Basware releases sustainability agenda to future-proof
financial accounting
CHARLOTTE, N.C. and HELSINKI, April 29,
2024 /PRNewswire/ -- Basware, a global leader in AP
automation and invoice processing, has released its first
Sustainability Report, outlining how it is helping customers reduce
their carbon footprint and embrace sustainable practices.
With incoming regulations anticipated from the European
Sustainability Reporting Standards (ESRS) and the SEC in the US,
ESG has become a critical priority for finance teams worldwide. A
survey with Forrester found that 90% of accounts payable (AP)
decision-makers in the EU and 74% in the US are considering
enhancing their ESG footprint as a top priority over the next two
years.
Research shows that the average enterprise still receives
half (50%) of its invoices in paper format. Basware's automated
e-invoicing platform and online portal helps customers slash their
paper-based invoicing by 80%, resulting in less than 10% of
invoices being paper-based. By going paperless with digital
invoicing, businesses cut their carbon emissions.
Basware's Touchless Invoice Processing dashboard helps
customers identify and remove manual touchpoints in the invoice
process, enabling them to save on the human resources required and
CO2 emissions associated with legacy manual processes.
To empower customers to further reduce their emissions, Basware
Analytics includes an Invoice Carbon Footprint Index Dashboard.
This tool calculates CO2 emission savings, as well as the number of
trees and water saved by switching to electronic invoices rather
than paper.
Basware is also driving its own sustainability initiatives, with
47% of the company's offices currently using renewable energy.
Basware has launched a series of learning and development programs
for staff, implemented a comprehensive DEI framework, and
participated in global charity schemes.
Jane Broberg, Chief HR Officer
at Basware, commented on the launch of Basware's first
Sustainability report:
"ESG is a top priority at Basware.
Our first sustainability report holds us accountable for our ESG
strategies and ensures that we make progress towards collective
climate goals, social responsibility targets, and governance
policies. Our actions impact the wider industry, and it's crucial
to be transparent with our customers, partners, and prospects. As
regulation around tax laws also increase, Basware is committed to
being a leader in global e-invoicing, addressing compliance at both
the global and local levels for its customers."
As e-invoicing mandates also drive urgency, countries worldwide
are realizing the benefits of digital invoicing, not only for
sustainability but also for fraud prevention and
compliance with tax and trade laws.
In 2023, Basware was awarded a Silver Medal for its ESG efforts
by independent regulator EcoVadis, placing its sustainability
management system among the top 25% of assessed companies. Basware
was also ranked in the top 38% in the IT and software development
sector by the CDP (Carbon Disclosure Project).
To read the full sustainability report, visit:
https://www.basware.com/en/resources/basware-sustainability-report
About Basware
Basware is how finance leaders in global enterprises can
finally automate their complex, labor-intensive invoice processes
and stay compliant with regulatory change. Our AP automation and
invoicing platform helps you achieve a new level of efficiency – in
a matter of months – while reducing errors and risks. We bring a
unique combination of true automation, complete coverage, and
deeper expertise to make it all just happen for our customers.
That's why the world's most efficient AP departments at thousands
of companies rely on Basware to handle over 220 million invoices
per year. Basware. Now it all just happens.™
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