Category Archives: Business

Press Releases from the Business World. Announcements, Product releases, Appointments.

First Ever AI Travel Insurance Chatbot Launched by VisitorsCoverage


Luna the chatbot

VisitorsCoverage Launches First Travel Insurance AI Chatbot: Luna

We are proud to be the first in the industry to adopt this method of deep learning to better serve global travelers and look forward to continuing to create innovative insurtech solutions.

VisitorsCoverage Inc. announced today the initial launch of their revolutionary AI chatbot, Luna, who will help respond to customer queries and help travelers navigate through the complicated world of travel insurance. The first of its kind in the travel insurance industry, the VisitorsCoverage chatbot was built using artificial intelligence and has machine learning capabilities, allowing it to adapt and grow with every customer interaction to make it smarter and improve accuracy and relevance of responses.

Since its inception in 2006, VisitorsCoverage has been a trailblazer in leading the industry by adopting emerging technologies to improve overall customer experience and setting new benchmarks in digital transformation within the travel insurance space.

A global company, VisitorsCoverage Inc. has customers all over the world in every time zone. The development of this chatbot will help to ensure customers receive top-notch customer service regardless of their location and time difference. The chatbot is yet another way VisitorsCoverage shows dedication to customer education and simplifying travel insurance through innovation.

“We are excited to bring Luna the chatbot to VisitorsCoverage to better assist our global customers around the clock,” said VisitorsCoverage CEO and Founder, Rajeev Shrivastava. “We are proud to be the first in the industry to adopt this method of deep learning to better serve global travelers, and look forward to continuing to create innovative insurtech solutions.”

About VisitorsCoverage Inc. — VisitorsCoverage Inc. is a Silicon Valley-based insurtech company headquartered in Santa Clara, Calif. which provides travel insurance for millions of global travelers in over 175 countries. Founded in 2006 by insurtech pioneer and industry expert Rajeev Shrivastava, VisitorsCoverage is constantly evolving by creating innovative, market-demand products and by continually updating an extensive online knowledgebase for their global clientele. For more information visit http://www.visitorscoverage.com.

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Vendavo Named in New Constellation Research Shortlists™ for CPQ and Price Optimization


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It’s very rewarding to be included in these Constellation Research reports because, from the beginning, our goal has been to support the modern enterprise in profitable deal making. – Alex Hoff, VP, Product Marketing, Vendavo

Vendavo, the market leader in commercial excellence solutions, announced today two of their flagship solutions have been included in Q1 2020 Constellation Shortlists. Vendavo CPQ Cloud has been included in the Configure, Price, Quote (CPQ) Shortlist™ and Vendavo PricePoint has been included in the Price Optimization Shortlist™.

“CPQ and Price Optimization are two key strategies for achieving commercial excellence in today’s increasingly competitive, digital marketplace,” said Alex Hoff, Vice President, Product Management, Vendavo. “It’s very rewarding to be included in these Constellation Research reports because, from the beginning, our goal has been to support the modern enterprise in profitable deal making.”

An integral part of the quote-to-cash business process, CPQ application suites help B2B companies win more deals and maximize profits in a constantly changing, complex business landscape. To be included in the Constellation Shortlist for CPQ, researchers considered ease of use, deal optimization/profitability modeling, CRM integration, broad geographical reach for multilanguage/currency support, workflow management, guided selling, sales accessibility, analytics, role-based reporting and post-sales support.

Vendavo CPQ Cloud and Vendavo Deal Manager have also been included in the Constellation Research 2020 Market Overview for CPQ. The report states: “Vendavo recently upgraded its user experience with an interface redesign. This includes better guidance information for salespeople on deals in progress. The dashboard shows list, target, floor and stretch prices and highlights deal risk based on customer behavior. It can display product and customer-level risk and show commission by deal. The new UI also includes an Admin Console for no-code rules management and configuration.”

To maximize margin and potential revenue on every deal, price optimization solutions help determine and deliver optimal prices and guidance to the sales team. To be included in the Constellation Shortlist for Price Optimization, researchers considered the ability to support multiple pricing models, complete promotion rules, price list management, pricing segmentation prescription, markdown scenarios, dynamic pricing, advanced analytics, machine learning and AI for the prediction of new models and the integration with CPQ.

