What is non-financial reporting software?

This article explains the growing importance of non-financial business factors and non-financial software’s role in helping companies manage and report on their non-financial business performance, with a focus on ESG and sustainability topics. It also highlights the challenges businesses face in managing ESG, particularly due to a shortage of ESG professionals. Non-financial performance management and reporting software provides a solution to this and other challenges as it aids in tracking, collecting and analysing sustainability data, thereby supporting companies in building and managing effective non-financial performance management programmes.

Understand ESG

What is ESG to most companies?

Before diving into the world of non-financial performance management and reporting software, it's crucial to understand what ‘ESG’ stands for.

ESG refers to environmental, social and governance factors: a set of criteria that investors and stakeholders use to measure a company's commitment to sustainability, society, workplace issues and governance practices.

Why do companies need non-financial performance management and reporting software (ESG software)?

With the growing emphasis on ESG compliance and reporting, companies are increasingly leveraging technology to build, manage and report on their non-financial programmes.

This is where non-financial performance management and reporting software (also called ‘ESG software’ in this article) comes in. Understanding how this software works can help companies streamline their ESG and sustainability efforts as well as enhance their non-financial business performance.

The genesis of ESG

Why ESG matters

ESG matters because it addresses a company’s broader impact on society and the environment – not just its financial performance.

It encompasses everything from a company's carbon footprint to its labour practices and board diversity.

The evolution of ESG

Over the last five years, ESG has evolved from a niche concern to a mainstream business consideration. The COVID-19 pandemic has further underscored the importance of ESG, highlighting the interconnectedness of businesses, societies and the environment.

The impact of ESG evolution on business operations

The evolution of ESG has fundamentally changed how companies operate. It has driven businesses to integrate sustainability into their strategies, invest in social initiatives and strengthen their governance structures.

The demand for ESG

Who demands ESG?

ESG is demanded by a wide range of stakeholders, including consumers, employees, investors, regulators and the supply chain ecosystem.

These stakeholders are increasingly expecting companies not just to deliver financial returns but also to contribute to societal and environmental wellbeing.

The role of stakeholders in driving ESG priorities

Stakeholders play a crucial role in driving ESG priorities. Their demands and expectations influence a company's ESG strategy, decisions and non-financial business practices.

The challenge: managing ESG amid insufficient ESG roles

With the growing emphasis on ESG, companies are facing the challenge of managing their non-financial programmes amid a shortage of ESG professionals.

This has burdened company management, creating a need for effective ESG management solutions.

The solution: ESG software

So, what is ESG software?

ESG software is a technology solution designed to help companies build, manage and report on their non-financial programmes, focusing on their ESG and sustainability matters.

These software platforms offer a range of functionalities, including ESG data collection, tracking, reporting and analysis.

ESG software: tracking, collecting and analysing ESG data

Non-financial performance management and reporting software allows companies to build effective programmes for their key ESG risk areas based on internationally recognised standards. The software can also track ESG performance over time by collecting ESG data from various sources and analysing it to derive actionable insights.

With these benefits, companies can identify their ESG strengths and weaknesses, make informed decisions and improve their ESG performance.

ESG software also allows companies to engage with their stakeholders and provide them with key data and regular reports – all in accordance with regulatory requirements.

The value of ESG software in building and managing ESG programmes

Non-financial performance management and reporting software can assist companies with building and managing their ESG programmes. It can help define ESG goals, develop strategies to achieve them and monitor progress.

Some software uses embedded frameworks to guide users through building and managing ESG programmes in accordance with a framework.

The importance of investing in ESG software

Investing in ESG software can help companies streamline their ESG efforts, improve their ESG performance and meet stakeholder expectations.

It's an investment that will yield significant returns in terms of enhanced reputation, increased stakeholder trust and improved business performance.

Speeki: your go-to ESG software

Speeki is an innovative non-financial performance management and reporting software that offers a comprehensive solution for ESG management and reporting.

It serves as a system to build your ESG profile, supports the creation and management of ESG-related data, aids in receiving and investigating ESG incidents and facilitates reporting on your non-financial programmes to stakeholders.

But that’s not all: apart from technology, Speeki offers consulting and assurance solutions to turn your non-financial initiatives into a valuable business process that creates a competitive advantage for your organisation.

Key features and benefits of the Speeki software

Speeki offers a host of features designed to help companies manage their non-financial programmes effectively.

  • Data collection and management: Speeki allows companies to collect, store and manage their ESG profile in a centralised platform, across all of the key areas that are important to them in the spectrum of ESG risks.
  • Non-financial reporting: Once you have built an ESG profile that summarises all the activity related to your key ESG risk areas, that data can be extracted to communicate and report your ESG performance to stakeholders.
  • ESG incident management: Speeki has a strong incident management system that allows users to report any ESG breaches, failures or other incidents from their mobile devices. Reported incidents can then be investigated by the company and tracked within an inbuilt incident management system.

How Speeki stands out in the ESG software market

Speeki is a leader in software for non-financial performance management and reporting. We help define ESG, build ESG and report ESG through our simple-to-use platform combined with our consulting and assurance expertise.

We built an ESG risk model, an ESG framework and software specifically to help organisations globally manage ESG. We know ESG, we know technology and we know how to present data that is impactful. Our non-financial performance management software and solutions are all businesses need.

Our comprehensive non-financial performance management and reporting software caters to businesses of all sizes and industries, making it a go-to ESG software.

Integrating expert content: Speeki’s ESG library

In addition to its robust non-financial performance management and reporting functionalities, Speeki also offers an extensive library of resources. The library is a rich repository of expert content that helps enterprises navigate the complex world of non-financial matters.

  • Navigating non-financial topics and gaps: Speeki’s ESG library covers a wide range of non-financial topics, helping companies understand various ESG issues and identify gaps in their ESG performance to guide them in developing and refining their non-financial management and reporting strategies.
  • Learning content for employees and partners: The library also provides valuable and engaging learning content for employees and partners, fostering a culture of ESG awareness and responsibility within the company and its broader ecosystem. By leveraging Speeki’s library, companies not only enhance their non-financial efforts but also empower their employees and partners to contribute to their overall business performance.

Integrating expert content into the Speeki Platform further strengthens Speeki's position as a comprehensive non-financial performance management solution provider, supporting companies in all aspects of their non-financial performance journey.

How to get started with Speeki

Getting started with Speeki is simple. Book a demo today to experience firsthand how Speeki will elevate your sustainability efforts and drive business success.

It's time to embrace the power of non-financial performance management and reporting software and drive your company towards a more sustainable and resilient future.