{"id":29205,"date":"2020-12-28T15:42:25","date_gmt":"2020-12-28T14:42:25","guid":{"rendered":"https:\/\/www.laragon.es\/digitization-of-non-financial-reporting-added-value-beyond-regulatory-compliance\/"},"modified":"2022-07-22T08:41:31","modified_gmt":"2022-07-22T06:41:31","slug":"digitization-of-non-financial-reporting-added-value-beyond-regulatory-compliance","status":"publish","type":"post","link":"https:\/\/www.laragon.es\/en\/digitization-of-non-financial-reporting-added-value-beyond-regulatory-compliance\/","title":{"rendered":"Digitization of non-financial reporting: added value beyond regulatory compliance"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"29205\" class=\"elementor elementor-29205 elementor-20252\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bde0037 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bde0037\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d25adce\" data-id=\"d25adce\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c92b7f7 elementor-widget elementor-widget-text-editor\" data-id=\"c92b7f7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><span style=\"color: #000000;\">Last December 30, 2018, the new <span style=\"color: #0000ff;\">Non-Financial Reporting and Diversity Act (11\/2018)<\/span> came into force. It has now been two years since this legal framework was introduced, which requires large companies in our country to publish, in their annual reporting, information relating not only to their economic management, but also to their social and environmental management. And, very importantly, they should include information on key indicators for good CSR practice, such as respect for human rights and the fight against corruption.<\/span><\/p><p><span style=\"color: #000000;\">The law established the <\/span><a href=\"https:\/\/www.laragon.es\/en\/environmental-management-and-sustainability\/#software-de-reporte-no-financiero\" target=\"_blank\" rel=\"noopener\">\n  <u>mandatory reporting of non-financial information<\/u>\n<\/a><span style=\"color: #000000;\">  only for companies with more than 500 employees. However, as of December 2021, three years after the publication of this regulation in the BOE, the obligation will be extended to companies with more than 250 employees.<\/span><\/p><p><span style=\"color: #000000;\">This new date marks a new horizon for those companies that, to date, have never reported non-financial information. The time has come for them to establish the pillars that will enable them to measure their social, environmental and economic impact and then translate it into an annual non-financial reporting report.  <span style=\"color: #000080;\">\n  <b>Laragon<\/b>\n<\/span>has been working for more than 15 years in the implementation of the most advanced tools and projects in the market for the integral management of non-financial information.<\/span><\/p><h2><span style=\"color: #000080;\"><strong>A comprehensive and scalable reporting solution<\/strong><\/span><\/h2><p><span style=\"color: #000000;\">As <span style=\"color: #000080;\">Enablon<\/span> &#8216;s partners, we recommend its solutions because it is a software that makes it easier for companies to gather all the information related to their activity and, at the same time, to establish key indicators to be able to report in compliance with the legal regulations in force.<\/span><\/p><p><span style=\"color: #000000;\">Enablon takes the company&#8217;s digital transformation to the next level. Its powerful information auditing and verifiability tools guarantee the highest quality of the information reported and facilitate the control of the reporting process, regardless of external (OSD, GRI, DJSI, GHG emissions&#8230;) or corporate formats, standards and frameworks. The reliability of the information and the ability to integrate the information with the rest of the company&#8217;s information systems through Data Analytics tools are key objectives in the projects we develop.  <\/span><\/p><p><span style=\"color: #000000;\">Throughout this process, from <strong>\n  <span style=\"color: #000080;\">Laragon<\/span>\n<\/strong> we work as a team with the company, customizing the solution according to their needs and taking into account the characteristics of their business (activities, geographical distribution, organizational structure&#8230;). In this regard, it is worth highlighting the flexibility of our projects for the integrated management of non-financial information:<\/span><\/p><ul><li><span style=\"color: #000000;\">We configure, integrate and adapt the software solutions to the processes of each client.<\/span><\/li><li><span style=\"color: #000000;\">We define in a detailed and specific manner the quality and verifiability controls in the collection and consolidation of information.<\/span><\/li><li><span style=\"color: #000000;\">We design and configure the necessary reports and dashboards to have the information just a click away. The system incorporates different views and modes of access to information, offering a user-friendly interface for all types of users.<\/span><\/li><li><span style=\"color: #000000;\">The system allows a permanent update of the client&#8217;s indicator catalog, being able to easily add new information and easily adapt to the evolution of reporting frameworks (e.g. future integration of SASB and IIRC), as needed.