About Vendavo

Vendavo powers the shift to digital business for the world’s most demanding B2B companies, unlocking value, growing margin and accelerating revenue. With the Vendavo Commercial Excellence platform, companies develop dynamic customer insights and optimal pricing strategies that maximize margin, boost sales effectiveness and improve customer experience. With an annual margin improvement totaling more than $2.5 billion across companies in chemicals, distribution, high-tech and manufacturing, Vendavo delivers cutting-edge analytics and deep industry expertise that help companies stay one step ahead. Vendavo is headquartered in Denver, CO and has offices around the globe. Learn more at Vendavo.com.

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RAM Technologies, Inc. and Medicare Advantage-in-a-Box Ready for CMS Changes to Value Based Insurance Design Model


Overall, the aim of the program is a complete modernization of the Medicare Advantage program and we are pleased to be able to provide our clients with the tools needed to achieve this objective.

RAM Technologies, Inc., the perennial leader in the development of enterprise software for healthcare payers administering Medicare Advantage and Special Needs plans, is proud to announce the value based benefit capabilities available with HEALTHsuite Advantage™ and Medicare Advantage-in-a-Box. The advanced functionality provides health plans with the tools they need to participate in the Centers for Medicare and Medicaid Services’ (CMS) Value-Based Insurance Design (VBID) model.

The advanced value based benefits processing capabilities available with HEALTHsuite Advantage and Medicare Advantage-in-a-Box enable health plans to identify patients who are eligible for the program and then adjust their patient responsibility accordingly. The system provides functionality to identify specific co-payments, coinsurance and / or deductibles that can be waived for patients participating in pre-defined initiatives. VBID functionality includes the ability to reduce cost shares and add supplemental benefits for enrollees with chronic conditions.

In 2020, CMS has expanded the scope of the VBID model, allowing for more health plans to participate including special needs plans (D-SNPs and I-SNPs). Additionally, the list of conditions has increased to include Chronic and Socioeconomic factors and the benefits have also been expanded to include telehealth and Social Determinants of Health (SDOH). 2020 has also seen the elimination of cost shares for high value services as well as disease specific Care Management programs.

In addition, 2021 will see even more changes to the VBID Model, including the incorporation of Hospice / End-of-Life Care which will require the ability to accurately identify members in coaching / disease management; waive the patient responsibility for procedures related to the coaching program; provide support for multiple benefit definitions; and more.

“The goal of the VBID program is to reduce overall costs and enhance the quality of care for beneficiaries. The VBID capabilities available with HEALTHsuite Advantage and Medicare Advantage-in-a-Box meet these needs and provide our clients with the ability to apply the program specific benefits to their membership,” stated Robert A. Tulio, President of RAM Technologies. “Overall, the aim of the program is a complete modernization of the Medicare Advantage program and we are pleased to be able to provide our clients with the tools needed to achieve this objective.”

RAM’s offerings, HEALTHsuite Advantage and Medicare Advantage-in-a-Box, represent a revolution in the way health plans modernize their MA administrative infrastructure. The pre-configured solution deploys out-of-the-box, ready to administer ‘Original Medicare’, thereby slashing implementation durations, eliminating risk and greatly reducing costs. This RAM offering brings robust functions and features including all of the essential core capabilities and complete integration with CMS, and delivers them in a truly innovative fashion.

In addition to the enterprise capabilities provided by HEALTHsuite Advantage and Medicare Advantage-in-a-Box, RAM also makes available solutions from their strategic alliance partners, solutions to facilitate the management of population health, quality, cost containment, analytics and more. These combined solutions represent a one-stop-shop for all of a health plan’s MA needs and the simplest solution for organizations looking to enter the MA market.

About RAM Technologies:

RAM Technologies is the industry leader in helping organizations that are interested in starting a Medicare Advantage plan. Every day more and more people are asking, “How Do I Become a Medicare Advantage Health Plan?” We offer a step-by-step process to succeed. Whether you are a health system looking to transition to Medicare Advantage or a new entity looking for Steps to Succeed as a Medicare Advantage start-up, we can help. To learn more about launching a Medicare Advantage Plan, answering the question, “What do I need to do to start a Medicare Advantage Health Plan?” call (877) 654-8810 x 4 or visit http://www.ramtechinc.com.

