Orientation for the transformation - the score4more benchmarking

Jan 10, 2024
Orientation in the jungle of transformation

What is important? How good are we already? What should we do next? These are common questions asked by companies as they navigate the transformation jungle on their way to sustainability.

In the jungle, orientation is everything. And why get lost in the jungle when there are GPS and online maps to guide you? You can also use smart solutions in sustainability to navigate safely through the transformation.

Benchmarking provides orientation

Benchmarking is a smart solution. Benchmarking shows you the position of your company in the transformation compared to pioneering companies in the same industry as so-called "benchmarks". If the benchmarking also includes the measures of the pioneering companies, this also opens the way to improvement. You understand why a "benchmark" company is further along in its transformation. With these best practices, you can derive more directly what you can do yourself to improve. A culture of continuous improvement is directly supported by benchmarking.

Important in benchmarking: the right context

Benchmarking is not just about the data itself - it is about contextualizing this data correctly within the industry, e.g. in relation to relevant and comparable sustainability issues. In the right context, comparisons with industry peers become meaningful and useful. And meaningful patterns, trends and best practices can be identified if unstructured raw data from sustainability reports, for example, has been translated into structured profile data.

The score4more benchmarking

The score4more benchmarking provides the orientation and context described above. With a data pool of 2,000 companies in 100 sectors with more than 50,000 measures and solutions for transformation, it provides a broad database to identify pioneers and enable benchmarking per sector.

With online benchmarking, you can compare your own company with four pioneering companies in the industry. The benchmarking is generated in three steps:

1. Sustainability profile:
Reporting data is structured into industry specific profile data: the profile shows measures, solutions and key figure values in key criteria.

2. Scoring:
The performance in the profile is then classified with the score4more scoring in terms of position in the transformation from level 0 - Inactive to level 5 - Leading.

3. Benchmarking:
The highest scores can be used to identify pioneering companies in an industry, which can be compared with their scores and best practices in benchmarking.

score4more has largely automated the process with the help of software and AI/machine learning, enabling small and medium sized companies to gain insights that were previously unavailable.

score4more benchmarking now available in the Pro Account

You can activate and use benchmarking in your score4more Pro account. There you can see the scores of your company in comparison to pioneering companies in your sector. You can also view the best practices of companies that have implemented these in individual criteria.

Illustration of benchmarking feature

The criteria in the profile are used to contextualize the data in a meaningful way: Development status and measures in a criterion such as renewable energies are directly comparable.

This also makes it possible to utilize the wealth of practical experience and knowledge that has been gathered over the years in companies and to provide companies with orientation.

score4more simplifies this researc -intensive process and provides you with your industry specific benchmarking - directly from your Pro account.

Summarized advantages of score4more benchmarking:

1. Customized industry content:
Use the benchmarking tailored to key sustainability topics in your industry to provide you with industry relevant best practices. These will specifically help you to take the next step in your transformation and improve your sustainability performance, e.g. through measures for better energy efficiency or innovations for the circular economy.

2. Orientation for setting priorities:
Gain orientation and clarity on your sustainability performance compared to others in your industry and use this knowledge to set priorities for your transformation in order to improve in a targeted manner and close gaps.

3. Learn from the best:
The score4more database with 2,000 profiles includes more than 50,000 measures and solutions from transformation pioneers. Benchmarking gives you access to this wealth of knowledge and allows you to learn more quickly what is important in terms of sustainability. Especially for companies that are still at the beginning and looking for orientation, benchmarking provides direct orientation and clarity for the start.

Why score4more's benchmarking is special:

1. Industry specific focus:
There are many sustainability questionnaires and rating systems. But only a few manage to capture the specifics and material issues of an industry in a simple and practical way and make them meaningfully comparable. This approach is particularly helpful for managers who do not want to work their way through long lists of ESG compliance issues but want to focus on strategically important issues.

2. High price performance ratio:
Good benchmarks are often expensive: either an expensive consulting project has to be set up to obtain meaningful results or standard offers are cheap but not meaningful. score4more manages to offer meaningful sustainability benchmarking at a reasonable price for only 529 EUR/year as part of the Pro package, which is affordable for SMEs.

3. Not only figures, but also measures:
Often, benchmarking only compares key figures without being able to interpret why performance is better or worse. In score4more benchmarking, scorings and measures are combined, so you also see best practices behind scorings, making benchmarking directly actionable for actionable strategies for improvement.

4. Easy online access:
With score4more Pro, industry specific benchmarking is just a few clicks away in your score4more account. Integrate these insights seamlessly into your decision-making processes.

Look forward to benchmarking as your new navigation tool in the jungle of sustainability - with score4more Pro

Use score4more Pro by creating a profile under score4more and then using the Pro function in the profile. You can find more information about score4more Pro here.

Co-funded by the European Union
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