The European Union has recently published several regulatory updates related to corporate sustainability. These changes affect sustainability reporting requirements, due diligence obligations, climate-related import rules, and classification systems like the EU Taxonomy. Below is a summary of the key developments that may impact companies operating in or with the EU market.
In service companies, the role of the customer is significant, often integrated into the service production process. These businesses focus on meeting their clients’ needs by delivering excellent service, building relationships, and providing exceptional experiences. The CFO’s role in service companies is often extensive and multifaceted. In growth companies, the CFO's responsibilities may include finance, financial management, legal matters, and human resources. This blog post will focus on the key elements of financial reporting and planning.
Process mining promises a lot: transparency into processes, fact-based improvements and automation-driven efficiencies. Yet many organisations only get lukewarm results because they forget one key thing: it's not about the tool. It's about changing how we work.
Process mining is a powerful tool, but as it is with a lot of technologies, it's full potential is often unreached. A lot of organisations kick off with a lot of confidence and enthusiasm, but end up disappointed when the expected ROI is not reached. Why does this happen?
Most companies don't lack process diagrams - they're a plenty. The real issue is that they often depict ideal workflows rather than what actually happens. Everyday exceptions, delays and unnecessary steps tend to go unnoticed if development efforts are based only on models or assumptions. Process mining brings much-needed visibility into this gap.
Most organisations collect a huge amount of information about their staff, including data on well-being, skills, recruitment and rewards, to name a few areas. However, all too often, this data remains an internal HR tool and is not used to inform business decisions or provide valuable insights.
The European Commission’s proposal to make EU Taxonomy reporting voluntary for companies with turnover below €450 million is a major regulatory change. However, companies should still pay attention to the Taxonomy for several reasons.
The EU Taxonomy is becoming a core element of sustainable finance regulation, setting a common standard for what qualifies as environmentally sustainable activity across the EU. Its influence is expanding through integration into major legislative frameworks such as the SFDR, EBA Pillar 3, and the EU Green Bond Standard.
How does globalization affect global value chains, and what risks and challenges do companies face in terms of transparency, the environment, and human rights?