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Nomis nSight Arms Financial Institutions with Real-Time Pricing Intelligence


Accessible with zero integration costs, nSight is built on a proprietary Nomis database that combines billions of financial observations with public data and third-party subscription data.

“Nomis nSight combines cutting-edge AI and billions of financial observations, public and private data to create pricing strategy insights for business users.”

Nomis Solutions, a fintech innovator focused on ensuring on-going value creation for the world’s smartest financial institutions, announced the availability of Nomis nSight, a strategic tool for optimally pricing deposits and mortgages in real time. Nomis nSight is an analytic tool for banks, lenders and credit unions that gives their teams fast and powerful information about the markets in which they compete.

Accessible with zero integration costs, nSight is built on a proprietary Nomis database that combines billions of financial observations with public data and third-party subscription data. The final output is a data and visualizations tool that equips pricing managers with the latest pricing intelligence to support smart and profitable business decisions.

“Whether you are trying to decide how to grow your deposits portfolio, or how to beat out the competition in a specific mortgage market, making smart pricing decisions requires continual analysis of large amounts of data—something that many financial institutions simply don’t have the resources to tackle,” said Frank Rohde, president and CEO of Nomis Solutions. “nSight combines cutting-edge AI and billions of financial observations, public and private data to create pricing strategy insights for business users. Whether you’re a data scientist, a deposit product manager, or mortgage loan officer, you can now make better, data-driven pricing decisions to support your business objectives. In a volatile market, deep and real-time insight into pricing is crucial to win”

Product overview

Nomis nSight supports pricing decisions for both deposits and mortgages:

nSight for Deposits

  • Quickly evaluate micro-market price sensitivity to make decisions about how to price and where to promote.
  • Evaluate competitive intensity and supply of deposit dollars within a market to help determine which markets to pursue and which to avoid.
  • Leverage Nomis’ deep market-level knowledge and proprietary data assets to score the attractiveness of any market in the US.
  • Focus marketing dollars on the right audience to maximize campaign impact.

nSight for Mortgages

  • Acquire business intelligence on how pricing cell changes will return a higher margin and more volume.
  • Gain full visibility into the pulse of the market, with live data from BankRate, LendingTree, Zillow, and others.
  • Receive actionable intelligence on where and when to post your rates, which sites are the least competitive, and at what times of day.
  • Take advantage of unique market arbitrage opportunities unknown to competitors.

Where to learn more about Nomis nSight

About the Nomis Platform

The Nomis nSight for pricing dashboard is part of the Nomis Pricing Platform™, which includes Nomis Price Optimizer™, Nomis Price Manager™, and Nomis Deal Manager™. Nomis Price Optimizer uses big-data analytics to help banks define optimal strategies to meet specified volume and profitability targets, the Nomis Deal Manager achieves consistent, personalized pricing and offers that meet both customer needs and bank goals, while Nomis Deal Manager presents pricing and offers via the front line. The Nomis Pricing Platform supports end-to-end visibility that connects back-office pricing decisions with front-line customer engagement.

About Nomis Solutions

Nomis is a fast-growing fintech and price optimization pioneer that is enabling the world’s smartest financial institutions to drive sustained, profitable growth through end-to-end customer-centric pricing capabilities. We do so through our market-leading, cloud-native Nomis Platform™ and team of experts, bringing together cutting-edge big data, machine learning, AI and mission-critical software with deep expertise in consumer behavior, pricing and the financial services industry. The Nomis Platform manages over $2.5 trillion in transaction volume, quotes a price every 60 milliseconds, empowers 14,000+ bankers, and generates nearly $800 million in value annually. To learn more, visit nomissolutions.com.

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Gertex Solutions Expands Presence in Ontario with Acquisition of Freepak Inc.


Gertex Solutions Logo

Gertex Solutions is a leading provider of customized packaging materials, products, and services.

This partnership will allow us to expand the reach of our just-in-time delivery service and offer our customers better, faster and even more reliable service.

Gertex Solutions Inc. (Gertex or the Company), a leading provider of customized packaging materials, products, and services, announced today the acquisition of Freepak Inc. (Freepak) based out of Stoney Creek, Ontario. The addition of Freepak’s team of dedicated employees as well as their expansive warehouse space will allow Gertex to meet the growing demand of its existing clients while also expanding the company’s geographic service coverage within Ontario.

