Procurement Support for ESG and Non-Financial Performance

Solutions to Help Procurement Take the Lead

There is an increasing focus on how Procurement can help advance the strategic goals of the business, especially for environmental, social and governance (ESG) goal commitments and other critical measures of non-financial performance.

As new regulations are introduced, businesses need a clear, holistic view into non-financial performance to identify which procurement levers will help them reduce emissions, diversify their supplier networks and comply with governance changes.

The Hackett Group’s 2023 Procurement Agenda and Key Issues Study names ESG (Environmental, Social and Governance) and non-financial performance initiatives among the top 10 priorities. As a number of new and proposed regulations in the EU, UK, and U.S. take effect – and combine with investor and consumer pressures – there is a significant opportunity for Procurement to take the lead on getting started and ensuring good progress.

Procurement Performance Management Combines With Spend Intelligence

It’s powerful when you can combine data insights with your procurement planning and prioritization. Leveraging our Spend Intelligence and Procurement Performance Management, you can discover and benchmark your ESG status, identify new initiatives, set the right goals, proactively track performance, and deliver trusted, transparent reporting on the results.

When it comes to ESG and non-financial performance, Procurement is more effective working with your stakeholders and supply chain.

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Features in Our Performance Management Hub

Get Visibility into All ESG Projects

Have your team tag projects that have goals or ESG or non-financial performance, making it easy to track all in one place.

Define the Custom Values you want for Reporting

Determine how you want to measure other values beyond savings, such as CO2 emissions, water consumption, and waste output.

Get a Clearer View of Supplier Risk

Improve your supplier risk assessments by easily integrating data from expert sources, such as Dun & Bradstreet, Credit Safe, Ecovadis, E-Attestations.

Easy Use of Spend Analysis and Benchmarking

Consolidate and Classify Your Spend Data

Use our technology-enabled process to centralize, consolidate. and classify at least 97% of enterprise spend into the appropriate category taxonomy so that analytics are simplified and trusted.

Get a Strong Baseline on Supplier Diversity

Automatically enrich consolidated and normalized supplier data to know where you currently stand and using different filter views.

Estimate Emissions by Supplier and Category

Estimate your Scope 3 emissions output across the supply chain, so you can more easily spot opportunities to target reductions in collaboration with stakeholders.

“With more than half of the average enterprise’s ESG footprint resting with suppliers, the CPO is on the front lines in the fight to create a more sustainable value chain.” -Ardent Partners, Procurement 2023 Big Trends and Predictions

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