Basware issues Earth Day guidelines for green finance
(Thomson Reuters ONE) -
Basware issues Earth Day guidelines for green finance
Environmentally friendly practices reduce paper, improve finance operations
STAMFORD, Conn., April 14, 2015 - In keeping with Earth Day 2016's theme of
"Trees for the Earth," Basware, the global leader in networked purchase-to-pay
(P2P) solutions, e-invoicing and innovative financing services, today released
guidelines to help companies significantly reduce paper through financial
process automation. These guidelines also help companies improve their finance
operations and reduce costs.
An estimated 500 billion invoices are sent globally each year with businesses
and government receiving about 170 billion invoices annually. According to a
Feb. 2016 report from Billentis: E-Invoicing/E-Billing, International Market
Overview and Forecast, it is projected that only 28 billion of these B2B and B2G
invoices will be sent electronically in 2016. In addition, because there are
many supporting documents accompanying invoices, such as purchase orders and
goods received, the amount of paper organizations receive is increased by
multiples.
"Reducing paper is a win-win situation for companies. The billions of paper
invoices sent annually not only destroys trees but also creates problems for
organizations as well, by minimizing visibility, creating inefficiencies, and
increasing costs," said Bob Cohen, Basware VP, North America. "By reducing or
eliminating paper invoices and implementing other green financial practices,
companies can minimize their carbon footprint, as well as improve their
visibility and control over cash flow, spend and working capital."
Paper production is a cause of deforestation, since the reduction of trees
increases carbon dioxide emissions. According to the Earth Day website, "...in a
single year, an acre of mature trees absorbs the same amount of CO2 produced by
driving the average car 26,000 miles."*
To benefit the environment and organizations, Basware recommends eliminating
paper in the following four ways:
* Implementing e-invoicing. Companies can reduce and even totally eliminate
paper invoices by using cloud-based business commerce networks to send and
receive invoices globally. In addition, companies can realize up to 80
percent cost savings, gain accuracy, and eliminate time-consuming and manual
processes, such as printing, mailing, scanning, keying in invoice data,
manually matching invoices to orders and archiving.
* Creating a green supply chain ecosystem. By helping their suppliers
establish e-invoicing through supplier on-boarding, supplier portals and
other services, many companies are receiving 100 percent of their invoices
electronically, while also promoting eco-friendly practices throughout their
trading ecosystem.
* Encourage electronic purchases. Companies can eliminate large paper catalogs
for employee purchasing by providing e-catalogs over business commerce
networks. This practice also helps companies enforce their purchasing plans
and policies and support the vendors that provide the best value.
* Make payments electronically. By implementing electronic payment practices,
companies can forgo the need for checks and cash in B2B financial
transactions. It's not only good for the environment, but it's also a more
efficient and effective way to conduct business. By using solutions that
combine e-invoicing and e-payment networks, both buyers and suppliers can
benefit from improved cash flow.
About Basware
Basware is the global leader in providing networked purchase-to-pay solutions,
e-invoicing and innovative financing services. Basware's commerce and financing
network connects businesses in more than 100 countries and territories around
the globe. As the largest open business network in the world, Basware provides
scale and reach for organizations of all sizes, enabling them to grow their
business and unlock value across their operations by simplifying and
streamlining financial processes. Small and large companies around the world
achieve significant cost savings, more flexible payment terms, greater
efficiencies and closer relationships with their suppliers. The company's North
American business, Basware, Inc., is headquartered in Stamford, Conn. Find out
more at www.basware.com.
Follow Basware on Twitter: (at)Basware, join the discussion on the Basware
LinkedIn, Basware Facebook and Basware Blog and subscribe for the latest news.
COMPANY CONTACT:
Robert Cohen
Basware,Inc.
robert.cohen[at]basware.com
203-487-7905
MEDIA CONTACT:
Diane Pardes
Pardes Communications LLC
dpardes[at]pardescommunications.com
781-652-8059
*http://www.earthday.org/earth-day/earth-day-theme/
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Basware via GlobeNewswire
[HUG#2003607]
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Datum: 14.04.2016 - 15:30 Uhr
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