#7 - Between CSRD & Co., Year-End Is Just the Beginning

Today, we’re diving into how the CSRD is turning ESG reporting into an unavoidable obstacle course for everyone—from SMEs to corporate giants—with an exclusive interview featuring the CEO of Bologna Airport, plus the latest insights from back-office innovations. 👀

⚖️ Compliance Focus

The CSRD Challenge 📊

The Corporate Sustainability Reporting Directive (CSRD), issued by the European Parliament, is set to revolutionize how European companies report sustainability data. Replacing the previous NFRD, this directive aims to enhance transparency and accountability in environmental, social, and governance (ESG) performance. The CSRD is rolling out in phases, starting with large enterprises in 2024, and extending to publicly listed SMEs in 2026.

Companies will need to comply with strict standards for collecting and verifying data on emissions, social impact, and governance. And it’s no joke—non-compliance could lead to hefty fines and reputational damage. The new regulations also mandate reports in a unified digital format, verified by independent auditors. The directive now covers nearly 50,000 companies across Europe, a sharp increase from the previous 11,600. ✍️

So, are you ready to turn compliance into a competitive advantage? 🏆 The supply chain will play a crucial role in aligning with these new obligations. For a deep dive into the details, check out our dedicated analysis here. 🚀

🖼️ Meme of the Day

It’s the end of the year, and in procurement, the annual discount is an irresistible call. 😏 But beware—chasing a bargain can be a dangerous temptation… because saving money isn’t always worth the trade-off! 🎯

💻 Tech in Procurement

Back-Office & AI: The Perfect Match 🤝

Who would have thought that back-office operations would become the driving force behind the next major tech revolution? Yet, that’s exactly what’s happening thanks to generative AI. Functions like finance and procurement are ideal candidates for AI adoption, given the number of repetitive and automatable processes. AI isn’t just eliminating boredom—it’s bringing unprecedented efficiency! 🚀

A great example? Deutsche Telekom has developed a procurement chatbot trained on corporate policies and historical strategies. This AI assistant answers compliance questions, provides supplier recommendations, and offers insights on contracts and pricing. In short, it’s revolutionizing the procurement team’s work by freeing them from repetitive tasks.

This isn’t science fiction—it’s the new reality of agile procurement, where AI helps make faster, smarter decisions. And if you thought these technologies were only for tech giants, procurement is here to prove you wrong. 🔄

Source: Bain

🎙️ Podcast Section

In this episode of the Compri Bene podcast, we had a chat with Nazareno Ventola, CEO of Bologna Marconi Airport. He shared how, with the CSRD coming into effect (which you’re now an expert on 😉), Bologna Airport is facing a massive challenge in tracking and organizing sustainability data. Managing this information—often difficult to monitor—is a major hurdle for an industry that already demands flawless operations.

On the flip side, AI is transforming their processes, starting with security screenings. Sustainability and technology—a delicate balance above the clouds. 🛫