Freepak Inc., owned and operated by husband and wife team Joe and Sharon Perks, has provided quality packaging and shipping supplies to customers in the Stoney Creek and Hamilton areas for more than 25 years. Founded in 1992, Freepak quickly grew a large and devoted client base, leading to an expansion of their facilities in 2006 at which point Joe and Sharon bought out their remaining partners to become the sole owners and operators.

“Freepak’s reputation as a reliable full-service provider of packaging materials, along with their central location in the Stoney Creek area are what attracted us most to them,” said Paul Gertin, co-founder of Gertex Solutions. “This partnership will allow us to expand the reach of our just-in-time delivery service and offer our customers better, faster and even more reliable service. We look forward to a long and prosperous future together.”

Gertex will assume full control of Freepak’s operations beginning March 9, 2020. Representatives from Gertex are already conducting onsite operations at Freepak and will be working closely with their team over a 6-month transition period. Freepak’s warehouse, in combination with Gertex’s existing facility, will bring the company’s total available warehouse space to 85,000 sq. ft.

“Having grown such a large and loyal client base over the last 25 years in business, we wanted to find a buyer who could deliver the same quality of service our customers have come to expect from us – and we found that in Gertex,” said Joe Perks. “Both of our companies are dedicated to delivering high-quality products at competitive prices in the shortest amount of time. We couldn’t be happier with this decision, and we look forward to the success this partnership will generate.”

About Gertex Solutions

Established in 1992 by brothers Brian, Michael, and Paul Gertin, Gertex Solutions is North America’s leading provider of customized packaging materials, products, and services. We partner with industry leaders like Sealed Air, Phoenix, BestPack and others to offer our customers innovative tailor-made solutions to help them reduce labour costs, improve efficiencies, and encourage packaging sustainability. With more than 75,000 sq. ft. of warehouse space and our own fleet of transport vehicles, our clients’ packaging supplies are always in stock and always on time. We are proud to provide excellent customer service, dependability, reliability, and just-in-time delivery to all our clients. For more information, please visit http://www.gertexsolutions.com.

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PACENation Announces Featured Speakers for the 2020 PACENation Summit in Columbus, OH


PACENation announced today the featured speakers for the 2020 PACENation Summit, the national event dedicated to Property Assessed Clean Energy (PACE). PACE is a voluntary financing option that enables property owners to make critical energy, water and resilience upgrades to their homes and businesses.

The Summit will be held in Columbus, OH from March 30-April 1, and will feature over 25 sessions and collaborative workshops with over 90 expert speakers, including capital providers, state and federal policy makers, commercial property owners and representatives from the largest PACE markets across the country. Attendees will have the opportunity to participate in multiple networking receptions, including a She-PACE reception for women working in PACE, an offsite reception sponsored by Bricker & Eckler, a live PACE project tour, and more. To see the full agenda and learn more about the Summit, visit https://pacenation.org/events.

Featured Speakers:

Yaphett El-Amin is the Executive Director of MOKAN Construction Contractors Assistance Center and President of Efficacy Consulting and Development. A former Missouri state legislator, Yaphett has more than 20 years’ experience in the construction industry, specializing in minority business support and workforce development. Over the past 8 years, Yaphett has also built more than 200 affordable housing units for seniors and working families directly in urban communities.                     

W. Craig Fugate served as President Barack Obama’s FEMA Administrator from May 2009 to January 2017. Previously, he served as Florida Governor Jeb Bush’s Emergency Management Director from 2001-2009. Fugate led FEMA through multiple record-breaking disaster years and oversaw the Federal Government’s response to major events such as the Joplin and Moore Tornadoes, Hurricane Sandy, Hurricane Matthew, and the 2016 Louisiana flooding.                    

Lonnie Hendry, Jr. is Vice President of Commercial Real Estate (CRE) product management with Trepp, LLC with a specialization in valuation, appraisals and financial analysis. With a background spanning 16 years in the commercial real estate industry, he is charged with creating and enhancing Trepp’s CRE products and client solutions.  His experience includes conventional multifamily property management and development, commercial and residential leasing, brokerage and appraisal.                     

Glenn Prickett is Founder and Principal of Rock Creek Strategies, LLC. Glenn launched Rock Creek Strategies in 2019, after three decades of leadership in global development, corporate sustainability, and environmental, natural resource, and climate change policy and practice.                    

