The UK is racing towards making environmental, social, and governance (ESG) disclosures mandatory for large organisations by 2025, under Scope 1 and 2 of the IFRS Sustainability Disclosure Standards. Likewise, the clock is ticking in the EU now almost 50,000 companies are required to submit reports for the 2024 financial year, in line with the Corporate Sustainability Reporting Directive (CSRD).
Customers already realising the benefits of managing their financial close, budgeting, forecasting, planning and reporting with OneStream Software are extending the platform to meet these new reporting requirements, streamline group sustainability efforts, and unify ESG Reporting with the office of Finance.
As stakeholders place a growing emphasis on sustainability and ethical business practices, the importance of ESG Reporting has evolved beyond a data collection exercise that only meets compliance standards and KPI reporting requirements. Companies are expected to set targets, track progress, and provide assurance on the accuracy and reliability of their ESG data. Investors now recognise the materiality of ESG factors to financial performance, as analysts assess not just financial disclosures, but also the implications on ESG risks and opportunities. This has resulted in a trend towards integrating ESG Reporting into existing financial reporting processes.
Adoption of the right technology is crucial for streamlining your ESG data collection and financial consolidation processes, ensuring data integrity and accurate reporting of disclosures for IFRS S1, IFRS S2, CSRD, GRI, CDP, industry-specific requirements and more.
OneStream enables a unified approach to reporting of ESG and financial disclosures in one solution, delivering a comprehensive picture of corporate performance. By seamlessly integrating ESG into existing close processes, teams across your organisation are empowered to meet compliance standards, enhance sustainability practices and improve stakeholder engagement.
Simplify the collection of ESG data through end-to-end user workflows, data load automation, controls and validations to ensure accuracy and completeness.
Integrate and consolidate ESG data from source systems across your organisation, including ERP systems, ESG-specific software, and external data providers, to create a single source of truth.
Improve collaboration and alignment of sustainability efforts across functions by integrating financial and non-financial data in the same metadata model and embedding ESG KPIs into financial and operational plans.
Leverage advanced analytics to evaluate the impact of ESG risk factors, such as climate change, community relations, and use of resources in your supply chain to better understand and mitigate ESG issues that could impact your financial performance.
Secure future growth and investment opportunities by showcasing your performance against ESG targets with interactive data visualisations and customised executive-level dashboards.
As one of OneStream’s earliest partners, Concentric Solutions has been a trusted implementation team for over 10 years. We work with customers across a range of industries and have domain specialists ready to help drive value from your OneStream platform.
Discover how we can support you on your ESG Reporting journey...
Read insights from OneStream’s CFO Executive Outlook Report on the latest trends, risks and opportunities in ESG Reporting, including how companies are responding to new reporting requirements.
Explore how ESG performance has become the new imperative for CFOs, why Finance teams are best suited to take on responsibility for ESG reporting and the importance of integrating ESG and financial data.
Find out how Accell Group streamlined its ESG Reporting by transforming their data collection and consolidation processes, and integrating ESG with financial data via a tailored dashboard in OneStream.
We worked with Concentric throughout our successful implementation ... This enabled our team to plan and ultimately deliver effectively on-time and to budget.
Concentric were experts in each area that our project required. They had flexibility and excellent approachability with the ability to operate face to face on multiple sites ... Concentric had the ability to go the extra mile to support in times of urgency or change to project plan.
The upgrade was seamless, with sound advice on hardware requirements. Go live was trouble free and there has been positive feedback from all users.
Concentric are excellent at what they do and the implementation has radically changed our financial reporting processes – for the better!
Atkins had a tight delivery and budget to work with and Concentric were highly approachable and resourceful in ensuring that we met our goals.
The quality of staff and their technical knowledge really is a core strength. They know the products inside out and that’s what you expect from an applications specialist.
The new solutions have markedly improved data quality, streamlined the submission cycle, automated key analyses such as working capital and treasury reporting, and provisioned meaningful reports to key stakeholders. All this has been achieved with minimal increase in Head Office staff despite the business growing exponentially.
In the 4 years I’ve been working with Concentric, they have always been at the end of the phone, very helpful.
Concentric are a highly professional and very competent solutions provider. Project management was exactly as I would expect from such a company. The staff provided were highly competent and keen to ‘go the extra mile’ to ensure a successful implementation. The system went live on time and to budget. It is so much faster and more reliable than the previous service.
We are very happy Concentric customers and are extremely grateful to all of the team at Concentric for their ongoing support and guidance. If your mission is to build a customer base of Concentric fans - you certainly achieved that!
We implemented OneStream with Concentric and have benefited from greatly improved productivity and efficiency and significantly improved management information. Concentric brought a combination of systems experience and proven accounting understanding that has helped us deliver a solution that is scalable and easy to deploy.
We conduct indepth needs analysis to build a solid roadmap for your Finance Transformation journey.
Speed up your close cycle; build more trust and confidence in your numbers.
Process intelligence and systems integration.
Integrate financial and operational planning solutions, delivering accurate insights for more informed decisions.
Application and technical support, administrative maintenance and application management.
Unify ESG and Financial Reporting across the organisation.
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