CFOs & Finance Teams
Automate sustainability data management, unlock insights to reduce risk, ensure compliance, and streamline ESG reporting.
CFOs & Finance Teams
Finance Teams and their senior leadership, including CFOs (Chief Financial Officers), are at the beating heart of most organisations.
They supervise critical operations such as making payments, issuing invoices, running payroll, managing cashflow, forecasting future spend/revenue, and ensuring regulatory compliance, including sustainability/ESG (Environmental, Social, and Governance) reporting.
Key Sustainability-related Responsibilities of CFOs & Finance Teams
Data Collection, Analysis, and Quality Checking
Collecting, analysing, and quality checking data on energy consumption, waste generation, water usage, and greenhouse gas (GHG) emissions across the business, with a focus on energy expenditure, and carbon and greenhouse gas (GHG) emissions.
Compliance and Reporting
Preparing reports for internal and external stakeholders, ensuring compliance with relevant environmental regulations and both mandatory and voluntary reporting frameworks.
Planning Future Investments
With respect to future sustainability projects and upgrades, this may include evaluating and modeling carbon price risks and offsets.
Stakeholder Engagement
Communicating return-on-investment (ROI) for sustainability projects and initiatives to internal and external stakeholders, including employees, investors, customers, and the public.
Common Sustainability-related Challenges Faced by CFOs & Finance Teams
Data Management Complexity
You spend an excessive amount of time manually gathering, validating, and analysing energy and sustainability data from multiple sources such as spreadsheets, utility bills, and various enterprise resource planning (ERP) systems... and you’ve learned the hard way that manual processes are prone to human error.
Data Silos and Swamps
Your organisation’s proliferation of data silos, poorly-managed data lakes, and legacy systems contain a confused mix of software patches, workarounds, and poor design which make it difficult to extract timely meaningful business value from the data.
Lack of Integration with Existing Systems
Because of a lack of seamless integration with existing systems and relevant data sources, you struggle to get a clear, consolidated, and timely view of energy costs and sustainability performance across multiple sites and business units.
Limited Insights and Actionable Recommendations
You lack the tools and insights to measure the financial impact of your organisation’s sustainability projects and initiatives.
Limited Resources
Generating reports for various stakeholders, including internal management, regulatory bodies, and sustainability reporting frameworks can be very time-consuming.
Internal Resistance to Change
Overcoming resistance to sustainability initiatives from board level, general staff or other stakeholders who are reluctant to adopt new energy-saving/carbon reducing practices or technologies can be a cause of frustration.
Key Sustainability-related Concerns for CFOs & Finance Teams
Risk of Financial Penalties
Failure to achieve sustainability targets and non-compliance with evolving ESG regulations can have a significant risk impact on your organisation’s bottom line, especially in the medium term.
Reputational Damage
Your organisation could suffer negative publicity or stakeholder criticism if you fail to address sustainability issues effectively, leading to lost market share and increased PR crisis costs.
Falling Behind Competitors
Your organisation could lose a competitive advantage if it doesn’t keep pace with sustainability best practices, including transparent access to audit-ready carbon and GHG emissions data for Scope 1 (direct emissions), Scope 2 (electricity/heat indirect emissions), and in some cases Scope 3 (supply chain and other indirect emissions).
How Can We Help?
At EnergyElephant, we believe that everyone can quickly achieve great sustainability outcomes without needing to be an expert, so we built a powerful but simple-to-use platform to make this a reality.
Our automated, data-driven approach allows you to spend less time and effort manually wrangling vast amounts of energy and carbon data, so you can focus more time and energy on actions that deliver actual carbon reductions, with significant cost and energy savings to boot.
EnergyElephant software allows us to monitor our energy usage and costs over time and identify cost and CO2 savings. This software is really user friendly. One of the best features is its ability to identify potential cost savings. The developers constantly add new features and services which add additional value to our business.