For more information and to register for the event, visit http://pacenation.org/events.

PACENation is the national nonprofit association that works to expand access to PACE financing. Our members enable millions of American property owners to increase the efficiency and resiliency of their homes and businesses with PACE. To learn more and join PACENation, visit http://pacenation.org.

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How To Save On Auto Insurance Premiums


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“Drivers can get cheaper car insurance if they follow some simple strategies and tips. Check our website to find out more tips and strategies for lowering the premiums,” said Russell Rabichev, Marketing Director of Internet Marketing Company.

Car insurance premiums are determined after analyzing a multitude of factors. Some of them are under direct policyholder’s control, thus helping him to keep prices under control or even lower the costs. Obtaining and comparing car insurance quotes from https://compare-autoinsurance.org/ will help policyholders find better offers.

In order to get better prices, a client should:


  • Adjust deductibles to a higher level. Deductibles represent the sums of money a client pays pay from his own pocket before the insurance company intervenes and covers the rest. By selecting a higher deductible, the client will get cheaper premiums. Many insurance companies allow the driver to select the deductible and the quote will be instantly updated. Install anti-theft devices. Lowering the risk of having the car stolen will be greatly rewarded by insurance companies. Comprehensive car insurance is the policy which covers car theft. And it is really pricey. By adding anti-theft and tracking devices, premiums will be significantly lowered by the insurer. Look for the best devices on the market and read some reviews.
  • Make the vehicle safer. Auto insurance companies rely on statistics all the time. If the client’s car is not considered quite the safest car, he will have to pay more. In order to diminish financial toil, some improvements can be made. Install safety devices that protect both the driver and the passenger in the eventuality of a car crash, different sensors, and warning devices. Having cheaper premiums will help the driver recover the investment. Many online questionnaires ask about installed anti-theft and safety features, in order to provide a discount.
  • Park the car in a safe location. During online quotes, the driver may be asked to provide the address or ZIP code for the place where the car is usually parked. The place where the car is parked is a top influential factor. It is strictly correlated with car theft frequency and vandalism. The best place to park the car overnight is inside a locked garage. However, the second-best choice is in a well-monitored parking lot.
  • Combine auto insurance policies. Bundling insurance policies is a smart way to get cheaper coverage on all combined policies. Usually, it is cheaper to combine multiple insurance services or multiple vehicles under the same contract. However, a policyholder should compare prices after and before bundling and check if he will really save money.

Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

For more information, free quotes and money-saving tips, please visit https://compare-autoinsurance.org/

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Talk of Alabama Features Dale Carnegie of Central and North Alabama President Nancy Covert to Discuss Two New Leadership Programs


At Dale Carnegie we believe in bringing out the greatness in others, and that leadership is about working through/with other people—in trusting and dynamic relationships that inspire, engage, and align efforts—to realize desired organizational outcomes.

Companies need leaders. Promoting high performing persons from within the organization, while common practice across many different industries, isn’t necessarily setting new leaders up for success. To that end, Dale Carnegie of Northern and Central Alabama is delivering two new leadership programs designed to develop emerging leaders while setting the teams within the organization up for success. Talk of Alabama’s Nicole Allshouse spoke with President of Northern and Central Alabama, Nancy Covert, recently to learn more about these new leadership offerings.

Dale Carnegie has recently started delivering 2 new Leadership Programs to address the ever-changing training needs of organizations. Based on the fact that the role leaders play in organizational success is vitally important, these two new programs are addressing the lack of guidance that exists when high performing team members find themselves in a new leadership role; effectively guiding leaders to achieve goals, drive results, and align their teams.

Without guidance, new leaders are left to figure it out for themselves, or fail. Dale Carnegie’s leadership training can speed up the transformation and help to ensure success. The Dale Carnegie Course is a solid foundation for those looking to lead themselves by focusing on their self-confidence and interpersonal skills. The Dale Carnegie Leadership Curriculum addresses additional leadership needs which focus on developing the competencies specific to new and experienced leaders

Dale Carnegie believes in bringing out the greatness in others, and that leadership is about working through/with other people—in trusting and dynamic relationships that inspire, engage, and align efforts—to realize desired organizational outcomes. The successful leader recognizes that leadership is not about doing the work or taking credit for it, but enabling and inspiring others to be successful. While sometimes the leadership role comes with opportunities to dictate, more often it’s about gaining buy-in and commitment through exercising influence patiently and with skill. That means leadership boils down to achieving results through other people.

