This article was published in Finansavisen 1. November 2022

The Norwegian software company Share Control AS is today launching ShareControl Transparency – a new program that helps customers comply with the requirements of the Transparency Act.

• Several of our customers are concerned about how they will handle the requirements of the new Transparency Act and have requested a solution that can easily help them comply with the requirements of the Act. With the help of new technology and components from our other products, we have developed the ShareControl Transparency solution in record time, which does exactly this, says Tom Scharning, working chairman of Share Control.

The solution has been developed in Norway in collaboration with Puzzlepart, and is built on modern technology from Microsoft, such as Microsoft365 and Power Platform using so-called low code technology, which gives a short time from idea to finished product.

• It is fantastic to be able to work with a visionary software company like Share Control, which utilizes Microsoft’s standard cloud platform Microsoft 365 for its user-friendly and feature-rich solutions. Puzzlepart itself uses a number of Share Control’s solutions and will also use ShareControl Transparency, says Steffen Norby, CEO and Partner in Puzzlepart.

ShareControl Transparency gives customers a good overview and documentation of the status of their own suppliers in accordance with the requirements set by the Transparency Act. If the requirements in the Transparency Act change, the program will also change.

• The EU has initiated work to standardize the reporting requirements set by the Transparency Act. As a customer of ShareControl Transparency, you will meet the requirements for first reporting in 1H 2023, and you are guaranteed further development of the product in line with Norwegian and international law developments, Scharning continues.

The new Transparency Act entered into force on 1. July 2022. It requires all ASA companies, listed companies and medium-sized enterprises *) to carry out and document due diligence assessments in relation to decent working conditions and basic human rights with their suppliers.

The businesses must report and document this no later than 30/6-2023 and anyone who wishes can request access to businesses covered by the law.

*) Businesses where at least 2 of 3 criteria are met [> 70m turnover, balance sheet > 35m, > 50 full-time equivalents)