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Going Green with Contract Management Software

Going Green with Contract Management Software

from  September 13, 2022 | 4 min read

Climate change is one of the most pressing issues the global economy faces, and its urgency is reflected in international discussion and debate. Environmental legislation and regulations are constantly changing as international territories work to reduce their overall carbon footprint. As public awareness grows, consumer behavior is changing as well. So, consumers are seeking to trade with environmentally friendly businesses. From a business perspective, requirements are matched with incentive.  The long-term sustainability of businesses will be shaped, in large part, by  efforts working toward carbon neutrality.

Environmental Strategies for Business

There are a number of strategies that will reduce the carbon footprint of corporations including:

  • Performing an energy audit to determine your baseline emissions.
  • Switching to a hybrid or electric vehicle fleet.
  • Working with suppliers that use a hybrid or electric vehicle fleet.
  • Maintaining optimal tire pressures of company vehicles.
  • Using video conferencing as an alternative to road and air travel.
  • Implementing recycling programs.
  • Increasing the energy efficiency of premises such as insulation, lighting, heating, and seals around doors and windows.
  • Committing to sustainable planting around premises.

These are all advisable as part of your long-term vision for carbon neutrality. However, a strategy that is most cost-effective while delivering fast results is to go paperless with contract management software.

Reducing Your Carbon Footprint with Contract Management Software

‘Going paperless and moving your operation to one of a digital nature is a highly cost-effective method of reducing your corporate carbon footprint, overall. It generates significant savings in premises space, storage equipment, energy supplies, and in the cost of paper and printing supplies. When you ‘go paperless’ by adopting web-based platforms for your Contract Management system, you make these savings as a result of a one-off investment, and also create a system that has the potential to further reduce your carbon footprint, and generate increased revenue, at the same time.

  • Digital storage : With a web-based Contract Management Software package, you can store an unlimited amount of contract documentation, without the associated costs of premises and equipment. Not only does this save physical space, but it also reduces the energy required to operate premises, including heating and lighting. The need for paper and stationery deliveries is also reduced, which decreases the number of trucks on the road.
  • Browser-based access: By centralizing our contract documentation in a browser-based platform, personnel can access this repository securely, and remotely. This reduces travel requirements for mobile staff, and even allows office-based personnel to easily work from home when necessary. The nature of the repository means that users have access to templates and clause libraries, so contracts can be drafted and edited ‘on-the-go,’ without the need to return to the office. Moreover, with permission-based access control, electronic signatures, multiple languages and currency options, and encrypted data transfer, documents can be shared with clients in any location – speeding up the authorization and signature process and removing the use of carbon-producing mail and delivery services.

Perhaps the most significant reduction of your corporate carbon footprint that results from ‘going paperless’ is right there in the term used. By digitizing your operation and largely removing the reliance your business has on the use of paper, you do your part in reducing the demand for paper, which in turn reduces the need for deforestation and the transportation associated with that process. Businesses around the world can invest endless amounts of revenue into forest planting, but if those same businesses continue to rely on paper-based administrative processes, the positive impact is largely negated.

Contract Management Software For Financial And Ecological Sustainability

Moving your contract documentation to an entirely digital, web-based Contract Management Software package, such as Symfact, is an investment in the long-term financial and ecological sustainability of your business. These efforts in working toward carbon neutrality become a significant selling point for your operation, and will inevitably attract new customers, as well as increasing customer retention.

Beyond the eco-friendly nature of the system, the customizable reporting feature of this software enables you to gain tighter, more productive control of your contract library, which delivers a number of additional benefits, including:

  • Closer monitoring of contract lifecycles: Deadlines and milestones can be swiftly followed up, ensuring that opportunities for renegotiation are not missed. Agreements that are no longer productive can be terminated before the automatic renewal takes place.
  • Lead generation : Customizable reports can be used to mine your contract library for actionable data, and new sales lead.
  • Optimized processes : Contract Management Software incorporates a high degree of automation which, combined with customized reporting, means that your operation is streamlined and efficient – improving your customer relations, and your bottom line.

In the final analysis, it is clear that Contract Management Software and the digitization of your business operation is good for the environment and good for the financial sustainability of your organization. As the science indicates, investment in the environment is an investment in the future, and you can achieve both with  Contract Management Software.

Dan Townsend

No Longer with Scanmarket

Dan has been a leading executive across all areas of Contract and Compliance Management applications since 2001 in both Sales and Implementation. Dan has over 30 years management experience in a wide range of business applications such as ERP Implementations, Business Process Reengineering, and Operations Management.

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