OTTAWA, ON, Oct. 26, 2020 /PRNewswire/ -- Assent Compliance is the first supply chain data management firm to successfully complete an automated data submission to the European Union (EU)'s new SCIP database on behalf of a customer.
The EU's Waste Framework Directive, along with its new SCIP database reporting requirement, is part of Europe's ongoing prioritization of environmental and economic sustainability.
"We at Assent are pleased to facilitate the transition to a more sustainable economy and help ensure waste is valued as a resource," said Assent CEO Andrew Waitman. "Enabling our large customer base to meet the SCIP database's requirements for a circular economy demonstrates that we are on the same journey as Europe's sustainable future."
However, making the transition to a sustainable economy comes at an immediate cost to industry. Companies across Europe, and globally, are wrestling with the financial, logistical, and enforcement implications imposed by the EU Waste Framework Directive's SCIP database. Estimates suggest that companies in Europe could spend over €67 billion per year to meet these new reporting requirements, starting in January 2021.
The Assent Compliance Platform — Assent's software — organizes, simplifies, and automates the highly complex SCIP process via a system-to-system connection. Without this solution, companies must manually input submissions one by one through the database's interface.
Raj Takhar, Assent's Senior Subject Matter Expert, Materials Compliance and Chemical Reporting (Europe), is part of an industry working group advising the European Chemicals Agency (ECHA) on the database.
"A manual approach to data submission is simply not feasible for most companies," said Takhar. "Each part could require hundreds, if not thousands, of database submissions, and some products have thousands of parts. This is important information to share, but the scale of this can be overwhelming to manage without help."
Assent's automated solution will save companies thousands or millions of dollars and countless hours in manual data management, and reduce overall supply chain, operational, and financial risks.
"This is the most broad and detailed centralized database in the world for contributing to the European Union's sustainability goals toward a toxic-free environment," said Takhar. "It will enable stronger enforcement from regulatory agencies, while providing investors and non-governmental organizations with a direct lens to scrutinize corporate commitments to the elimination of hazardous substances from their products."
Critically, Assent's solution combines expertise and technology to provide a holistic approach to the SCIP database requirement, empowering companies to take meaningful action toward improving their environmental and economic sustainability without compromising their business.
About Assent Compliance Assent Compliance is the global leader in supply chain data management, helping companies manage third-party data to protect corporate brands, increase market accessibility, and reduce operational and financial risk. To learn more, visit www.assentcompliance.com.