The Next Generation of Datamaran: Executive-Ready Insights to Succeed in an Evolving ESG Landscape
16 December 2021 - By Ian van der Vlugt
As ESG continues to dominate headlines, regulatory initiatives, and investment priorities, a quickly growing number of corporate leaders are embracing a more strategic approach to materiality and risk monitoring. After all, these issues are dynamic, top-of-mind for Boards, and require a systematic approach to managing the related risks and opportunities. That’s why technology is a key enabler for companies, not only to keep their finger on the pulse of this quickly changing landscape, but to also strengthen internal controls.
At Datamaran, we’ve spent the past 7.5 years supporting companies in improving business processes to effectively manage ESG - with a practical, data-driven, and tech-enabled approach to materiality, risk management, reporting, and Board oversight. Over that time, we learned a lot about the types of solutions that work, and those that don’t - with a lot of great feedback from our clients over these years.
While remaining committed to our mission to help C-suite Executives take ownership of ESG, we built a global community of top-tier companies and partners, became the first ESG tech company to secure a patent on unstructured data analysis, and our approach was recognized as best practice by EFRAG (the body in charge of creating the first legally binding sustainability reporting standards in the world: the EU Sustainability Reporting Standards).
Reflecting on our own learnings and ambitions, we’re thrilled to introduce some of our biggest product improvements yet. I won’t run through all of the enhancements that we’ve made - you’ll just have to book a demo with our team to see them in action! - but I will highlight some of the key differentiating factors we’re most excited about; we’re sure it’s one of those solutions that fits like a glove (ask our clients).
1. A smoother user experience
It may seem a trivial point to start on, but we wanted to make Datamaran as simple and straight-forward as possible, so you can get the information you need as quickly as possible. Everything in the interface has been reimagined with our users in mind, and oriented to helping them get the most out of the software.
2. Running a materiality analysis is now faster than ever
Leveraging smarter defaults and lightning quick analytics, companies can get preliminary materiality results in a matter of seconds. This means they can spend more time where it matters most - on managing business-critical issues.
3. New features to meet changing market requirements - double materiality
The concept of double materiality will likely be baked into mandatory requirements under the new EU Corporate Sustainability Reporting Directive (CSRD). Whether you’ve heard of this concept before or scratch your head upon reading it (hang on, I’m just coming to grips with single materiality!), we’ve developed new analytics and visualizations that are sure to hit home.
After all, what senior leader doesn’t want to have data-driven evidence of the ESG issues likely to have a financially material impact on their company? We’re also plugged into these swaths of policy developments currently taking form to ensure that we deliver the best value to our clients.
4. The world is dynamic, so your analytics must be too
Static materiality analyses are outdated. Datamaran enables dynamic analyses to help you keep tabs on issue and market changes, providing the most complete view of current and emerging risks. Datamaran is constantly expanding its ontology - the issue universe that underlines our AI technology - to ensure that this remains relevant to businesses as their context changes.
On the other hand, it means providing understandable and actionable insights about what’s changing, why, and best practices. With Datamaran, you can see what’s changed on a quarterly basis to inform Executive and Board-level discussions. This way, you can get ahead of next year’s reporting, and also take a proactive approach to refining your strategy. Which dovetails nicely into...
5. Executive-ready insights under one roof at all times
I started talking about strategic materiality. That is, an integrated and structured process to identify, prioritize, and monitor the dynamic issue universe that drives strategic business decisions. What we’re seeing is the non-integrated, box-ticking approach to pre-financial/ sustainability/ESG materiality (it’s so hard to call it the right thing these days!) is quickly becoming a thing of the past as more corporate leaders recognize the need for strategic materiality. Coupled with the Executive Dashboard we launched in April 2021 to improve ESG risk management, Board oversight, and annual reporting, you have an end-to-end package that delivers must-have insights for executives.
With this next generation of Datamaran, we remain more committed than ever to help business leaders gain confidence in the ever-changing world of ESG risks and opportunities. And there’s a lot more innovation underway! Our focus in 2022 will be on continuing to deliver critical insights for the C-Suite audience and on closing the communication gap between management teams and Boards.
And we always welcome new challenges. I encourage you to book a demo with the team to share your thoughts, and reach out to me directly with any questions: email@example.com.
For current clients, we’ll explore these improvements in our next client-exclusive Online Forum. This will also feature Organon and Fordham Business School on using Datamaran to achieve a dynamic approach to materiality and risk monitoring that captures emerging issues.
Get started with Double Materiality in 5 simple steps
Adopted by the EU Commission in April 2021, the new Corporate Sustainability Reporting Directive proposal (CSRD) is setting common European reporting rules, requiring more than 50,000 companies to conduct a double materiality assessment.
But what is it about? And where do I get started to integrate that approach in my materiality process? This free ebook provides you with all the answers you need.Fill the form on the right to get your free copy.