Consulting
Forvis Mazars Strengthened ESG Reporting Through Partnership With SmartHead
Forvis Mazars, an internationally recognized auditing and consulting firm, has been actively driving sustainability and ESG initiatives for several years. Understanding the increasing importance of transparent and effective ESG reporting, Forvis Mazars sought a technology partner to enhance their consulting capabilities and efficiently support their clients in navigating complex ESG requirements.
Challenge
Previously, Forvis Mazars relied on internal Excel-based systems to manage ESG data and reports, a process that became cumbersome as regulatory requirements evolved. The European Sustainability Reporting Standards (ESRS) presented significant challenges, demanding greater precision, complexity, and the collection and consolidation of a greater amount of data than traditional spreadsheets could offer.
A particular case highlighted the urgency: an investment holding company with multiple subsidiaries required rapid implementation of an ESG reporting solution to meet upcoming regulatory deadlines. This client's complex structure included entities across diverse sectors - ranging from paper and food industries to ski resorts.
Solution
Forvis Mazars chose to collaborate with SmartHead after recognizing its unique strengths and the value it could bring to their ESG consulting services:
Local Presence and Flexibility
SmartHead’s local presence, localized in many CEE countries' languages, including Slovak, and swift responsiveness enabled fast and seamless implementation, particularly critical for urgent client needs.
User-Friendly Interface
The platform's intuitive nature made it easy for clients to quickly adopt and utilize it effectively.
Efficient ESG Data Management
SmartHead significantly streamlined the reporting process, offering real-time data management and collaborative capabilities. The inclusion of databases with IROs (Impacts, Risks, and Opportunities), along with guidance throughout the required double materiality assessment, greatly helped to make this evaluation easier and more efficient.
Integrated CO2 Calculator
This feature is particularly useful for calculating a company's required metrics of greenhouse gas emissions. It allows embedding these data directly in the client’s ESG report.
Visibility & Marketing Potential
SmartHead’s platform enables clients to report data internally and publicly showcase their sustainability initiatives, offering additional reputational and marketing advantages.
Within just days, Forvis Mazars and SmartHead can deliver a customized ESG reporting solution, allowing clients to start their ESG reporting quickly. This partnership allows clients to promptly initiate their ESG reporting process, fulfilling compliance obligations with more ease and guidance.
Iveta Lacová
Senior Consultant, Sustainability
Forvis Mazars
Forvis Mazars chose SmartHead for their responsiveness, intuitive solution, and local knowledge. This enabled us to swiftly meet our client’s demanding timeline and complex needs. SmartHead isn’t just a software - it’s a strategic tool in our ESG consulting practice.
Results
Through the SmartHead partnership, Mazars realized substantial improvements:
Significant Time Savings
Transitioning from manual spreadsheets to SmartHead's digital platform drastically reduced administrative overhead.
Improved Client Satisfaction
Clients reported enhanced ease-of-use and appreciated the robust functionality, particularly around multilingual support and immediate access to critical ESG data.
Scalability and Replicability
SmartHead’s flexible framework allowed Mazars to efficiently replicate and adapt ESG reporting solutions across different clients and industries, substantially increasing operational efficiency.
Future Vision
Mazars anticipates deepening the partnership further, leveraging SmartHead’s evolving capabilities, including advanced integrations with various global ESG frameworks (e.g., GRI standards). This collaboration is envisioned as increasingly strategic, enabling Mazars to continuously enhance their ESG advisory services, driving sustainability not just as a compliance requirement but as a genuine competitive advantage.
Other references
Deloitte
A Smarter Way to ESG: Deloitte Teams Up with SmartHead
Slovenská sporiteľňa
Building a Greener Future Together. How ERSTE Group Backed SmartHead.