Press Release
Corcentric Helps Transportation Companies Quantify Green Initiatives
Some 18 million pieces of paper saved in one year alone
September 15, 2008, McLean, VA — Corcentric’s Electronic Invoice Presentment and Payment (EIPP) solution was used to process 1.7 million transactions in 2007, saving an estimated 832 trees and 18.7 million pieces of paper in one year alone. The shift from paper-based methods of invoicing and payment to Corcentric’s paperless electronic environment is helping companies to quantify their green initiatives with a money-, labor-, and time-saving technology.
“As companies look for ways to be more environmentally responsible, electronic invoice presentment and payment (EIPP) with Corcentric not only provides them with several green benefits, but also saves on disposal costs, manpower, and other expenses typical with paper-based invoicing and payment systems,” said Dave Lindeen, Vice President of Corcentric. “Electronic invoicing and payment is clearly the future of accounting as companies look to reduce their carbon footprint while continuing to grow their businesses.”
From an actual cost standpoint, the most immediate benefit for companies when they move to EIPP is the elimination by nearly half of the $21.86 per invoice handling cost. EIPP also provides companies with a way to grow their businesses without the resulting growth in administrative costs. With Corcentric, no additional manpower is needed to handle invoicing, payments, bookkeeping, and similar business necessities.
The environmental implications are equally as impressive. According to Gartner Group, each one of the 1.7 million transactions processed by Corcentric would be copied 11 times with the traditional paper-based method of accounting. Using single page invoices as a conservative standard, Corcentric estimates that its 1.7 million electronically processed invoices ultimately saved 18.7 million pieces of paper in 2007, conserving 832 trees with a capability of producing some 22,500 pieces of paper each.
- Using EIPP also reduces the amount of solid waste. According to the Environmental Protection Agency (EPA), paper and paperboard are the largest single components of the municipal waste stream, representing more than one third (34%) the total.
- Reduced paper production also means less CO2 emissions. Each tree saved represents .9 tons of reduced CO2 emissions, or a total of nearly 1500 tons annually.
About Corcentric
Since 1998, Corcentric has specialized in helping companies in the transportation industry reduce the costs associated with processing business-to-business transactions. The company
builds customized solutions that take customers from paper-based and manual processing to electronic and automated processing. For more information about the Corcentric solution, contact Dave Lindeen, Vice President, Sales at (630) 925-7677, e-mail dlindeen@corcentric.com, or visit the website at www.corcentric.com.
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