Givex Announces Global Remote Work Policy

Rhea-AI Summary

Givex announced a new workplace policy allowing over 310 employees across 12 global offices to work remotely or in the office. This decision reflects the company's adaptability during nearly 30 months of remote work, where it achieved significant milestones, including a revenue increase of over 50%. CEO Don Gray emphasized the importance of employee flexibility and maintaining productivity. Givex also completed three acquisitions, went public in Canada, expanded its services, and enhanced its technology systems. Monthly in-office team meetings are planned to foster collaboration.

Positive

• Increased annual revenue by over 50%
• Completed three acquisitions: Loyalty Lane, Kalex, Pi Cash Systeme
• Maintained positive cash flow during remote work
• Expanded services with GivexPay and Merchant of Record
• Established a presence in Brazil with Givex Hub, enabling millions of transactions
• Grew to over 115,000 active global merchant locations

Negative

• None.

After nearly 30 months of working from home, the global fintech company officially launched a new workplace policy that allows its 310+ employees at its 12 offices to work from home or in the office

TORONTO , Aug. 2, 2022 /PRNewswire/ - Givex Information Technology Group Ltd. ("Givex") (TSX: GIVX) announced today its global remote work policy. With more than 310 employees in 12 offices across 10 countries, this announcement marks a major move for the Toronto-based company.

"It has been almost 30 months since our teams left our offices and started working from home in March 2020," said Don Gray, CEO of Givex. "During this time, we have proven that Givex can thrive in a remote work environment. The Givex executive management team made the decision to offer a full-time work from home policy to meet the needs of our hard-working, productive employees across the globe, while also providing the option to work in the office for those who desire to do so."

Since March 2020, Givex has met major business milestones while working remotely, including increasing annual revenue by more than 50%, maintaining positive cash flow, completing three acquisitions (Loyalty Lane, Kalex and Pi Cash Systeme), going public on the TSX in Canada and OTC in the U.S and created the Givex Hub in Brazil, which is now enabling millions of consumer transactions. Givex also added GivexPay and Merchant of Record to its services profile, added two data centers, made significant enhancements to its GivexPOS system and is in the process of installing 1,500+ new locations. The number of merchants using at least one Givex service has grown to over 115,000 active global locations.

"We are incredibly proud of our ability to pivot quickly to a remote working environment while increasing the size and scope of our team and not losing any significant client," said Gray. "In addition, we made several quick but thoughtful decisions about our internal systems to improve our communication and stay closely connected across our 12 offices."

Givex employees will be asked to attend two team meetings in the office per month for issue processing, idea sharing and collaboration (with social distancing recommendations followed closely), as well as quarterly events.

"The Givex team has done a fantastic job in the last two and a half years," said Gray. "Moving forward, we will continue to make major strides in our technology while keeping a laser focus on employee recruitment and retention."

For more information about Givex and the current available positions, please visit https://careers.givex.com/.

About Givex

Givex (TSX: GIVX) (OTCQX: GIVXF) is a global fintech company providing merchants with customer engagement, point of sale and payment solutions, all in a single platform. We are integrated with 1000+ technology partners, creating a fully end-to-end solution that delivers powerful customer insights. Our platform is used by some of the world's largest brands, comprising approximately 100,000+ active locations across more than 100 countries. Learn more at www.givex.com.

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SOURCE Givex

FAQ

What is Givex's new workplace policy announced on August 2, 2022?

Givex announced a global remote work policy allowing employees to work from home or in the office, effective August 2, 2022.

How has Givex performed financially during remote work?

Givex reported over a 50% increase in annual revenue and maintained positive cash flow while working remotely.

What significant milestones has Givex achieved since March 2020?

Givex completed three acquisitions, went public on the TSX, added new services, and expanded its global merchant locations to over 115,000.

What is the stock symbol for Givex Information Technology Group?

Givex Information Technology Group is traded on TSX under the symbol GIVX and OTC under GIVXF.

What is the purpose of in-office meetings for Givex employees?

Givex employees will have two in-office meetings per month for issue processing, idea sharing, and collaboration.