Dale Carnegie of Central and North Alabama President, Nancy Covert explains, “While this may sound simple, it requires engaging many people or teams, managing competing priorities, providing compelling direction, and trying to figure out how to achieve results without unlimited resources.” Doing this requires that leaders role model essential competencies and apply principles, tools, and processes that bring out the best in people. By doing so, key leadership outcomes emerge which are critical for achieving the leaders desired performance results. Nancy also notes, “Unfortunately, these are skills in which few leaders receive adequate training as they are promoted into positions of leadership.”

***

The Dale Carnegie Difference


  • Human Relations principles that are time-tested, global, timeless and universal, and guide everything that individuals and organizations do.
  • Dale Carnegie provides practical skills that can be applied (not mere theories, buzzwords, or flavors of the month)
  • Being a leader means being responsible for more than just yourself, and that is stressful. That’s why these programs provide practices to help reduce stress and worry.
  • The programs are based on the wisdom and expertise gained from developing leaders longer than anyone else in the marketplace. Rather than trying to have people be someone they’re not, Dale Carnegie helps people bring out their greatness –their authentic self.
  • Expertise from the organization that literally wrote the book on influence and building relationships. The knowledge and skills to work on getting things done through others

Upcoming Programs at Dale Carnegie of Central and North Alabama:

  • Dale Carnegie Course – March 25-27, 2020
  • Dale Carnegie Develop Your Leadership Potential – March 24, 2020
  • Dale Carnegie Leadership Training for Results – May 1, 2020

If you’d like to know more about this or any of the programs Dale Carnegie of Central and North Alabama has to offer, call 205-444-5011 or visit https://birmingham.dalecarnegie.com/events/. Click here to view the full Talk of Alabama segment. https://www.youtube.com/watch?v=n2bhnPCDbxg&feature=youtu.be

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How To Get And Compare Car Insurance Quotes


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“Now it is very easy to get car insurance quotes online, compare prices and get the best deal. And it only takes several minutes,” said Russell Rabichev, Marketing Director of Internet Marketing Company.

Car insurance rates are calculated based on the risk of insuring a person. They directly influence the premiums and overall insurance costs. In order to have an idea of how much they are expected to pay, clients should get free quotes from https://compare-autoinsurance.org/ and compare prices!

There are several rules to follow when comparing quotes:


  • Understand the main factors analyzed by insurance companies. Multiple details will be taken into consideration when analyzing a client and determining premiums. The most influential factors are car’s make and model, driving history, demographic factors, recent claims, and traffic violations and coverage options. Each factor will be analyzed, quantified and added to a premium-calculus formula.
  • After understanding his own risk profile, it is time to get quotes. After understanding how each factor influences the cost, it is time to get quotes and compare prices. There are several ways to get insurance quotes: calling an agent, phone calls or online quotes. Online quotes have become more popular in recent years. Even so, a driver will have to choose whether he will ask quotes from an insurer’s website or from a brokerage website.
  • Brokerage websites will help drivers get multiple quotes with a single search session. Furthermore, all results are obtained using the same data and for the same product. This gives no room for errors. Clients who use brokerage websites can quickly sort offers by prices. But do not be guided only by price. Check what other benefits and bonuses can be obtained by signing a contract
  • There are several easy ways to lower the premiums. Making several changes will help drivers get better rates. Driving less than the average driver, graduating defensive driving courses or installing safety gear will greatly improve the rates. Paying bills on time and keeping a good credit score will also help.

Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

For more information, free quotes and money-saving tips, please visit https://compare-autoinsurance.org/

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New Catalytic Study Shows 93% of Employees Believe Process Automation Will Make Their Jobs Easier


“Our findings confirm that despite all departments seeing the potential of automation, most companies are not achieving their goals and need to rethink the roles, responsibilities and technologies leveraged to ensure greater success,” said Sean Chou, CEO and co-founder of Catalytic.

Catalytic, the easiest-to-use, next-generation digital process automation platform, today announced the findings from its 2020 report on closing the digital maturity gap and scaling process automation enterprise-wide to gain competitive differentiation and ensure exceptional customer experiences.

