AvidXchange Drives Energy Leadership and Efficiency

At SPARK 2019, Urjanet was proud to present AvidXchange with the SPARK Award for Leadership in Energy & Sustainability. The company was recognized for empowering businesses to achieve significant energy efficiency and sustainability targets with utility data.

Several nominees stood out for their commitment to energy leadership, but AvidXchange took home first place for its ability to scale positive impact across its client base.

Paper-free and stress-free

AvidXchange Utility is a unique service that provides businesses with comprehensive control, utility reporting and payment for seamless utility invoice management. With historical and current energy usage data from AvidXchange, companies can identify areas of over-usage, forecast for the future, and better manage their utility spend at any and all locations.

60 – 80% of companies are still cutting paper checks to pay their invoices.

By simplifying and automating utility invoice payments, AvidXchange also helps clients eliminate paper waste. Michael Praeger, AvidXchange Co-Founder and CEO, estimates that 60 to 80 percent of companies are still cutting paper checks to pay their invoices. This year, AvidXchange onboarded 1,000 new clients, and about 995 of them chose AvidXchange for the purpose of greening their operations.

Scalable impact

AvidXchange would have found it difficult to serve so many clients without a scalable technology partner, and it found that partner in Urjanet. For the last five years, Urjanet has provided AvidXchange with automated utility data, which AvidXchange software uses to organize and present to clients for smarter energy decisions.

“For us, data has been the catalyst for innovation.”

The company has been able to generate substantial impact on energy efficiency initiatives across the U.S., but as the client base grew and the number of invoices snowballed, AvidXchange needed an automated data provider to scale easily and efficiently. According to Praeger, data has always been the “catalyst for innovation” for the company.

A powerhouse of energy leaders

Each of the companies considered for the SPARK Award for Leader in Energy & Sustainability exemplified leadership in its own way. Other finalists included Siemens, a leading supplier of power generation systems and energy efficiency technologies, and Weir Group. Weir Group replaced a legacy reporting system with Urjanet Utility Data and the Cotopaxi Strata system, automating data capture to enhance employee engagement in sustainability and reduce GHG emissions across the organization.

Check out the stories of all the 2019 SPARK Award finalists here.

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