Sustainability Content

Why Sustainable Growth Will Outshine Economic Uncertainty in 2020

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Spend Matters welcomes this guest post from PJ Bain, the CEO of PrimeRevenue, a provider of working capital financial technology solutions.

In 2019, the economy defied expectations. Despite talk of a downturn and hordes of executives sitting on pins and needles, it never materialized. Economists were baffled by the juxtaposition of record-performing markets amid indications that a recession was on the horizon. To be fair, in any other cycle, those predictions would have probably come true — but not this time. It’s hard to remember a time when the economy was this … well, mystifying.

As we enter 2020, global uncertainty is still the name of the game. But businesses can find ways to invest in sustainable growth in uncertain times.

Givewith Q&A: How technology allows social impact to be ‘seamlessly embedded into transactions’

As social and environmental issues become more important to regulators, consumers, investors and C-suites, companies have begun programs to address sustainability, corporate social responsibility (CSR) and topics related to ESG — environmental, social and governance issues.

Besides satisfying outside interests, businesses also can find value in these pursuits — but they may not be getting all of the benefits that they could. So we interviewed the founder of Givewith, CEO Paul Polizzotto, to shed some light on the issues.

Givewith uses technology to help companies match their sustainability and ESG efforts with a nonprofit or social enterprise that benefits those areas. Givewith evaluates hundreds of nonprofits and social enterprises and works with companies all around the world to help turn everyday business into a social benefit.

EcoVadis gets $200 million boost for its sustainability ratings and supply chain technology

EcoVadis, a provider of ratings on sustainability, CSR and ESG, today announced a $200 million investment from CVC Growth Partners that puts three CVC executives on the EcoVadis board and sets the company up to expand. “EcoVadis plans to leverage the funding to expand internationally, break into new countries and further invest in its technology platform, sustainability intelligence solutions and network of rated companies,” according to its press release.

2020 predictions from procurement software experts like Basware, Ivalua, Efficio and more

Spend Matters Europe Editor Nancy Clinton has collected 2020 predictions from a range of procurement software experts like Basware, Ivalua, Efficio, VORTAL, State of Flux and more. The posts have run on the days leading up to the New Year, and more will run in the coming week. Here, we've consolidated the predictions and provided a highlight from each vendor.

Givewith: Vendor Introduction (Background, Solution Overview, SWOT, Checklist) [PRO]

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Givewith and SAP Ariba announced a partnership today for Givewith to integrate with Ariba’s sourcing module so companies can find nonprofit groups that can help improve the companies' corporate social responsibility (CSR) and sustainability efforts.

In this Spend Matters PRO Vendor Introduction, let’s see what Givewith’s solution has to offer and why it’s important now.

Consumers, investors and governments are pushing businesses to consider the larger social impact of their operations. And corporations, for their part, are starting to evaluate the ways they can respond. The August 2019 Business Roundtable restatement on the purpose of a corporation is one prominent example, in which multiple CEOs affirmed that a company’s mission should include not only increasing shareholder value but also betterment of customers, employees, suppliers and communities.

Such declarations are noble on paper, but they also have profit-focused incentives behind them. ESG ratings (environmental, social and governance) are becoming more relevant in investor decisions, so corporations are finding investments in programs for sustainability and CSR are now required to attract funding. Similarly, a strong corporate responsibility vision and track-record of action on social issues is becoming a selling point with consumers, as well as a reason for those consumers to consider working for (and remaining employed at) those businesses.

So where does procurement fit into all of this? According to the thinking behind Givewith, B2B transactions represent a major opportunity to generate funding for nonprofit programs. If procurement can recommend a slate of potential CSR or sustainability initiatives to fund during an RFI (or, if a supplier can do the same when constructing a bid response, to create a unique selling point), the business can use existing sourcing processes to yield operational and social impacts.

It’s a unique concept in the B2B space, and one that Givewith aims to scale quickly via its major initial partnership: A prebuilt integration directly into SAP Ariba’s sourcing module.

This Vendor Introduction offers a deep look at Givewith and its capabilities. It includes an overview of Givewith’s B2B offering (Givewith Enterprise), a SWOT analysis and a selection requirements checklist for companies that might consider the provider.

SAP Ariba and Givewith partner on social-impact matching service

SAP Ariba and Givewith today announced a partnership where Givewith’s social impact solution will be available on the SAP App Center, giving SAP clients access to a matching service that allows them to find nonprofits to give donations.

