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PR Newswire

CoverMyMeds Lauded by Frost & Sullivan for Seamlessly Connecting the Healthcare Network with Its Industry-leading ePA Platform

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CoverMyMeds’ platform streamlines prior authorization processes and reduces the approval time from days to mere minutes

SANTA CLARA, California, Oct. 6, 2020 — Based on its recent analysis of the North American prior authorization (PA) solutions market, Frost & Sullivan recognizes CoverMyMeds with the 2020 North America Product Leadership Award. With its innovative electronic prior authorization (ePA) solution, physicians can submit PA requests up to three times faster than with conventional manual, phone, and fax methods. Its suite of medication access solutions seamlessly connect the healthcare network to help reduce prescription abandonment and improve time-to-therapy.

CoverMyMeds
CoverMyMeds

CoverMyMeds’ integrated and web accessible PA platform streamlines the process for healthcare stakeholders, including providers, payers, pharmacy, and life sciences companies. Its network includes approximately 75% of electronic health records (EHRs), 96% of pharmacies, 750,000 providers, and most health plans. With its novel product, it decreases PA determination times from days to mere minutes. Through continuous innovations, it also provides real-time prescription decision support and patient empowerment solutions.

"The cumbersome, traditional prior authorization process is a clear medication access barrier with an estimated 37% of medications requiring PA being abandoned each year.1 CoverMyMeds is helping to solve this by streamlining the complex process electronically," said Pavel Zhebrouski, Best Practices Research Analyst at Frost & Sullivan. "Their platform is the most reliable in the industry, securely and electronically submitting PA requests between pharmacies, providers and health plans. By using CoverMyMeds, determination time is greatly decreased and can lead to an 80% higher dispense rate for prescriptions in some cases.2"

CoverMyMeds also presents an innovative, tech-driven approach to patient support services that streamlines patient access to specialty therapies and enables end-to-end visibility into the patient journey. Its ability to work across the entire patient journey and its business partnerships with all healthcare stakeholders makes it unique in the market. It leverages various methods such as user interviewing, focus groups, co-creation, user testing of its design concepts, quantitative studies, and design thinking methods with all stakeholders to ensure product relevance and customer value.

"As part of the McKesson Corporation, CoverMyMeds has been able to continue growing and reinventing healthcare for millions of patients who need better access to medications," noted Daniel Ruppar, Consulting Director at Frost & Sullivan. "Its responsiveness to both the industry and customer challenges allows it to create best-in-class customer value and achieve sustained leadership in the PA space."

Each year, Frost & Sullivan presents this award to the company that develops a product with innovative features and functionality that is gaining rapid market acceptance. The award recognizes the quality of the solution and the customer value enhancements it enables.

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

1 – CoverMyMeds Data on File, 2020
2 – CoverMyMeds data on file, based on two months of paid and rejected data from PioneerRx, 2019

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Contact:

Kristen Moore
P: 210.247.3823
E: kristen.moore@frost.com

About CoverMyMeds

CoverMyMeds, part of McKesson’s Prescription Technology Solutions, is a fast-growing healthcare technology company that has been recognized as a "Best Place to Work" by Glassdoor and a "Best Company to Work For" by FORTUNE. CoverMyMeds’ solutions help patients get the medications they need to live healthy lives by seamlessly connecting the healthcare network to improve medication access; thereby increasing speed to therapy and reducing prescription abandonment. CoverMyMeds’ network includes 75 percent of electronic health record systems (EHRs), 96 percent of pharmacies, 750,000 providers and most health plans and PBMs. Visit www.covermymeds.com for more information.

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PR Newswire

Firmenich Announces the World’s First AI-Created Flavor

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GENEVA, Oct. 2, 2020 — Firmenich, the world’s largest privately owned perfume and taste company, is proud to announce it has created the first ever flavor by Artificial Intelligence (AI), a delicious lightly grilled beef taste for use in plant-based meat alternatives. A key milestone in Firmenich’s digital transformation across its value chain, this breakthrough provides customers with uniquely tailored taste and nutrition solutions, with unprecedented speed-to-market. Leading the industry in augmented creativity, the Group is currently in advanced testing on several new AI-generated Flavors across its core tonalities.

 

"Firmenich is marrying the most fundamental elements of our DNA: ground-breaking innovation with the unique creativity of our Flavorists for enhanced formulation," said Firmenich’s Chief Digital and Information Officer, Eric Saracchi. "AI enables us to explore new boundaries by empowering our Creators with a precise formula starting point, as well as additional suggestions for optimized ingredient combinations from which they can create bespoke tastes."

