Climate Change Data

Environmental Metrics

Social Achievements

• Cleared almost all employee dues backlog.

Climate Goals & Targets

Environmental Challenges

• Slowdown in markets due to the Covid-19 pandemic, particularly affecting the regulatory segment.
• Attrition and dearth of right talent.
• Extension of the filing deadline in South Africa and loss of a few clients in the UK.

Mitigation Strategies

• Focused on working capital management, continued engagement with existing customers, and strengthening its product suite.
• Continued to provide a passion-driven workplace environment and cleared the dues backlog.
• Developed a disclosure management tool (product version 1.0).

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: XBRL, SASB

Certifications: XBRL International certification for IRIS CARBON®

Awards & Recognition

• Best Regtech award at the Best Bank Awards instituted by the Financial Express newspaper
• Silver trophy by TIOL Knowledge Foundation under Tax Technology Service Providers
• IRP status granted by GSTN

Environmental Metrics

ESG Focus Areas

• Climate change
• Governance

Climate Goals & Targets

Environmental Challenges

• Shrinking revenues from 'Collect' segment due to lack of new implementation projects in FY22 and slowdowns in RFPs due to Covid.
• Increased costs due to higher demand for expert technology resources and salaries.

Mitigation Strategies

• Targeting Europe and USA for Disclosure management platform to increase revenue.
• Expecting revenue increase from implementation projects in SARB and Bhutan in FY24.
• Expecting ESG reporting mandates in XBRL to drive demand.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Launched Fleximoms initiative to encourage mothers and caregivers to restart their careers.
• Employee retention rate of 81%.

Governance Achievements

• Established a robust risk management system.
• Implemented Microsoft’s Active Directory for centralized data access control.
• Digitalized compliance processes.

Climate Goals & Targets

Environmental Challenges

• Pandemic-induced slowdown in regulatory spending.
• Intense competition in both regulator and enterprise segments.
• Risks related to execution time creep and changing requirements in the Collect segment.
• Limited presence in US and European markets for regulatory platform solutions.
• Deep-pocketed competitors in the Create segment investing heavily in sales, marketing, and product features.
• Consolidation among players in the European market affecting competitive dynamics.

Mitigation Strategies

• Diversified revenue base across multiple customers, business lines, and geographies.
• Introduced IRIS Carbon Disclosure Management Platform to boost productivity in the CFO’s office.
• Planning entry into the ESG reporting space.
• Expanding sales footprint, especially in the enterprise market.
• Frugal engineering practices and innovative solutions.
• Strengthening product stack and capturing increased value.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• 2022 SaaS Awards: ‘The Most Agile/Responsive SaaS Solution of the Year’
• 2023 APPEALIE SaaS Software Awards: ERP + Finance for the small business mid-market segment
• TIOL Jury award for Best Tax Technology Solution Provider - 2022

Environmental Metrics

ESG Focus Areas

• Sustainability reporting

Governance Achievements

• Established a robust governance framework with clear roles, responsibilities, and decision-making processes.
• Maintained updation with the latest legal and regulatory requirements.

Climate Goals & Targets

Environmental Challenges

• Intense competition in both regulator and enterprise customer segments.
• Potential for substantial time creep or change in requirements impacting profitability in the Collect segment.
• Regulators preferring large, omnibus RFPs requiring collaboration with partners.
• Deep-pocketed competitors investing heavily in sales, marketing, and product features in the Create segment.
• Market consolidation potentially affecting competitive dynamics.
• Potential impact of artificial intelligence on product offerings.

Mitigation Strategies

• Offering integrated solutions to stand out in the market.
• Enhancing product suite with additional analytical components.
• Utilizing frugal engineering practices and innovative solutions.
• Incorporating additional AI-driven features in solutions.
• Developing a risk management policy to identify, minimize, and mitigate risks.

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• Best Regulatory Technology Services – Central Banking (2024)
• India’s Best Fintech Company – FE (2022)
• India’s Best TaxTech Company-TIOL (J) (2022)
• India’s Best MSME Tech Company – Jagran (2022)
• India’s Best TaxTech Company - TIOL (2021)