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EcoVadis: Vendor Analysis, 2020 Update (Part 1) — Company Background & Solution Overview [PRO]

Sustainability. Go back 10 years and that was not a topic that got much more than lip service from most procurement organizations. But in recent years, as discussions around climate change have become louder, organizations started to address sustainability much more seriously.

Now, the coronavirus pandemic may prove to be the tipping point as most experts seem to agree that the origin of COVID-19 lies in the Wuhan wet markets. In these types of markets, live animals are kept under questionable conditions, something that is proving to be the definition of unsustainable. Time will tell if this was the starting point for truly including CSR and sustainability as a key part of strategic sourcing.

Since Spend Matters’ last Vendor Analysis of EcoVadis in 2017, the provider of business sustainability ratings for global supply chains has released two new offerings, IQ and Spotlight, to help organizations manage their entire supply base. IQ is an offering using country and industry data to allow organizations to track the long tail of its suppliers. Spotlight helps manage audits of the most strategic suppliers. In between these, EcoVadis’ core offering remains its Ratings module. It supports sustainability requirements by defining and benchmarking a corporate social responsibility index across 21 sustainability indicators (built up from lower-level questions) categorized in four major areas: environment, social, ethics and supply chain.

In this updated PRO Vendor Analysis, we’ll dive into EcoVadis’ company background, its solution offering and some recommendations on how the firm is best used to maximize value. Part 2 will focus on product strengths and weaknesses. Part 3 will then wrap up with a company SWOT analysis, a look at EcoVadis’ competitors and the market, shortlist guidance, and final commentary and recommendations.

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