Esker adds ESG-focused features to Source-to-Pay platform

Oz he expanded his Source-for-payment The Platform (S2P) will include new features aimed at helping businesses comply with environmental, social and governance requirements (ESG) regulations around the world.

The features are designed to help chief financial officers (CFOs) manage an ever-changing regulatory framework, mitigate risk and enhance transparency, reporting and collaboration, the company said on Tuesday (July 9). press release.

“Implementing sustainable development is not just a choice, it is a strategic imperative” Catherine Dupuy-HoldichS2P product manager at Esker, said in a release. “Companies need to weave ESG into every thread of their S2P fabric because it’s not just about transactions, it’s about transforming the entire supply chain into a force for sustainability.”

According to the release, the company’s new S2P platform capabilities track ESG metrics, monitor their performance and identify areas for improvement.

They provide a clear picture of a company’s environmental impact through transparent reporting and easy-to-read dashboards, the release reads.

According to the release, Esker’s global platform helps companies identify suppliers that meet sustainability goals, evaluate and select suppliers based on ESG scores, and purchase environmentally friendly and energy-efficient products and services.

“Esker Accounts Payable enables companies to predict and identify invoices at risk of late payment to protect financial stability and support ethical business practices,” the company said in a statement. “Esker also offers dynamic discounting, contributing to healthy supplier relationships and a more sustainable business model.”

The integration of artificial intelligence (AI) and machine learning aims to further enhance the capabilities digital payment systems, Ari Widlanskymanaging director and chief operating officer of Esker U.S., told PYMNTS in an interview published in June.

These technologies can provide deeper insights into customer behavior, optimize payment processes and predict future trends.

“Esker is a pioneer in AI integration, with 25% of our 1,100 employees worldwide engaged in R&D,” Widlansky said.

In another recent move, Esker and EY Services France in June it was announced that they had joined forces to help companies manage the emergence of disruptive technologies and regulatory changes.

Their alliance comes as the companies face regulatory changes that include implementing Corporate Sustainability Reporting Directive (CSRD) in Europe.