ESG Contributions in 100% Digitalization
TIE Kinetix is happy to see increasing awareness within our customer base of the benefits of organizing their operations in a sustainable way. The commitment to sustainability certainly influences business decisions across many corporations. At the same time, governments and regulators are monitoring sustainability goals and targets, which can often require businesses to report their progress in this area.
Whether these standards are being met due to reporting requirements or a personal company choice, the results are overwhelmingly positive to both the environment and humankind.
TIE Kinetix’s solutions provide our customers with a replacement to older digitization techniques and/or the printing of digitally native documents, all in the cloud. This results in reduced consumption of paper, ink, and toner, as well as GHG emissions. Similarly, TIE Kinetix also allows its employees to work remotely – which enables the company to make one of the biggest environmental contributions; fewer commuters results in significantly less CO2 emissions.
TIE Kinetix helps our customers to digitalize their workplaces with increased accessibility, no matter where their employees are located. This can help improve employee flexibility and development opportunities, as well as automate labor-intensive manual tasks.
TIE Kinetix’s solutions provide a digital document exchange process that is compliant with all global standards and transfers information accurately, which ensures improved company governance of operations.
When it comes to B2G (business-to-government) transactions, we provide our digitalization solutions as well. This improves efficiency, accountability, and transparency – and, when necessary, reduces the VAT gap.
How We Help Our Customers Meet Sustainability Goals
FLOW, our 100% digitalization document exchange solution, offers a sustainable solution for improving business process efficiency and therefore enables our customers to meet ESG compliance and reporting requirements.
Did you know that one pallet of printing paper equals 24 trees? Or that one tree equals 8,333 sheets of paper? One pallet of paper produced is equal to 942 kg CO2 greenhouse gas emissions.
One obvious way to contribute to sustainable business processes is to eliminate the use of paper, ink, and toner – which is exactly what a digitalization solution does.
Paper, Ink, and ESG
According to the World Wildlife Fund (WWF), the pulp and paper industry, which among others, makes copier and printing paper, uses between 33-40% of all industrial wood traded globally. Given the global nature of the paper industry, not all paper is produced in a sustainable way. Irresponsible harvesting from natural forests, and the establishment of pulp plantations on converted natural forests, can threaten fragile ecosystems and species, as well as cause soil erosion.
With the elimination of paper also comes the elimination of printing. Toner, ink, and even printers themselves, require the use of plastic and chemicals during the manufacturing process. Even modern inkjet cartridges emit roughly 1.2 kg of C02 per new cartridge, and 0.8 kg of CO2 per recycled cartridge. Plus, these cartridges take between 500 and 1,000 years to decompose, and many of the “recyclable” cartridges still end up in landfills.
In TIE Kinetix’s 2022 fiscal year, we processed 81.47 million* digital documents. This is the equivalent of 9,777 trees saved, 229,507 ink cartridges saved, 383,762 kg CO2 emissions saved in paper production, and 247,867 kg CO2 emissions saved in ink cartridge production.
*This number only includes external electronic documents that are deemed eligible to reduce paper consumption (i.e., external orders and invoices received and sent via FLOW) and excludes other types of electronic communications on the platform. It also excludes documents processed via legacy solutions of the company. We continuously strive to improve the quality of our data.
In a traditional, non-digitized environment, documents may be printed more than once as they travel through organizations and through the supply chain. In such situations, the environmental savings of digitalization increase with an equal factor.
The core mission of TIE Kinetix is to provide our customers with a 100% digitalization solution, which is a sustainable and environmentally friendly product. Part 2 of this blog series will further investigate how our digitalization solutions affect our ESG strategy as well as our customers’.
To read more about our ESG strategy, click here.