The Suitable ESG Reporting Solution for you | Cityray

ESG reporting solution serves as a tool for communication and disclosure, aiming to enhance corporate transparency regarding an organization’s ESG performance.

ESG Reporting Solution

In recent times, numerous companies have made a dedicated effort to enhance their environmental, social, and governance (ESG) performance and disclosures. This is driven by the rising expectations of investors, regulators, and customers. Consequently, there has been a noticeable shift towards utilizing specialized ESG reporting software instead of relying on spreadsheets or generic file management systems when it comes to conducting annual ESG reporting.

What is ESG Reporting Solution

An ESG reporting solution serves as a tool for communication and disclosure, aiming to enhance corporate transparency regarding an organization’s ESG performance, risks, and opportunities. ESG reports should be transparent, evidence-based (instead of being vague, anecdotal, or solely qualitative), genuine (avoiding “greenwashing,” spin, or misrepresentation), and present a clear narrative of how the company strives for improved social, environmental, and equitable outcomes for its employees, customers, external communities, and the planet, supported by evidence.

Typically, ESG reports are published by the ESG, investor relations, or corporate affairs department of a company, requiring a collaborative, cross-functional effort to create them.

In most countries, ESG reporting solution is voluntary rather than mandatory. However, recent legal changes, announcements, and forthcoming regulations in 2022 and 2023 in the United States, Canada, European Union (EU), United Kingdom, Singapore, Australia, and other regions are imposing stricter disclosure requirements on various types of organizations, particularly publicly-listed companies. These requirements entail measuring, reporting, and disclosing their ESG performance.

Furthermore, an increasing number of investors and large companies, such as Walmart, Disney, and Amazon, are demanding ESG and sustainability commitments and disclosures from their investments, vendors, suppliers, and partners. Employees, customers, and communities are also becoming more inclined to advocate for greater and more impactful ESG commitments from companies.

Why you need ESG Reporting Solution

ESG reporting can present complexities, especially for larger enterprise businesses or organizations. Just as dedicated accounting software like Quickbooks or Oracle Netsuite is preferred for producing corporate financial reports such as a 10-K, relying on manual and spreadsheet-based ESG reporting and data management poses risks of errors, inefficiencies, and significant challenges related to visibility, collaboration, accuracy, and governance. Moreover, it consumes a considerable amount of time.

Considering that ESG disclosure requirements are being incorporated into various aspects, including SEC regulations and procurement contracts in 2023, it is crucial to have accurate, consistent, well-structured, and easily accessible information. It should not require excessive time and effort for data collection and communication.

Additionally, ESG reporting is a recurring annual obligation. Utilizing a system specifically designed for auditing, archiving, historical comparison, and benchmarking proves to be much more efficient.

The advantages of ESG Reporting Solution

For HR:

  • Streamlined workflow: The system automates many of the daily tasks related to recording and managing data, thereby releasing human capital, reducing the workload of HR staff, saving time and energy, and enabling them to handle and arrange more tasks. For example, for a hotel group managing 2800 people, it takes approximately two weeks or more to record, consolidate data, and calculate the salary of each employee. Collecting data and organizing records is a complex and lengthy process, which can be a daunting task for large chain hotel groups. By using the human resources management system to automatically collect, organize, analyse, and report data, problems that may exist can be checked and verified. Reducing human errors and inspection costs, and greatly improving work efficiency and accuracy. By replacing manual processes with the system, the entire payroll calculation for the company can be completed in just 10 minutes, saving 90% of the time. This means that human resources can be better utilized for other important tasks, helping to streamline workflows, while improving overall efficiency and productivity.
  • Increased efficiency: The system can automatically coordinate a large amount of work related to human resources, reducing manual calculation errors and delays. Moreover, the system can generate various types of analytical reports, providing more informative references, which is essential for improving company decision-making and developing strategies. For example, when calculating complex data such as EOA 713, the system provides fast and accurate calculations, greatly saving time and effort.
  • Data integrity protection: The system checks and verifies data on its own, ensuring the integrity and accuracy of the data.

