How effectively does a company track the origin, flow, and storage of each department's data? How accessible and feasible is its retrieval when needed?
Data accessibility is more than just being organized—it’s a requirement for modern business operations, ensuring compliance with strict regulatory and legislative standards.
Why is data traceability so vital, particularly for ESG data?
What is Data Traceability?
Data traceability, simply put, is a company's ability to track its data at any time—tracing its origin, movement, modifications, and final destination.
This involves tracking who has access to the data, when it was accessed, and any modifications made throughout its lifecycle.
Traceability ensures that every piece of data has a transparent, auditable trail, allowing it to be tracked from its creation to its current state.
This process is akin to tracking a product’s supply chain—just as consumers want to know the source of their food, businesses must understand the origins, handling, and storage of their data, ensuring it remains secure and easily accessible.
Why Does Data Traceability Matter?
Traceability is essential for several reasons: it strengthens security, enhances accountability, and ensures regulatory compliance.
Companies can identify unauthorized access or modifications, helping to prevent fraud or data breaches.
Additionally, traceability promotes greater operational transparency, which is both a matter of trust and a practical necessity, enabling companies to make more informed decisions based on reliable data.
Why is ESG Data Traceability Essential?
In today’s landscape, where ESG criteria and the European and national sustainability agendas are top priorities, ESG data traceability is an essential, non-negotiable requirement.
Moreover, under European law, all recorded information must be accessible and verifiable. This means that companies relying on informal data handling methods, like email, are vulnerable during audits.
If a company is unable to verify the accuracy and origin of its ESG data, it could face legal repercussions.
How Will You Secure it?
Ensuring ESG data traceability requires establishing a robust data management system that tracks every interaction.
The system should incorporate tools that automatically monitor data access and changes, generating a transparent and tamper-proof record.
By implementing this system, companies not only meet stringent ESG requirements but also enhance overall data governance, leading to improved risk management and more informed decision-making.
How Can Tekmon Help?
Tekmon provides a comprehensive data management solution that guarantees visibility and traceability of ESG data.
With Tekmon, accessing critical information is as easy as a click of a button. All recorded data is securely stored, with access tightly controlled through enterprise-level permissions. Authorized users can effortlessly retrieve information from data logs and review historical data.
Tekmon's system not only streamlines ESG compliance but also helps businesses uphold high standards of transparency and accountability.
