New technologies have greatly impacted the social, economic and corporate spheres in recent years. This has caused a drastic shift in the business landscape, spurring many companies to integrate digital transformation strategies into their short-term goals.
Corporate Social Responsibility is one area in which digitalisation has helped companies to advance. Implementing new technologies not only adds business value but supports good CSR practices and furthers a more environmentally friendly vision.
Below we take you through a brief background of both concepts:
What is digital transformation?
Digital transformation is a course of action in which digital technology is applied to various business processes in an effort to improve efficiency, deliver value, improve company culture and streamline operations.
It is understood that we “digitize information, digitalize processes and roles for extended platform-based business operations, and digitally transform the business by promoting a digital strategy, customer-centric and value-oriented digital business models, and architecture-driven digital change.”
New emerging technologies and their rapid expansion into today’s society and our daily lives mean companies have had to adapt to the current scenario to meet needs and expectations— especially after the challenges presented by the pandemic. Businesses are now looking to replace traditional processes with digital operations.
Swiftly changing course to implement digital transformation strategies and tools hasn’t been an easy task for every company, but today’s competitive market requires it. Businesses must offer up-to-date, tailored solutions that meet clients’ needs to retain their customer base and stay relevant.
You may be interested in: 6 reasons why digital business transformation is essential in 2021
What is CSR?
Corporate Social Responsibility is “a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders,” according to the United Nations Industrial Development Organization (UNIDO).
The International Labour Organization (ILO) defines CSR as “a way in which enterprises give consideration to the impact of their operations on society and affirm their principles and values both in their own internal methods and processes and in their interaction with other actors.” It should be considered a fundamental part of company management, systemic, and connected to sustainable practices. However, the ILO notes that CSR is voluntary, meaning it transcends a company’s legal obligations.
Corporate Social Responsibility is not a new concept. As businesses expanded in the 1940s, companies “were seen as institutions with social responsibilities” and there was a wider societal conversation on the implications of that. The responsibilities of businesses began to be defined in the 1950s, which “can be understood as the beginning of the modern definitional construct of Corporate Social Responsibility.”
Improve your CSR through digital transformation
1. Manage environmental impact
Digital business transformation measures can help companies become more eco-friendly on both a small and large scale.
One way to take the first step is by going paperless. Docuten’s administrative digitalisation solutions like digital signature and electronic invoicing enable paperless operations. This small change has big repercussions: your company can contribute to a reduction in CO2 emissions, conserve water and save trees that would otherwise be used in the manufacture of paper. Corporate social responsibility and sustainability go hand in hand.
2. Rise to the occasion of expectations and needs
Companies have to adapt business procedures to address societal and environmental concerns, and offer strategies that boast a more socially responsible vision to stakeholders and the public. The well-being of the planet and its inhabitants is at stake, as well as the reputation of your company.
Docuten’s digitalisation solutions will help you meet customer and stakeholder expectations and move your company towards a more socially conscious future. It will also enable your business to align with the philosophies of a more aware, technologically-oriented talent pool, automating your company’s workflows and facilitating the onboarding process for new hires.
3. Comply with current legislation
Best practices in corporate social responsibility increasingly coincide with legal compliance on both the national and international level. All solutions offered by Docuten to sign documents electronically, as well as manage e-invoicing and payments, comply with European digital regulations.
Digital signature is legally valid under European Regulation (EU) No 910/2014 on electronic identification and trust services for electronic transactions (eIDAS regulation), as well as other international legislation. All Docuten signature solutions comply with said regulation, so they are fully valid both nationally and internationally.
Sending and receiving e-invoices through Docuten also complies with current regulations on electronic invoicing, such as PEPPOL and the European Standard EN 16931.
4. Combat fraud
Companies that promote a business strategy based on corporate social responsibility best practices should be coherent and ethical in their approach, which includes combating fraud. The pillars of CSR reflect a strong belief in ethical values, which aligns with a commitment to preventing and detecting fraud.
Digital signature solutions help companies avoid problems traditionally associated with signing on paper, like document falsification, since you can easily identify the signatory and the signed document is inalterable.
Additionally, managing invoices electronically enables greater control and facilitates aboveboard procedures, preventing companies and vendors from engaging in unethical tax practices.
Docuten is an easy-to-use, legally compliant and secure platform that offers end-to-end administrative digitalisation. If you would like more information about Docuten and how it works, don’t hesitate to contact us!