Help Your Company Cut Costs

5 Sustainable Practices That Can Help Your Company Cut Costs

by Alexandrea Roman on and last update on July 09, 2019

We’ve got 7.046 billion people on the planet. That’s a lot as it currently is, but that statistic is projected to rise to 7.5 billion in 2020.

We grow in number, but the Earth stays the same size. If we’re not careful, we’ll run out of natural resources sooner or later. Thus, it’s important for us to focus on sustainability. Saving the world has never been this timely and urgent. This holds especially true for companies because they leave a huge impact on the environment they’re in.

The good news is that sustainable processes do more than take care of the Earth — they also cut costs, saving companies a lot of money in the long run. Here’s how they do it:

Renewable energy

Green power refers to solar, geothermal, wind, hydropower, and other alternative energy sources. They’re not just sustainable; they’re highly efficient, too. Companies spend less on energy costs for this reason, especially in winter and summer when heating and cooling are essential, respectively.

Regular maintenance

An ounce of prevention is indeed worth a pound of cure. When infrastructure is well-maintained (e.g., properly insulated), heating and air conditioning are maximized, so HVAC systems don’t consume more fuel and/or electricity more than they should. Same goes for water consumption. If all pipes have no leaks, then no water is wasted.

Waste reduction

When companies buy durable equipment that lasts longer, they don’t have to throw out as much waste, which is good for the environment. They also don’t have to buy new equipment as often, which is good for the budget. Other practices that reduce waste and cut costs include buying items made from recycled materials, purchasing refurbished electronics, teaching staff to use resources wisely, among other things.

Corporate responsibility

All companies are out to make money, but that isn’t the only thing they should be doing. Companies have a corporate responsibility to the communities they belong to. But interestingly, companies that give back enjoy benefits such as better reputation, increased public trust, and improved customer loyalty. It’s a classic example of “By giving, we receive.”

New technology

Companies that still use paper spend on paper usage costs. But with the prevalent use of mobile devices such as iPads, iPhones, and Android devices, along with a multitude of personal and enterprise apps in the online market, it makes sense to forgo the paper and go full digital. From board meetings to office memos, there’s an app to address any workplace need.

Going paperless? Then try out Convene, our very own board portal software that works on multiple platforms. It’s primarily used for remote board meetings, but it can also be used for other enterprise meetings and for trainings, conferences, collaborative projects, etc. In case you miss working with paper, you can use Convene’s Whiteboard on which you can make freehand annotations. It’s like the real thing, but without the unnecessary waste.

Paperless Meetings
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