There is a growing demand for procurement to help achieve goals for Environmental, Social, and Governance (ESG) and other non-financial performance, including:
Driving Responsible Sourcing
ESG & Non-Financial Performance Support
Procurement leaders and their teams use actionable insights about spend and suppliers to prioritize, track, and measure new sourcing initiatives that advance critical strategic goals.
Procurement’s Opportunity for Total Value Contribution
- CO2/Greenhouse
- Gas/Scope 3 Emissions
- Water Consumption
- Supplier Diversity
- Spend Compliance
- Supplier Risk Management
- Ethical Sourcing
Positive business results await those who make ESG progress. Gartner’s 2022 Sustainability Opportunities, Risks and Technologies Survey revealed that 83% say their sustainability programs directly created both short- and long-term value.
Procurement’s challenge is determining the right roadmap and solutions to get an accurate baseline, identify and act on opportunities, and measure contributions.
Procurement Insights
Supplier Diversity, Sustainability, and Risk Management
Procurement teams should be able to rapidly turn the latest spend insights into new projects that support strategic business goals. Using spend intelligence and procurement performance management, get the features you need to identify opportunities and deliver progress on ESG, supplier diversity, and non-financial performance targets.
$9T
DATA WAREHOUSE SPEND ANALYZED
40+
PRODUCT INTEGRATIONS
$10-50M
AVERAGE SAVINGS
98%
SPEND CATEGORIZATION GUARANTEED
Ardent PartnersProcurement 2023 Big Trends and Predictions
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.
Spend Intelligence
ESG Benchmarking and Project Decisions
Start by Getting Your Data in Great Shape
Use SpendHQ’s proven AI-enabled process to efficiently centralize, normalize, and classify 97-99% of enterprise spend into a best practice taxonomy.
Access Supplier Diversity Insights and Benchmarks
Consolidated supplier data is automatically enriched with 13 standard diversity categories. Access diversity benchmarks while monitoring actual spend and trends across categories, locations, and other criteria.
Estimate Greenhouse Gas Emissions
Get enriched data to estimate Scope 3 emissions output across your supplier value chain, making it easy to identify spend areas for targeting reductions.
Performance Management
Track and Measure ESG Initiatives
Gain Centralized ESG Project Visibility
Easily identify and proactively track the progress of all procurement projects tagged with diversity, sustainability, or other non-financial goals to provide transparency to the business.
Configure Your Value Reporting
Define custom calculations of value beyond savings goals, by determining how you want to measure attributes such as CO2 reduction, water consumption, and waste output.
Enrich Data for Supplier Risk Management
Improve supplier risk assessments using insights from sources including Dun & Bradstreet, Rapid Ratings, Credit Safe, Ecovadis, E-Attestations, and more — thanks to pre-built connectors to ingest data.
Benefits from ESG Spend and Performance Insights
Companies can enhance their reputation by demonstrating their progress and actions taken to achieve stated ESG commitments.
Regulatory Confidence
Comply with regulations, communicate clearly, minimize risks, and control costs.
Environmental Impact
Help reduce pollution, carbon emissions, water and energy consumption, and more.
Ethical Sourcing
Eliminate unfair labor practices. Improve supply chain safety and resiliency.
Aligned Decisions
Improve collaborative decision-making to drive alignment around ESG roadmap.
