(Credit: Pixabay)EcoVadis, provider of globally trusted business sustainability ratings, has announced the acquisition of Ecotrek, a sustainability data mining company. The company’s automated sustainability data collection, scanning, and analysis capabilities will work for EcoVadis’ portfolio of solutions by supporting technical capabilities, improving customer experience, and expanding visibility with robust information about trading partners, EcoVadis says.
With over five million company profiles already in its database, Ecotrek’s sustainability data mining (SDM) capabilities make it possible to automate the gathering and integration of sustainability data into business processes. This gives EcoVadis access to company-specific insights to understand environmental, social and ethical risk and opportunity, providing faster and more robust risk visibility for organizations across the entire supply chain.
Ecotrek’s SDM expands upon EcoVadis’ technical capabilities with automated data collection, scanning, analysis, and classification of a company’s sustainability information. This enables EcoVadis to provide faster predictive intelligence to optimize sustainability risk management strategies. It also enables EcoVadis to enhance the quality and experience in its ratings while boosting process efficiency. The combined product suite will provide an end-to-end offering from risk classification and monitoring to supplier sustainability performance improvement.
In light of rising regulations, such as the German Supply Chain Act and the imminent European Directive on supply chain due diligence, the combined offerings give customers a giant head start over their peers on monitoring and improving their supply chain to be not only compliant with this law, but to “thrive in the new responsible business environment,” the companies say.
Ecotrek’s four co-founders brought together their backgrounds in software, engineering, and applied science to create the company in 2020. They and their entire team will join the EcoVadis business and merge with the EcoVadis team in Germany.