For employees:

  • Ensuring rights and benefits: The system automatically prompts a message to ensure that employees’ benefits and salaries comply with legal regulations, such as EOA 713, 418, etc., speeding up administrative processing time. At the same time, automating many tasks related to salaries, benefits, and holidays greatly reduces errors and delays, helps to improve work efficiency, and ensures the rights of employees.
  • Providing a better employee experience: The solution provides convenient online application and inquiry functions, allowing employees to view their salary statements and holiday balances anytime, anywhere, providing a better employee experience, and helping employees balance their work and life arrangements.

For client companies:

Cityray’s hotel industry solutions effectively assist companies in managing ESG in three aspects and achieving sustainable development.

  • Sustainable development: The system can help companies achieve paperless office work. All applications (such as holidays, overtime record) and paper reports (payroll, forms) are carried out electronically, greatly reducing the use of paper, thereby reducing the impact on the environment, and fulfilling corporate social responsibilities. Paperless office work improves human resource management efficiency, also improving overall company management efficiency.
  • Reviewing the company’s social performance: The data in the system can reflect the company’s performance in the social aspects, thereby assigning regulatory strategies. For example, the system can reflect gender equality, such as the ratio of male and female employees, the comparison of male and female salaries, promotion ratio, training opportunities ratio, training courses provided by the company for all employees, occupational safety, work injury cases, and other welfare levels.
  • Demonstrating standardized social governance responsibilities: Introducing the system can standardize processes, ensure internal and external compliance, help companies comply with employment regulations, reduce non-compliance risks, avoid violations of employment regulations, and suffer prosecution and losses.

Cityray’s comprehensive hotel industry solutions improve corporate governance efficiency from multiple perspectives, not only reducing administrative time but also establishing a good employer brand, helping to improve the company’s brand image and reputation, thereby increasing corporate attractiveness, and helping to attract talent.

ESG Reporting Modules

  • Personnel data management:

The hotel industry needs to manage a large volume of employee data, including personal information, work experience, skills, and certificates. This data is necessary for employee recruitment, training, promotion, transfer, retirement, and to ensure that employees have the necessary abilities and qualifications. Additionally, the hotel industry must also ensure the comprehensive protection for employees’ safety and health during work. Cityray’s HR management solution collect and manage data such as statutory requirements, personal qualifications, and experience data to ensure compliance with employment regulations, legal employment of employees, and the ability to perform their duties. In the hotel industry, this data is particularly important because it helps companies confirm employee experience and ensure compliance with relevant regulations and standards.

  • Compensation management:

The hotel industry needs to manage various types of compensation items, including basic wages, allowances, and bonuses. Employers must ensure that employee compensation meets local legal standards to ensure employee benefits and social security. Cityray’s solution calculate employee compensation based on data provided by other modules, combined with a pre-configured salary calculation engine. Additionally, the solution provides employees with salary and benefits according to legal requirements (such as EOA713, MPF, IR56 form). The system also provides electronic payslips through an employee self-service system, allowing hotel businesses to better manage employee compensation and benefits.

  • Workforce management:

The hotel industry needs to manage a large number of employees, including full-time, part-time, and temporary employees to meet the demands of different holidays and large banquets. In the hotel industry, employee scheduling and time management are especially important because hotels operate 24/7 and require comprehensive understanding of employee work hours and efficiency. Therefore, employers need to accurately manage employee scheduling, time off, attendance, and performance to ensure work efficiency and customer experience. The hotel industry solution allows HR colleagues to schedule electronically, facilitating the allocation of human resources. The system also combines vacation management functions with scheduling systems, allowing employers to predict staffing needs more accurately. Additionally, the hotel industry solution is equipped with a casual labour workforce management system budget to manage the flexible working hours and personal information of temporary workers more effectively. Moreover, the system monitors and track whether employees are working in designated areas in real-time, ensuring that the hotel can provide high-quality service in the long run.

