Originally published by SAP BRANDVOICE on Forbes.com

With the vast majority of business transactions around the world touching some SAP system, there is no better company to help others on their data-centric sustainability journey. Sebastian Steinhaeuser, Chief Strategy Officer, SAP, was on hand to explain how software enables companies and governments to capture and monitor data to demonstrate compliance and use it to make better decisions.

“There are three main challenges around climate data,” said Steinhaeuser.

The first is to record it accurately. Currently a lot of data is collected manually on spreadsheets. Automating and standardizing data collection makes it more reliable. Having the data in the system makes it easier to share across the entire supply chain. The second big challenge is regulatory.

“A lot of companies are super nervous about regulatory compliance,” said Steinhaeuser. “Automated, standardized monitoring and reporting addresses the issue. And the last challenge is to act faster.”

Steinhaeuser urged every company to develop a strategy with clear ambitions and targets to guide their climate journey.

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