ESG Elephant Explained: Data storage
Next up from our ESG Elephant series: Data storage from the “G” (for Governance). This article explains, exactly, why data storage is so important when discussing ESG.
Collecting data and storing it properly is essential for organizations striving to comply with regulations and enhance their ESG practices.
It’s the foundation for transparency, compliance, and informed decision-making.
What is Master Data and why is it important?
Master Data is the backbone of your business operations.
It’s the core information about products, customers, suppliers, and other key entities that keep everything running smoothly.
Think of it as the single source of truth your systems rely on to process orders, manage inventory, and keep customers happy.
When your Master Data is clean, accurate, and up to date, everything works as it should.
But if it’s messy or outdated?
Expect errors, delays, and inefficiencies.
Staying on top of Master Data isn’t just a tech thing; it’s about running a smarter, more reliable business.
In Sustaina Company, we’ll help you collect the right data, make sure it’s structured and systemized, and involve the right people.
You know, so it’s actually useful to you.
Linking Master Data
Having connected internal systems that link product data to supplier data is pretty crucial.
It reduces errors, improves decision-making, and ensures everyone works with the same data.
And it makes it easier for you to do the rest of your ESG work and live up to all the coming legislation.
That includes the CSRD, CSDDD, DPP, and so on – complying with their requirements means that you need to have your data in order.
Otherwise, you’ll end up wasting a lot of time – and time is money.
Alright, so now you know that having Master Data that is connected is important.
But what do you do from here, what data needs to be included in the Master Data, who should manage it and who should have access to it?
Let us help you with that!
All you have to do is click the button and send us an email.