Corporate social responsibility (CSR) promotes a vision of business accountability to a wide range of concerns related to the community and civil society in general. We as a leading mobile app development company believe in creating technology solutions that enhance the business’s productivity and economy. Implementing the CSR terms and norms our focus is on how to regulate the CSR strategies that truly correlate the values of the business and society. Through our CSR solution, we are trying to evaluate the planning, resourcing, and monitoring of CRS investments.
Let’s understand
According to the CSR terms and norms every year, companies with a minimum net worth of Rs 500 crore, turnover of Rs 1,000 crore, or net profit of Rs 5 crore are required to spend at least 2% of their average profit for the previous three years on CSR activities. The purpose of CSR is to ensure that there is the proper utilization of funds involved in strengthening the purpose of programs such as community education, employment, homelessness, and many other social causes.
CSR Statistics
Nowadays, the importance of CSR for consumers is growing significantly. CSR facilitates the development of society beyond legalities and contractual arrangements. Sometimes CSR has been misused by corporates, it became a tool used to create the illusion of social responsibility. CSR has gone up from 10,066 crore in 2014-15 to 3,327 crore in 2017-18. It was spent highest in education, health, fight against poverty and malnutrition, access to clean drinking water, livelihood and for the differently-abled.
Our objective: How the benefits of CSR can be maximized by monitoring and tracking the funds and resources.
Issues and Challenges
Contributing to Corporate social responsibility is the way to create business values while promoting positive social changes. It has a major impact on the business bottom line as it is getting a lot of attention for good reasons. These days the concept of corporate social responsibility is firmly rooted around the globe as a “Business Agenda” to take positive action where many hurdles needed to be overcome.
The prime purpose of counting CSR is to make the corporate business activities as well as the corporate culture both supportable. No serious efforts are made to properly track and analyze the resource at the grassroots. Moreover, there is a lack of interest in participating and contributing to CSR activities by many companies. Such situations are aggravated due to the lack of tracking, communication, audit, and records between the company and the CSR communities.
Issues of Transparency: Lack of transparency is one of the key issues brought forth while regulating CSR funds and resources. Many companies have an expression that local implementing CSR agencies offer a lack of transparency. They do not make adequate efforts to disclose information on their programs, audit issues, impact assessment and utilization of funds.
Monitoring Non-governmental Organizations: There are no measures taken to identify the real needs of the community and work along with companies to ensure the successful execution of CSR activities. It is experienced that there is no monitoring done to control nongovernmental organizations in remote and rural areas that can be considered.
Tracking Corporate Social Responsibility activities: Corporate social responsibility within the local communities has not made serious efforts to spread awareness about CSR. CSR funds in its true sense need to be the track to overcome the challenges that eventually impact the end-users. It is thus important for management to realize that it must consider the impact of CSR actions taken. Considering whether the action likely promotes the public good and contributes to the basic belief of society.
Technology Driven Solution
Aware of the multitude of challenges it is important to increase the impact of the CSR with the technology. Quytech a tech lead company discovered the delicate balance between achieving corporate profitability and making a social contribution with the technology.
We provide fully hosted and managed CSR solution used to engage employees in volunteering, giving, and sustainability initiatives. Following the CSR terms and norms, we are dedicated to improvising CSR framework helping administrators to manage corporate and foundation charitable programs. Our CSR solution will help you to leverage reliable payment distribution services, robust reporting tools, and CSR program management that increases employee participation. Here are some features of our CSR solution.
Create Events
Our CSR solution gives you and your team the flexibility to set up events, coordinate, and recruit volunteer.
Online Track
With this feature track individual volunteer to ensure that CSR event reporting is up-to-date and easily reportable to the management.
Run Campaigns
Quickly rally your employees to support CSR campaigns by building connections and supporting fundraising.
Engagement
Our solutions drive engagement that helps to make your programs a bit easier for managing and growing with interactive CSR initiatives.
Motivate participation
Provide your participants to share their volunteer program on social media to motivate other employee for more participations.
QR code attendance
The QR code is scanned by the attendee, the location, action and CSR event description details. That you specified above are displayed, and the person scanning the specific QR code is asked to enter their name of identification number.
Employee/Volunteer Time Sheets
Your employees/volunteer scan for logging employees in and out of work, whether it be on-site employees or remote employees.
Increasing the CSR impact with technology
The positives of a CSR impacts can bestow an organization in terms of finances and decision-making. There is an urgent need to address the various CSR impacts with the help of the technology. Our CSR solution helped is to track 8000 employees’ participation in CSR activities.
- It help 40000 students get learning and training in different skills with traceable outputs.
- 8000 employees’ participation and the system tracked 480000 man hours of volunteering efforts
- Total 19200000 CRS spent was tracked with its overall impact in the society.
- Increased brand awareness in rural India
Our solution coupled with our best-in-class account management tracked .
Request for Demo at info@quytech,com or Fill the inquiry here