Esker, a global cloud platform and leader in AI-driven process automation solutions for Finance, Procurement and Customer Service functions, today announced new capabilities for its Source-to-Pay suite, incorporating sustainability features that are essential for business growth while complying with the increased environmental, social and governance (ESG) regulations worldwide.
Weaving 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, while enhancing visibility, reporting and collaboration. Additionally, it’s about recognizing the immense potential of sustainable practices in driving innovation, efficiency and, ultimately, 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.”
New capabilities in Esker’s Source-to-Pay suite track ESG metrics that align with regulatory frameworks, monitor performance of these indicators and identify areas for improvement. By facilitating the creation of transparent reports and displaying easy-to-read dashboards, these tools can provide a clear and accurate picture of a company’s environmental impact. Internal CO2 emissions can also be optimized by analyzing supplier invoices, resulting in significant cost savings. Esker’s global platform enhances organizational efficiency by streamlining data collection and consolidation, saving time and boosting team productivity, thanks to:
- 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 that incorporate weighted bid scoring that considers sustainability criteria alongside pricing factors.
- 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, thereby improving supply chain sustainability.
- Green purchasing: Esker Procurement catalogs feature the CO2 impact of products to facilitate the procurement for eco-friendly and energy-efficient products and services.
- 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, enabling companies to gain insights into the environmental impact of their supply chain and identify areas where emissions can be reduced through a dedicated dashboard.
- Late payment prediction and early payment plan: Esker Accounts Payable enables companies to anticipate and identify invoices at risk of late payment, to safeguard financial stability and support ethical business practices. Esker also offers dynamic discounting, thereby contributing to healthy relationships with suppliers and a more sustainable business model.
Explore AITechPark for the latest advancements in AI, IOT, Cybersecurity, AITech News, and insightful updates from industry experts!
