The ROI of Toxnot

Aug 31, 2021 2:13:25 PM

Supply Chain, Product Compliance, Sustainability

Sometimes it seems like there is a new product on the market every day, promising to solve a critical problem that your company might face. Before you know it, you have a stack of five to ten products and endless tabs open on your computer’s browser. Not only can this be overwhelming, but also highly inefficient. Toxnot has prioritized being an all-in-one platform for sustainability, compliance, and supply chain management at a competitive price to make your ambitious world-saving initiatives that much easier!

Wondering what the return on investment, or ROI (the profitability measure that evaluates the performance or efficiency of an investment in the form of returns or benefits), on something like Toxnot might be? Here we try to capture that information in a few short paragraphs to help you better understand Toxnot’s benefits for your company.

Save Time & Money

First and foremost, it is important to understand if the money you put into Toxnot will come back to you via the returns it provides, and the answer is certainly a yes. Not only does Toxnot pay for itself, but it can also help you save tens of thousands of dollars through time savings. Toxnot allows you to store all your supply chain and product data to streamline supply chain outreach, sustainability reporting, and product compliance. This means hundreds of hours (or more) per year saved, equating to over $70,000 in many cases. On top of time savings, having a central database with consistent data means higher quality data as well, providing peace of mind that your deliverables are reliable.

Want to learn more about the savings Toxnot can provide? Use our Cost of Savings Calculator to discover how much you can save!

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Proactively Drive Sales

For most companies, sales and profit are the highest priority as you run and grow your business. Toxnot can help your sales team become faster, more efficient, and allow them to answer potential client questions and requests more easily. With the centralized information and reports that Toxnot provides, sales teams can respond to potential clients in record time, further proving to your customers that you’re committed to transparency and sustainability. Teknion, a long-time Toxnot customer and leading furniture manufacturer, is living proof of this. Previously, clients would request sustainability reports and it would take several weeks to be able to gather the information needed and generate the document. After using Toxnot, Teknion can get back to those clients in days (sometimes even hours). This ability has made all the difference for their sales team, setting them apart as a disruptor in the furniture industry.

Being on the frontlines of sustainability and compliance has the potential to change the trajectory of your company’s success. The opportunity cost of planning ahead with less current competition is ripe with potential. Toxnot can be the tool that helps you seize this opportunity, all in one place - a true game-changer in helping you seal your deals.

 

Design for Circularity & Mitigate Long-term Risk

In the world of sustainability, talk of circularity and/or circular economy is on everyone’s mind. The circular economy is a framework centered around the goal of eliminating waste and promoting the continual use of resources. Essentially, circularity is an embodiment of the phrase, “one person’s trash is another person’s treasure,” and applying wherever possible. According to the Ellen MacArthur Foundation, an ideal circular economy would design out waste and pollution, keep products and materials in use for as long as possible, and make efforts to regenerate natural systems. By using Toxnot, you can make strategic decisions to help get closer to circularity while also reducing risk through those efforts. Brand risk, price volatility risk, supply chain risk, and regulatory risk are all things that can be managed and mitigated by circularity. Toxnot can help protect your brand through robust product data, tracking pre- and post-consumer substances, and storing compliance determinations. There is a slew of corporate benefits in addition to the global benefits of a sound circular economy.

If you would like to learn more about circularity and how it can provide significant ROI, check out 5 ways to reduce risk through circularity and the ROI of sustainability.

 

Automate Product Compliance

Product compliance is a task that can plague businesses that are not prepared to tackle it. Compliance means ensuring that a product meets all the regulatory obligations that apply to it. These obligations vary based on the nature of the product, the regions in which it is sold, and a variety of other factors. Some of the compliance regulations include California Proposition 65, REACH, RoHS, and Conflict Minerals. Each of these regulations has tens to thousands of substances on their restricted substance lists and are subject to change at any time. The specifics of these regulations can be quite conditional, making them harder to manage. Toxnot can alleviate the stress and complexity of managing compliance by doing all the leg work for you. There are nearly 100 regulatory and restricted substance lists in Toxnot, all of which are maintained on a bi-weekly basis so you don’t have to – these lists include all of the compliance regulations previously mentioned. What does this mean for you? No more spreadsheets and manual checking. With product bill of material data or supplier compliance data, Toxnot can screen against your entire library of data to see which products are or are not compliant. With Toxnot’s compliance features you can sit back and relax knowing that you’re saving time all while having done your due diligence as a product manufacturer.

 

Customer Success, from us to you

With everything else said, let’s take a moment to recognize that sustainability, compliance, and supply chain management are hard, especially if you’re at the forefront of these initiatives in your company. Toxnot is happy to provide customers with support to help guide you through your difficult questions and unique use cases. The level of support provided by the Customer Success team at Toxnot is surely unmatched. When a customer joins Toxnot, a dedicated Customer Success Manager will provide customized onboarding to ensure that they feel comfortable with the platform and get the most out of their subscription. There is also an in-app chat on the Toxnot website. Users can write in with their questions and get a response back from the Customer Success team within five minutes. The value provided via support can be yet another way that Toxnot helps you save time, giving you the strong start and expertise needed to be successful. Not many things can be promised in an ever-changing world and industry, but Toxnot can promise that no customer will ever feel like they’re alone in their efforts because they know someone at Toxnot will always be there for them, willing to answer their challenging questions. Check out our Customer Success page to learn more.

 

A User Guided Platform

Toxnot is always listening, strategizing, and making updates in the best interest of our customers. We are not static, but ever-evolving to meet our mission and that of our customers. Our customers love to use Toxnot because their input is our #1 priority. It's why our platform is one that actually functions for actual workflows that will drive results more quickly.

Interested in learning more about everything Toxnot can offer your team? Start by watching our How Toxnot Works video! Next, sign-up and explore with a free account. When you're ready to dive in further, one of our team members is waiting to show you a personalized demo of Toxnot's solutions full capabilities and how we can help scale your business thoughtfully together.

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