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Share Name | Share Symbol | Market | Type |
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Coupa Software Inc | NASDAQ:COUP | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 80.97 | 79.00 | 80.20 | 0 | 01:00:00 |
Businesses worldwide seek more transparency in ESG data, according to new Coupa study
SAN MATEO, Calif., March 31, 2022 /PRNewswire/ -- The availability and reliability of crucial supply chain data is preventing organizations from operationalizing their corporate purpose and meeting their environmental, social, and governance (ESG) goals, according to new research from Coupa Software (NASDAQ: COUP), a leader in Business Spend Management (BSM).
Coupa's research confirmed businesses want to improve ESG practices and reduce risk exposure, including: improving energy efficiency (94%); reducing greenhouse gas emissions (91%); eliminating modern slavery (89%); improving supply chain diversity (89%); and reducing deforestation (87%).
However, this research also points to a lack of sufficient visibility into supply chain data and inadequate technology for businesses to fully realize ESG targets.
"Even with all the will in the world, no business can fully realize their ESG goals and make a meaningful difference if they do not possess accurate and timely data on which to make decisions," said Donna Wilczek, senior vice president of product innovation and strategy at Coupa.
There are ways to overcome companies' ESG data gaps, with Coupa's research finding businesses calling for greater industry-wide data sharing and collaboration:
"Organizations are rightly making ESG a priority and have begun to make changes to their supply chains to become more sustainable. While many are still early in their journey and marching towards net zero goals, it's clear that quicker access to supplier information can aid supply chain planning and help businesses better respond when disruption arises. With this type of data collaboration, organizations can confidently make choices that reduce costs and carbon, as well as risk," said Steve Banker, vice president of supply chain services at ARC Advisory Group.
"It's reassuring to know that Coupa's research also found more than two-thirds (64%) of businesses plan to invest in new technology to help them achieve ESG goals," Wilczek added. "However, if they truly want to operationalize their ESG strategy and corporate purpose, they need transparency technologies that go beyond mere reporting, and enable buyers and suppliers to collaborate and exchange data as a community for a common cause."
To learn more, check out the full research report: How To Mitigate ESG Risk In Your Supply Chain.
The survey was conducted among 800 decision makers who have an overview of, or responsibility for, the supply chain in businesses with 1,000+ employees across Australia, France, Germany, Singapore, the U.K., and the U.S. Interviews were conducted by Sapio Research in February 2022 using an email invitation and an online survey.
Coupa is the cloud-based Business Spend Management (BSM) platform that unifies processes across supply chain, procurement, and finance functions. Coupa empowers organizations around the world to maximize value and operationalize purpose through their business spend. To learn more about Coupa, visit www.coupa.com or follow us on LinkedIn or Twitter.
View original content to download multimedia:https://www.prnewswire.com/news-releases/supply-chain-blindspots-impede-esg-progress-301514438.html
SOURCE Coupa Software
Copyright 2022 PR Newswire
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