For modern organisations, working with a wide range of data is a reality. When it comes to CSR reporting this is certainly true. But having the right structure in place to collect, manage and analyse this data can be the difference between it being a smooth process or an organisational challenge. There are many ways that investing in non-financial reporting software can help with CSR Reporting, supporting the growing requirements of non-financial reporting and providing companies with increased confidence in their data.
Improve data collection efficiency
It’s not uncommon to have a range of energy management systems, which include a lot of Excel spreadsheets and lots of manual entry. Many organisations still have disparate collection processes when it comes to their CSR data.
But what is the advantage of having that data in a single system, in a centralised database? In short, it makes the collection process easier and more efficient. There is one place for everyone to input their data, which can be accessed by multiple users across your organisation.
Increase ability for data analysis
Once the data is in the system, it makes it easier to analyse the performance data and quickly identify where there is waste. It also enables organisation to find areas where they are wasting money, meaning they can change their behaviour more quickly to start to redistribute their resources and improve the bottom line.
As well, having the ability to see your data from across different parts of the organisation, including different geographic locations, enables in depth analysis and assessment on what is happening is different parts of the business. With data stored online, it enables easy access when conducting in-depth data analysis.
Meet the requirements of international CSR Reporting frameworks
Having the right software in place enables organisations to meet reporting requirements of international frameworks. The advantage of using a dedicated system is that you can select the question sets, based on their relevance to your organisation. The data inputted from across the organisation can them be consolidated into reporting templates as appropriate.
Support communications more effectively
There is a growing need for organisation to communicate effectively with their stakeholders, both internal and external. In addition to this, there is a growing need to communicate with the wider supply chain. There are two main reasons for this. First of all, it helps to foster a stronger working relationship and improved business performance. Second, it safeguards the delivery of that performance, to make sure it is of the required standards.
By having data in a central system, it makes it easier to generate reports and communications, without having to spend time and effort finding the information you need.
Do you want to find out more about using software to support your CSR reporting? Talk to us today:
[Image credit: Marina del Castell]