Firmenich Flavors President Emmanuel Butstraen added: "The Covid-19 crisis has changed the food innovation landscape as well as the consumer marketplace. We must understand and respond to these rapidly-evolving needs with more creativity at an even faster pace. Whether through offering moments of comfort and delight or addressing the larger shift towards healthier food & beverages." Butstraen continued, "The exciting addition of AI allows us to better leverage different raw materials and explore new creative leads. Taking into account specific product parameters such as 100% natural ingredients and regulatory requirements, the technology enhances our flavorists’ capability to create superior taste solutions and accelerate our product development."

The world’s first AI flavor was created in collaboration with Microsoft®, leveraging the entirety of Firmenich’s broad raw material database. The resulting grilled beef flavor capitalizes on Firmenich’s unique palette of ingredients and SmartProteins™ expertise in plant-based protein alternatives. 

About Firmenich

Firmenich is the world’s largest privately-owned perfume and taste company, founded in Geneva, Switzerland, in 1895 and has been family-owned for 125 years. Firmenich is a leading business-to-business company operating primarily in the fragrance and taste market, specialized in the research, creation, manufacture and sale of perfumes, flavors and ingredients. Renowned for its world-class research and creativity, as well as its leadership in sustainability, Firmenich offers its customers superior innovation in formulation, a broad and high-quality palette of ingredients, and proprietary technologies including biotechnology, encapsulation, olfactory science and taste modulation. Firmenich had an annual turnover of 3.9 billion Swiss Francs at end June 2020. More information about Firmenich is available at www.firmenich.com

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PSI and SQA’s Skills for English™ is now a UKVI-approved Secure English Language Test

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LONDON, Oct. 2, 2020 — PSI Services (PSI), a global provider of assessment services, leading-edge technology, and talent management solutions and the Scottish Qualifications Authority (SQA), Scotland’s national awarding and accreditation body, today announced that their Skills for English™ language test is now a UKVI-approved Secure English Language Test (SELT).

The approval follows PSI reaching a commercial arrangement with the UK Home Office last year to deliver the SELT for overseas UK visa applicants. Beginning October 12 in China and the rest of the world (outside the UK) later in 2020, applicants will have access to PSI’s fully computer-based testing experience via its global test center network.

Janet Garcia, Executive Vice President of PSI’s Global Credentialing Division, commented, "This is a major milestone for our Skills for English™ brand which we created jointly with SQA. The UKVI-approval is widely acknowledged as the hallmark of an effective, high-quality qualification, and we are thrilled now to be able offer a Skills for English (UKVI) test."

John McMorris, Director of Business Development at SQA added, "This approval is the culmination of an intense period of work between ourselves and PSI to create a qualification that can service the needs of those seeking to work, study, or settle in English-speaking countries. Having a UKVI-approved SELT is a major achievement, and we will be working hard to build out the Skills for English brand for a range of other purposes."

The approval of Skills for English as a UKVI Secure English Language Test means that it can be used for all types of visa applications where evidence of English Language proficiency is required. PSI and SQA believe the simplicity of the candidate’s journey – from booking an assessment, to the test session itself, through to the delivery of results, coupled with wide availability of test locations and dates – will ensure its popularity with test-takers.

Timing for the launch of the new test has inevitably been impacted by the COVID-19 pandemic and will be phased with bookings for test sessions available first in China and Hong Kong SAR, with tests in an additional 120 countries following a month later. All our SELT centers strictly adhere to the latest safety procedures with regard to COVID-19 based on various international, state, and local orders and guidelines as well as CDC and WHO recommendations.

The delivery of this program will further reinforce PSI’s presence in the global secure testing market, which comprises over 2,000 plus testing locations spanning 160 countries through which it delivers some 15 million assessments per year.

About PSI

PSI Services LLC (PSI) is a global workforce solutions provider that designs robust solutions for our clients by blending best-in-class assessment content, leading-edge technology, and deep consulting expertise across the entire career life cycle. PSI has over 70 years of experience providing worldwide testing solutions to a wide variety of customers across public and private sector industries, ranging from small businesses to global enterprises, leading academic institutions, and government organizations.

PSI offers a comprehensive solutions approach from test development to delivery and results processing, including pre-hire employment selection, managerial assessments, licensing and certification tests, distance learning testing, and other specialized services. Through our work with over 2,000 experts across 160 countries, PSI exists to empower people in their careers and drive organizational success. For more information, visit psionline.com.

