Your organization decided that it’s time to select and use ESG & Sustainability software. Great! It’s a smart decision because best-in-class companies understand that software can make a big difference in making your ESG & Sustainability program successful.
Taking the decision is the easy part! Now comes the hard part: how to select the right ESG & Sustainability software for you? With so many vendors out there and with such a big variety of software applications, choosing the right solution can be a challenging task.
But we’ve made it easy for you! Continue reading to learn how to choose ESG & Sustainability software that will work for you.
Identify Your ESG & Sustainability Goals
Even before you start looking at different ESG & Sustainability software, you need to take a look at yourself first! You must ask this question: “What are my goals?” Are you looking for software to collect data and run a sustainability reporting program? Or are you looking for something more sophisticated to improve your ESG performance for the longer term?
Establish also your priorities, both for today and tomorrow. Suppose that today you only need software to collect ESG data and produce TCFD, SASB, GRI, CDP, and other disclosures. But you think that you will need a more advanced system in about 2-3 years that gives insights through analytics. In this case, do you really want to go through two software evaluation processes?
How to select ESG & Sustainability software starts by knowing your needs better.
Determine Your Software Budget
What you’re ready to spend on ESG & Sustainability software will have a big impact on what you can purchase. This is why the previous step, identifying your goals, is so important. If you have big goals but a small budget then you have a problem. But if you have small goals but a big budget then you may be missing an opportunity.
Also, think about the payment model that you like. Do you want to purchase a software license with a one-time amount (plus implementation and annual maintenance fees), or would you prefer SaaS where you pay an annual fee and don’t have to worry about implementing, maintaining, and upgrading the ESG & Sustainability software?
If you have big needs but you’re worried about your budget, then a SaaS model may be better because you pay one, predictable amount each year.
Establish Software Solution Scope
After you identify your goals and determine your budget, you can move to the next step on how to choose the right ESG & Sustainability software. This step is about establishing the solution scope. This is where you get a better idea of the level of sophistication and feature set of the software system that you want.
This step is important because ESG & Sustainability software comes in all shapes and sizes. Some systems are more data management tools with limited features. Others are powered by artificial intelligence and analytics with real-time data collection and offer a very rich set of features. And then there are all kinds of solutions in-between to drive sustainability efforts.
If you do a bad job of establishing the solution scope, then the ESG & Sustainability software evaluation process can quickly overwhelm you.
Determine Software Usage Scope
Some organizations are complex. They include different business units with various business strategies or have offices or plants in many countries. If this is the case for you, be sure to determine the scope of the ESG & Sustainability software deployment.
You may need ESG & Sustainability software at one location to start with it. But if there is a strong chance that eventually all your locations will be using the system, then be sure that your budget reflects that. Purchase for your future needs also, not just your present ones. Think of your internal and external stakeholders’ needs while driving financial performance.
The scalability of the ESG & Sustainability software solution is an important factor to improve sustainability and drive business performance. You may start with just a limited number of users. But will it be easy to then roll out the software application to the entire company? This is also a reason why a SaaS software platform could be better.
Leverage Free ESG & Sustainability Expert Consultation
Evaluating software is not easy. It’s also tough to know how to build your business case for ESG software. You can use some assistance! Getting a neutral opinion on how to select the right technology and how to secure a budget for an ESG & Sustainability software can help a lot. Some consultants charge a lot for their services, but there is an alternative. At www.esg.tech we simplify your software search and give expert advice. For free! That way, you can choose the best ESG & Sustainability software for you with confidence.
Submit your project today and let us guide you!