ServiceNow’s New Integrated ESG Solution Aims To Solve The Information Architecture Conundrum

ServiceNow’s New Integrated ESG Solution Aims To Solve The Information Architecture Conundrum

ServiceNow have launched an integrated ESG solution aiming to help firms plan and disclose on their ESG initiatives. Founded in 2003, ServiceNow is headquartered in California with over 12,000 employees across their global network of offices. ServiceNow’s new ESG solution builds on the company’s already available cloud-based Now Platform to enable cross-enterprise digital workflows to connect systems and people. The ESG solution also utilizes the ServiceNow partner ecosystem, creating the capacity for a broad range of data points to be integrated into the platform for a more holistic view of an organization’s ESG performance. Partnerships include EcoVadis, providing corporates with a comprehensive view of third‑party risk and Watershed, enabling corporates to measure and report on their carbon emissions.

Corporates are facing ever-increasing data requests, including mandatory disclosure requirements, voluntary disclosure and questionnaires for ESG scores for equities. The current state of affairs for the vast majority of corporates entails human-led manual processes collating data from disparate sources, as they seek to appease the various stakeholders ESG data requests. These processes lead corporates to struggle to produce investor-grade – with investor-grade data classified as accurate, auditable and timely.

The ESG data conundrum has led software firms to seek to develop an ESG information architecture that enables corporates to seamlessly respond to ESG data requests, in addition to providing a platform for ESG strategies to be planned and monitored across the business functions. The ESG information architecture’s functionalities are achieved through the combination of the user interface layer, engaging various stakeholders through multiple interfaces, and a data lake extracting data from existing information systems.

An increasing number of corporates are grasping the notion that their current systems are challenged to produce the investor-grade data necessary to meet the ESG data requests. Hence, software firms have a golden opportunity to capture the market as the vendor landscape continues to shape. ServiceNow’s integrated ESG solution, presents a competitive solution to join an increasingly competitive ESG information architecture market – we eagerly await seeing who will emerge as market-leading.