How Big Is Your Paper Billing Footprint?
What is the environmental cost of sending or receiving a single paper check? After all, it's just a slip of paper. How large a footprint can it really leave?
On the surface, paper billing doesn't seem so bad. But every paper-based transaction sets off a chain reaction of additional steps whose cumulative cost to the environment is much higher than you probably realize:
- Sending paper invoices requires printing, envelopes and postage stamps
- Paper checks require additional more printing, envelopes and postage
- Receipts, pay stubs and deposit slips — courtesy of the bank – add to the paper footprint
- Moving all of this paper back and forth requires gasoline and jet fuel
- Then you have ink cartridges, printers, copy machines and all the other office equipment required to make paper billing work
When you factor in all the steps required to process a paper check, it’s easy to understand why the average American office worker burns through more than 10,000 sheets of paper every year.
Roughly 50 percent of all small businesses continue to pay their employees with paper checks that must be cut, mailed and processed each month. Many businesses, from utilities to lawn care companies, still send paper bills and paper invoices, and their customers still pay be check.
Electronic bill payment is alternative to that massive paper footprint.
Using E-payments to Reduce Your Paper Billing Footprint
Electronic invoicing and e-payments allow you to reduce your paper-billing footprint. All transactions happen digitally, removing the need to print out or send paper invoices, checks and receipts. And if you already have a computer, you don't need to invest in additional equipment to make electronic invoicing work.
Electronic billing is great for the environment. But it offers other important advantages as well:
1. Corporate social responsibility. Demonstrate to your customers that you care about the environment by offering greener and more sustainable payment solutions.
2. Enhanced transaction speeds. Paper checks and invoices take time to send and time to process. By contrast, electronic billing is instantaneous.
3. Greater security. Checks and invoices get lost in the mail all the time. E-payments are much easier to track — no matter where you are in the world.
4. Increased savings. When you factor in material costs and employee hours, each paper check costs your company anywhere from $4 to $20 on average. Electronic payments are 100 percent automatic, especially if you enable recurring billing.
Ready to Reduce Your Paper Billing Footprint Today?
Faster payments, lower costs and a greener planet. These are just some of the many benefits of paperless billing.
If your company is still using paper-based payment systems, let us help you make the transition to electronic billing. Use the free resources below to get started: