INTRODUCTION

Data Zoo is a global identity solution, powering modern verification experiences for digital businesses around the world.

They help organisations process and verify sensitive customer information, securely, seamlessly, and at scale, enabling a friction-free customer onboarding experience.

Read on to see how AssuranceLab's expertise and technology-driven approach, enabled Data Zoo to better understand the importance of ESG, and realise its impact both internally on their own processes, and externally with global investors.

BACKGROUND

After completing an audit to become ISO 27001 certified, Data Zoo first met with AssuranceLab in 2021 while looking for a SOC 2 auditor. 

They completed AssuranceLab’s free readiness assessment and were filled with confidence to learn that many of their documents provided for their ISO 27001 audit, could be leveraged to complete their SOC 2 audit (along with some additional evidence). 

Eager to continue their compliance journey, Data Zoo partnered with AssuranceLab for SOC 2 Type 1 before moving straight into their Type 2, commenting on how smooth and easy their audits felt due to the tech-enabled, agile and collaborative approach taken by AssuranceLab.

THE ASSURANCELAB DIFFERENCE

AssuranceLab's technology-driven audit process, significantly reduces the effort and stress associated with audits

The ability for Data Zoo to upload documents at any time and receive prompt feedback, made the process smoother and more efficient.

These AssuranceLab differences were a welcomed contrast to the previous and more traditional audits they had completed. In these, they felt interrogated by the auditors, who had to physically visit their offices and complete everything in a time crunch of a few days.

THE JOURNEY TO ESG REPORTING

Data Zoo then went on to complete CDR and CSA STAR with AssuranceLab in conjunction with their ongoing SOC 2 Type 2 audits, but would have never guessed that in 2022 they would be completing their first ESG audit. 

Being in the identity verification space, where ESG was not a common compliance standard, it had not been something Data Zoo had considered. That was until in 2022, when AssuranceLab’s Co-founder and Co-CEO Paul Whenam reached out to provide more information on their new ESG offering.

Following this discussion, Dr. Memoona J. Anwar was able to “connect the dots of ESG with [their] business” using policies and procedures that were already in place.

A TANGIBLE IMPACT

Data Zoo's journey through the ESG audit had a tangible impact on their internal and external business practices.

Their ESG audit led to updates in human resource policies, increased documentation of community work, and a heightened focus on gender pay gap issues.

After completing their ESG audit, Anwar now holds their ESG report as their most cherished attestation due to the fact that “it highlights the work [they] are doing outside [their] business”

Without their ESG report Data Zoo would not otherwise get a chance to highlight such as:

• Supporting Indigenous Aboriginal and Torres Strait Islander students at Woorabinda State School
• Supporting women in STEM by funding PhD programs for international students

THE EXTERNAL BENEFITS

The ESG report not only strengthened Data Zoo's internal practices but also had external benefits. It played a crucial role in attracting investors, providing Data Zoo with a competitive advantage in the global market. The certification instilled confidence in investors and allowed Data Zoo to answer their questions with assurance.

LONG-TERM IMPACT AND FUTURE OPPORTUNITIES

As a result of the ESG attestation, Data Zoo implemented changes in policies and practices, aligning with sustainability goals. This not only impacted their internal operations but also positively influenced their external image, strengthening their position in the global market.

RECOMMENDATIONS AND ENGAGEMENT FROM OTHERS

Dr Memoona J. Anwar encourages businesses, particularly those with a SOC 2 but without an ESG report, to embrace sustainability reporting. She emphasises the educational role AssuranceLab can play in helping businesses understand the link between ESG practices and their specific industry, making the certification process more accessible.

CONCLUSION

AssuranceLab's collaboration with Data Zoo in conducting an ESG audit proved to be a transformative experience. 

The partnership not only facilitated the attestation process but also contributed to Data Zoo's continuous improvement, enhanced global recognition, and strengthened their position in the market. 

If you would like to experience a similar transformation and positive impacts that a well-executed ESG audit can bring, reach out to our team at: info@assurancelab.com.au