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man sitting in excel spreadsheets for business reporting

In their recent survey, KPMG found that almost half of large organisations are still using spreadsheets to manage their Environmental, Social, and Governance (ESG) data.

Reported in ESG Today, survey respondents believe they are ahead of peers regarding ESG reporting (83%), however, surprisingly, almost half (47%) admit to using spreadsheets for managing their sustainability data.

Our CEO Craig Lefoe said he believes this figure represents a huge opportunity in Australia.

“If 47 per cent are still using spreadsheets, then that is 47 per cent who have before them, had the choice to ditch the spreadsheets for something more accurate, auditable and automated. Something they would feel confident about sharing not only with the government, but with customers, investors, and staff.”

Lefoe said.

“To meet accelerated reporting timelines, the sustainability reporting process must become more controlled and efficient, which is difficult, if not impossible to accomplish in spreadsheets.”

Lefoe said increasingly organisations are optimising their employee mix and reducing the impact on their bottom line by outsourcing the majority of sustainability reporting processes.

“Regulatory reporting and impending Australian sustainability mandates are driving the need for more transparency and accountability over ESG information. There is also a huge opportunity for leaders to use the reporting data gained to identify risks and opportunities for business growth and significantly improve their bottom line in the process.

"Data management is critical to integrating sustainability goals with overall business objectives. So back to my first point: How can this be done with unreliable spreadsheets prone to human error?" Craig Lefoe, Toustone CEO

Toustone’s Sustainability Suite is the opposite of spreadsheets. It’s robust, automated, simple to use, not prone to human error, giving businesses certainly of compliance, whilst driving top and bottom line gains.