Case study: How INTRASOFT International creates economic value for its stakeholders
INTRASOFT International is a leading European IT solutions and services Group with a strong international presence and expertise that offers innovative and added-value solutions of the highest quality to a wide range of international and national public and private organisations. INTRASOFT International creates economic value for all its stakeholders through its business activities Tweet This!, contributing to the economy, employment and local communities.
This case study is based on the 2020 Annual & Sustainability Report by INTRASOFT International, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Abstract
In all countries of operation, INTRASOFT International offers jobs and provides income, generates tax revenue, and builds relationships with customers, suppliers and business partners throughout its value chain, generating and distributing economic value and creating a positive economic footprint. In order to create economic value for its stakeholders INTRASOFT International took action to:
- create economic value for employees
- create economic value for suppliers
- create economic value for providers of capital
- create economic value for governments
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With this case study you will see:
- Which are the most important impacts (material issues) INTRASOFT International has identified;
- How INTRASOFT International proceeded with stakeholder engagement, and
- What actions were taken by INTRASOFT International to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2020 Annual & Sustainability Report INTRASOFT International identified a range of material issues, such as attracting & retaining skilled employees, safeguarding business continuity, data privacy & security, providing employee training & development. Among these, creating economic value for its stakeholders stands out as a key material issue for INTRASOFT International.
Stakeholder engagement in accordance with the GRI Standards
The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:
Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.
Key stakeholder groups INTRASOFT International engages with:
To identify and prioritise material topics INTRASOFT International engaged with its stakeholders through the following channels:
| Stakeholder Group | Method of engagement |
| Shareholders
| · Annual results · Annual report · Press releases |
| Clients
| · Complaints procedures · Consultation meetings on possible synergies and cooperation · Responses to RFIs/RFPs · Market trends and insights research · Newsletters |
| Employees
| · Performance and development reviews · Employee surveys · Project reviews · Internal publications · Various corporate events for employees · Intranet |
| Suppliers | · Project-related calls and meetings · Visits · Newsletters · RFIs/RFPs · Brochures |
| Peers (competitors & partners)
| · Meetings · Conference calls · Visits · Partner events |
| Technological community (vendors & open source community) | · Newsletters · RFIs/RFPs · Brochures · Conferences and seminars |
| Society
| · Calls and meetings · Conferences · Press releases · Sponsored events · Consultation with local representatives |
| State and institutional bodies
| · Calls / meetings · Periodic reviews · Financial results |
| Media
| · Press conferences · Press releases · Newsletters · Sponsored events |
What actions were taken by INTRASOFT International to create economic value for its stakeholders?
In its 2020 Annual & Sustainability Report INTRASOFT International reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- INTRASOFT International wants to be an employer of choice, focusing on inclusion, collaboration, health and well-being. In 2020, INTRASOFT International paid €97.7 million for employee wages and benefits.
- Creating economic value for suppliers
- In 2020, INTRASOFT International paid €44.7 million in purchases from suppliers.
- Creating economic value for providers of capital
- In 2020, INTRASOFT International paid €5.3 million to providers of capital.
- Creating economic value for governments
- In 2020, INTRASOFT International paid €1.1 million to the government in Greece, €602 thousand to the government in Luxembourg and €671 thousand to the government in Belgium, among others.
Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?
The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed
Disclosure 201-1 Direct economic value generated and distributed corresponds to:
- Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth
- Targets: 8.1, 8.2
- Sustainable Development Goal (SDG) 9: Industry, Innovation and Infrastructure
- Targets: 9.1, 9.4, 9.5
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References:
This case study is based on published information by INTRASOFT International, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:
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