In the first part of this two-part blog we discussed the Corporate Sustainability Reporting Directive, CSRD, and the challenges thousands of organizations face Europe-wide as they aim to comply with the requirements.
Building Your CSRD Reporting Solution
The three-phase approach to address the CSRD reporting challenge:
1) Building a data platform that serves as a preparation area for your data
2) Integrate the data from the necessary, various sources, and transform it into something your chosen sustainability solution can comfortably chew
3) Have your sustainability solution then deliver your CSRD and secondary use reporting in the format and the visuals of your choice
While phases 1 and 3 are nuts to crack on their own right, you will have guessed that phase 2 will take up a huge majority of time and costs associated to this implementation. With the most traditional approaches, the phase is highly work-intensive, requiring a lot of manual work and high seniority. Our development accelerator, ADA, is designed and developed to modernize this phase altogether.
Benefits of ADA in your CSRD Reporting Solution
By using our pay-as-you-go accelerator ADA, the process of classifying and refining the data is given a great boost. The development work related to preparing and transforming the data for CSRD reporting can be automated to a very high degree, while it guarantees uniform output and standardized quality.
As the most painstaking task of transforming and preparing your data for your ESG engine is reduced to 25% of the effort you would experience otherwise, you are likely to save hundreds of working days in the data preparation stage. Our customers report savings of $120.000 per implementation project, not to mention the savings during the reporting solution lifecycle.
Furthermore, consider what worthy purposes for secondary use of the data can be addressed in the process. Why build something only “for the sake of the EU”, when you can simultaneously create something of great value for your other stakeholders, like investors. With ADA, adding such complexity to your sustainability reporting process is easy. Without it, you would be likely to rule such secondary purposes out or push them for another project simply to avoid the workload.
We are happy to guide you through – that’s what we do.
