There is a growing demand for procurement to help achieve ESG compliance and other non-financial sustainability performance targets through comprehensive ESG data management, including:
Driving Responsible Sourcing
ESG Reporting & 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 sustainability goals and ESG goals.
Procurement’s Opportunity for Total Value Contribution
- CO2/Greenhouse
- Gas/Scope 3 Emissions & Carbon Accounting
- Water Consumption
- Supplier Diversity
- Spend & Regulatory Compliance
- Supplier Risk Management
- Ethical Sourcing
Positive business results await companies who make ESG progress. Gartner’s 2022 Sustainability Opportunities, Risks and Technologies Survey revealed that 83% say their sustainability management programs directly created both short- and long-term value.
Procurement’s challenge is determining the right ESG software solution and roadmap to get an accurate baseline through materiality assessment, identify and act on opportunities, and measure contributions against reporting requirements.
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 software , get the key features you need to identify opportunities and deliver progress on ESG metrics, supplier diversity, and non-financial ESG 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 Data Collection, Benchmarking and Project Decisions
Start by Getting Your ESG 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 to benchmark ESG performance while monitoring actual spend and trends across categories, locations, and other criteria.
Estimate Greenhouse Gas Emissions
Get enriched sustainability data to estimate Scope 3 emissions output per the GHC Protocol across your supplier value chain, making it easy to identify spend areas for targeting reductions through carbon accounting best practices.
Performance Management
Track and Measure ESG Metrics Across 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 Key ESG goals to provide transparency to the business and support ESG disclosure requirements.
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 to meet regulatory requirements and ESG framework standards.
Enrich Data for Supplier Risk Management
Improve supplier risk assessments and ESG data collection using insights from sources including Dun & Bradstreet, Rapid Ratings, Credit Safe, Ecovadis, E-Attestations, and more — thanks to pre-built connectors to ingest ESG data seamlessly.
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
Achieve regulatory compliance, communicate clearly through ESG reporting, minimize risks, and control costs while meeting compliance standards.
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.
ESG Reporting & Sustainability Management FAQs
What ESG reporting software capabilities does SpendHQ provide?
SpendHQ delivers comprehensive ESG reporting tool capabilities that streamline sustainability reporting and ESG data management. Our platform automates ESG data collection from multiple sources, applies the appropriate ESG framework, and generates reports that meet regulatory requirements. Unlike standalone solutions like SAP Sustainability Control Tower, IBM Envizi ESG Suite, or Prophix One, SpendHQ integrates ESG reporting directly with procurement data for more accurate sustainability performance tracking.
How does SpendHQ support ESG compliance and regulatory requirements?
Our ESG software solution helps companies maintain ESG compliance by automating data collection, tracking ESG metrics against regulatory requirements, and generating reports for ESG disclosure. The platform supports various ESG frameworks and enables materiality assessment to identify key ESG priorities. This ensures your organization meets evolving reporting requirements in the United States and globally while maintaining audit-ready documentation.
Can SpendHQ help with carbon accounting and GHG Protocol reporting?
Yes. SpendHQ’s sustainability data capabilities include carbon accounting features aligned with the GHG Protocol standards. Our platform estimates Scope 3 emissions across your supply chain, tracks carbon reduction initiatives, and provides the reporting software functionality needed for comprehensive sustainability reporting. This integrated approach to ESG tracking ensures accurate carbon accounting without requiring separate specialized tools like Diligent ESG or IBM Envizi.
What makes SpendHQ different from dedicated ESG software like IBM Envizi ESG Suite?
While solutions like IBM Envizi ESG Suite, SAP Sustainability Control Tower, and Diligent ESG focus solely on ESG management, SpendHQ combines ESG data management with procurement intelligence. This integration provides more accurate ESG metrics by connecting sustainability goals directly to supplier spend and contracts. Our platform offers key features for ESG performance tracking while maintaining the procurement context that drives meaningful ESG strategy execution.
How does SpendHQ help companies establish ESG goals and track sustainability performance?
SpendHQ enables companies to set and monitor ESG goals through comprehensive ESG tracking and sustainability management capabilities. Our platform performs materiality assessment to identify key ESG priorities, establishes baseline ESG metrics, and provides actionable insights for improvement. The reporting software generates ESG reports that demonstrate sustainability performance progress, helping organizations communicate their corporate sustainability achievements to stakeholders and meet ESG compliance requirements.
