RALEIGH, N.C., June 27, 2024 (GLOBE NEWSWIRE) -- insightsoftware, the most comprehensive provider of solutions for the Office of the CFO, today announced its Environmental, Social, and Governance (ESG) solution. Initially focused on organizations impacted by the coming Corporate Sustainability Reporting Directive (CSRD) requirement, insightsoftware ESG is a robust, end-to-end solution that supports organizations throughout their sustainability journey. The modular solution simplifies and automates ESG reporting, saving time and improving visibility. It enables businesses to collect, consolidate, and analyze ESG data from any source and create accurate and compliant reports in minutes versus weeks or months.
ESG reporting mandates, such as the CSRD, greatly affect how organizations prioritize sustainability efforts. Unfortunately, ESG reporting is complex, requiring data from multiple sources, such as enterprise resource planning, sustainability systems, customer relationship management, and human resource management. These systems are often siloed across an organization and its suppliers, adding to the complexity. Businesses also struggle to collect and consolidate ESG metrics alongside their financial data. Disjointed systems and inefficient processes limit an organization's ability to provide ESG transparency and accountability to investors, consumers, regulators, and stakeholders.
insightsoftware ESG is a modular solution that empowers businesses to tailor their sustainability journey and make informed decisions while adapting to evolving regulations. Its pre-configured, expandable data model streamlines compliance while supporting various reporting frameworks.
Key features include:
- Effortless Data Collection & Consolidation: Pre-configured, future-proof data model simplifies gathering of all data types (narrative, numeric, and calculated) for CSRD compliance. insightsoftware ESG allows customization based on an organization’s materiality assessment, which streamlines the reporting process and ensures businesses capture what matters most to their stakeholders.
- Complete Picture, Simplified Workflow: Manage all reporting entities, data collection and consolidation processes in a single, user-friendly platform. Comprehensive BI and Analytics empower organizations to create interactive reports and dashboards, gaining deeper insights to proactively monitor and improve their ESG performance.
- Seamless Compliance & Filing: The integrated solution streamlines CSRD compliance generating high-quality sustainability reports compliant with eXtensible Business Reporting Language (XBRL) filing requirements. This ensures timely, accurate filing, allowing businesses to focus on sustainability initiatives.
- Future-Proof Flexibility: Businesses can start with data collection or reporting and filing. The modular design adapts to an organization’s specific needs and future regulatory changes.
“New ESG mandates are forcing organizations to move from a voluntary to a statutory framework, which often requires capturing and reporting on entirely new data types. As a result, inconsistent ESG reporting can lead to missed deadlines, increased costs, compliance risks, and reputational damage,” said Monica Boydston, General Manager, Controllership at insightsoftware. “insightsoftware ESG empowers organizations to accurately and efficiently satisfy reporting requirements to internal and external stakeholders, demonstrating commitment to their sustainability efforts and effectively utilizing their ESG data as a strategic driver for organizational growth. With over 20 years of experience supporting companies with diverse filing regulations, we’re uniquely positioned to guide businesses through the ever-evolving ESG reporting landscape.”
Built on top of proven close and consolidation, disclosure management, and BI technology used by thousands of customers globally, insightsoftware ESG includes the controls, audit trail, and security needed to deliver investor-grade data and meet statutory filing requirements. It ensures businesses can measure the impact of their ESG initiatives, attracting ESG-focused investors.
To learn more about insightsoftware ESG and how it can better support an organization’s sustainability goals from data collection to compliance and stakeholder communication, visit the insightsoftware website. A webinar diving deeper into insightsoftware ESG capabilities can also be found here.
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About insightsoftware
insightsoftware is a global provider of comprehensive solutions for the Office of the CFO. We believe an actionable business strategy begins and ends with accessible financial data. With solutions across financial planning and analysis (FP&A), accounting, and operations, we transform how teams operate, empowering leaders to make timely and informed decisions. With data at the heart of everything we do, insightsoftware enables automated processes, delivers trusted insights, boosts predictability, and increases productivity. Learn more at insightsoftware.com.
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