Over the past several years, consumers have raised their expectations of companies to “go green” by embracing environmentally conscious practices that minimize their ecological impact. Fortunately, technology that enables companies to reduce their carbon footprints has become available in tandem with consumers’ environmental concerns.
One example of this technology is automated accounts payable (AP) software, which, along with its environmental benefits, also helps adopters improve efficiencies, streamline processes and increase profits.
The Environmental Cost of Traditional AP Systems
One of the most environmentally impactful facets of manual AP processes is the high consumption of paper. Dealing with manual invoices, writing cheques, and issuing paper receipts all have far-reaching global impacts through deforestation, water use, and energy consumption. From sourcing its raw materials and production to delivering it to end-users, the paper industry leaves behind a substantial ecological footprint.
Even after it reaches the end-users, paper continues to contribute to carbon emissions. Printing manual documents, physically mailing and transporting them, and even storing documents affect the environment.
Waste generation and the overburdening of landfill sites with paper-related items, such as ink cartridges, packaging materials, and writing instruments, also work against environmental sustainability.
Adopting an automated solution is the perfect way to significantly reduce your AP department’s carbon footprint while reaping other cost-effective benefits.
How AP Automation Reduces Paper Waste
AP digitization is rooted in reducing your company’s paper consumption with a cloud-based solution that stores all your supplier invoices online, reducing dependence on paper-based processes.
This technology helps optimize the invoice approval supply chain, eliminates paper reporting, and integrates sustainability practices with your daily operations. Additionally, you’ll see reduced energy consumption by managing the entire invoice approval process online without needing to print paper and reducing internal server use.
Automated AP processes also support electronic remittance of payments upon approval of invoices, cutting down the environmental costs of writing, packaging, mailing, and transporting paper cheques.
Additionally, digitally storing invoices eliminates the need for physical storage solutions, such as filing cabinets or banker’s boxes, resulting in a more streamlined and environmentally friendly operation.
You might not see it from your office, but automated AP technology will also help conserve natural resources by reducing the cutting down of trees, which benefits the ecosystem as a whole.
In other words, minimizing your company’s carbon footprint by adopting AP automation simply feels good.
Broader Benefits of Sustainability in AP Automation
Removing the need for physical documents, as well as their associated printing, mailing, and storage requirements and associated mailing and storage supplies, allows companies to cut costs and reduce operational waste.
However, switching to an AP automated solution also brings broader benefits that can elevate your company’s reputation in the marketplace, resulting in new customers and additional revenue.
That is because consumers are making buying decisions based not just on need, pricing, and quality but also on whether the company exercises good corporate social responsibility (CSR) practices. If you demonstrate a commitment to contribute to the global fight against carbon emissions, your brand will be seen in a positive light and gain added prominence in customers’ eyes.
Other corporations and suppliers will also be eager to partner with you, especially if your green-friendly practices align with their own.
Internally, AP automation brings several other inherent benefits. For example, this solution’s capability to scan and store invoice data accurately, thanks to Optical Character Recognition (OCR) technology, improves data security and processing speeds. By eliminating manual errors, you remove the risk of data entry errors and fraudulent invoices, preventing time-consuming audits and the resultant reputational damage.
AP automation helps ensure that your suppliers are paid promptly, which nurtures and protects relationships. You’ll also boost profits by taking advantage of early payment discounts and avoiding late payment fees.
Moving Toward a Greener Future with AP automation
We are currently in an era where digitization is transforming the business landscape, and corporate environmental responsibility is expected more than ever. Fortunately, technology and green initiatives can work together to create a more sustainable world, especially in the case of AP automation.
Working together, business leaders can contribute significantly to environmental stability while streamlining internal processes, building stronger relationships, and saving money with modern software that delivers the best of both worlds.For your company, it all starts with a phone call to Ash Conversions International (ACI) for a free demonstration of our innovative automated AP solution. Let’s start improving the Earth’s and your business’s sustainability today!
Get a free demonstration of our automated AP solution that supports your company’s green initiatives from Ash Conversions International
For over 40 years, ACI has specialized in transforming how companies run their daily business processes with efficient, cost-effective solutions that provide digitized and environmentally-conscious accounts payable solutions that streamline processes, improve efficiencies, and build profits.
For over 40 years, ACI has specialized in transforming how companies manage their daily business processes with efficient, cost-effective, and environmentally-conscious accounts payable solutions that streamline processes, improve efficiencies, and boost profits
Our tech-based systems are completely customized to your requirements, integrate seamlessly with your existing tech infrastructure, and are supported by our team of experts during and after implementation.
For more information on how your company can benefit from a digital document management system, call us at 800-719-9621 or click the button below.
