Onventis, the Source-to-Pay procurement suite provider, and EcoVadis, the leading provider of sustainability ratings for businesses and global supply chains, have entered into a solution partnership in sustainable procurement. Onventis now supports sustainability monitoring through direct connection to the EcoVadis platform.

Previously, factors like quality, price and availability of products as well as services were the basis for procurement decisions. These are increasingly being expanded to include environmental, social and corporate governance criteria for companies and their products.

Applying sustainability criteria in procurement makes it possible to anchor and evaluate social justice, climate protection and economic efficiency in procurement processes whilst minimizing supply chain risks. In this context, Onventis is expanding its portfolio with ESG ratings from EcoVadis.

By connecting with the EcoVadis API Connector, additional insights on the sustainability of suppliers can be gained. Via the interface, joint customers access sustainability ratings of their trading partners in the EcoVadis global network. This way, Onventis customers monitor all environmental, social and corporate requirements within their supplier base.

From the integrated solution, customers can view ratings and scorecards from within Onventis. A direct link into the EcoVadis platform provides access to the full supplier scorecards with deeper insights into strengths and recommended improvement areas as well as action plan management. Procurement teams are provided with detailed insights into potential environmental, social and ethical risks within the supply chain via integrated sustainability scorecards. In Onventis Supplier Management, suppliers who are under consideration for an ESG rating are selected and invited to an evaluation via the API Connector.

The digitalization of procurement is the foundation for sustainable supply chains. Medium-sized businesses that are not implementing digital systems and sustainability in their procurement and finance departments will lose critical competitive advantage. The Onventis solutions sustainably digitalize procurement and financial processes. In addition to the connection to EcoVadis, extensive supplier management functionalities are available for achieving sustainability goals, such as individual supplier qualification. A central contract management platform creates the foundation for a sustainable supply chain.

With the Onventis open supplier network, sustainable suppliers can be found in an instant. Supplier questionnaires ensure confidence in dealing with regulations and specifications. Central enquiries and master data transfers secure reliable and responsible qualifications. In addition, ISO standards and Code of Conducts can be screened with just one click. Environmental and social data can be included in approval processes right from the start.