TSMC’s “Green Contract Management System” Saves 72,000 Sheets of Paper Annually
TSMC is dedicated to generating sustainable innovations. To become more environmentally friendly and to improve contract processing efficiency, the Company formulated and implemented the four-pillar strategy PAID to create the “Green Contract Management System”. The system streamlines overall operational processes and connects existing customer and supplier registration mechanisms, effectively allowing TSMC to simultaneously protect the environment while benefiting all parties involved in the process. As of March 2023, a total of 1,100 customers and 1,400 suppliers have completed transitioning to signing paperless contracts. This translates to an average of 72,000 sheets of A4 paper saved every year, carbon emissions reduction of 5.4 tons, and a 97.5% increase in contract processing efficiency. Through this, TSMC and the industry strive to become even more environmentally sustainable together.
Keeping Contracts Soaring through the Cloud with Digital Green Management
In light of the complexity of conventional paper contract processing, TSMC began driving the “Contract Management Digitization & Innovation Initiative” in 2014 by instilling green culture into the legal department’s daily operations. Contract management system and services were enhanced by utilizing the four strategic pillars of PAID─Paperless, Automation and App, Intelligent Informatization, and Digital Transformation─resulting in improved operations efficiency. Additionally, the “Contract Finder App” was developed in tandem to grant users the ability to manage their workload in real time and on-the-go, achieving the environmentally friendly goal of keeping contracts digital.
TSMC’s Green Contract Management System
Contract Finder App User Interface
TSMC continues to optimize the Green Contract Management System as well as other diverse, innovative services in order to amplify its human capital and resource utilization effectiveness. TSMC expects to further save another 10% of the A4 paper used for all contracts and reduce carbon emissions by another 1.75 tons annually. In addition, upholding its values of spreading the common good through co-sustainability, TSMC will share its journey in contract management system digitization and innovation with the public. By encouraging more enterprises to adopt green innovations, we can inject another dose of sustainable momentum into contract management and legal services.
With the concept of environmental protection in mind, through continuous optimization of contract management, and making good use of information technology and digital transformation to bring synergy of intelligence and system integration, through the innovation of legal services, we can implement the vision of sustainable operation.