How e-invoicing improves sustainability
The environmental impact of financial management is often underestimated. Today’s savvy CFOs and finance professionals are looking at the bottom line but also considering the larger picture — including how sustainability and financial success go hand in hand.
The accounts payable process is one area that can contribute to the success of sustainability. In particular, accounts payable automation has many business benefits — cost savings, improved productivity, better data visibility, increased compliance and more.
Did you know implementing e-invoicing, a paperless and digitized process for invoicing, can also positively impact the environment?
In this blog post, we’ll highlight five ways e-invoicing can help your business improve sustainability.
One of the most obvious ways e-invoicing positively impacts sustainability is by reducing paper waste. Traditional invoicing can generate a ton of paper waste, especially for bigger businesses. But with e-invoicing, you can ditch the paper while keeping your invoicing efficient. Plus, electronic records and digital archiving systems also save space, so no need to hoard paper files. By reducing paper waste, businesses can lessen their environmental impact, save costs associated with paper and printing, and make Mother Earth happy.
A key benefit of e-invoicing is eliminating the hassle of physically handling invoices. Traditional invoicing requires printing, mailing and processing paper invoices, which consume significant amounts of energy. In particular, the physical delivery of invoices results in emissions from transportation vehicles. Not so good for the environment.
In contrast, e-invoicing simplifies and streamlines your entire process, reducing the energy required for printing, transportation and manual data entry. By digitizing invoices, you reduce transportation needs and lower transportation-related emissions. This improves efficiency and contributes to a greener and more sustainable future. Win-win. Plus, your customers will be happier with shorter electronic delivery times.
For businesses operating internationally, e-invoicing saves you the hassle of physical invoices crossing borders — no more long transportation routes, emissions or hefty costs. With e-invoicing, invoices get delivered instantly, reducing the carbon footprint of transportation and postal services. Plus, it promotes accessibility, transparency, sustainability and accountability in business transactions.
Opting for e-invoicing shows a dedication to sustainability. Choosing eco-friendly solutions sends a message to customers, investors, and employees that you care about the environment. This mindset can encourage more investment in sustainable practices and foster a culture of sustainability.
E-invoicing generates valuable data that businesses can use to power up their sustainability efforts. By analyzing invoicing patterns, companies can spot areas for improvement, optimize supply chains and reduce waste. This data-driven approach helps make smarter decisions about resource usage and leads to more effective sustainability strategies.
Good for the environment. Good for cost savings, visibility and so much more.
E-invoicing is not just a financial solution — it's an eco-friendly solution that brings value in many ways. Getting started with sending and receiving e-invoices can be a great first step in your organization's digital transformation journey. Get the following benefits (and more):
- Cost savings
- Increased efficiency
- Improved accuracy
- Faster processing times
- Better supplier relationships
- Better record-keeping
- Increased transparency
- Easy compliance
How to get started with a sustainable sourcing program.
Watch our 20-minute webinar to learn why ESG matters and how you can get started. You’ll hear how to:
- Get started with a sustainable sourcing program
- Mitigate risks
- Improve reputation
- Build resilient supply chains
Automated accounts payable to the rescue.
When you have an accounts payable automation solution that takes care of the critical digital needs of today’s business, you don’t have to worry about waste — in process or paper. Medius accounts payable software solutions go beyond basic automation — giving you the control and insight you need to run a better business and promote sustainability.
