AvidXchange Releases Annual ESG Report
14 Juin 2023 - 3:00PM
AvidXchange Holdings, Inc. (Nasdaq: AVDX), a leading provider of
accounts payable (AP) automation software and payment solutions for
middle market businesses and their suppliers, today released its
2022 Environmental, Social and Governance (ESG) Report. This report
highlights the company’s commitments to ESG, how these commitments
tie back to the company’s core business and how the company
delivers value to its stakeholders.
“AvidXchange was founded over 20 years ago with a mission to
solve complex accounts payable problems for our customers,” said
Michael Praeger, Co-Founder, Chairman and Chief Executive Officer
of AvidXchange. “Today, we have deep roots in the business
community, but we know that position is only as strong as the
communities we serve. From every corner of AvidXchange, our
commitment to ESG is apparent in the way we solve problems,
innovate and strive to be better every day.”
Highlights from the report include:
- Environment
- AvidXchange’s technology removes
paper from its customers' daily work streams through the
digitization of processes. With 8,000 buyer customers, and payments
made to 965,000 supplier customers over the past five years, this
impact is significant.
- Based on paper reduction alone, in
2022, AvidXchange saved the equivalent of 4,600 trees and 4.1
million gallons of water. Additionally, it helped avoid 3.4 million
pounds of carbon dioxide emissions and 226,000 pounds of solid
waste.
- The company works with its teammates
to drive environmental sustainability initiatives in the daily
operations at its Charlotte headquarters and regional offices,
creating buy-in that sustainability is every teammate’s
responsibility. This is done through programs such as:
hybrid/remote work, energy & water consumption reduction, the
AvidXchange green team, waste management initiatives and a
sustainable procurement policy.
- Social
- The AvidXchange Foundation serves as
the company’s legs in the community, enabling corporate
sponsorships and teammate volunteer activities, where teammates can
use 16 hours of paid volunteer time off annually to participate in
community projects and programs.
- When AvidXchange debuted as a public
company in 2021, it pledged to invest 1% of its issued and
outstanding shares of common stock over 10 years to fund community
service efforts. This program ensures that as AvidXchange achieves
success, it brings its communities along with it.
- AvidXchange has outlined a four-part
strategy to further its progress for DI&B, celebrating its wins
and achievements while also actively building bridges to unite its
teammates, customers and communities in feeling the power of
connection and a true sense of belonging.
- Governance
- AvidXchange is committed to business
practices that are ethical, transparent and accountable. Through
board diversity, annual compliance reviews and ensuring ethics and
anti-corruption standards are met, these practices provide the
foundation for long term value generation and the company’s ability
to meet its environmental and social objectives.
“AvidXchange has built an organization that is teammate-focused,
environmentally conscious and operates under the highest business
standards,” said Rob Phocas, Director, Corporate Social
Responsibility at AvidXchange. “We’ve worked hard within our
organization and within our community to ensure that we’re making a
real impact – and we’re excited to share where we are in our ESG
journey.”
To learn more, visit:
https://www.avidxchange.com/about/avidxchange-foundation/
About AvidXchange® AvidXchange is a leading
provider of accounts payable (“AP”) automation software and payment
solutions for middle market businesses and their suppliers.
AvidXchange’s Software-as-a-Service (“SaaS”) based, end-to-end
software and payment platform digitizes and automates the AP
workflows for 8,800 businesses and we have made payments to 965,000
supplier customers of our buyers over the past five years.
Additionally, AvidXchange, Inc. is a licensed money transmitter
for US B2B payments, licensed as a Money Transmitter by the New
York State Department of Financial Services, as well as all other
states that require AvidXchange to have a license.
To learn more about how AvidXchange, and its publicly traded
parent AvidXchange Holdings, Inc. (Nasdaq: AVDX), are transforming
the way companies pay their bills,
visit www.AvidXchange.com.
Forward-Looking Statements This press release
may contain “forward-looking statements” within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995. In this
context, forward-looking statements generally relate to future
events or our future financial or operating performance and often
contain words such as: “anticipate,” “intend,” “plan,” “goal,”
“seek,” “believe,” “project,” “estimate,” “expect,” “future,”
“likely,” “may,” “should,” “will” and similar words and phrases
indicating future results. The information presented in this press
release related to expectations of future performance,
opportunities for future growth, as well as other statements that
are not purely statements of historical fact, are forward-looking
in nature. These forward-looking statements are made on the basis
of management’s current expectations, assumptions, estimates and
projections and are subject to significant risks and uncertainties
that could cause actual results to differ materially from those
anticipated in such forward-looking statements. We therefore cannot
guarantee future results, performance or achievements. Factors
which could cause actual results or effects to differ materially
from those reflected in forward-looking statements include, but are
not limited to, the risk factors and other cautionary statements
described, from time to time, in AvidXchange’s filings with the
Securities and Exchange Commission (“SEC”), including, without
limitation, AvidXchange’s Annual Report on Form 10-K and other
documents filed with the SEC, which may be obtained on the investor
relations section of our website (https://ir.avidxchange.com/) and
on the SEC website at www.sec.gov. Any forward-looking statements
made by us in this press release are based only on information
currently available to us and speak only as of the date they are
made, and we assume no obligation to update any of these statements
in light of new information, future events or otherwise unless
required under the federal securities laws.
Contact Olivia Sorrells
osorrells@avidxchange.com 386-848-3656
AvidXchange (NASDAQ:AVDX)
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