Global brands and retailers source their products from factories all over the world and rely on corporate social responsibility (CSR) audits, among other methods, to assess a supplier’s compliance with codes of conduct, international standards and local law. An effective CSR audit will contribute to supplier compliance and risk mitigation.
CSR auditing is not new, it’s been around now for 25+ years. But what has changed is the shift from auditing for the sake of auditing to a more holistic approach that takes advantage of the corporate social responsibility software/platforms that have emerged. These platforms serve as a centralized location for supplier information (supply chain mapping), audit data collection and analysis which allows for organizations to identify trending risks.
Platforms such as Intertek’s own, Inlight, allow for organizations to manage and track the effectiveness of their CSR initiatives. Global companies are able to leverage in-depth analytics to support communication and disclosure of ESG and supply chain risk program efforts as well as to drive improvement in their supply chain.
It comes as no surprise that the global corporate social responsibility software market is anticipated to project robust growth.