected to drive a true investment in future generations. The new ESG transparency requirements will set actionable and measurable goals for making real change for future generations and may be a real driver for the private sector to improve the environmental, social and business environment for future generations.
The new reporting standards require companies to implement new methods of operations related to reporting. No more focusing only on the financials. The new ESG framework requires the collection and management of operational and financial data that was never collected, organized or analyzed before. Traditionally, ESG reporting has been a manual, time-consuming, and error-prone process. The collection of data, verification and reporting can take months, leaving companies exposed to risk and uncertainty. However, with the advent of ESG reporting automation, companies can now streamline the process and achieve ESG reporting goals efficiently and accurately. The ESG frameworks require that operational data, HR data, financial data and corporate documents be collected, organized and reported on. This brings a significant challenge for decision makers, especially in the first few years of the new reporting requirements.
ESG reports provide a new perspective on a company’s operations. They complement traditional financial statements and present a completely new point of view on a company’s operations. ESG reporting will also attract attention from new readers that would have never read the financial statements. The ESG report is likely more appealing to a non-financial reader, and could become the primary medium in which to frame a company’s operations, with a level of importance even greater than a company’s social media account and likely more widely read than the financial statements.
Companies that invest in automation of the ESG report will be rewarded with greater visibility in the market and as well as improved efficiencies in data collection and report generation. ESG report automation will allow an organization to focus on developing and executing their ESG strategy, as opposed to the manual processes of collecting data and preparing the report.
IGM Technology’s flagship solution, Gravity ESGTM, provides the industry leading solution to automate the collection of ESG data and streamline the compilation of ESG reports. Automation of the ESG reporting process will allow ESG professionals in your organization to focus on monitoring and improving your company’s ESG performance, as opposed to wasting administrative time designing, aligning and formatting ESG reports.
In addition to helping companies streamline their reporting process, Gravity ESG also helps organizations eliminate manual errors in their ESG reports. Gravity ESG can deliver more accurate, consistent and reliable ESG reporting, which helps to increase transparency and accountability.
Plus, Gravity ESG provides unique and advanced capabilities to produce ultra-high quality report output. Gravity ESG has built-in desktop publishing capabilities to automatically produce the highest quality report output imaginable. Plus, Gravity ESG includes a Report Accelerator Kit, with an extensive library of pre-built templates to let you choose the report style that best suits your organization and then tailor it to fit your organization’s specific unique requirements.
Gravity ESG also supports real-time access to cross-industry ESG data and metrics. This helps companies identify areas where they need to improve, track their progress over time, and respond to stakeholder inquiries and concerns. This information can help companies stay ahead of the curve and be seen as leaders in being responsible, ethical and sustainable organizations.
Gravity ESG is a 100% cloud-based platform that easily connects to any organization’s existing ERP and operational systems. Plus, Gravity ESG provides out-of-the-box data collection templates to gather additional ESG data from across your organization, anywhere in the world. These capabilities make it easy to get all of the data you need centralized into a single location and normalized to make the reporting process fast and easy.
Investing in ESG report automation is increasingly becoming a priority for companies looking to meet stakeholder expectations and demonstrate their commitment to environmental, social, and governance (ESG) considerations.
Gravity ESG provides a comprehensive ESG reporting solution that can help companies effectively manage their ESG reporting requirements. Here at IGM Technology, we took our extensive experience in developing and implementing advanced reporting solutions and applied this technology to the ESG reporting market, to provide the most comprehensive and easy-to-use solution for collecting data and publishing highly designed ESG reports.
Companies looking to differentiate themselves in the marketplace and gain a competitive edge, should invest in ESG report automation to improve the quality, timeliness and efficiency of their ESG reports. ESG reporting is becoming an increasingly important factor in investment decisions, and companies that are seen as proactive and transparent in their ESG reporting are more likely to attract investment and business opportunities. With its comprehensive and user-friendly solution, IGM Technology can help companies achieve their ESG reporting goals and stay ahead of the curve.