Sustainability Data Provides New User Features to Opstream

RALEIGH, NORTH CAROLINA, USA, February 1, 2023 /EINPresswire.com/ -- Karma Wallet, a sustainable financial technology platform, today announced a partnership with Opstream, the maker of an AI-driven platform that automates, streamlines and accelerates cross-organizational procurement workflows to integrate Karma Wallet’s social and environmental responsibility scoring data of 15,000+ companies into Opstream. The move will integrate Karma Wallet’s carbon footprint estimation and offset features into Opstream allowing the company's clients to easily identify and support sustainable vendors and help make a positive impact on the environment.

More than 90% of S&P 500 companies now publish ESG reports in some form – and corporate social responsibility is becoming part of more companies now than ever before. This partnership showcases the growing role of technology in the larger sustainability movement.

“We are excited to partner with Opstream, bringing Karma Wallet’s capabilities to their clients, and even more people,” said Jayant Khadilkar, CEO and Co-Founder at Karma Wallet. “By integrating our carbon footprint estimation and offset features into the Opstream flow, we are unlocking the ability for individuals to band together and help make collective decisions that will ultimately benefit the planet. Our data shows 51% of Karma Wallet users increased their ‘Karma Score’* after creating an account – highlighting that increased awareness leads to more mindful choices.”

“Evaluating vendors is becoming increasingly complex, with new regulations surrounding environmental, social, and governance (ESG) and carbon footprint. To successfully grow while complying with standards, companies need to make informed purchasing decisions. As a leading procurement automation software, Opstream continuously improves its platform to assist procurement leaders in this task. By partnering with Karma Wallet, procurement teams can easily assess vendors on their ESG and carbon offset performance, and choose the best fit products for their operations while minimizing compliance risks.”says Lihi Lutan CoFounder and CEO at Opstream.

Opstream's no-code integration simplifies the process of implementing its platform, allowing companies to efficiently transform their procurement organizations. Predetermined ESG and Carbon offset qualifiers automatically evaluate against the approval process in real time, serving as guidelines for assessing products and allowing for intervention.

With this partnership, organizations can establish a transparent and collaborative process that identifies any deviations from protocol, ensuring compliance and reducing risk for the purchasing company. Now, companies and procurement leaders will have full visibility to map out their total vendor impact.

About Karma Wallet: Karma Wallet is a financial technology platform that gives users and businesses data and tools to be sustainable. Karma Wallet aggregates data from 30+ sources to evaluate thousands of companies for social and environmental impact. Karma Wallet users create a free account at KarmaWallet.io to get personalized data around their shopping carbon footprint and insights into their shopping habits. Their unique Karma Score* system gives users a dollar-weighted average of the Impact Scores of the companies they shop with – encouraging them to increase their Karma Score through sustainable shopping.

About Opstream: Opstream’s procurement platform creates a seamless purchasing experience that enables everyone in the company’s buying cycle to collaborate efficiently, free of redundant communications and unnecessary roadblocks. Through its automated product optimization engine, Opstream ensures that companies onboard the best fit product, avoids software duplications and reduces associated risks. With Opstream, companies can purchase with confidence, knowing that all compliance protocols are met, all documents are stored in a unified repository and that their teams, wherever they may be, are following a standardized process.

Juliet Payne
Karma Wallet
juliet@theimpactkarma.com
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