About the Scottish Qualifications Authority

The Scottish Qualifications Authority (SQA) is Scotland’s national awarding and accreditation body. It is responsible for developing, delivering, and accrediting qualifications, courses, and assessments undertaken by thousands of candidates in schools, colleges, training providers, and the workplace every year. SQA qualifications are delivered by thousands of teaching and training professionals in Scotland throughout the UK and around the world. SQA is instrumental in setting and maintaining robust national standards that ensure its courses, qualifications, and awards are recognized by colleges, universities, and industry, enabling learners and businesses alike to realize their potential and achieve their ambitions.

SQA works with around 15,000 teaching professionals and industry specialists, who support its awarding operations annually, ensuring SQA qualifications accurately reflect learners’ knowledge and skills and provide routes to jobs or further study. SQA also awards a range of other qualifications, including customized awards, to meet the needs of individual companies and organizations. They provide advice, support, and services, such as expertise in assessment, that enable organizations to meet a range of educational, development, and regulatory requirements.

Based in Scotland, SQA works throughout the UK and internationally. SQA takes great pride in offering exceptional customer service, which is acknowledged by government organizations, universities, businesses, and individuals around the world.

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PR Newswire

Global ERP Solution Provider BST Global Names New Chief Executive Officer and New President

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TAMPA, Florida, Oct. 2, 2020 — BST Global announced today that Javier A. Baldor has been appointed as Chief Executive Officer and Carlos A. Baldor Jr. appointed as President. 

This announcement comes in light of the passing of BST Global’s Founder, President & CEO Carlos A. Baldor Sr. in August 2020. Carlos Sr. had prepared years in advance the company’s succession plan, which included his two sons successfully carrying on the global business. 

Javier A. Baldor, who previously served as the company’s Executive Vice President, joined BST Global in 1989 and has served in various capacities during his tenure. In 1999, Javier was the primary catalyst in establishing a global vision for the company, which now operates across an international network of offices and has clients leveraging BST Global’s solutions in 65 countries on six continents. As Chief Executive Officer, Javier will continue to lead a global team of professionals responsible for the market introduction of BST Global’s business software products and solutions. He will also be instrumental in crafting and implementing the company’s business strategy, overall vision and mission with Carlos Jr. and the BST Global leadership team.

Carlos A. Baldor Jr. previously served as the company’s Vice President. Carlos Jr. joined BST Global in 1988 as part of the Documentation team, and in 1990, he became a member of the Design team for BST RDBMIS. In 1993, he was named Manager of the Training and Support teams. From 1997 to 2005, Carlos Jr. was the Manager of the Product Development team – when BST Enterprise was designed, developed and brought to market. In 2005, he was named the Director of Design and was involved in new product development. In 2016, Carlos Jr. was appointed Vice President overseeing the Operations and Product Delivery teams to ensure they were supported to achieve their goals, and produce the most meaningful products possible. In addition to helping drive the company’s business strategy execution, Carlos Jr. will also focus on mentoring and coaching the next level of BST Global’s future leadership.

FROM THE CHIEF EXECUTIVE OFFICER
"My father built this business from the ground up, which has flourished over many decades, by clearly fostering a vision and leading by his example of sheer dedication, compassion and hard work. It is a privilege and great honor to follow in his footsteps, continue the mission that he started nearly 50 years ago and build upon it with an extraordinary team of professionals around the world." – Javier A. Baldor, Chief Executive Officer, BST Global 

FROM THE PRESIDENT
"Carlos Sr. was an engineer by schooling and enjoyed using technology to solve problems. He was a true innovator and pioneer leveraging technology since the early 1970s when computers were in their infancy. This spirit has always excited me and it continues to fuel the company as it looks forward to the future with the goal of helping our clients and users achieve more and make their lives easier." – Carlos A. Baldor Jr., President, BST Global 

ABOUT BST GLOBAL 
BST Global designs, develops and deploys project-based ERP solutions specifically for the world’s leading architects, engineers and consultancies around the globe. More than 120,000 professionals across six continents and 65 countries rely on BST Global’s solutions each day to successfully manage their projects, resources, finances and client relationships. With unrivaled industry knowledge, BST Global serves as trusted partners to its loyal clients and remains at the forefront of innovation to evolve its products for the greater good. For more information, visit www.BSTGlobal.com.

