Global master data management (MDM) leader Stibo Systems announces strategic initiatives and innovation roadmap to bring its customers closer to their sustainability goals and prepare for a wide range of global standards and imminent compliance due in US and Europe in 2025.
Sustainability is an inherent value at Stibo Systems and is core to the company’s mission of better data, better business and a better world.
Customer, CEO and investor priorities now increasingly include sustainable business and ESG, as per a recent Gartner® CEO Survey1.
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“In 2022, environmental sustainability became a top 10 business priority for the first time ever, with 9% of the respondents naming it as one of their top three,” according to Gartner. “This was three times more than a year earlier, representing the biggest jump we’ve seen in the survey’s history. But the story is not just about the environment. Social responsibility/ESG was the second largest contributor to CEO focus on corporate issues, increasing 50% year over year.”
Stibo Systems sustainability strategy encompasses its own operations, as well as commercial activities to encourage and enable its customers to meet their own objectives on sustainability. The strategy will focus on how customers need to elevate sustainability data to the same level of importance (and associated governance) as other business-critical master data. Organizations will need to collate, record, demonstrate and evidence sustainability claims with transparent data – and adhere to dozens of differing standards. It also focuses on helping customers to effectively manage complex sustainability data, reducing the risk of damaging their businesses and avoiding penalties associated with regulatory non-compliance or “greenwashing.”
“Just as much as it is about helping our customers, marrying MDM and sustainability is a realization of our company culture and who we want to be as an organization,” said Adrian Carr, CEO of Stibo Systems. “With the rise of chief sustainability officers and other heads of sustainability, it is clear how important these goals have become to major enterprises. Indeed, sustainability and ESG requirements are increasingly integrated into RFPs for new business. Most importantly for us at Stibo Systems, it’s about setting the pace for master data management to be a key player in the sustainability movement.”
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Stibo Systems customers are already using Stibo Systems Enterprise Platform (STEP) to support their sustainability and ESG goals. Oatly, the Sweden-founded food company producing oat-based alternatives to dairy, is working with Stibo System to enable fast-paced growth and report on its sustainability goals and ambitions for 2029.
”To manage the work with reducing climate impacts of product and corporate climate footprints, it’s vital to control and understand the whole product, from the content of the product to the suppliers and the logistic partners. Being able to access all the relevant data in one place, as Stibo Systems Solution do, creates efficient reporting and analysis of metrics to be able to reduce the climate impact,” said Albin Junhede, Sustainability Reporting System Lead at Oatly. ”Access to correct and complete master data is key to being able to reduce climate impact and find the hot spots to target.”
Other key Stibo Systems sustainability initiatives include:
- Strategic sustainability advising: Stibo Systems’ strategic advisory team focuses on value stream mapping and supply chain optimization opportunities through MDM.
- Sustainability innovation roadmap: Ongoing work to introduce new solutions, such as a Sustainability MDM Accelerator and pre-built integrations to leading sustainability ratings businesses, such as EcoVadis.
