In our previous blog article, we discussed the impacts of amended EU directives on companies operating in waste management and energy sectors. The legislative amendments bring new developments to actors in the field of circular economy and bioenergy and establish more ambitious targets for materials recycling and use of renewable energy.
This means that companies are required to record and report more specifically how waste is processed and prepared for re-use or recycling and the origin of energy produced. In many companies, the changes require enhancement of monitoring and reporting procedures, in order to prevent tremendous increase in the volume of manual work and allow meeting of the requirements.
In case of deficient accounting, a company cannot have accurate information on its stock balances, tons, and euros, for example.
Repeated financial and regulatory reporting month in, month out can be troublesome if reports have to be generated and corrected manually – in other words, if the system does not generate the required data automatically. The reason for this may be, for example, that the system does not produce source data of sufficient quality or does not provide the possibility for flexible data supplementation in different stages of the supply chain.
Traditional recording and reporting methods, such as Excel spreadsheets, squared notebooks and autonomous systems, are still being used in the domains of circular economy and bioenergy. However, as the legislation becomes more stringent, they become major obstacles in the way of meeting the growing reporting demands.
In case of deficient accounting, a company cannot have accurate information on its stock balances, tons, and euros, for example. There is no certainty about the origin of the materials and their supply chain is not traceable afterwards.
In the future, these data will be required for official reports, such as for demonstrating of the sustainability of the origin of renewable energy and of the emission reductions achieved. In a circular economy, the responsibility for reporting falls the hardest on the receiver of materials, but those responsible for collection and transporting therefore must also do their part to ensure traceability.
The changing reporting requirements enable and encourage the introduction of new and more efficient operation modes. Coerced enforcement of old operating models is no longer reasonable – instead, it is beneficial to boldly explore and adopt new and better ways for meeting the reporting requirements while developing the entire operation of the company to meet future challenges.
The most important prerequisite to success is a system suitable for data management. If a proper solution is in use, it is sufficient to input the data required only once. A modern system allows efficient control of the entire order and supply chain, saving you money, time, and effort.
Widely used in the energy domain, Once is a forerunner in data management; it is everything you need to ensure effortless compliance with reporting requirements related to materials management and traceability in case of companies operating in a circular economy. Check out the system!
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Once – no need to enter data more than once