Small business sustainability plans: Are they worth the hype?

Discover why business sustainability is more than mere hype

Consider two hypothetical small medical supply businesses. They both routinely work with insurance filings, customer records, and supply management chains. One, Company A, still relies on paper management and ground mail for accounts receivables, insurance matters, and more. In addition to records management labor, Company A also pays a specialized firm to shred sensitive documents, rents secure storage facility for documentation and has a turnaround time of a week to ten days for some claims.

These changes improve the bottom line and employee satisfaction while reducing a company’s carbon footprint

Company B recently converted all paper documents to digital copies and only stores information that must be kept in paper format. They keep all their data in a regulatory-friendly cloud solution and can access every document on file within a few minutes. As a result, the company is better prepared for disasters and has enhanced their business continuity planning. Whether working with an insurer, a customer, or a medical vendor, any Company B employee can easily handle several requests in a day’s time.

Company B has reduced paper waste, improved turnaround times, saved money, and improved their customer experience. These changes improve the bottom line and employee satisfaction while reducing a company’s carbon footprint. Sustainability using modern technology is a win-win situation for today’s small and midsize businesses.

Use modern solutions to transform business — any budget, any business

While sustainability can include eco-friendly installations and product commitments, these stereotypical fixes are not always part of the solution. To gain the most benefit from small business sustainability, look for areas where your strategic business goals match up with sustainability goals. If you need to cut overhead costs, use technology to improve workflow efficiencies and support remote work. If all of your equipment is getting old, start replacing pieces incrementally or partnering with services providers that can provide economies of scale.

Look for areas where your strategic business goals match up with sustainability goals

Global supply chains, consumers, and entire countries are committing to sustainable practices, and those who don’t join in are seeing the negative repercussions. Digitization often plays a role in sustainable success. For example, a telecommunications company saved over $1 million in overhead by using technology-driven solutions to reduce paper waste.