Taking the latest updates to the Indian CSR laws into account, Goodera today announced new offerings for its CSR solutions that will help companies seamlessly adapt to the changes in the CSR policy without hassle.
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CSR Amendment 2021: Goodera Aims to Make it Easier for Companies
The company has launched the Goodera Compliance Module, Goodera Impact Assessment Module, and Goodera Partner Support Module. These offerings combine technology with rich domain expertise and a plethora of services that will help companies align and upgrade their CSR policy, programs, and processes to be compliant with the new amendments.
The new amendments to Section 135 of the Companies Act 2013 have been approved as of January 22, 2021. The amendments have added stringent responsibilities on corporates to ensure that they plan, implement, and assess their CSR programs with more rigor. The amendments have affected all aspects of the CSR lifecycle from design, implementation & monitoring to reporting of the CSR activities undertaken.
“With the new regulations in CSR laws in India, I foresee great potential for technology and Goodera to drive social development and impact in the country,” says Abhishek Humbad, CEO and Founder at Goodera. “Focus on mandatory fund allocation for companies will drastically improve project results, positively impact compliance, and help companies become more socially driven. At Goodera, we welcome these changes. Our solution will help companies not only be compliant but also help them measure and report impact at scale.“
The Goodera Compliance Module: Goodera’s team will assist corporates in the creation of an annual action plan with a separate budget and finance module for planning annual allocations, disbursements, invoicing, unspent amounts, and surplus budgets. It also helps capture direct, indirect costs and CAPEX, OPEX for each project, and aggregates data for reporting convenience. The solution also helps expedite CFO approvals through its uniquely designed workflows.
The Goodera Impact Assessment module for corporates: Goodera has appended its technology stack to sell technology-enabled Impact Assessments for clients. This will include access to their web and mobile application, and integrations of IVRS with their CSR portal to undertake detailed impact assessment, provide beneficiary profiling, understand project insights, and demonstrate Impact. This end-to-end solution offers:
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Insights from existing data and the baseline report to plan effective field assessments,
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Automated and standardized forms determined by logical framework and theory of change modeling to ease survey and data collection, and
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Detailed reports underpinned by insightful impact dashboards.
The Goodera Partner Support Module: One of the major action items for NGOs will be to get new registrations completed within a defined timeline. The Partner Support Module supports NGOs by providing the necessary support for submission of the e-form CSR-1 on the MCA portal and to obtain a unique CSR Registration number. The new offerings allow companies to further alleviate the challenges and hurdles faced by the CSR community.
With the modules designed to be extremely secure with an end-to-end cloud-based infrastructure, Goodera is one of the only ISO 27001 certified companies in the ecosystem.
About Goodera
Goodera is a technology company that makes CSR, volunteering, and sustainability activity transparent, measurable, and engaging for its customers. Used globally by corporations and foundations, Goodera simplifies CSR by automating processes, managing data, and facilitating coordination with NGOs. Goodera enables companies to showcase quantified impact to customers, employees, and investors with ease.
Goodera is currently deployed at 200 companies – including Target, Gap, Dell, and Amazon. Managing over $500 million in CSR capital, the Goodera platform is used by corporates to collect and aggregate data from internal and third-party sources. Goodera social and environmental impact reports are used for internal progress tracking and in ESG reporting to investors, analysts, and corporate boards.
Goodera is co-headquartered in San Mateo, CA, and Bangalore, India and is backed by Omidyar Network, Nexus Venture Partners, and SAIF Partners.
For more details, please visit: www.goodera.com.
