TECH BUYER Mar 2022 - IDC Perspective - Doc # US48967022
Too Few Procurement Application Providers Are Addressing ESG
This IDC Perspective discusses how the growing interest in sustainability and ESG reporting by corporate boardrooms, investors, and other stakeholders shows no sign of abating. As the world looks to coalesce around reporting standards and frameworks, organizations are challenged to assemble and validate the data needed to effectively report on their progress toward their respective ESG objectives. Procurement application providers have a front row seat to much of this data and accordingly are presented with a prime opportunity to lead the way.
"Procurement application buyers are relatively new to the process of assessing their technology needs as they pertain to meeting their respective corporate ESG objectives. Simply put, they need help and they don't currently have a broad array of options. Going forward, we expect that most providers will offer some functionality in this space, and they can look to providers such as Coupa and SAP that are leading the way." — Patrick Reymann, research director, Enterprise and Procurement Applications at IDC