Contact:
Eileen Canady
Director, Global Marketing
ECanady@BSTGlobal.com

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PR Newswire

IAR Systems facilitates building and testing of automotive applications in Linux-based environments for Renesas RH850 MCUs

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IAR Build Tools for Linux for Renesas’ RH850 enable organizations to improve integrations, gain code quality control and streamline automated workflows

UPPSALA, Sweden, Oct. 2, 2020 — IAR Systems®, the future-proof supplier of software tools and services for embedded development, releases an update of its Renesas RH850 microcontroller (MCU)-focused build tools supporting implementation in Linux-based frameworks for automated application build and test processes. 

The growing complexity in embedded systems has accelerated the need for scalability and flexibility in today’s software development environments. This is especially true for the development of automotive embedded systems, where the Renesas RH850 MCUs are used. IAR Systems’ build tools for Linux streamlines the building and testing processes, making it possible for organizations to optimize resources when it comes to the time developers spend in their projects, as well as to manage and utilize licenses and servers in an optimal way. With the integrated static analysis tool C-STAT, developers can ensure code quality throughout the development and testing process. C-STAT proves code alignment with industry standards like MISRA C:2012, MISRA C++:2008 and MISRA C:2004, and also detects defects, bugs, and security vulnerabilities as defined by CERT C and the Common Weakness Enumeration (CWE).

"Embedded systems complexity continues to be a major challenge for many of our customers worldwide, especially in the automotive industry where more and more features are added to vehicles," said Kiyofumi Uemura, Global Automotive Director, IAR Systems. "We are now extending our Linux offering for Renesas RH850-based embedded systems to support our automotive customers all the way from development start into automated workflows. Our long-standing relationship with Renesas enables us to give our shared customers the flexibility they need to stay competitive in their respective markets."

IAR Systems’ build tools for Linux includes the highly optimizing IAR C/C++ Compiler™, IAR Assembler, Linker and library tools, IARBuild and runtime libraries. The IAR C/C++ Compiler adheres to a freestanding implementation of the C18 (ISO/IEC 9899:2018) programming language standard and supports all C++17 features. In addition, C++14 (ISO/IEC 14882:2015), C11 (ISO/IEC 9899:2012), C89 (ANSI X3.159-1989) and the IEEE 754 standard for floating-point arithmetic are supported. 

IAR Systems is a Renesas Alliance Partner and delivers high-performance development tools for the entire lineup of Renesas MCUs. With more than 4,000 supported Renesas devices, the C/C++ compiler and debugger toolchain IAR Embedded Workbench and its wide selection of integrated tools for different needs supply exceptional design flexibility for embedded developers working with the extensive Renesas product portfolio. Learn more at www.iar.com/renesas.

Editor’s Note: IAR Systems, IAR Embedded Workbench, Embedded Trust, C-Trust, IAR Connect, C-SPY, C-RUN, C-STAT, IAR Visual State, IAR KickStart Kit, I-jet, I-jet Trace, I-scope, IAR Academy, IAR, and the logotype of IAR Systems are trademarks or registered trademarks owned by IAR Systems AB. All other product names are trademarks of their respective owners.
 

CONTACT:

IAR Systems Contacts 

AnnaMaria Tahlén, Content & Media Relations Manager, IAR Systems
Tel: +46 18 16 78 00  Email: annamaria.tahlen@iar.com

Tora Fridholm, CMO, IAR Systems
Tel: +46 18 16 78 00 Email: tora.fridholm@iar.com

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PR Newswire

Renowned Pioneer of Bottleneck-Handling Simulation Software & Co-Author of Throughput Economics, Eli Schragenheim, joins the Board of Advisors of ThroughPut Inc.

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PALO ALTO, Calif., Oct. 2, 2020 — ThroughPut Inc., the Industrial AI Supply Chain pioneer, today announced the addition of Eli Schragenheim to its esteemed Board of Advisors. Eli Schragenheim has been an inspirational driving force, working towards institutionalizing the unique knowledge of the "Theory of Constraints" (ToC) into literature, software and real-world application. Mr. Schragenheim has been instrumental in reshaping organizations to make better decisions using ToC as a foundation.

As ThroughPut continues its mission to leverage Artificial Intelligence (AI) to accelerate the modernization of industrial operations for human progress, Eli’s addition to the Advisory Board provides further validation of the company’s unique, data-driven software approach. Mr. Schragenheim will not only play a vital role in further steering this journey forward, but also reinforce ThroughPut’s goal of bringing together the world’s leading operational experts to drive a new era of Operational Excellence across the $90 Trillion dollar global economy.

