Creating Success in Sustainability
Updated: Oct 5, 2020
In a world that increasingly judges business on their sustainability performance, business leaders must look to more-fundamental drivers—particularly strategy—to achieve real results and be rewarded.
Industry research points to the need for a new management paradigm for corporate leaders—one in which they embed sustainability considerations in both strategy and operations. Pursuing this work isn’t about sustainability ratings per se—it’s about integrating environmental and sustainability to create alternative forms of competitive advantage.
And since this involves fundamental strategic and operational choices, it can’t be left entirely to the investor relations team or the sustainability department. Instead, it must be a priority for the CEO and top executives and become central to the firm’s culture.
While complexities surround this shift, the barriers to success will continue to increase over time. Without the foundation of a firm plan in place now, it may be more challenging to find success due to mounting pressures from:
BUDGET CONSTRAINTS Companies without a proactive plan may find their future ATM asset management needs prohibitively more expensive. By pre-planning the control of your ATM assets, companies can proactively dictate their needs and necessary budget allocations to complete the workload. INTERNAL PRESSURES As technology needs evolve, proactively planning for the removal of retiring technology-based assets, such as ATM's, – securely and sustainably – is critical. Each year, the expectations placed on corporate sustainability departments increase with a higher demand for transparency and environmental responsibility. LOCAL JURISDICTIONS Even the most experienced organizations are challenged by increasing security and environmental concerns, a growing number of business processes, and an extensive list of regulations associated with tech-based systems removal. Federal and local jurisdictions are continually updating and revising the rules surrounding these assets. DATA SECURITY Data security is a critical part of every asset retirement process, and businesses must ensure that all information is overwritten or that the asset is: • Cleared using industry-standard data eradication methods • Destroyed using high-power magnetic degaussing • Destroyed using physical shredding of recording media
For many industries, adopting more sustainable practices could be particularly lucrative. The best part of transitioning for these industries is that businesses do not need to rethink their entire model. Often, the process involves tweaking and making adjustments to existing practices.
If you'd like to learn more, subscribe to our blog or check out our Deep-Dive Series on Sustainability. We’ll keep these sources regularly updated with tips and information to help you get the most out of your ATMs.
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