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2013/12/20

Leveraging NetSuite to 'green' your business

Over the last few years, the interest in “greening” among the business world has grown exponentially. As the recognition of the impact of human activity on the planet has increased, the call for change and greater corporate social responsibility (CSR) has been demanded of companies by society, employees and consumers.

More and more companies are responding this call, realizing not only that their actions can have a positive impact on the planet and society, but also that by acting more responsibly towards the planet and their communities, they can generate greater business value.


To illustrate this point from a high-level, simplified standpoint, let’s say that from a basic economic point of view that pollution is waste, and waste costs money.

Greening, however, is not just about saving money; it’s about creating value not only for your business, but also for those around it (society, consumers etc). Acting more responsibly can be highly beneficial for your business.

There are many studies and testimonials on the benefits of greening and CSR, but justifying this is beyond the scope of this post. A simple search on the Internet will give you enough results to support this growing trend.

Now, you might be wondering: ‘Where can I find tools to support my green initiatives?’ Perhaps you feel that you (or your company) do not have the necessary tools to carry out green initiatives and practices, whereas the reality is quite different.

"What?"

Well yes. The tools you or your business already have at your disposal may come in handy to support your green initiatives.

Let’s step back a bit and think about it for two seconds...Why do you use NetSuite?

Perhaps it’s because it’s a powerful tool that:
  • Elevates productivity, through real-time access to critical business data, anywhere, anytime;
  • Drives decision making with personalized dashboards;
  • Improves accountability and compliance with strong traceability;
  • Equips you with the visibility you need to make better, faster decisions;
  • Arms your finance team with real-time, role-based dashboards and summary to detail financial analytics, scorecards, and reporting to accelerate your financial close.
And so on…

Now, if NetSuite allows you to do all of this as part of your daily activities, why not use these extensive capabilities to propel your green strategies?

For example, NetSuite can allow you to track, monitor, report and communicate your green indicators.

So you could very well leverage NetSuite’s capacities to:
  • Improve decision-making on environment-related topics through better information
  • Keep track of your environmental performance
  • Measure the effectiveness and efficiency of your green initiatives

And much, much more...

‘But what is the link between my business strategy and my green strategy?’ , you may ask.

The logic is quite simple. To make sense, a green initiative should make sense for your business. By that, I mean that to make sense, the green objectives you pursue must be aligned with the context of your company and your business strategy. As such, the green strategy to advocate is the one that will not only have a significant positive impact on the planet, but also that does not compromise the profitability of your business, and may even allow it to optimize economic returns or positive brand image. In short, a win – win strategy.

Sounds simple, but in practice this is a bit more complicated. Knowing what’s best for the environment and your business might not be self-evident and may require a little bit of thinking. But once you are settled, you are ready for action... or almost!

So the first step would be to define your strategy and identify the relevant indicators. Then, you need to actually measure yourself – gather the data on these indicators .This is where NetSuite comes into play; You can record that information on custom records and then use NetSuite’s advanced capabilities to analyse and report upon this data.

In this blog post, I have given you a very high level overview of how you can leverage NetSuite to support your green initiatives.

This was meant simply as an illustration... and maybe also to fuel your appetite. Next step would be to present a use case in NetSuite, which will be the subject of an upcoming blog post.


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