Sustainability and technology have a close relationship, but there is room to tighten the bond- and good reason to do so. For most companies, sustainability is a welcome outcome of digital transformation. But when it helps drive the journey, businesses can unlock both economic and environmental value.

In today's world, where businesses are increasingly turning to digital solutions to streamline their operations and reduce costs, digital invoicing has emerged as a game changer. Not only has it revolutionized how businesses send and receive payment requests but also offers significant environmental benefits.

Paper invoices, a staple of traditional business practices, contribute to deforestation, energy consumption, and greenhouse gas emissions. The production of paper requires cutting down trees, consuming vast amounts of water, and releasing harmful chemicals into the environment. Additionally, the transportation and storage of paper invoices further exacerbate these environmental impacts.

By switching to its green alternative, businesses can significantly reduce their carbon footprint. They not only offer unparalleled efficiency and speed but also eliminate the need for manual paper-based processes such as printing, mailing, and physical storage, resulting in significant time and cost savings.

In line with the global target of reducing carbon footprint, companies are making the responsible decision for our planet. Large corporations like IKEA have adopted e-invoicing as part of their sustainability initiatives, significantly reducing their paper consumption. In 2021, IKEA reported saving approximately 5,000 trees annually by switching to e-invoicing. Siemens, a global technology powerhouse, implemented e-invoicing to streamline its accounts payable process. By adopting e-invoicing, Siemens reduced its invoice processing time from 14 days to just 4 days, significantly improving its operational efficiency. 

The global adoption of digital invoicing is on an upward trajectory, driven by a combination of regulatory mandates, technological advancements, cost savings, and a focus on sustainability. It does not alter the way your company does business, but it does offer a change for the better. 

To streamline your success and adopt more efficient business practices, Skraves can help you  implement the technology that makes digital invoicing possible.

To kick start the process, get in touch with us.

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