If you were to ask most people about recycling and waste management over the past 50 years or so, you would probably get a response something akin to, “recycling is good for the environment and seems to be the right thing to do.” This would be a typical mainstream response from apolitical people making general commentary around the matter and this – to many – seems about right. (In recent years, the matter has become more politically charged but that is not the focus for this blog.)

Yes, on its face, this type of sensibility surely resonates with most, but what is less likely to come top-of-mind and gain consensus-like traction is the notion that proper recycling and waste management best practices is also a very practical and money-saving endeavor. It is and this is good news for all.

The good news here is that developed countries realize that prudent financial practices and environmental standards do not necessarily have to be at odds. In fact, with proper societal support and inputs from knowledgeable authorities both within the business and governmental sectors, societal choices can made to properly steward sound financial and environment choices relative to waste management. 

These choices are not mutually exclusive as once thought. We can align our thinking around pursuing both aims in tandem: we can save money with more thoughtful waste management practices and serve reasonable and worthy environmental goals at the same time.

Expense Management | Waste Management & Management of Things™

At Tellennium, we realize that alongside traditional enterprise business expense management best practices, there needs to be continued focus on forward-thinking around the area of waste management as we move deeper into the 21st Century.  This is an area ripe with opportunity and poised for explosive growth.

Other expense areas such as Utilities and Waste Management costs need to be effectively managed in a controlled manner as well. These other areas of cost would fall under what Tellennium refers to as the Management of Things ™ (MoT™), and therefore also to be included in a sound and sensible Enterprise Expense Management program.

The Importance of Waste Reduction for Business

Taking steps to reduce waste can generate the following positive outcomes highlighted below:

How to reduce-reuse-recycle:

Reducing Waste ProductionThe most direct way to cut your disposal costs is with source reduction; that is, by reducing the amount of waste your business produces. You have less to get rid of if you purchase and discard less material. By analyzing your business’ waste stream, you will probably discover that you can eliminate much of the waste your business produces.

Reducing Waste MaterialsA cost-efficient method of reducing waste is to reuse products in their present form. It is usually cheaper to clean or repair products so that they can be reused rather than to buy new or recycled ones.

Recycling: Many of the products that cannot be eliminated or reused can be recycled. Energy and natural resources are saved, and environmental pollution is reduced when products are made from recycled rather than new materials. Your business can also cut disposal costs greatly by recycling.

Summary

It is never too late to learn, save money, and generally do the right thing so we look forward to covering this important area of expense management and Management of Things ™ (MoT ™) in greater detail in our next blog.

In Part II of this Reducing Waste blog, we will explore the area of waste management with more input regarding:

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