  • Compliance management:

The banquet projects of hotels involve many temporary employees, and the system can assist the hotel industry in ensuring compliance with hiring regulations, ensuring that the identities of hires are legal, and that they can work in Hong Kong. The EOA 713 Employment Ordinance in Hong Kong ensures that the compensation system for employees is calculated based on the average monthly salary of 12 months, and employers must strictly comply with this regulation. If this type of calculation were to be processed manually, it would require a lot of time and resources. However, processing it with HR systems guarantees the accuracy and protection of employee benefits, and ensures that the compensation provided by the hotel complies with Hong Kong employment regulations such as EAO713 and minimum wage requirements. The system also replaces paper records, helping businesses save important data such as employee records and contracts according to legal regulations.

  • System authorization management:

Some large hotel groups have many independent hotels that need to be managed. In special cases, the headquarters of the hotel group needs to adjust data between different hotels for business analysis, such as temporary work hours, revenue growth rates, and the relationship between manpower costs. However, since each hotel has independent management rules, and the system has different personal sensitive data of employees, Cityray’s hotel industry solution can set different permission levels to allow the headquarters by allocating different functional permissions to its employees. It also allows permissions to be set to view specific data to protect the privacy and security of data. This allows hotel groups to manage their businesses uniformly while maintaining the unique flexibility of individual hotels.

  • Identity recognition:

Since there are numerous customers and personnel entering and leaving the hotel every day, it is necessary to fully grasp the identity of the people to ensure safety. Cityray’s hotel management solution can identify temporary workers who have been hired to work, and limit passes to specific areas to ensure that only authorized personnel can enter. It helps to track employee identities, enabling hotel businesses to better manage and schedule employees while also ensuring the safety of customers within the hotel.

  • Intelligent Benefit Distribution

In addition to providing identity verification, the temporary worker management module can intelligently print breakfast, lunch, and dinner coupons for temporary workers based on their work schedule. In addition, the system will intelligently determine the allowances that need to be issued based on the employees’ commuting times, such as transportation allowances during the early morning hours.

  • Cost budget management for temporary workers

When setting up a banquet or event project, a department budget can be established based on the required manpower costs, such as job category, working hours, number of people, and hourly wage provided. The demand for temporary workers will only take effect after approval.

Why you need ESG Reporting Solution from Cityray

The following 5 aspects demonstrate the high-quality features and advantages of Cityray’s ESG Reporting Solution

  • Availability: Cityray’s ESG Reporting solution has never experienced sudden shutdowns, fully demonstrating its stability and reflecting Cityray’s commitment to monitoring and following up on the results of the solution every day.
  • Reliability: This solution emphasizes corporate compliance and data integrity, with system prompt functions that can regularly remind employers to comply with legal regulations. The low-code development technology used in conjunction with the solution provides accurate and consistent calculation results, demonstrating the solution’s reliability for businesses.
  • Maintainability: Cityray’s ESG Reporting solution is maintainable, based on low code and formulas, making it easy to maintain and update, and able to effectively provide high-quality services.
  • Security: The industry solution has high security, adopting role-based security settings to ensure the security and confidentiality of sensitive data.

Cityray strives to maintain the high-quality design of its products, as seen from the following 4 aspects:

  • Customer feedback survey: A regular annual “Customer Feedback Questionnaire” is conducted to collect frontline user feedback from customers and rate Cityray’s services and products. The usability of the solution is constantly reviewed to keep up with market trends and update the functionality of the solution regularly.
  • 0% system implementation failure rate: Before the system is officially launched, it is tested and monitored carefully to achieve Cityray’s excellent record of 0% system implementation failure rate.
  • Commitment to customers: Adhering to Service Level Agreements (SLAs), Cityray commits to execution time, delivery time, response time, and resolution time for customers. Cityray also promises to make free modifications to its content due to government regulation changes. This reflects Cityray’s concern for product quality and its strong commitment to customers.
  • Long-term customer relationships: The support of customers over the years directly reflects the quality, with nearly 60% of customers using Cityray’s solutions for more than 17 years, demonstrating that Cityray’s products and services can meet customer needs and maintain a high level of quality, as well as establish long-term customer relationships.

About the author: Niki NG