ESG challenge in retail. What support does modern technology offer?
ESG strategy means planning a company’s sustainable development based on three pillars: environmental, social and governance. Although the topic seems distant, the ESG reporting obligation presented in the draft CSRD announced by the European Commission on April 21, 2021, already applies to selected sectors. No worries! The retail industry will not be left without support. Retailers can look forward to modern technology solutions that enable them to run their businesses by ESG and reap the benefits that come with it.
Environmental and corporate ESG activities and modern technology
What can companies implementing an ESG strategy in environmental activities do? Monitor energy and water consumption targets, introduce emission reduction that will consider all areas of activity, including supply chain participants, and implement processes to reduce the company’s carbon footprint. Therefore, it is not without significance to conduct analyses and supervise the activities carried out, which are closely related to optimising processes affecting the environment and the company’s results. Planning and analysis systems are essential for controlling and reporting performance for companies implementing an ESG growth plan. Retail companies can benefit from multi-module software to support the management of internal business sectors, solutions that link data from several IT systems, or forecasting and planning platforms.
Support for modern technologies in the field of ESG social issues
The system of non-wage benefits and flexible work organization are the two main activities implemented as part of the ESG strategy by the companies participating in the survey conducted by PwC. HR systems help to accurately document the work done by employees and thus assess their achievements, determining the granting of bonuses. On the other hand, the CBT time reporting application can significantly help manage a team remotely. Efficient task delegation and optimal day-to-day activity planning benefit both managers and employees.
Reorganising a company according to an ESG strategy may require many actions. However, the process does not have to be as difficult as it seems if you take advantage of the goodness of modern solutions tailored to the company’s profile. You can use a consulting service to learn about the technologies prepared for retail ESG introduction.