timc blog

Green Economy by Going Green

by Unik Dhandhi, Wednesday, June 06, 2018

Going green deals with making more environmentally friendly decisions that cater to ‘reduce, recycle, and reuse’ of the products. Everything around us plays an important part in keeping the environment clean and safe. Wherever you go, people talk about going green and how it impacts the planet. From plastic bags to chemical products, new and innovative ideas are added every now and then in order to make the economy work towards going green.

24 trees are needed to be cut to make one ton of non-recycled printing and office paper

10 litres is the amount of water used to make a single sheet of A4 paper

10 lakh tonnes of paper imported by India last year

10.6 per cent increase in India's per capita consumption of paper this year

The above mentioned figures clearly indicate the large amount of dependence of the Indian market on paper. Small to large business firms all across the country utilize huge amount of sheets of paper to carry out purchase orders - invoices are on paper, delivery receipts are on paper and even the payment reminders are on paper.

Time to go green,go paperless!

A step towards going sustainable is through the digital World. Digital payments are now mainstream due to the recent financial reforms that India has witnessed. Online transactions have increased, and cash transactions have reduced. Banks too, have adopted green practices such as paperless services, eco-friendly initiatives like internet banking or mobile banking, and promoting online banking instead of branch banking in order to help reduce the carbon footprint.

Digital payments have been important in bringing about a paperless revolution in India, by reducing the heavy usage of paper by businesses. Automating and digitising most of the day-to-day processes are possible through smart invoicing and easy payment reminders. Digital payments have proved beneficial for both businesses and consumers.

Besides helping to save the environment, going paperless with financial transactions is actually good for businesses. It is because:

Better savings

Going digital eliminates the costs associated with printing or faxing. Moreover, shipping costs are reduced when businesses no longer need to send documents overnight for signatures. By automating business processes and transitioning to more eco-friendly solutions such as digital documents, email and technology can reduce costs.

Better reach

Digital payments offer a faster, easier way to share invoices digitally to any part of the World, and also make the process more safe and secure.

Going green can make a big difference in how an individual perceive the world around them. Taking a few small steps at the right time can make a big impact on the people and the World.

Stay tuned for more What the Fact updates.

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