Catalytic conducted a cross-industry survey of 600 enterprise C-suite leaders, department directors and managers, including dedicated automation leaders. The research report, entitled “The Real State of Automation Progress,” aims to uncover the status of digital transformation and the scaling of automation across enterprises.

Catalytic’s study examined where businesses see themselves compared to competitors in terms of adopting automation tools, how equipped companies and specific departments are to take process automation to the next level, who’s involved in decisions about automation, and what factors hold companies back from reaching digital maturity.

“Our findings confirm that despite all departments seeing the potential of automation, most companies are not achieving their goals and need to rethink the roles, responsibilities and technologies leveraged to ensure greater success,” said Sean Chou, CEO and co-founder of Catalytic. “Specifically, our report underscores why organizations need to look beyond RPA tools to truly scale their automation efforts and adopt a federated model so that multiple lines of business can actively participate while maintaining a strong central governance at the core.”

Key findings from the report include:

The Workforce Is Optimistic About Automation’s Potential to Make Jobs Easier

The report found that as employees get more familiar with process automation, they become more optimistic about its implementation and benefits. For example, 93% of respondents believe automation will make their jobs easier, especially those working within IT, procurement, operations, finance and HR. Findings show that 42% of those who are “unfamiliar” with automation still feel optimistic about its benefits. This percentage increases to 89% of those who are “somewhat familiar” with the concept. Based on this, Catalytic’s study shows that educating employees across departments will heighten their comfort level with automation technology.

Enterprise Overreliance on Centralized Models for Automation Hinders Them From Reaching Digital Maturity

Catalytic’s report found that automation initiatives are heavily centralized with a dedicated team responsible for its implementation and usage. While only 22% of respondents operate in a distributed model, organizations who use this approach to automation view the ROI as much higher than expected. Responses pointed to IT bottlenecks as the biggest enterprise challenge to reaching digital maturity, indicating a need to distribute automation efforts across the organization.

Companies Must Reimagine Roles to Empower Business Users + Amplify IT Teams

Catalytic’s findings prove that digital transformation shouldn’t have gatekeepers – meaning organizations need to reshape how to effectively roll out automation across the business. The IT department represents only 3.7% of the average company and is most effective at providing oversight and governance for projects. Further, when business users deploy their own projects and shift their roles for the future of work, organizations have 27x more resources to scale while eliminating bottlenecks and requirement gaps in the process.

With 61% of automation leaders prioritizing upskilling their staff beyond IT, it’s clear that enterprises are beginning to see the benefits of reimagining how and who plays a part in digital innovations. To assist with upskilling efforts and get employees more involved in decision making, organizations should consider introducing a low-code platform that allows technically-minded business users to build automated workflows for their teams without the need for traditional computer programming skills.

While C-Suite Leaders Feel Optimistic About Their Organizations’ Automation Process, Managers Tell a Different Story

C-suite and managers were asked to characterize the maturity of their automation efforts as “Novice,” “Intermediate,” “Advanced” or “Pro.” The C-suite (21%) is much more likely than managers to characterize their organization’s automation efforts as “Pro,” indicating their view from the top might be clouded and aspirational compared to managers. While 79% of managers cited their automation efforts as “Advanced” or “Intermediate,” only 9% currently rate their strategies as “Pro.” This shows further communication and collaboration between all departments, and the involvement of managers in decision-making and execution is necessary to change the narrative of automation to be more optimistic. This includes using automation to create more opportunities for people on the front lines of an organization to do more meaningful work. Automation initiatives that remain centralized will continue to contribute to the lack of department-specific confidence in automation skills.

To access the full report, please visit this link.

About Catalytic

Catalytic, the next-gen digital process automation provider, supercharges employee productivity with smart workflows. Using Catalytic, anyone can easily build low-code automations that connect systems, data and people so companies can execute higher volumes of work with less time, cost and risk.

In one collaborative platform, IT and non-technical users alike can embed AI, integrations, and data analysis tools into everyday operations. Then, recurring information gathering, document processing, decision-making and reporting become more automatic, rapidly boosting operational efficiency and transforming organizations at scale.

Proven by customers like Bosch, Dentsu Aegis Network, Edwards Elmhurst Hospital, Mayo Clinic, TalentWave, and UL, Catalytic is unlocking up to 5x returns, improving customer experiences and increasing competitive edge for companies globally. To learn more, visit: https://catalytic.com/.

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