PayablesNexus

So what’s the big Green idea? Most companies are actively espousing Green Building initiatives this year. But, what many don’t realize is that Green Operations can be just as important and effective. By deploying accounts payables automation solutions, like PayablesNexus, you can positively contribute toward your company’s Green initiatives.

How Do Your Accounts Payable Operations Impact Being Green?
According to information provided by the U.S. EPA and University of Virginia, it takes one pulpwood tree to make 11,500 sheets of typical office use, letter-sized, 20 lb. paper. In accounts payable, studies show that an invoice is typically photocopied 5 times from the time it is received in the mail until the time it is paid and filed. With a conservative average of 2 pages per invoice received, that is 10 pieces of paper used for every invoice received. If you process as little as 24,000 invoices a year (2,000/month) that is over 240,000 pieces of paper, or nearly 21 trees!

But it’s not just the copies of PO’s and invoices that make your operations inefficient, costly and a burden on the environment. The associated filing, storage, shipping, labor and overhead can also be major contributors to consider. The most sensible solution is the transformation of this traditional paper-dependent accounts payable process into an automated (paperless) accounts payable software, like PayablesNexus. This effective solution increases productivity, minimizes costs, and builds an environmentally conscious corporate reputation, positively impacting your bottom line.

Specifically, implementing PayablesNexus provides these environmentally friendly benefits:

• Reduces paper consumption dramatically, due to electronic PO and invoice storage and approval processes
• Enables vendors to send invoices electronically via email or vendor portal, reducing paper usage and storage needs
• Facilitates faster invoice to payment cycles, reducing the need for additional invoice notices from vendors
• Reduces the need for paper, ink (toner), equipment, filing storage and space, which in turn will reduce their associated expenses and, most importantly, reduce the environmentally harmful processes, toxins, and energy waste associated with the manufacturing and maintenance of these related materials
• Eliminates/Reduces shipping supplies from the approval and storage processes, along with the transportation related pollution

Last year alone, PayablesNexus processed over 1 million electronic documents eliminating over 5 million possible paper copies to save hundreds of trees. If your corporation is interested in implementing Green AP Operations, please contact us on how to get started.