• Homepage
  • Our Solutions
    • Document Storage and Records Management
      • Deed Storage
      • Long Term Storage
      • Media Storage Solutions
      • On Demand Storage
      • Onsite Management
      • Secure Vault Storage
    • AP Invoice Automation Solution
      • Start Your AP Journey
      • E-Invoicing
      • Features
      • ERP Integrations
      • Why Kefron AP?
      • Pricing
    • Online Document Solutions
      • Online Document
        Management Software
      • Online Document Storage
    • Scanning and Data Capture
      • Scan to Digitise
      • Scan to Process
      • Digital Mailroom
    • Business Process Services
      • Data Management
      • Data Subject Access Requests
      • Securities and Deeds Management
  • Who We Are
    • About Kefron
    • Who We Are
    • Contact Us
    • Working with Kefron
  • News & Events
    • News & Events
    • Articles & Updates
    • Customer Stories
    • Upcoming Events
    • On-demand Events
    • Select Location
    • Ireland
    • United Kingdom
    • Rest of the world
  • Let’s Talk
  • Republic of Ireland website
  • UK website
  • Rest of the world website

Finance Sustainability and AP Automation

In today’s ever-evolving corporate landscape, financial sustainability isn’t just a buzzword—it’s a necessity. Integrating finance sustainability into your company’s strategies is vital for long-term success and environmental responsibility.

What is Finance Sustainability and Why It Matters

Sustainable finance entails a strategic approach that combines financial growth with ethical responsibility, particularly environmental stewardship. As companies strive for long-term stability and societal impact, sustainable finance is increasingly becoming an imperative rather than an option.

Finance Sustainability vs Traditional AP Processes

Corporate sustainability is an integral part of the objectives of modern companies. However, the conventional accounts payable processes stand as roadblocks, utilizing outdated procedures that have lost their edge with the advent of electronic technologies. In contrast, sustainability finance strategies aim to harmonize financial activities with environmentally friendly practices.

AP Automation: A Catalyst for Achieving Sustainability Goals

How precisely can an AP automation solution like Kefron AP assist companies in fulfilling their environmental commitments and achieving their sustainable finance goals? The automation of these processes substantially decreases the administrative burden and minimizes wastage, thus aligning the Finance Teams with the sustainability goals of the company.

What’s Wrong with Legacy AP Processes?

Traditional ‘Legacy’ AP processes are laborious, time-consuming, and costly. For instance, even electronic invoices have to be printed, manually stamped, coded, and then hand-delivered. Such procedures not only risk losing invoices but also make timely approvals dependent on the physical presence of designated approvers.

Financial and Environmental Costs of Legacy AP Processes

Research indicates that the Accounts Payable process could use upwards of 200,000 sheets of paper per year—equivalent to felling more than 400 trees. Additionally, the cost of maintaining such practices, including printing expenses, can amount to around £7,500 annually.

Benefits of AP Automation in Elevating Finance Sustainability

Through the benefits offered via AP automation, several operational issues can be resolved or mitigated, such as GDPR compliance concerns, time constraints for necessary data analysis, and bottlenecks affecting overall operational efficiency. The automation provides a more streamlined, ‘greener’ process that directly contributes to sustainability finance goals.

  1. Improves Visibility & Control: In Legacy AP Processes, certain documents remain hidden, creating a misleading scenario. Automation ensures that all documents are accounted for, tracked, and easily retrievable.
  2. Enhances GDPR Compliance: The paper-based approach risks violating GDPR by exposing sensitive documents. Automated systems maintain the confidentiality of data, thus boosting GDPR compliance.
  3. Strengthens Supplier Relationships: Delays in the AP process can strain supplier relations. Automation alleviates such delays, improving and possibly expanding existing business relationships.
  4. Saves Time: Automation lifts a significant burden off the shoulders of AP teams by automating time-consuming tasks like invoice scanning and data entry, freeing up staff for more meaningful work.
  5. Enhances Accessibility: The ongoing pandemic has not impeded the automated AP processes, ensuring that invoices can still be processed and approved remotely, thereby maintaining business continuity.

