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:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

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

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

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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:

https://www.netcompany-intrasoft.com/sites/default/files/home/intrasoft/IISA%20Annual%20&%20Sustainability%20Report_digital%20spreads_web.pdf

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