Within the context of Corporate Social Responsibility (CSR), many companies have implemented initiatives programs such as philanthropy actions and community involvement programs.
Through these programs, companies invest corporate assets - which can be money, employee time or in-kind donations – in global as well as local community initiatives.
Recent studies* have shown that companies today lack a global overview of their initiatives and their donations to the communities in which they operate. They often rely on informal exchanges at the local level rather than a systematic structured reporting process.
To reap the benefits of their initiatives programs, companies need better visibility into their community efforts which will lead to efficient control of how corporate assets are invested at both the local and global levels.
* Ernst & Young – “Implementing a CSR approach” Report– February 2008