Tofuture held a morning conference last week in Hotel Haven located in center of Helsinki. The meeting was targeted to Tofuture’s current clients, partners and to everybody who was interested to hear about latest news related to companies’ non-financial reporting obligations as well as about Tofuture’s upcoming CSM features.
The meeting started with delicious breakfast in Hotel Haven’s premises and with free discussion. The latest reporting period for the financial year 2016 and the new EU directive 2014/95/EU about non-financial reporting seemed to be the hottest topics for many of the participants.
Tomas Otterström – Partner, Advisory & Head of Responsible Investment and Sustainability Services of KPMG Oy Ab – started the morning’s presentations by introducing the new NFR directive and how it will affect companies’ reporting for financial year 2017. As we all might know by now, the new directive will affect the largest Finnish companies and all the public interest companies such as credit institutions. In Finland this might not cause significant increase of new reporters since many of the largest companies are already reporting about non-financial information but this will force many international firms to report about sustainability issues in the future. All in all the new mandatory reporting can drive companies to think more about corporate sustainability matters and hopefully will lead into more sustainable actions.
Liisi Tamminen and Aki Finér gave us a great example how their company Raisio Oy, who is Tofuture’s client and has been using CSM system in their sustainability data gathering, has taken account of the corporate responsibility issues in the company’s everyday business. It can be said that especially in the food business, consumers are nowadays requiring more and more information about products’ healthiness, information about food chain, origins of the different ingredients, where the production happens and by whom etc. Possible abuses in company’s supply chain and production lines might have severe consequences for company’s reputation and decrease the demand of its products. According to the Raisio’s representatives, reporting non-financial information is a good way to prove to the company’s stakeholders that the sustainability issues are taken seriously in day-to-day business.
After Raisio’s presentation, the discussion moved to more practical way of improving company’s sustainability performance. As many already knows, Tofuture and Qlik, which is the leader in the visual analytics market, have co-operated during winter / spring 2017 and have been building a more dynamic and visual reporting tool for Tofuture CSM. For a short introduction, Qlik is an international company with more than 40 000 customers all over the world and with more than 24 years of experience on the field, and working with such a successful and experienced company has taught us a lot as well. Qlik reporting tool will be issued during upcoming summer 2017 and Tofuture will offer two-day workshops for its customers in order to help the customers to use the new tool in best and most efficient way (more info will follow soon!).
The breakfast meeting was ended with the managing director of Tofuture’s, Joona Lattunen’s, words about the company’s next projects and new features of CSM. We are happy to announce that during spring 2017, addition to the Qlik reporting tool and other development projects, Tofuture will release a new mobile application for data entry, which will help the CSM users to gather data in day-to-day basis and efficiently report possible accidents to other users. Tofuture is also applying for the new GRI certificate to match the new obligations regarding GRI Standards.
All in all we had a very successful and interesting morning and surely it can be said that everybody learned something more about the issues covered by the presentations. This was an excellent kick start for the spring 2017!