Do you know just how much paper is used in invoice processing alone each year?
Let us enlighten you.....
-Each year there are roughly 170 billion invoices from B2B transactions
-The average invoice is around 3 pages which translates into 432 Billion sheets of paper used each year
WHAT ELSE DO WE KNOW?
A single tree translates into around 8,500 sheets of paper
Turning a single tree into paper for invoicing releases 110 lbs. of CO2 into the atmosphere
DO THE MATH
51 million trees that are used for invoicing translates into contributing 4 million tons of CO2 into the atmosphere every year
HOW MANY TREES??
Aprox. 51,000,000 trees are cut down and used for paper invoicing services each year
A healthy tree absorbs round 48 lbs. of CO2 each year
1,200,000 tons of CO2 not being absorbed and 2,805,000 tons of CO2 being released into the atmosphere
“Problems cannot be solved at the same level that created them.”
A Little Bit Can Go A Long Way!
If we reduced the number of paper invoices to even 50% of the total amount of invoices sent in a year, we could reduce the CO2 amounts equivalent to 276,500 automobiles!
A Word From An Expert
"The technology that changes the industry will be the one that solves the technology fragmentation, is inclusive, and provides transparency on both sides. The problems go beyond the capabilities of the current work-flow tools. Financial technology professionals need to start looking outside of the industry and leveraging advancement in other industries. NetChain2 has done this and their solution is reshaping AP, AR, and overall business commerce"
-Jessee Harro : Global Director Finance Google
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