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Avetta Wins 2022 Risk Management Company of the Year Award

By Avetta Marketing
July 25, 2022
4 minutes

Tech Breakthrough honors Avetta One for managing risks and providing a powerful tool to help companies meet ESG goals

OREM, Utah, and HOUSTON—July 25, 2022—Avetta®, the leading provider of supply chain risk management (SCRM) software, has been named the 2022 Risk Management Company of the Year in Tech Breakthrough’s SupplyTech Breakthrough Awards. Tech Breakthrough considered more than 1,200 total nominations in all categories from around the globe before honoring the Avetta One™ Platform as a single-source solution to managing operational, reputational and regulatory compliance risks.

“This award is a great milestone on how far we have come to help companies keep employees safe, reduce risks and ensure sustainability,” said Arshad Matin, Avetta President and CEO. “But we also look at this honor as a challenge to keep doing more for our clients and their employees.”

Avetta is the only supply chain company with an ESG scoring system that considers individual company goals and global standards in 20 industry trades. Key features that help companies to simplify their ESG compliance include:

1) Scoring ESG maturity: Avetta provides analytics reports to help organizations determine which suppliers apply to which ESG requirements based on company goals, multiple standards and codes of conduct.

2) Accurately measure and remediate ESG compliance: A scorecard showing the status and progress toward improvement enables companies to accurately measure and quickly remediate ESG compliance issues, reducing immediate risks while achieving long-term goals.

3) Enable data-driven decisions: Avetta’s platform leverages detailed analytics to target areas of concern, highlight achievements, and facilitate better corporate reporting and ongoing development of ESG and sustainability performance.

Avetta One uses almost two decades of data from millions of collected data points to provide real-time views on risks and delivers alerts on deviations from baseline measures. It has been proven to reduce supply chain accidents and environmental incidents by 40% to 70% compared to industry averages. Customers and their suppliers also improve 7-8% per year and reduce administrative expenses by 75%.

Besides Avetta winning the Risk Management Company of the Year, the awards program honored other companies in 16 supply chain related categories.

About Avetta

The Avetta SaaS platform helps clients manage supply chain risk and their suppliers to become more qualified for jobs. For hiring clients in our network, we offer the world’s largest supply chain risk management network to manage supplier safety, sustainability, worker competency and performance. We perform contractor prequalification and worker competency management across major industries, all over the globe, including construction, energy, facilities, high tech, manufacturing, mining and telecom.

For suppliers in our network, our audit and verification services help lower their safety incidents rate by 29%. As a result, nearly 50% of members find additional job opportunities within the first year of joining. In addition, our suppliers receive privileged access to the Avetta Marketplace, where dozens of partners offer special discounts for business services like insurance and work gear. Avetta serves 500+ enterprise companies and 125,000+ suppliers across 120+ countries.

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