It is a privilege to pen our first blog as Avetta, an evolution of PICS Auditing. As a company, Avetta was uniquely created to connect the world’s leading organizations with qualified suppliers, driving sustainable growth.
Avetta exists today because our founders, John Moreland and Jared Smith, created a new, revolutionary space more than a decade ago. It combined technology with health, safety, procurement, and sustainable business practices. Their platform ensured that only the safest, most qualified contractors and suppliers made it onto our clients’ jobsites. It was innovative. It was disruptive. It saved lives. Today, we call it supply chain risk management.
The reason for our name change is not complicated—we’ve simply outgrown the “PICS Auditing” name. We’ve seen unprecedented acceleration in our innovation, growth, and performance—and today we do so much more than offer auditing, health and safety services, or prequalification. Today, as Avetta, we’re simply building on the legacy in which we’re immensely proud, in order to deliver long-term growth and sustainability to our clients, contractors, suppliers, and partners.
What does Avetta mean? At the heart of our business, we “vet” suppliers, contractors, and opportunities. We deliver this through adaptive technology and human insight. The “Avetta” name encompasses these core values.
A Global, Greenfield Opportunity
I’m ecstatic to be with Avetta during this time of rapid expansion and market opportunity. In fact, this is the biggest opportunity I’ve seen since my time at eBay. With eBay, I saw the company grow from $400 million to $6 billion in revenue. Today, at Avetta, the industry may be different, but the feeling and projected growth numbers are remarkably similar. In fact, third-party analysts agree that our total addressable market (TAM) sits at $10 billion. That’s a figure I’m very confident and excited about.
Why such a high number? Organizations that currently attempt to de-risk their supply chains in-house won’t be doing so in the future. It simply won’t make sense to take on such risk, or dedicate the internal resources required to manage a diverse stable of suppliers. This is especially true with today’s strict, ever-changing regulatory and compliance standards. Through our SaaS-based platform, Avetta enables clients to offload that risk and burden so they can focus on their core business.
As for our tangible data, Avetta is fortunate to have 300 enterprise clients and 50k active suppliers in 100 countries worldwide. Our integrated platform saves lives, enhances safety, and mitigates risks for our customers every day across the global supply chain. This is a true, worldwide, greenfield opportunity.
A Living, Breathing Blog
The future of this blog is less about us, and more about you. Like our technology, it will be adaptive and responsive. This blog will explore how current industry trends and events impact you. We’ve already lined up industry experts to write about what they know best. Here’s a preview of what’s ahead:
- How current events affect our customers
- Real-life success stories
- Supply chain risk management trends
- Original thoughts from subject matter experts
- Technology, features, and product launches
- Reports from the most relevant conferences and events in the industry
- Response to trending topics
- Answering questions that everyone is asking
- And much more!
No matter how you are connected to our global organization, I thank you for being a part of the Avetta family. Without you, there is no growth, innovation or sustainability.
Together, we are building the connections that build the world.