Eli Schragenheim joined Dr. Eliyahu Goldratt, author of "The Goal" and the developer of the TOC management methodology, in 1985. He developed simulation-games software that taught people how to include bottleneck (constraint) perspective in the planning and execution phases in manufacturing, distribution and multi-projects, while being exposed to significant uncertainty. Over the years, Eli’s contributions have transformed the way millions of industrial operations professionals approach the science of management. Distinguished with a Lifetime Achievement Award for his contribution to the ToC body of knowledge, as well as co-author of his latest book, Throughput Economics, Eli is considered to be one of the most accomplished authorities in the ToC community. His extensive body of work in the ToC space, complemented by his unique understanding of the complex nuances of the Information Technology (IT), Operations Technology (OT) and the Finance fields, is what makes him an especially acclaimed Subject Matter Expert across industries. 

"We are pleased to welcome Eli onboard the distinguished ThroughPut Advisory Board. We look forward to continuing this great collaboration to ensure that ThroughPut’s foundations in ToC Software Development and Delivery are truly world-class", announced Ali Raza, the founding CEO of ThroughPut. " Bringing Eli officially onto the Advisory Board marks an important milestone in our company’s history. As entrepreneurs, we are constantly seeking additional market validation, including from the investment and involvement of the domain experts that invented the key cornerstones in our space. To be working with Eli Schragenheim on the ELI software now, is an opportunity that I could not have imagined at the founding of the company. We are now encouraged more than ever to make ThroughPut an irreplaceable part of the Industrial Software landscape, and through data, provide a voice for operational professionals in executive decision making settings".

"I am excited to join the leadership team here at ThroughPut and continue working with them to achieve their vision of applying existing data that support continued operational excellence" explained Eli. "I believe that today, technology acts as both an opportunity and a threat. ThroughPut is on the right path by identifying these nodes of opportunities early on. I am interested in the applications of AI in our field, and I am happy to see that ThroughPut is taking initiative in the industrial operations field. However, it doesn’t stop just here. As decision makers, it is important to stay relevant and continuously innovate to deliver real value using technology. I believe that by understanding Throughput Economics and leveraging complementary AI software like ThroughPut’s ELI system, organizations can develop better ways to handle uncertainty and learn from experience, especially from one-time events that catch them by surprise. By serving on the boards of organizations which are open to new ideas, such as ThroughPut, I can help in creating win-win relationships, with a strong focus on leveraging ToC in combination with modern software platforms, for greater applicability at scale, and a maximum positive impact on the world."

After completing his seminal work on Throughput Economics, Eli Schragenheim intends to start mentoring TOC consultants and practitioners to support them in their projects to vastly improve the performance of various organizations, and how to leverage modern scalable software tools like ThroughPut to increase even more the Output and Profitability for their clients in greater, more manageable numbers. He aims to equip organizations, such as ThroughPut, to develop even more effective ways of handling uncertainty, including solutions that create more accountability in times of such uncertainties.

PR Contact:
Tina Jacobs
Marketing Manager
Tina.jacobs@throughput.ai

About ThroughPut Inc.:
ThroughPut Inc. is the Artificial Intelligence (AI) Operations pioneer that enables companies to leverage their existing data systems to increase output, quality, and profitability across their end-to-end Supply Chains. ThroughPut’s Operations AI Product, ELI, includes the only Bottleneck Management System (BMS) that utilizes existing enterprise data systems, such as ERP, MES, IMS, TMS, WMS, PLC, EAM, POS, CRM, SCADA, Historian, and other data systems, to solve for the $25 Trillion of annual Waste across global supply chains already today. Such constraints to the $90 Trillion global GDP could otherwise be dedicated to more productive and useful purposes to the benefit of all stakeholders. ThroughPut’s AI software is designed by Fortune 500 Supply Chain & Logistics leaders, Silicon Valley Analytics and AI experts, and top global Operations & Experts in the areas of Lean Manufacturing, the Theory of Constraints, Supply Chain Automation, Total Quality Management, and over four-dozen leading best practices now digitized in the ELI product, with hundreds of years of combined experience in the space. ELI thinks like an operations manager and automatically provides domain expertise, executable insights, quantitative cost-benefit analysis, and recommendations in real-time, which current static Business Intelligence and Analytics tools do not effectively capture nor act upon. ThroughPut.AI’s dynamic insights include real-time resource allocation recommendations, granular root cause identification, and operational process stability analysis. ELI enables Process Improvement Experts and Operations Managers to reduce cycle times and operational unpredictability across some of the most advanced process industries, including manufacturing, logistics, automotive & transportation, aerospace & aviation, chemical processing, energy & utilities, oil & gas, and others.

