We have a very exciting announcement! In November of 2019, Preciate was approved as a Certified B Corporation for the first time. After becoming a public benefit corporation in July of 2019, this was the clear next step to further our commitment to do the best we can for the world. Preciate is proud to now be a part of the community of businesses who believe in the power of purpose.
What are Certified B Corporations?
Certified B Corporations are companies that have gone through a rigorous assessment to determine they meet the highest level of social and environmental impact, transparency, and legal accountability. In order to pass the assessment and receive their certification, companies must earn a minimum of 80 points from the six different impact areas.
From diversity of leadership to employee wellbeing, each aspect of a company and its mission is revealed. When the process is complete, certified companies sign the Declaration of Interdependence, stating their dedication to using the power of purpose in business.
To learn more about the B Corp movement and what it means to be a Certified B Corporation, check out this YouTube video put together by the folks over at B Corporation.
Our 2019 B Impact Assessment Score
As a software company, Preciate had an interesting breakdown of points in each of the six impact areas. We have established that our mission to strengthen relationships through recognition is central to our governance, and the treatment of our employees received top marks as well.
For those curious, here is the breakdown of our score:
- Governance: 18.5
- Workers: 35.5
- Community: 11.4
- Environment: 7.8
- Customers: 7.2
Room for Improvement
Going through this process for first time provides a significant opportunity for growth and improvement. Certified B Corporations must go through the certification process every two years, and in between, they are encouraged to make gradual improvements to their Impact Score.
First, we are excited to branch out into the different ways software companies can get involved in better environmental practices. In addition, we can't wait to work on tracking the positive impact Preciate has on its members, which will help us improve the amount of benefit we can bring to our customers.
2020 is the year of growth for Preciate, and our commitment to the B Corp movement is no exception. We hope you will join us for this journey. And we would love to engage with you and hear your thoughts on what we could do better.