Efficient CSRD implementation: how to save time and money

Summary for cost-effective and efficient CSRD implementation:

materiality assessment (DMA): Central element of CSRD reporting for identifying relevant topics and stakeholder involvement.
- Excel Template: From €499 you receive a structured template for carrying out the DMA with a time saving of over 60 hours
- Materiality MasterAI-supported DMA software for €1,999 enables efficient audit-compliant analysis and reduces effort by more than 100 hours
Data point mapping tool Automated determination of reportable data points from 997€ reduces manual work by over 30 hours.
CSRD-compliant reporting
- ESRS VSME The Word template for the ESRS VSME costs only 499€ and saves over 80 hours of working time
- DNK software The free tool for data collection and reporting reduces the effort by more than 50 hours.

The Corporate Sustainability Reporting Directive (CSRD) presents companies with new challenges and opportunities in the area of sustainability reporting. At a time when regulatory uncertainties – such as the delays in the implementation of the CSRD in Germany and the forthcoming changes due to the omnibus approach – are affecting planning certainty, it is all the more important for companies to find efficient and cost-effective solutions.

In this blog article, we show you how you can implement CSRD efficiently and cost-effectively with the right tools and methods. Find out how an audit-ready materiality assessment and the use of free CSRD software solutions pave the way to successful CSRD compliance.

materiality assessment for efficient CSRD implementation

The double materiality assessment (DMA) is a central component of CSRD implementation and helps companies to identify the relevant topics and ESRS data points that need to be included in their sustainability reports. A carefully conducted materiality assessment ensures that companies use their resources efficiently and focus on the really important aspects.

Advantages of the materiality assessment

Focusing on what is relevant: DMA reduces the complexity of sustainability reporting. By identifying the material topics, companies can focus their reporting on those areas that are important for both internal and external stakeholders. Ultimately, topics classified as “not material” do not have to be reported on.
Resource efficiency: By focusing their efforts on the key issues, companies avoid unnecessary effort and save time and money.
Transparency and credibility: A well-founded materiality assessment increases the transparency and credibility of sustainability reporting.
Strategic consideration: materiality assessment can also be used as a strategic tool. By systematically recording and evaluating significant impacts, risks and opportunities (IROs), companies can develop long-term strategies that take into account economic as well as environmental and social objectives.

Efficient implementation with the materiality assessment Excel template

To facilitate materiality assessment, CSR-Tools offers a user-friendly materiality assessment Excel template. This tool guides companies step by step in identifying their stakeholders and systematically recording and evaluating material topics. The template is ESRS-compliant and is based on the EFRAG guidelines for conducting the DMA.

To determine the data to be reported, the data point mapping tool can be used, which can be perfectly combined with the DMA Excel template.

AI-supported implementation with the Materiality Master

The web-based software solution Materiality Master can also be used as an efficient alternative to the Excel template. In addition, the identification of the data points to be reported is already part of the solution. The specialized DMA software offers the following advantages:

User-friendliness: The software solution is even easier to use and you cannot ‘accidentally’ overwrite a formula, for example.
Artificial intelligence: The seamless integration of AI leads to considerable time savings when carrying out DMA.
Audit: Changes can be tracked by the auditor in an audit-compliant manner.
Updates: No data needs to be copied from one document to another for updates; the updates run automatically in the background.
Access rights: You can better control who should have access to which IROs or (sub-sub-)topics and who is allowed to edit them.
Languages: Every user can choose between German, English, Hungarian and French. Further languages will follow.
Data points: A tool for automated determination of ESRS data points is included.

Efficient CSRD implementation: reporting

Once the materiality assessment has been successfully completed and the data points have been identified, the next step is to carry out a gap analysis, collect the data efficiently and compile it into a report. Efficient CSRD reporting helps companies meet regulatory requirements without wasting unnecessary resources. Here are some tools and methods that can help you:

ESRS VSME Template

The Word template for a CSRD report according to ESRS VSME has been specially developed for small and medium-sized enterprises (SMEs) that want to voluntarily prepare a CSRD report on a smaller scale. This template provides a structured template so that companies only need to insert their sustainability data into the tables and text fields provided. The template is in line with the VSME standard of the European Sustainability Reporting Standards (ESRS) and there is an additional guidance document so that companies and CSRD consultants can easily use it without prior knowledge.

DNK software for efficient CSRD implementation

The free software of the German Sustainability Code (DNK) is another valuable tool for efficient CSRD implementation. It supports companies in collecting, managing and reporting their sustainability data. It provides a solid foundation for meeting CSRD requirements and offers companies assistance in collecting data points. The CSRD software is in beta version at the time of writing this blog article.

By using the ESRS VSME template and the DNK software, companies can efficiently organize their CSRD reporting and ensure that they meet all regulatory requirements. These tools provide a structured and user-friendly solution that saves both time and money.

Practical tips for efficient CSRD implementation

The theoretical preparation is followed by the practical implementation of the CSRD. Here are the main steps:

Project planning and resource allocation
- Form a team: Putting together an interdisciplinary team.
- Create a schedule: Set milestones and deadlines.
- Assign resources: Identify and allocate required resources.
Data collection and management
- Identify data sources: Identify relevant data sources.
- Collect data: Collect data with ESRS VSME template and DNK software.
- Validate data: Check data for accuracy and completeness.
Reporting and review
- Create report: Create CSRD report with collected data.
- Review the report: Review internally and externally.
- Obtain feedback: Obtain and adapt stakeholder feedback.
Communication and publication
- Develop a communication strategy: Define publication strategy.
- Publish the report: Publish on the website and other channels.
- Ensure transparency: Open communication of results.
Continuous improvement
- Monitoring and evaluation: Monitoring and evaluating progress.
- Make adjustments: Adjust strategies regularly.
- Share best practices: Exchange experiences and best practices.

This structured implementation makes CSRD reporting efficient and cost-effective.

Conclusion for efficient CSRD implementation

Efficient CSRD implementation is crucial for companies in today’s world, especially against the backdrop of regulatory uncertainty. By using the right tools and methods, companies can make their sustainability reporting efficient and cost-effective.

A key aspect is the cost and time savings that can be achieved with these tools. Overall, the CSRD can be implemented with the tools presented (materiality assessment Excel template + data point mapper + DNK software) for as little as EUR 1,499 and a time saving of at least 140 hours.

By using the Materiality Master in combination with the DNK solution, over 180 hours of reporting can be saved for just EUR 1,999.

By using these tools and taking a structured approach, you can ensure that your CSRD implementation is not only efficient and cost-effective, but also meets regulatory requirements. You also make a valuable contribution to sustainable development.