Better Health for All

The provided articles focus on AvidXchange's financial performance, corporate events, and accounts payable automation software. While the company serves the healthcare industry, its core offerings are financial process automation, not direct health products or services.

The articles explicitly state that no data relevant to the "Better Health for All" metrics is present. Consequently, there is no evidence to score any of the KPIs under this ethical value.

Fair Money & Economic Opportunity

AvidXchange Holdings, Inc. provides accounts payable automation software and payment solutions for middle-market businesses and their suppliers. The company's core business does not involve offering lending or deposit services directly to consumers. Therefore, KPIs related to consumer financial products, such as underserved client share, pricing fairness, exploitative fee exposure, inclusion initiatives (loan/insurance book), wealth-building outcomes, debt burden ratio, and product simplicity, are not applicable to its business model. While the company is a licensed money transmitter,

there is no evidence of it being regulated as a lender, making fair lending compliance not applicable. The company's philanthropic activities through the AvidXchange Foundation, including volunteer hours and community engagement, are not directly tied to financial literacy programs as defined by the KPI. Similarly, there is no evidence regarding profit reinvestment in community finance or geographic inclusion of financial service access points.

Fair Trade & Ethical Sourcing

AvidXchange, as a provider of accounts payable automation software and payment solutions, does not procure or trade physical commodities. Therefore, the KPIs 'fair_trade_cert_share', 'materials_risk_index', and 'traceability_coverage' are not applicable.

Similarly, given the nature of its business, the company does not have a supplier base requiring welfare or sourcing audits in the context of physical goods, making 'audit_frequency' not applicable. While the company's Code of Business Conduct and Ethics mentions a commitment to human rights and engaging compliant suppliers, no specific data was provided for the number of forced or child labor incidents, the median days for remediation, the percentage of contracts with ethical clauses, or the percentage of procurement budget directed to diverse suppliers, leading to their omission.

Honest & Fair Business

The company has a formal whistleblower policy, last revised on April 17, 2023, which is communicated to all staff and published externally.

It provides multiple reporting channels, including an anonymous Ethics Helpline, and explicitly states that retaliation will not be tolerated. The Audit Committee oversees the policy and has the authority to direct corrective action. The company also states it ensures ethics and anti-corruption standards are met, and has an FCPA-compliant policy in place, but there is no evidence of training frequency or effectiveness metrics.

Kind to Animals

AvidXchange Holdings, Inc. is a provider of accounts payable automation software and payment solutions.

The provided articles focus on the company's corporate social responsibility initiatives, volunteer hours, and the implementation of its software by a zoo. None of the articles contain any specific, concrete data points or information relevant to animal welfare, cruelty-free certifications, animal testing, animal-derived ingredients, habitat conservation, or any other criteria related to the 'Kind to Animals' ethical value.

No War, No Weapons

The provided articles do not contain specific, quantifiable evidence related to AvidXchange's involvement in arms manufacturing, military contracts, or conflict facilitation. While the company's Code of Business Conduct and Ethics mentions compliance with U.S. Sanctions and support for products being free of conflict minerals, these are general policy statements or commitments rather than concrete data points on sales volume, divestment percentages, audit results, or specific investment ratios required by the rubric's KPIs.

Therefore, no KPIs can be scored based on the available information.

Planet-Friendly Business

AvidXchange reported no regulatory actions, violations, fines, or compliance issues in 2022.

The company's paper reduction efforts in 2022 resulted in avoiding 3.4 million pounds of CO2 emissions, saving the equivalent of 4,600 trees and 4.1 million gallons of water, and avoiding 226,000 pounds of solid waste. However, specific data on total carbon emissions, science-based targets, renewable energy use, or waste diversion rates is not publicly available, and the company is not participating in any tracked reduction initiatives or disclosure networks.

Safe & Smart Tech

The company experienced two ransomware attacks in 2023, one by RansomHouse and another by Clop, which resulted in data exfiltration confirmed in early April 2023.

These incidents affected nearly 7,000 individuals, with compromised data including names, Social Security numbers, financial account numbers, credit/debit card numbers, and account passwords. Notification to affected individuals occurred in October 2023, indicating a slow disclosure. The company incurred $5.4 million in response costs in 2023 and cooperated with inquiries from three state consumer and financial service regulators, filing notice with the Massachusetts Attorney General. In response to the breach, the company accelerated planned security enhancements, implemented password resets, additional logging, conditional access policies, separate cloud-based user accounts, and duo-factor authentication. A new security awareness platform was deployed in Q1 2024 to improve employee awareness through assessments, training, and phishing campaigns, with an emphasis on social engineering. The company states it has policies requiring monitoring, detection programs, network security measures, and encryption of critical data, and adheres to NIST, FFIEC, COSO, and PCI-DSS standards. While AvidXchange encourages vulnerability reporting, it does not currently operate a bug bounty program. Its AI agents are designed to provide transparency into their decision-making, and users retain control over final approval decisions.

Zero Waste & Sustainable Products

AvidXchange reported a waste diversion rate of 59.6% in 2021.

The company has implemented several waste reduction initiatives, including a centralized waste management program at its Charlotte headquarters and promoting hybrid/remote work. Its digitization of accounts payable processes avoided 226,000 pounds of solid waste in 2022 and 222,000 pounds in 2023. AvidXchange has a sustainable procurement policy and a 2030 target to divert 75% of waste from landfills and reduce paper use by 75%.