JPMorgan's Tips on Transitioning to a Paperless Corporate Treasury Operation
JPMorgan has released a guide to help corporate treasury operations reduce paper and work towards a sustainable future. ‘Sustainable Treasury Management: It’s Easier Than You Think’ examines each component of treasury operations from cash and receivables collection to disbursements processing and storage of reports, as well as other financial and customer data-and outlines best practices that are good for business and good for the environment. Each section presents specific case studies that demonstrate the benefits of electronic treasury solutions.
The report also introduces function-specific eco-analysis worksheets that can help corporate treasurers calculate the benefits of going green.
Migrating to electronic treasury processes can have a measurable impact on a corporation’s carbon footprint as large treasury operations can easily generate 5.5 tons of paper each year – the equivalent of 143 trees and 106 tons of greenhouse gasses. Since JPMorgan Treasury Services’ ‘Go Green’ campaign began in 2007, the bank has helped treasury clients eliminate more than 101 million paper documents and save three million pounds of paper annually.
“Today’s economic climate is making it even more essential for treasury departments to go green,” said Gregory Long, vice president, JPMorgan Treasury Services. “Many face tremendous pressure to trim costs, operate more efficiently and improve customer service. Electronic solutions help businesses automate workflow, give them instant access to financial data and eliminate the costs and risks of producing and storing paper.”