Kefron’s collaboration with the renowned outdoor clothing brand Regatta has significantly aided the British company in accomplishing their sustainability finance goals through The Honesty Project. To hear more about AP Automation role, click here.

For further information on how AP Automation technology can boost your finance sustainability efforts, click here.

BlogInvoice Automation

Read time: 6 minutes

Related articles

Accounts Payable Reporting: 5 Essential Reasons Why It’s a Business Priority

Read time: 5 minutes

BlogInvoice Automation

AP Leaders balance traditional priorities with those that place them on the path ahead. According to industry leaders Ardent Partners, the top priority in 2023 is improved accounts payable reporting and analytics. This underlines the professional awa...

Read more

Council Finance: 10 Reasons UK Councils Shift to In-House AP

Read time: 6 minutes

BlogInvoice Automation

Accounts Payable Outsourcing vs Automation: Why local councils in the UK are taking a fresh look. Outsourcing the Accounts Payable process has long been a strategic choice for local councils seeking to optimise their council finance operations, reduc...

Read more

How a cybersecurity company implemented Global e-invoicing

Read time: 5

Customer StoriesInvoice Automation

Exclusive Networks, a global cybersecurity company with operations in over 40 countries, faced challenges with a decentralised finance structure. The company embarked on a journey to implement e-invoicing software and Accounts Payable (AP) automation...

Read more

Tax Compliance & E-Invoicing: New Business Era

Read time: 6 minutes

BlogInvoice Automation

The advent of e-invoicing is reshaping how companies manage invoices and navigate the complexities of tax compliance globally. Taxation becomes even more convoluted for enterprises operating across multiple countries with varying tax regulations. Ad...

Read more

eInvoicing: Kefron launches global eInvoicing and digital tax compliance solution

Read time: 3 minutes

NewsInvoice Automation

We are thrilled to unveil Kefron AP, our cutting-edge Global eInvoicing Solution, expertly engineered to navigate the intricate landscape of Digital Tax Compliance across a multitude of jurisdictions. Navigating the eInvoicing Challenge As tax author...

Read more

France’s B2B E-Invoicing Initiative Sees a Delay

Read time: 5 minutes

BlogInvoice Automation

French Rollout Pushed Back for Compliance Alignment The French Directorate General of Public Finances (DGFiP) has formally announced a deferral of the France e-invoicing mandate for B2B operations as of 28 July. This strategic delay aims to offer tax...

Read more

Introducing the Kefron AP Analytics Dashboards: A New Era in Finance Reporting

Read time: 4 minutes

NewsInvoice Automation

Explore the next-generation of AP analytics with the Kefron AP Analytics Dashboard. As AP processes evolve, the demand for detailed finance reporting, invoice analysis, and AP analytics tools grows. Our dashboard is crafted to offer real-time insight...

Read more

Why Oracle Fusion Users are Ditching Oracle Intelligent Document Recognition

Read time: 4 minutes

BlogInvoice Automation

The world of accounts payable (AP) and invoice management is witnessing a pivotal transformation. A wave of change, anchored by the partnership between Oracle Fusion and Kefron, is ushering in a new era of efficiency and streamlined operations.   B...

Read more

Kefron and Oracle Fusion – New Integration for Optimised Invoice Processing

NewsInvoice Automation

Kefron launches a new ERP integration between Kefron AP and Oracle Fusion. As a certified Oracle Fusion Partner, Kefron specialises in providing seamless invoice processing, reducing manual effort, and mitigating risk of errors through intelligent da...

Read more

Get the Most Out of Accounts Payable with ChatGPT

Read time: 5

BlogInvoice Automation

ChatGPT is an invaluable tool, there’s no doubt about it. From generating ideas to analysis, it has endless uses. But did you know you can use it to streamline your Accounts Payable (AP) process?  In this article, we’ll explore 7 ways Ch...

Read more

Get in touch

Ireland
53 Park West Road
Dublin 12, D12 F8RK
T: +353 (0)1 438 0200

Connect with us

TwitterYouTubeInstagramLinkedInFacebookVimeo

  • Privacy Statement
  • Terms And Conditions
  • Sitemap

© Copyright 2023 Kefron. All Rights Reserved

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies.

Cookie Settings Accept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
Save & Accept