Frankfurt am Main/Munich/Kassel, 01 September 2022. Reporting specialists Envoria and firesys have entered into a cooperation to help companies meet exponentially growing reporting and disclosure requirements. While Envoria offers a solution that holistically covers the Environment, Social and Governance (ESG) segments, firesys provides a solution for the automated preparation of annual financial statements. The alliance between Envoria and firesys ensures that companies only need to enter their data once and can exchange it seamlessly between the two systems. These subsequently appear both in the annual financial statements and in ESG reporting.
The EU’s Corporate Sustainability Reporting Directive (CSRD) means a significant increase in reporting obligations for companies. The recently published proposal on future ESG reporting alone includes more than 300 key figures that must be determined and disclosed from 2023. “Around 15,000 companies in Germany and over 50,000 across Europe will be affected by this requirement,” said Sven Schubert, CEO and co-founder of Envoria. “The key figures in question are based in part on information that companies already publish within their traditional annual report. Together with firesys, we ensure that customers do not have to perform unnecessary, duplicate data collection.”
Financial and non-financial reporting from a single source
To enable companies to meet future reporting requirements in an automated way, Envoria and firesys ensure a smooth flow of data from ESG data collection to report publication. Once the data is stored in the Envoria system, it is transferred to firesys for automated report generation. “With our cooperation, we offer companies synergy effects that make it possible to fulfill the growing disclosure obligations in a legally compliant manner with minimal effort,” explains Diana Kaufhold, Managing Director of firesys GmbH. “Our customers benefit from the respective know-how around annual report preparation or ESG reporting, which we have combined in a collaborative overall solution.”
The initiator of the cooperation between Envoria and firesys is the fino Group, which recently became a shareholder in Envoria. Michael Sindram, Managing Director of fino ventures, points out, “This cooperation is a good example of our entrepreneurial contribution. We bring together unique companies from our broad network to provide customers with unique, innovative solutions.”
About Envoria (Financial Software Architects GmbH):
Financial Software Architects GmbH launched in Munich in 2018 and supports companies in meeting disclosure requirements around new sustainability standards under the EU Green Deal. Envoria offers an all-in-one software that maps standard frameworks (GRI, ESRS, SASB, DNK, EMAS), enables CO2 emissions calculations (Scope 1, 2 and 3) and implements regulatory requirements of EU taxonomy calculations.
DAX-listed companies as well as well-known corporations in the European Union have opted for Envoria. Envoria has established close partnerships with audit firms and consultancies to ensure that regulatory changes and new audit requirements lead to immediate implementation in the software.
Further information: envoria.com
For more than 30 years, firesys has been a leading software provider in the field of financial and sustainability reporting – from data connection to publication in various formats (HTML, ESEF/XBRL, print-ready PDF). The company’s success is characterized by consistent further development, highly motivated employees and reliable customer orientation. Several hundred companies – including thyssenkrupp, Commerzbank, Continental, Volkswagen – rely on the automated and user-friendly end-to-end solutions from firesys for their annual report production. The openness for constant further development is also underlined by strong cooperations, regular certification procedures and target-oriented memberships. Further information: www.firesys.de
About fino ventures GmbH:
fintech company fino was founded in Kassel in 2015 and is a provider of innovative B2B SaaS business models. fino develops solutions that inspire people and sets standards through digital and data-based business models in the areas of bank account mining (FinTech), invoice management, document analysis (DocTech), KYC/money laundering (RegTech) and property tax (TaxTech). Through fino ventures, fino is continuously expanding its data ecosystem through strategic investments and provides entrepreneurial support to young startups as a mentor, business angel or impulse provider on all topics related to founding, business model and scaling.
Further information at: www.fino.group und www.fino.ventures
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