And here to tell us about one of those industries is Frida from Worldfavor. So please welcome
Frida to the stage.
Hi. Do you have any energy left? A little bit? Yeah, I'm going to tell you about an industry
that you might not be fully aware of yet, but it's happening a lot in this. And I'm
going to tell you a little bit about why we're doing what we're doing.
So basically, there is a new legislation which is going to force all large companies in the
EU to report on their sustainability performance. But not only legislation is nowadays demanding
this type of information, but also more and more consumers. Also investors, actually 30
percent of all assets managed globally are screened with so-called ESG criteria, which
is sustainability criteria of different kinds. And especially in buyer and supplier relationships.
However, consumers, they don't have access to this information at all and get more and
more frustrated about that. Investors then, what they do is they buy this data for quite
a lot of money and from a screening company, but they in turn have to hire someone to actually
manually scrape this information from various documents and the web. And in buyer and supplier
relationships, we are wasting more time and resources than ever on sending information
back and forth using all types of different formats and there's no standardised framework
for this. So all these European large companies are now thinking, how are we going to manage
this new legislation in a cost efficient way? So as you might understand, unlike financial
data where there are a lot of advanced systems for comparing in real time, this is how sustainability
information looks today. So there's a huge demand for the data and companies have the
information, it's just not digitalised. So it's not digital, it's not gathered anywhere
and it's very definitely not structured. Of course, this is making it impossible to compare
and also very hard to access and very hard to share. So this is why me and my team founded
Worldfavor and what we're doing is that we're transforming basically this chaos of inefficiency
by digitalising all of this data and gathering it in one platform accessible through the
cloud. So the result is a complete automation of all the information flows that are happening
in this type of information, making it fast and accurate for a company to gather and compare
the sustainability performance within the organisation or from external partners. By
using any of these established guidelines or KPIs that you want to use and we also inform
all companies of what information their stakeholders are asking for so they can just come in and
provide what's missing. And of course, it gets a lot easier to distribute and visualise
in powerful ways and then it becomes that valuable asset. So basically the product is
providing a complete solution for all needs within this sustainability area. So for managing,
reporting and visualising your information and also for accessing it from your value
chain and comparing the performance. And just to give you a look of what's unique with Worldfavor,
we don't want to reinvent the wheel. There are different guidelines and standards for
how to measure this information and how to measure the performance. So we're sort of
just taking it all in one place and making the infrastructure, the digital infrastructure
to handle the information. So we've implemented all of these different standards and guidelines
and what we're also doing is that we are linking them to each other because they overlap quite
a lot. So we Worldfavor, you can just have your data and then these standards and guidelines
are just different ways of framing the information. And to be clear on what we are actually charging
the companies for, what's the value? Because I get this question a lot. It's the efficiency
of automising the information flows, but it's also the compliance part. It's the enhanced
brand when it comes to the marketing side of it, but this is a big one. The risk mitigation,
following up your whole supply chain, being in control of what's going on so that you
don't end up in trouble. So we have some more than 2,000 companies reporting through Worldfavor
today, mainly in Sweden, where we have large brands, Swedish brands, such as Folksam, which
is Sweden's largest insurance company. So they are actually using Worldfavor with all
of their departments and with majority of their suppliers. And we sell it as a yearly
subscription. So depending on the size of the company that uses the tool, these subscriptions
span between 3 and 30,000 euros. Okay, so I wanted to give you, there is not much data
on the market, the size, the market value, but what we can look at is how many companies
are reporting sustainability today, which is quite a lot. And these are the largest
100 companies in 45 countries. So on an average it's 73% reporting rate globally. And my
little homemade heat map is saying that it's a globally spread phenomena. So the red dots
are like more than 90%, which is normally legislation. And then we have the global market
we have more than 80, which is the orange and more than 70, which is the yellow. But
the details are not important. The important thing is that it's a very global phenomena
where all large companies are in the same boat and they're trying to find some way to
make this more efficient. And for Worldfavor, we're right now mainly in Sweden. After summer
we will be taking this to Europe, testing the market throughout Europe. And then we
will of course leverage on this new legislation as a marketing message. And then the next
natural market for us will be the US. And then we will start to define the next strategic
markets. But the strategy was what I just said. However, Worldfavor has a really large
network effect. So with one new customers, we are negotiating with a customer, a potential
customer right now, that has more like 80 to 100,000 suppliers all over the globe.
So even though we have our strategy, we will have users in all countries, all types of
countries by signing some new customer. So that's quite interesting. Oh, I want to share
our vision. I know this is a nerdy subject, but it is really big and we need to have a
centralized place for this data. It's just not working as it is now. We have centralized
databases for everything else, so why not this? So our vision is obviously to be the
landmark when it comes to this data. So as LinkedIn is for all personal CVs, or whatever
it is, the obvious place to go when you want to rent someone's home. Worldfavor will be
the obvious place to go if you want to find or share sustainability data. Thank you.
