How can the use of Cloud Accounting software help save our planet?

The switch to paperless working is a key development in reducing reducing carbon emissions

With much of the focus recently on COP26, we are aware of ­the challenges our planet faces and the challenges ahead if we don’t act now. But is there more we can do as businesses to ensure we are ‘doing our bit’ for the environment?

We know that cloud accounting can help you access your financial data in real time, as well as streamlining business processes, but did you know it can also help reduce your carbon footprint?

When discussing the benefits of using cloud accounting software, one area that often gets forgotten about is the environmental benefit. With businesses looking to adopt more eco-friendly methods to demonstrate their commitment towards Corporate Social Responsibility, the use of cloud accounting software can help reduce the environmental damage, as well as improving company image and attracting investors. So how does this work?

Firstly, when switching to cloud accounting software, you are reducing your carbon emissions by essentially consuming less electricity (more on this later). The reason for this is due to using fewer servers and by using it more efficiently, whereas local servers would require managing as well as processing the data which leads to increased carbon emissions.

Secondly, by using online software you will be moving towards a paperless system which will allow you to change your financial processes to ensure you are using the software in the most efficient way. We are aware of the environmental impact of printing and overusing paper, however cloud accounting software ensures your invoices for example, are sent digitally via email, therefore reducing paper usage and allowing you to take advantage of the benefits of digital accounting. With many financial tasks now capable using online software, it has become a lot easier for businesses to move towards paperless systems.

One of the main contributors to CO2 emissions across the world are cars, but businesses can help minimise their employees commute and emissions by using cloud accounting software from home. The COVID-19 pandemic gave us a real example of how finance teams can continue to undertake their roles while working from home, if equipped with the right software. Due to its nature, cloud accounting software can be accessed from anywhere in the world with an internet connection. Therefore, it can be used in collaboration with many other communication and financial apps to ensure that staff can work from home and still collaborate with their team members and stakeholders. The use of online software, therefore, allows businesses to reduce transportation emissions by utilising software that is cloud based and therefore eliminates the need for teams to be working in offices and travelling unnecessarily.

Finally, did you know that using cloud accounting software can help reduce your electricity usage? Whilst conventional hardware systems require power sources, a large amount of upkeep and cooling facilities, moving towards cloud software can help you save money on energy. Through using software which is run on remote servers and stores data in the cloud, you can drastically reduce your energy usage by moving to the cloud. This not only reduces your electricity bill, but also helps reduce your energy consumption.

There is no doubt that businesses can use cloud accounting software to drastically reduce their carbon emissions and energy usage. There will undoubtedly be greater focus on how businesses can do more to curtail climate change and global warming concerns, but by starting to look at the accounting software and processes being used at present, it can easily be moved to a greener future with the level of advancements in cloud technology.

If you would like to discuss how cloud accounting can help your business, please contact us.