Basware has introduced a Carbon Footprint Index for invoices. This allows users to view carbon emissions per invoice and compare the index to similar companies. "By displaying the environmental impact, users are continuously visibly reminded how even small actions lead to big savings," said Kevin Kamau, Product Manager of Analytics at Basware.
The environmental impact of invoicing is often overlooked. Ten percent of the trees cut down worldwide become paper for invoices. And the disproportionate amount of energy required to create these invoices is equivalent to the annual energy consumption of as many as 20 million households.
By adopting electronic invoicing, companies can not only reduce paper usage within the organization, but also enhance their green credentials by reducingcarbon emissions. According to 2018 research by Basware, switching from paper systems to Basware electronic billing services results in an estimated 36 percent reduction in emissions.
Benchmarkcarbon footprint
The Carbon Footprint Index, as part of the Analytics KPI overview dashboard, is calculated based on various invoice receipt methods from the 2018 study. Companies can track the development of their owncarbon index over time, view the averagecarbon footprint within the Basware network and benchmark against it.
The dashboard also estimates how many trees or how much water a company has saved or could save if more suppliers submitted e-invoices. Companies can additionally view improvement potential on a monthly basis.
"The Carbon Footprint Index is a new way to highlight sustainability with our software and make it central to the Accounts Payable KPI screen, the home screen of Analytics," said Kevin Kamau.