In 1994, British management consultant John Elkington coined the term “Triple Bottom Line.” The principle is simple: to improve their bottom line, companies need to devote equal parts attention to people, profits, and the planet. At its core, the Triple Bottom Line brings in sustainability, renewables and corporate social responsibility initiatives which are more relevant now than ever and are drivers for innovation.
Today, those initiatives aren’t only the catalyst for bottom-line growth—they’re a growing part of a company’s ethos. We live in an age where consumers are cognizant about their buying practices and are making choices, based on what they care about, to support or boycott businesses. As a response, Chief Sustainability Officer is a key c-suite position, and socially-responsible investment (ESG) funds are on the rise. There is no turning back – people care about how businesses interact with the world around them outside of their ability to generate revenue.
The quest for those types of business solutions is the topic of this episode of Better Together: Customer Conversations. We’re talking about how now a business needs to successfully deliver to meet the needs of people, profits, and the planet. It’s a conversation focused not only on how businesses can make the world a better place, but the technologies such as IoT, predictive analytics, and machine learning that enable them to succeed.
Listen to the podcast as Tamara McCleary, CEO at Thulium, sits down with Hanno Schoklitsch, CEO & Founder, Kaiserwetter Energy Asset Management and Sally Eaves an expert in emergent technologies and social impact, to name just a few, to discuss how the data-as-a-service provider is using renewable energy and sustainable initiatives to increase profits and eliminate risk for its investors. The conversation goes even deeper, to discuss exactly how Kaiserwetter collects, analyzes, and uses data, and the tools that make it possible.
Kaiserwetter is one of many companies using the SAP Business Technology Platform to make strategic sustainable and renewable investments. This customer conversation highlights what’s driving business innovation today: technology investments that emphasize the Triple Bottom Line and address the expectations from all sides, from the end-consumer to the boardroom.
Businesses are investing in purpose-driven solutions not only because it’s the right thing to do and they feel the pressure, but also because the right green investments can be more profitable than sticking with the status quo. That’s evident by the success of Pregis and Signify:
Pregis—Packaging at Pregis runs best with SAP
Pregis makes systems that provide packaging solutions for all different industries. They wanted to become more intimate with their customers and provide better customer services. SAP helps them to avoid machine downtime, which leads to higher customer satisfaction.
Signify—Transforming into a data-driven enterprise with SAP Analytics Cloud
Signify, formerly Philips Lighting, is working with cities such as Los Angeles to save money and use lighting as smart sensors. To achieve cost savings, simplification and better insights Signify needed a standardized analytics platform. SAP Analytics Cloud empowers Signify to make fact-based decisions more quickly – ultimately enabling the company to offer their customers better products and services.
As we enter a new decade already marked by a pandemic, it’s safe to say socially and environmentally conscious initiatives will drive other companies to embrace change. Sustainability and renewables are more than just buzzwords—they’re an integral part of any forward-looking business plan. Whether it’s emphasis on the Triple Bottom Line, a better business ethos, or a realignment of core business beliefs, companies are making sustainability a priority.
The ‘Realizing Renewable and Sustainable Solutions’ episode goes live on November 3. We’re going to discuss the driver factors for change as well as dig deeper into the practical logistics of sustainability and renewability.
I’d also like to get your input on what topics you’d like to discuss in the future and feedback on the questions we should be asking. And please contact us if you’d like to be a guest on an episode.
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