More information about ThroughPut.AI is available at: www.throughput.ai

 

PR Newswire

20% of the World’s Countries Now Use BitSight to Protect National Security

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Governments bolster critical infrastructure security through real-time monitoring and information sharing

BOSTON, Oct. 2, 2020 — BitSight, the Standard in Security Ratings, has reached a critical milestone, with 38 countries, representing one-fifth of all governments worldwide, now using BitSight solutions to monitor and manage cyber risk to critical national infrastructure. BitSight works with national governments to help manage national cyber risk through security ratings and analytics, which provide visibility and awareness of security performance of critical national infrastructure that can be used to identify vulnerabilities at scale, model systemic risk, enable close collaboration to reduce the likelihood of a national incident, and measure the effectiveness of policy. Countries with government organizations using BitSight include Belgium, Brazil, Germany, Iceland, The Netherlands, Spain, and the United States.

The vulnerability of national critical infrastructure on a global scale is being thrust into the limelight through attacks on hospitals, the defense industrial base, energy companies, and even medical research. Governments around the world lack visibility into the security performance of critical infrastructure and struggle to determine the effectiveness of the policies they enact. By leveraging BitSight, countries across the globe are able to gain new insight into aggregated risk, vulnerability, and security effectiveness of critical infrastructure and make data-driven decisions to reduce risk.

At the onset of the COVID-19 pandemic, BitSight partnered with the National Education and Research Network (Rede Nacional de Ensino e Pesquisa — RNP) in Brazil to help to protect Brazilian health institutions in its backbone against potential cyber attacks. RNP is an advanced national network for higher education, research, and innovation that enables collaboration and communication in the fields of teaching and research. "At this moment, it is fundamental to support health institutions that are experiencing high demand for their services," said the Executive Director of RNP, Eduardo Grizendi. "Any unavailability or security incident can cause serious damage to patients and users."

The BitSight platform makes it possible for the RNP to assess the cyber risk of health institutions during the pandemic. According to Emilio Nakamura, Chief Information Security Officer of the RNP, "there was a great complementarity between BitSight and the other solutions already used by the security team (CAIS) which improved the RNP’s ability to monitor institutions and help them prevent and address their problems."

In Belgium, BitSight partnered with a government agency and Agoria, a large professional association of more than 2,000 technology-inspired companies, to directly engage with a large number of important companies to understand and improve their cybersecurity posture leveraging BitSight data and metrics.

"During the coronavirus pandemic, it was important for us to offer our member organizations a way to better understand their security performance as well as the right data to improve and remediate any risk," said Yves Schellekens, Business Group Leader Industries for Agoria. "BitSight helped us to scale up our efforts and offered a vehicle to continuously measure the effect of this engagement. We will look to enhance our collaboration with member organizations and improve security behaviors within Belgium leveraging the data delivered by BitSight."

"Protecting critical infrastructure from cyber attack is one of the most important governmental missions," said Francisco Fonseca, VP of National Cybersecurity at BitSight. "Countries trust BitSight to provide valuable, real-time security performance insights that they can’t get anywhere else and a method for sharing information that measurably reduces risk. We are honored to partner with so many countries to help them fulfill this critical mission."

For more information on BitSight’s work with national governments, please visit https://www.bitsight.com/national-cybersecurity.

About BitSight
BitSight transforms how organizations manage cyber risk. The BitSight Security Ratings Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help organizations manage their own security performance; mitigate third party risk; underwrite cyber insurance policies; conduct financial diligence; and assess aggregate risk. With over 2,100 global customers and the largest ecosystem of users and information, BitSight is the Standard in Security Ratings. For more information, please visit www.bitsight.com, read our blog or follow @BitSight on Twitter.

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PR Newswire

244% Percent Return on Investment for Peakon Customers, Total Economic Impact Study Reveals

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Study conducted by independent consulting firm reveals how Peakon enables organizations to generate strong return on investment (ROI) through improved productivity, reduced staff turnover, and less absenteeism

COPENHAGEN, Denmark, LONDON, AUCKLAND, New Zealand, BERLIN and NEW YORK, Oct. 2, 2020 — Peakon – an employee success platform – today released a commissioned Total Economic Impact™ study, conducted by Forrester Consulting, which quantifies the benefits and returns of using Peakon. The study proved a direct correlation between employee success and business success.

A composite organization, made up of interviewed Peakon customers, enjoyed an ROI of 244 percent over three years, equating to a net present value (NPV) of $1.2million.

