Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Celonis and EcoVadis outline sustainable procurement partnership

by uma


June 2022 – Celonis said it has formed a strategic partnership with EcoVadis, a leading business sustainability ratings platform, to operationalise sustainable procurement. EcoVadis recently raised $500 million in venture funding led by Astorg and BeyondNetZero, General Atlantic’s climate investing venture, with participation from Singapore-based GIC and Princeville Capital’s Climate Technology Fund. 

Sustainability has become a lead issue for companies along with supply chain and inflation as a bevy of executives and Celonis customers outlined at World Tour 2022The three topics are increasingly intertwined because enterprises need to become more efficient. In other words, what saves money can also advance sustainability goals. The next move will be to operationalize sustainability

Under the partnership, Celonis Execution Management System (EMS) will integrate EcoVadis ratings. The partnership includes four pillars:

  • Data-driven supplier selection: EcoVadis’ supplier sustainability ratings will be integrated with Celonis EMS to provide businesses a dashboard to view supplier sustainability and proactive suggestions on the best supplier for any orders. Those supplier decisions can then be audited. 
  • Managing supplier onboarding and performance: By melding the EcoVadis catalog of sustainable suppliers with Celonis EMS, businesses will be able to onboard compliant suppliers and offboard ones with poor performance.
  • Reporting on sustainable procurement spending: Celonis EMS will integrate EcoVadis sustainability data across multiple views and filtering options to comply with legal regulations including California’s Transparency in Supply Chains Act or the German Act on Corporate Due Diligence in Supply Chains).
  • Sustainable transparency in sales: The partnership will provide transparency on a product’s ESG performance for end customers by sharing average supplier ratings.