Verdantix Green Quadrant Reveals Leading ESG Reporting And Data Management Solutions In A Dynamic Market Landscape

Verdantix Green Quadrant Reveals Leading ESG Reporting And Data Management Solutions In A Dynamic Market Landscape

The recently released Verdantix Green Quadrant: ESG Reporting And Data Management Software assesses 20 of the most prominent ESG reporting and data management software vendors and their capabilities. Our research included two-hour live briefings, desktop research, vendor responses to a 115-point questionnaire, and interviews with more than 35 customers across a variety of industries and geographies. Vendors included in the study comprise APLANET, Benchmark Gensuite, Clarity AI, Cority, Diligent, FigBytes, IBM, Intelex, Nasdaq, NAVEX, Novisto, OneTrust, Position Green, Quentic, Sphera, UL Solutions, VelocityEHS, WayCarbon, Wolters Kluwer and Workiva. What are the key takeaways from this benchmark?

• There is strong competition in the ESG reporting and data management software market.
  There are hundreds of software vendors in the market with capabilities to report on some ESG metrics, and a large subset of these vendors have functionality to help corporates report across a full suite of these metrics (see Verdantix Smart Innovators: ESG Reporting And Data Management Software). The highly competitive nature of this market placed 11 vendors – Benchmark Gensuite, Cority, Diligent, IBM, Intelex, Nasdaq, Sphera, UL Solutions, VelocityEHS, Wolters Kluwer and Workiva – in the Leader’s Quadrant. With so many firms offering strong capabilities in this area, customers will have to consider key factors – such as industry-specific experience, ease of deployment, cost, and regional expertise – when selecting a software vendor.
• Vendors integrate core reporting capabilities while adapting to evolving demands and regulations.
  All 20 vendors included in the Green Quadrant incorporate certain core capabilities into their solutions, such as aggregating data from a variety of sources, creating records for auditing and assurance of disclosures, and reporting to multiple voluntary frameworks. As corporates increasingly need their ESG reporting and data management software to be deployed enterprise-wide and incorporate more forward-looking capabilities to comply with the EU’s upcoming CSRD, vendors need to keep pace. The ESG reporting and data management software market has evolved rapidly over the past three years, driven primarily by increased regulations and pressure from a variety of internal and external stakeholders. Reporting on ESG and sustainability metrics is no longer a ‘nice to have’: it’s a ‘must have’ for many corporations.
• Software providers must meet the needs of firms with a wide range of maturity levels.
  With an increase in both regulatory and business strategy drivers, many corporates will look to software to help them with data management and reporting requirements – including firms who will be collecting and reporting on sustainability-related metrics for the first time. As such, vendors will need to both adapt and scale their solutions to meet growing demand, while also continuing to deliver advanced functionality for more mature customers. To effectively scale their solutions, vendors may offer starter packages with basic functionality that can be expanded on to meet customers’ growing needs, or complement their software solution with services to help with customer setup and onboarding.

To participate in this Green Quadrant, vendors had to meet certain inclusion criteria related to their capabilities, employee numbers and customer count. In addition, we only evaluated generally available products and product functionality. We expect the market to keep changing, with vendors expanding their offerings, new competitors entering and even some vendor consolidation. As a result, we plan to refresh this report in the next 18 to 24 months.

To learn more about the 20 most prominent ESG reporting and data management firms in the market, read the full report: Verdantix Green Quadrant: ESG Reporting And Data Management Software. Please contact us to connect with Verdantix and learn more about the vendors in this space.