Esker, a global cloud platform and provider of AI-driven process automation solutions for Finance, Procurement, and Customer Service functions, has announced new capabilities for its Source-to-Pay suite. These updates incorporate sustainability features essential for business growth while ensuring compliance with increasing environmental, social, and governance (ESG) regulations worldwide.
Integrating environmental management, social responsibility, and long-term sustainability into source-to-pay (S2P) processes helps the Office of the CFO manage continually evolving regulatory frameworks and mitigate risk. This approach also enhances visibility, reporting, and collaboration. Beyond compliance, sustainable practices drive innovation, efficiency, and profitability.
“Embracing sustainability isn’t just a choice, it’s a strategic imperative,” said Catherine Dupuy-Holdich, S2P Product Manager at Esker. “Companies must weave ESG concerns into every thread of their S2P fabric, since it’s not just about transactions but about transforming the entire supply chain into a force for sustainability.”
Key Features of the New Capabilities:
1. Tracking ESG Metrics:
- Esker’s Source-to-Pay suite now tracks ESG metrics that align with regulatory frameworks, monitors performance, and identifies areas for improvement.
- The suite facilitates the creation of transparent reports and displays easy-to-read dashboards, providing a clear picture of a company's environmental impact.
- By analyzing supplier invoices, internal CO2 emissions can be optimized, resulting in significant cost savings.
2. Ethical Sourcing:
- Esker Sourcing by Market Dojo helps companies identify suppliers aligned with their sustainability objectives.
- Through calls for tenders, requests for information, or pre-qualification questionnaires, companies can incorporate weighted bid scoring that considers sustainability criteria alongside pricing factors.
3. Supplier Evaluation and Selection:
- Esker Supplier Management allows companies to create supplier ESG questionnaires, monitor third-party indicators for ESG scores, and report on diversity criteria from the moment suppliers are registered and throughout the business partnership.
4. Green Purchasing:
- Esker Procurement catalogs feature the CO2 impact of products, facilitating procurement for eco-friendly and energy-efficient products and services.
5. Greenhouse Gas (GHG) Emissions Dashboards:
- Esker Accounts Payable extracts carbon emission metrics (Scope 2) from utility bills and calculates Scope 1 and 3 emissions from various data sources.
- Companies can gain insights into the environmental impact of their supply chain and identify areas where emissions can be reduced through a dedicated dashboard.
6. Late Payment Prediction and Early Payment Plan:
- Esker Accounts Payable enables companies to anticipate and identify invoices at risk of late payment, safeguarding financial stability and supporting ethical business practices.
- Esker also offers dynamic discounting, contributing to healthy relationships with suppliers and a more sustainable business model.
Esker’s global platform enhances organizational efficiency by streamlining data collection and consolidation, saving time, and boosting team productivity. These advancements underline Esker’s commitment to fostering sustainable business practices and helping companies navigate the complexities of modern regulatory environments.
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