Navigating the EU Corporate Sustainability Reporting Directive
The European Union (EU) has recently taken a significant step towards creating a more sustainable and responsible business environment by introducing the new Corporate Sustainability Reporting Directive (CSRD). The directive replaces the existing Non-Financial Reporting Directive (NFRD) and will require large companies to report on their sustainability and social responsibility efforts in a more detailed and standardized way. The CSRD will cover a wide range of sustainability topics, including environmental impact, social responsibility, and governance, and apply to all types of companies in the next four years. This will enable stakeholders to compare the sustainability efforts of different companies and track progress over time, thereby creating a more competitive business environment. The CSRD is expected to provide investors and consumers with more accurate and reliable information, encourage companies to improve their sustainability efforts, and create a more sustainable and responsible business environment that benefits society as a whole. To prepare for the new directive, companies can contact companies like Datalitiks, an award-winning data-driven start-up company that leverages technology and data to help organisations understand their ESG priorities and track their sustainability efforts.
The Power of Data: How to Use Reports to Boost Your Business
While you may think of data reports as boring, tedious, and purely business-related, the fact of the matter is that these reports are important to your business growth and development. Your data shows you how your business has grown (or not grown) over time, and it’s important to keep an eye on your data because it highlights the areas in which your business might need improvement. For example, if you notice that your net revenue has decreased month after month, then you know that something needs to change in order to turn things around and get back on track.
TECH 101 Buzz Words: E-health
E-health refers to health services and information delivered through the Internet and related technologies.
An electronic health record (EHR) is a prime example of e-health. It is a digital version of a patient’s health chart. EHRs are real-time, patient-centered records that make information available instantly and securely to users.
TECH 101 Buzz Words: 5G
5G is a new global wireless standard after 3G, and 4G networks. It enables a new kind of network that is designed to connect together virtually everyone and everything, including machines, objects, and devices.
TECH 101 Buzz Words: Multi-cloud
Multi-cloud is an approach that uses two or more cloud computing platforms to execute diverse tasks.
A multi-cloud environment could be all-public, all-private, or a combination of both.
TECH 101 Buzz Words: DevOps
DevOps removes the barriers between teams and operations so that they can work together across a software application. It increases an organization’s ability to deliver application and services faster than traditional software development processes.
TECH 101 Buzz Words: Digital Transformation
Digital transformation uses technology to reimagine business processes and customer experiences to meet the requirement of changing markets.
TECH 101 Buzz Words: Voice-as-User Interface (VUI)
Voice-as-User Interface is a speech recognition technology that allows people to interact with a computer, smartphone or other device through voice commands. Apple’s Siri, Amazon’s Alexa, Google’s Assistant and Microsoft’s Cortana are prime examples of VUIs.
This technology uses voice as the primary mode of communication allowing users to initiate automated services and execute everyday tasks faster and better.
TECH 101 Buzz Words: Edge Computing
Edge computing is the practice of capturing, storing, processing and analysing data near the service consumers or data sources, instead of in a centralized data-processing warehouse. Hence, the data is stored at intermediate points at the ‘edge’ of the network, rather than at the central server or data centre.
Edge computing is not part of a cloud system. Instead, edge complements cloud computing but does not replace it.
TECH 101 Buzz Words: Cryptocurrency
Cryptocurrencies are increasingly popular digital currencies and an alternative for online payments. To use cryptocurrencies, one needs to have a crypto wallet. This wallet can be software that is a cloud-based service or stored on a computer or mobile device. A wallet is also a tool through which encryption keys are stored to confirm your identity.
TECH 101 Buzz Words: Firewall
A firewall is a network security device that monitors incoming and outgoing network traffic and decides whether to allow or block specific traffic, based on a defined set of security rules.
A firewall acts as a barrier between an internal trusted network and outside connections, such as the Internet.
TECH 101 Buzz Words: Everything as a Service (XaaS)
XaaS recognizes the vast number of products, tools and technologies that vendors now deliver to users as a service over a network — typically the internet — rather than provide locally or on-site within an enterprise.
Prime examples of Xaas are Communication as a Service (CaaS) and Healthcare as a Service (HaaS). CaaS allows a business to access a variety of communication tools and applications as needed. HaaS allows for easier sharing of crucial information, online consultations, prescription deliveries, and other important services.
TECH 101 Buzz Words: Software as a Service (SaaS)
SaaS is a method of software delivery that allows data to be accessed from any device with an internet connection and a web browser. In this web-based model, software vendors host and maintain the servers, databases, and the code that makes up an application.
TECH 101 Buzz Words: Augmented Reality (AR)
Augmented reality (AR) enhances the real-world setting by morphing the physical environment into a visual one and projecting graphics such as characters and pictures through the user’s phone camera. Through AR, users can control their presence in the real world through a smartphone or another device that supports AR
TECH 101 Buzz Words: Blockchain
A blockchain is a digital transaction record. The term derives from the structure of the database, in which individual records, known as blocks, are connected in a single list known as a chain. Blockchains are used to record transactions involving cryptocurrencies such as Bitcoin and have a wide range of additional-applications.