Businesses increasingly are concerned with sustainability and corporate social responsibility (CSR), and Givewith analyzes thousands of nonprofits to match with businesses’ needs to improve their social standing, which studies have shown helps the bottom line as well as aids reputations with the public and improves worker recruiting and retention.

“If just 8% of the nearly $3 trillion transacted by buyers and suppliers across the Ariba Network included Givewith, we would generate over $3 billion in funding for nonprofits,” said Paul Polizzotto, Givewith’s founder and CEO, in a press release. “As we look to tackle some of today’s most pressing social, economic and environmental challenges, we see SAP Ariba as a strong partner in unleashing the power of business transactions as an agent for social change. Together, we’re elevating the role of procurement by turning sourcing into a key component of the company’s larger business and CSR strategies.”

In a Spend Matters PRO Vendor Introduction post, our analyst Nick Heinzmann shares what he learned after spending time evaluating Givewith’s solution, Givewith Enterprise.

EcoVadis CSR Index sees progress on labor and human rights, but procurement sustainability falls short

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Sustainable practices are slowly being embraced by companies around the globe, but performance has actually fallen in some key areas, according to EcoVadis’ newly released Global CSR Risk and Performance Index 2019.

The greatest increase was recorded in human rights and labor rights activities where aggregate scores for performance rose from 45.4% in 2017 to 46.7% in 2018, said the report from EcoVadis, a provider of  ratings for CSR, sustainability risk and performance for companies that fuel global supply chains.

EcoVadis attributed much of the gain to increased awareness and scrutiny of modern slavery as well as diversity issues in the workplace, with many governments introducing legislation requiring enhanced due diligence and reporting on these issues

EcoVadis — Catching Up on a Provider to Know

EcoVadis, a provider of ratings on companies’ sustainability and corporate social responsibility efforts, was named to Spend Matters’ 50 to Know list six months ago. It’s the third year running that it has been highlighted as one of the providers to know in the procurement technology sector that we cover.

This year, we’ve taken an in-depth look at EcoVadis in a PRO series by our analysts, and we’ve covered some of EcoVadis’ latest findings on sustainable procurement.

EcoVadis can be a slightly challenging provider to put into a box and review. But let's look into its products and technology to see where it fits in the market and as a solution for your business.

Procurement pros rise to the occasion at Big Ideas Summit Chicago

When the city of big shoulders hosted the Big Ideas Summit last week, the procurement executives at Procurious’ event in Chicago generated a lot of excitement and a powerful list of insights.

An array of speakers led thought-provoking sessions and imparted plenty of big ideas — from the latest in neuroscience to how procurement technology and policies affect issues like human trafficking and forced labor in supply chains.

‘What other needs do you have?’ — Lessons from ConnXus, a supplier relationship expert

Supplier relationship management (SRM) has grown from just sourcing the best deal to really evaluating suppliers for diversity, ability to innovate, value generation and their risk.

In this series on SRM, we’ve discussed how the development of supplier diversity has improved supplier management overall, and we’ve explored how companies can meet their goals to have a robust supply chain that’s diverse.

Businesses now know to get their spend data in order and should know how to measure the impact of that spend. They should be able to develop suppliers and drive innovation. Responsible businesses can protect their brand reputation by assessing their main suppliers (tier 1) and those deeper in the supply chain, as well as having a plan to mitigate risks, like unethical sourcing, forced labor in the supply chain or poor performance in the past. But, it’s also clear that lacking in supplier diversity or being weak in supplier information management (SIM) are risks themselves.

To learn more about these issues, we talked with SRM expert Daryl Hammett, the general manager of ConnXus, a provider that connects buyers and qualified suppliers.

Sponsored Article

5 benefits of multi-tier supply chain transparency

Consumers expect brands and retailers to know much more about their products than in the past, such as where it was sourced, how it was manufactured, who was involved or what countries it passed through on its journey to the store. All this requires a deeper understanding of the supply chain.

While multi-tier supply chain transparency is challenging to achieve, it can reap serious benefits for businesses that invest the time and resources. Taking progressive steps to achieve visibility at multiple tiers can benefit businesses in five ways.

EcoVadis, NYU report on the state of sustainable procurement

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Sustainability efforts paired with technological growth continuously affect the way business leaders plan for their companies’ futures. As budgetary and operational plans are considered, thought leaders in the supply chain and procurement space are evaluating sustainability as an asset that can stifle risk and bring about further economic growth.

EcoVadis, a firm that works to provide sustainability risk and performance ratings for global supply chains, recently launched its 2019 Sustainable Procurement Barometer in partnership with the NYU Stern Center for Sustainable Business.