Green Initiatives

Essay by yayayeoUniversity, Bachelor's February 2010

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In today’s business world going green seems to be a popular phrase. It helps lower inventory cost and helps the planet. Most organizations that are going green are doing it not only to improve the bottom line, but also to have a positive image. Lorenz Fiduciary Services Inc has been going green for the past three years. Every new process or plan put in place has been done to improve efficiency and go green. This paper will inform the reader on the initiatives of going green and what is the driving force behind the initiative, and also ISO protocols.

Lorenz Fiduciary Services (LFS) has been in business for the past 37 years. LFS is an accounting firm that also does fiduciary and trust work. Due to the business type paperwork has been one of the major costs in the past. Trust documents must be organized and kept in filing cabinets.

Tax returns for the clients must be kept along with all financial documents for at least seven years. Bank statements, financial statements, checkbooks, client folders must all be kept up to date and organized. To keep all these files up to date and organized LFS spent thousands of dollars each year on printing the documents and storing them. The biggest portion of the budget was spent each year on space, paper, and ink.

The new green initiative started three years ago for LFS by management. The first step taken was to eliminate as much paper waste as possible. LFS purchased two Tera Stations that have two terabyte capacity each. LFS also bought a server to have access to all of the data where ever and when ever. The financial documents are now safe and secure on the Tera Stations. LFS employees no longer need to print out statements, trust documents,