What is corporate social responsibility and how to get involved?

Diego Katzman

Diego Katzman
Published 04/08/2021 · 3 min read

Examples of socially committed companies, and tools for developing your own strategy

One of the most distinctive market trends these days is corporate social responsibility. More and more consumers are stopping to analyse the social causes in which companies are involved and use this criterion as a determining factor when choosing where to consume. If you are thinking of joining this new way of understanding business and developing your own corporate social responsibility strategy, we invite you to join us in this reading. In this post, we bring you some of the best examples of social responsibility, as well as some ideas and tools to start developing your own corporate social engagement strategy. Let's get started.

What is corporate social responsibility?

Corporate social responsibility refers to all those actions that aim to promote the common good of its environment and community even though they originate from a private entity. In many cases, this is nothing new: some companies historically have always been loyal to social values. Many others are seeking to incorporate some cause of solidarity that enriches and reinforces their business purpose. Both the former and the latter tend to have in common the need to articulate this social responsibility in small and medium-sized actions effectively. It is not enough for these values to be present only in the company's policy and philosophy: they must also be turned into actions that have an impact beyond your business and are enjoyed by those around it (both customers and non-customers).

Examples of companies with corporate social responsibility

Mercadona

The Spanish supermarket chain has been implementing practices that contribute to social welfare and environmental care for years. One of them is the Eco-efficient Store project, launched in 2007, which has integrated energy-efficient measures in all of its stores. In addition, Mercadona carries out the so-called silent night-time unloading in its stores and regularly collaborates by donating food to organisations such as the Red Cross and Caritas.

Ikea

The Swedish furniture and decoration company has incorporated the "People and Planet Positive" strategy into its business philosophy and practices. It seeks to strike a balance between its own development as a company and environmental and social sustainability. Some of the actions this leads to are: the installation of solar panels in its facilities, the promotion of low-consumption installations (75% of the lighting products sold in 2014 were LED), or the promise that, by 2030, all its products will be made from recycled or renewable materials.

Benefits of corporate social responsibility for your business

Beyond the immediate benefits to society and the environment, other collateral benefits help your business position itself in a marketplace where customers are increasingly scrutinising the ethical implications of their purchases. Here are some of the benefits you can get from implementing a corporate social responsibility strategy:

  • Improved corporate image
  • Customer loyalty
  • Improved energy efficiency
  • Promoting innovation
  • Favouring recognition visibility
  • Resource optimisation
  • Positioning in the market of the future

Corporate social responsibility is synonymous with innovation and efficiency. But how can you develop your own CSR strategy? Do you have the tools to implement it? As experts in innovation, at PayXpert, we believe that technology is the key for small and large companies to move towards the optimal and most efficient version of themselves and be part of the future market: responsible and sustainable. Furthermore, creating a solid responsibility strategy has to go through each link that makes up a business. In other words, innovation and efficiency become central elements in the overall functioning of the company.

Innovation, the key to an efficient and responsible future

At PayXpert, we are experts in financial technology. We have developed tools and services so that our clients can take a step towards the finances of the future: finances where technology allows you better to understand the reality of your company in less time. The result? You and your team save time and resources that you can devote to other areas. Because innovation is not only available to the most prominent companies: we offer technology that allows small and medium-sized companies to get the most out of it and compete alongside the most recognized companies. Because giving a leading role to SMEs is part of our social commitment.

Here are some of the tools that small and large companies can use to get the most out of their finances while offering their customers the most inclusive payment methods.

  • mPOS Payment Solution: Turn your mobile phone into a Point of Sale (POS) terminal. Our PayXpress softpos solution enables your mobile phone to accept payments from your customers for your goods and services.
  • Business Intelligence Dashboard: thanks to financial data management, our technology processes the data generated from your activity and provides you with the most relevant KPIs. This allows us to offer you our most expert view of your finances in real-time, so you can make the decisions that best fit your business's reality and strategic needs. Because information is power: leave your data management in expert hands and save time and resources in decision-making.
  • The best and most inclusive payment gateway: in a globalised market, offering a diverse and inclusive payment gateway is essential. Thanks to alternative payment methods, our payment gateway adapts to the needs of an international clientele. Including systems such as the Russian MIR or the Chinese Ali Pay and WeChat Pay (among many others), our system is the perfect tool for those businesses that want to reach an international market.

In the midst of 2021, the market trend is clear: the increasing digitalisation and social engagement are becoming central elements for companies that want to maintain their position. Technology is, therefore, the best ally to optimise the way companies around the world operate, allowing them to invest more resources in the things that matter. We believe we can help you go one step further in the digitalisation of your business and help you get the most out of it. Shall we talk?

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