KPMG is acting as the lead launch and design partner for new ServiceNow’s new integrated environmental, social, and governance (ESG) solution, as well as expanding their partnership to work on further ESG solutions and services.
The new solution integrates ServiceNow's ESG Management and Reporting with its ESG Project and Portfolio Management and Integrated Risk Management solution.
ESG Management and Reporting enables companies to document material topics, establish goals and KPIs, track performance, collect and validate audit-ready data, and create disclosures that align with major ESG reporting frameworks, according to ServiceNow.
KPMG firms will further integrate it with ServiceNow Security Operations and Vendor Risk Management solutions to create a solution stack that encompasses risk and compliance, internal audit, operational resilience, and cybersecurity.
Other new solutions to be developed will help with ESG strategies, programs, and initiatives such as enhancing diversity and inclusion, reducing carbon emissions and business continuity management to enable users to contribute to “a more sustainable, equitable, and ethical world,” a statement from KPMG said.
“To adapt and respond to the ever-changing global marketplace, and the evolving expectations of consumers, regulators, and investors, it is imperative that companies increase their trust profiles with their stakeholder ecosystem,” said KPMG IMPACT and ESG US leader Rob Fisher, who is also a member of the KPMG Impact Global Steering Group.
“This is why KPMG firms are increasingly focused on helping clients to innovate and grow responsibly. Our continued collaboration with ServiceNow is now more important than ever as we combine skills in ESG, risk, technology and consulting to create the right digital tools and solutions to help clients prepare to meet these expectations.”
KPMG will be prioritising two solutions for release by the end of the year – the first will address supply chain transparency while the second will focus on ESG management through combining projects, data and governance.
“Activating ESG across the enterprise will require a team effort and careful oversight. Maturing from myriad, often isolated efforts to an efficient system requires the ServiceNow ‘platform of platforms’ approach,” added ServiceNow risk business unit general manager and vice president Vasant Balasubramanian.
“Over time, we also believe companies will be most successful by integrating ESG efforts within strategy, management, governance, and reporting for their entire organisation. Building on our existing momentum with KPMG, we have a running start in helping customers overcome these complex challenges to workflow a better world.”