The study found that, by using Peakon, the composite organization financially benefited in the following ways:

  • Savings of approximately $871,000 driven by a 10% reduction in voluntary staff turnover over three years.
  • Estimated savings of $755,000 as a result of reduced employee absenteeism, with average absenteeism declining by two days after the first year with Peakon.
  • Savings of around $5,200 as HR teams save seven days annually on post-survey analysis: Peakon survey results are delivered directly to managers instead.

When interviewed for the study, one enterprise customer from the recruitment sector said: "The Peakon platform drives engagement results to managers directly through the dashboard. That really empowers them to understand how they’re leading the team, what’s working well, and what improvements they could make."

Another enterprise customer, director of people services in the non-profit industry, said: "The implementation process itself was probably one of the easiest I’ve ever been a part of… It was seamless. It was right on time as promised."

In addition to the quantifiable benefits above, the composite organization also reaped the following unquantified benefits:

  • Improved Employee Experience (EX). Peakon customers interviewed for the study repeatedly stated that their EX scores improved following the implementation. As we know from previous research, engaged employees positively impact customer experience, productivity, hiring, and overall profitability.
  • Empowered managers. The composite organization found that Peakon helps to empower managers. It makes it easier for managers to address difficult issues, implement changes, and to improve team engagement. Peakon provides suggestions for training and follow-up, in addition to the initial data and team insights.
  • Initiating organizational culture change. The study also found that, with Peakon, employees feel heard, and managers can identify and address issues quickly. This helps to facilitate a change in established attitudes and behaviors – and ultimately a culture shift.

All interviewees flagged their appreciation of Peakon’s continued platform development. Ongoing updates provide additional benefits and use cases, allow for greater flexibility, and further cost avoidance.

Commenting on the findings, Peakon CEO and co-founder Phil Chambers said: "More companies are partnering with Peakon as they begin to understand the direct and inextricable correlation between strong employee engagement and better business outcomes.

"As this study shows, Peakon customers enjoy benefits that extend far beyond improved employee engagement scores. This includes reduced staff turnover and absenteeism, better customer experience and productivity, and healthier profits as a result."

Chambers adds: "We’ve long since understood the business benefits of making your people the top priority. We believe that this study by Forrester Consulting just proves it further by quantifying the impact Peakon can have on businesses worldwide."

Download THE TOTAL ECONOMIC IMPACT™ OF PEAKON here.

Forrester developed the Total Economic Impact™ of Peakon, commissioned by Peakon, through four enterprise customer interviews at organizations using Peakon to obtain data with respect to costs, benefits, and risks, and subsequent financial analysis. Forrester conducted customer interviews across recruiting, defense, non-profit and media industries.

Total Economic Impact is a methodology developed by Forrester Research that enhances a company’s technology decision-making processes and assists vendors in communicating the value proposition of their products and services to clients. The TEI methodology helps companies demonstrate, justify, and realize the tangible value of IT initiatives to both senior management and other key business stakeholders.

About Peakon

Peakon is an employee success platform that converts feedback into insights. It makes the employee conversation quantifiable and actionable to increase employee engagement – not simply measure it. Peakon’s core belief is that work should work for people, and with the largest standardised data set of employee feedback in the world, Peakon provides customised benchmarks and personalised insights to support our mission of helping every employee drive the change they want to see. To date, Peakon has helped organisations like Capgemini, Verizon, Pret, Trustpilot, and easyJet make fundamental changes in how they operate to improve employee experience, driving greater business results.

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PR Newswire

Giift launches “GiiftPay”

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A Mobile Payment Loyalty App for SMEs and Consumers

SINGAPORE, Oct. 2, 2020 — Today, Giift, the Loyalty Marketplace specializing in the exchange of loyalty currencies (points, miles, gift cards, rewards) announced that it has launched GiiftPay, a Coalition Reward Program for SMEs and consumers.

 

 

A turnkey solution, GiiftPay enables merchants to enroll to the Giift Coalition Program, deploy it instantly through their payment gateway, and issue coalition points to consumers when they pay. GiiftPay also empowers merchants to create and push digital offers to millions of consumers driven by the Coalition Program and boost their business.

GiiftPay is a state-of-the-art solution aligns perfectly the interests of:

  • Small merchants, willing to be part of a large reward program, and to acquire additional customers from the program network;
  • Payment processors, gateways or e-wallets, ready to provide added value services to their merchants, in addition to their standard transactional solutions;
  • Consumers, eager to earn coalition points that they can redeem anywhere.