<\/span><\/li><li><span style=\"color: #000000;\">The reporting process can be enriched with materiality studies, identification and monitoring of objectives and KPIs for the follow-up of the organization&#8217;s strategies, trend and scenario analysis, etc.<\/span><\/li><\/ul><h2><span style=\"color: #000080;\"><strong>Non-financial reporting: an added value<\/strong><\/span><\/h2><p><span style=\"color: #000000;\">Although at first glance it may seem that non-financial reporting is a mere collection of data to comply with regulations, the reality is that this type of reporting goes much further and provides a detailed and detailed overview of the company&#8217;s activity.<\/span><\/p><p><span style=\"color: #000000;\">In this context, non-financial reporting has also become a tool for:<\/span><\/p><ul><li><span style=\"color: #000000;\">Decision-making.<\/span><\/li><li><span style=\"color: #000000;\">Inform stakeholders.<\/span><\/li><li><span style=\"color: #000000;\">Attracting investors.<\/span><\/li><li><span style=\"color: #000000;\">Exercise transparency and accountability.<\/span><\/li><li><span style=\"color: #000000;\">Establish a basis for process improvement and company sustainability.<\/span><\/li><\/ul><h2><span style=\"color: #000080;\"><strong>The international non-financial reporting agenda<\/strong><\/span><\/h2><p><span style=\"color: #000000;\">Although in Spain the Non-Financial Information Law lays the foundations for the reporting of non-financial information, the reality is that, at present, there is no single standard of reference.<\/span><\/p><p><span style=\"color: #000000;\">The future development of a unified set of clearly defined international principles and standards for presenting non-financial information will make this reporting much more reliable and will also facilitate comparability between reports.<\/span><\/p><p><span style=\"color: #000000;\">In this context, at the international level we are seeing the first steps towards the unification of standards. Recently, the IIRC and SASB expressed their intention to join forces, becoming a single organization under the name of the Value Reporting Foundation.  <\/span><\/p><p><span style=\"color: #000000;\">Along the same lines, IIRC and SASB, together with CDSB, GRI and CDP, have launched an initiative to create a single reporting standard that includes financial and non-financial information. <span style=\"color: #0000ff;\">\n  <a style=\"color: #0000ff;\" href=\"https:\/\/www.corresponsables.com\/actualidad\/ods16-modeloestandar-reportingcorporativo-contabilidadfinanciera-sostenibilidad-cdp-cdsb-gri-iirc-sasb\" target=\"_blank\" rel=\"noopener\">have launched The Impact Management Project<\/a>\n<\/span>an initiative to create a single standard reporting model that includes both financial and non-financial information.<\/span><\/p><p><span style=\"color: #000000;\">For its part, the European Union, within the framework of the Green Pact, has continued to work in 2020 on the revision of the Non-Financial Reporting Directive. In fact, last June saw the end of the public consultation period to gather stakeholders&#8217; opinions on possible revisions, with a view to establishing a new regulatory approach to the presentation of non-financial reporting.<\/span><\/p><p><span style=\"color: #000000;\">Change is a constant in the world of reporting. That is why at <strong>\n  <span style=\"color: #000080;\">Laragon<\/span>\n<\/strong> we stay close to companies to accompany them on this path and facilitate the adoption of new technologies and tools.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Last December 30, 2018, the new Non-Financial Reporting and Diversity Act (11\/2018) came into force. It has now been two years since this legal framework was introduced, which requires large companies in our country to publish, in their annual reporting, information relating not only to their economic management, but also to their social and environmental &#8230; <a title=\"Digitization of non-financial reporting: added value beyond regulatory compliance\" class=\"read-more\" href=\"https:\/\/www.laragon.es\/en\/digitization-of-non-financial-reporting-added-value-beyond-regulatory-compliance\/\" aria-label=\"More on Digitization of non-financial reporting: added value beyond regulatory compliance\">Leer m\u00e1s<\/a><\/p>\n","protected":false},"author":3,"featured_media":28614,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[185],"tags":[],"class_list":["post-29205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sustainability"],"_links":{"self":[{"href":"https:\/\/www.laragon.es\/en\/wp-json\/wp\/v2\/posts\/29205"}],"collection":[{"href":"https:\/\/www.laragon.es\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.laragon.es\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.laragon.es\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.laragon.es\/en\/wp-json\/wp\/v2\/comments?post=29205"}],"version-history":[{"count":0,"href":"https:\/\/www.laragon.es\/en\/wp-json\/wp\/v2\/posts\/29205\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.laragon.es\/en\/wp-json\/wp\/v2\/media\/28614"}],"wp:attachment":[{"href":"https:\/\/www.laragon.es\/en\/wp-json\/wp\/v2\/media?parent=29205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.laragon.es\/en\/wp-json\/wp\/v2\/categories?post=29205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.laragon.es\/en\/wp-json\/wp\/v2\/tags?post=29205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}