Avalara and University of Oxford Collaborate on Enhanced Sustainability Reporting
In a significant move towards enhancing sustainability efforts in the business world, Avalara, a frontrunner in tax compliance automation, has joined forces with Kellogg College at the University of Oxford. This partnership aims to investigate ways businesses can better utilize their transaction data to improve the accuracy and trustworthiness of carbon emissions reporting and other sustainability metrics. As companies face increasing scrutiny regarding their environmental impact, reliable reporting mechanisms have become paramount.
Sustainability reporting presents a challenge today due to the lack of effective methods to validate the claims made by global organizations. Avalara’s initiative is to address this gap by funding the Commission on Sustainability Data at Oxford University. This research will enable companies to access trustworthy operational performance data, which is crucial for emissions reporting and various other business requirements, especially in leveraging artificial intelligence. The quality of data used is vital, as AI outputs depend heavily on the accuracy of that data.
By supporting this research, Avalara is carving pathways to transform raw transaction data into verified business intelligence. This transformation can empower financial institutions to make more informed lending decisions, give regulators confidence in compliance, and allow trading partners to view performance proofs in real-time.
Ross Tennenbaum, President of Avalara, remarked, "By collaborating with Kellogg College at the University of Oxford, we are putting provable truth into the hands of global corporations. This allows companies to create their own datasets while ensuring their integrity, accuracy, and completeness from source systems." He expressed enthusiasm about scaling this approach to businesses worldwide and reinforcing a network of trusted transactions.
The ongoing project strives to help businesses establish a database that provides deeper control and understanding of their operations. Moreover, it aims to enhance a company's capability to substantiate the truthfulness of its data to external parties, potentially reducing capital costs, allowing for supply chain insurance, and optimizing engagement with various partners across the industry.
Professor Jonathan Michie, President of Kellogg College Oxford and Chair of the Commission on Sustainability Data, stressed the growing need for auditable, machine-readable sustainability data in response to evolving regulatory frameworks focusing on climate accountability. He stated, "Through this commission, generously supported by Avalara, we are examining how enterprise systems—particularly those rooted in transactional accuracy—can anchor a new paradigm of verifiable data. This collaboration reflects a shared commitment to advancing trust infrastructure at a global scale."
Avalara’s proficiency in tax compliance, complemented by partnerships with entities like SAP, holds promise for transforming transactional data into accurate, trustworthy sustainability insights. David Imbert, Head of Finance Product Marketing at SAP, noted, "Avalara’s expertise in tax compliance—amplified by partners like SAP—is unlocking a new era of sustainability intelligence." He highlighted existing technology solutions like SAP Green Ledger, which integrates carbon and financial data to bolster transparency.
By blending trusted financial insights with detailed carbon data, businesses can ensure that carbon metrics are not only transparent but integral to strategic planning, financial allocation, and long-term value creation. As businesses continue to navigate a landscape increasingly focused on sustainability, partnerships like the one between Avalara and the University of Oxford may pave the way for a more responsible and transparent business environment.
In conclusion, Avalara’s collaboration with Kellogg College signifies a vital step forward in addressing the challenges of sustainability reporting. By providing a framework for accurate data access and validation, the partnership stands to benefit organizations aiming to meet evolving regulatory demands while promoting environmental accountability and transparency.
For more insights about the Commission on Sustainability, interested parties can visit Avalara’s website.
Sustainability reporting presents a challenge today due to the lack of effective methods to validate the claims made by global organizations. Avalara’s initiative is to address this gap by funding the Commission on Sustainability Data at Oxford University. This research will enable companies to access trustworthy operational performance data, which is crucial for emissions reporting and various other business requirements, especially in leveraging artificial intelligence. The quality of data used is vital, as AI outputs depend heavily on the accuracy of that data.
By supporting this research, Avalara is carving pathways to transform raw transaction data into verified business intelligence. This transformation can empower financial institutions to make more informed lending decisions, give regulators confidence in compliance, and allow trading partners to view performance proofs in real-time.
Ross Tennenbaum, President of Avalara, remarked, "By collaborating with Kellogg College at the University of Oxford, we are putting provable truth into the hands of global corporations. This allows companies to create their own datasets while ensuring their integrity, accuracy, and completeness from source systems." He expressed enthusiasm about scaling this approach to businesses worldwide and reinforcing a network of trusted transactions.
The ongoing project strives to help businesses establish a database that provides deeper control and understanding of their operations. Moreover, it aims to enhance a company's capability to substantiate the truthfulness of its data to external parties, potentially reducing capital costs, allowing for supply chain insurance, and optimizing engagement with various partners across the industry.
Professor Jonathan Michie, President of Kellogg College Oxford and Chair of the Commission on Sustainability Data, stressed the growing need for auditable, machine-readable sustainability data in response to evolving regulatory frameworks focusing on climate accountability. He stated, "Through this commission, generously supported by Avalara, we are examining how enterprise systems—particularly those rooted in transactional accuracy—can anchor a new paradigm of verifiable data. This collaboration reflects a shared commitment to advancing trust infrastructure at a global scale."
Avalara’s proficiency in tax compliance, complemented by partnerships with entities like SAP, holds promise for transforming transactional data into accurate, trustworthy sustainability insights. David Imbert, Head of Finance Product Marketing at SAP, noted, "Avalara’s expertise in tax compliance—amplified by partners like SAP—is unlocking a new era of sustainability intelligence." He highlighted existing technology solutions like SAP Green Ledger, which integrates carbon and financial data to bolster transparency.
By blending trusted financial insights with detailed carbon data, businesses can ensure that carbon metrics are not only transparent but integral to strategic planning, financial allocation, and long-term value creation. As businesses continue to navigate a landscape increasingly focused on sustainability, partnerships like the one between Avalara and the University of Oxford may pave the way for a more responsible and transparent business environment.
In conclusion, Avalara’s collaboration with Kellogg College signifies a vital step forward in addressing the challenges of sustainability reporting. By providing a framework for accurate data access and validation, the partnership stands to benefit organizations aiming to meet evolving regulatory demands while promoting environmental accountability and transparency.
For more insights about the Commission on Sustainability, interested parties can visit Avalara’s website.
Topics General Business）
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