"GiiftPay offers a unique value proposition for payment gateways, mobile payment technologies, small merchants and consumers at the same time. With GiiftPay, we address a massive market made of thousands of payment processors and e-wallets, millions of SMEs and billions of dollars of daily transactions. Our objective is to deploy GiiftPay within such ecosystem," adds Pascal Xatart, Co-Founder & Director, Giift.

About Giift.com: Giift innovative end to end loyalty technology turns rewards programs into fungible currencies. Giift operates in more than 50 countries, with offices in New York, London, Singapore, Wuhan, Nairobi, Dubai, Jakarta, Mumbai, Colombo, Doha, and Dhaka. Giift business model is transaction based.

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For more information about this story, contact:
pascal.xatart@giift.com
www.giift.com

 

 

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PR Newswire

Nintex Announces Agreement to Acquire K2 Software, Inc.

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MELBOURNE, Oct. 2, 2020 — Nintex, the global standard for process management and automation, today announced a definitive agreement to acquire K2 Software Inc., an innovative provider of digital process automation (DPA) software solutions.

K2 is Nintex’s third acquisition since Thoma Bravo became the company’s majority investor in early 2018. Upon closing this transaction, Nintex will serve more than 10,000 customers including approximately 50 per cent of the Fortune 500 and will generate over $200 million in annual recurring revenue, making Nintex one of the largest independent software vendors for process automation.

"We are excited to be bringing together leading innovators in the digital process automation software market," said Nintex CEO Eric Johnson. "Upon closing, Nintex and K2 customers and partners will benefit from an even broader range of process management and automation solutions. The combination of our respective development teams will further accelerate our pace of innovation in this growing market."

Organisations in every region of the world are saving costs and improving operations by using Nintex’s easy-to-use, powerful process platform to visually map and manage business processes with Nintex Promapp® and to accelerate digital transformation with mobile apps, digital forms, workflows, robotic process automation (RPA), document automation and eSignatures.

K2 Software, Inc. helps enterprises digitally transform faster by simplifying the creation of modern process applications and automated workflows with robust developer tools. Over 1.5 million users in more than 84 countries, including 30 per cent of Fortune 100 companies, have leveraged K2 software solutions to take control of their business processes, increase visibility and improve operational efficiency.

"We are looking forward to delivering even greater value to our K2 customers by joining forces with Nintex," said K2 CEO and President Evan Ellis. "Combining Nintex’s solution portfolio with K2’s complementary technologies will further enhance what commercial enterprises and government agencies can achieve through the power of digital process automation."

Industry comments on the automation market

"With Nintex’s latest acquisition announcement, the company will further enhance its position as a leading digital business platform and its role as a leader in workflow and content automation and digital transaction management," said Aragon CEO and Lead Analyst Jim Lundy. "Nintex is demonstrating that it is built to last and one to watch in the world of process and automation."

"Enterprises are re-thinking their automation strategy and adding more business process assets to their portfolio," said IDC Program VP, Integration and Process Automation, Maureen Fleming. "Our forecast for intelligent process automation will reach $30.5 billion by 2024, and we expect to see newer and simpler types of modelling, workflow and case management cloud software factor more heavily into the portfolio mix."

"Automation remains at the heart of many current digital transformation initiatives," said Senior Research Analyst at 451 Research, part of S&P Global Market Intelligence, Carl Lehmann. "But to industry-leading organisations, automation is more than just a means to reduce redundant and error-prone manual activities or do things faster by streamlining and reducing cycle times. Industry leaders are investing in automation initiatives that bring to bear new resources that can predict change, risk and opportunity, and/or respond to it rapidly. They seek to empower the workforce with newfound intelligence and deliver new forms of value recognised by customers as superior to rivals. When this occurs, digital transformation creates new competitive advantage."

The transaction is subject to the completion of regulatory review and other closing conditions.  Nintex and K2 are working together to close the transaction in the coming weeks.

Deal terms will not be disclosed. 

Media Contact
Kristin Treat
kristin.treat@nintex.com 
cell: (215) 317-9091 

About Nintex
Nintex is the global standard for process management and automation. Today more than 8,000 public and private sector clients across 90 countries turn to the Nintex Platform to accelerate progress on their digital transformation journeys by quickly and easily managing, automating and optimising business processes. Learn more by visiting www.nintex.com and experience how Nintex and its global partner network are shaping the future of Intelligent Process Automation (IPA).

Product or service names mentioned herein may be the trademarks of their respective owners.

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