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Sustainability

CORTEX HELPS COMPANIES GO GREEN

We are helping our clients move from the paper world of invoicing to electronic automation and workflow to reduce the number of paper invoice documents from floating around the office. As a result, the process becomes more visible and transparent to our client while helping them meet their sustainability and environmental goals.

Our goal is to assist companies in achieving their sustainability goals which may include reducing carbon emissions, paper wastage, and their environmental footprint. We are raising the standard for invoicing by taking the process electronic. We work with both the buyer and supplier by creating a connection between their systems to allow for electronic transacting. We provide easy to use solutions and services to help our clients achieve the highest standard of sustainability.

It is stated, by Aberdeen in their 2010 Invoice and Workflow report, that 72% of all received invoices are still paper based and 58% of the enterprises have manual processes for indexing and approval. They estimate the cost to process an invoice to range from $5 to $25 per invoice dependent on the maturity and automation of the process. Not only will Cortex help reduce a company's environmental footprint, but we will also help them achieve an optimal electronic invoicing process.

If 200,000 sheets of paper equal 1 ton, Cortex can save up to 30 tons or 510 trees for every 6,000,000 sheets of paper not printed. Now, if every invoice produces 3 pages for backup and copies for the 3 parties involved in the transaction, that equals 12 pieces of paper for one invoice. According to Wells Fargo Electronic Payment and Invoicing article, there are 13 billion invoices exchanged each year in the US. As a result, there is approximately 156 billion pieces of paper used to invoice, equating to over 3 million pounds, 150,000 tons of paper or over 3.5 million trees.

Assumption:
1) 1 ton of coated, higher-end virgin magazine paper (used for magazines like National Geographic and many others) uses a little more than 15 trees (15.36).
2) A "pallet" of copier paper (20-lb. sheet weight, or 20#) contains 40 cartons and weighs 1 ton.
3) 1 ton of recycled paper saves 17 trees.
Source: www.conservatree.org/learn/EnviroIssues/TreeStats.shtml