Sunrise Consulting Group, Inc. (PINKSHEETS: SNRS) announced today that Sunrise intends to shift a sizeable portion of its focus to the U.S. solar energy market, in order to take advantage of the upcoming policy shifts recently announced by U.S. President Barack Obama. Sunrise has an agreement to acquire up to 60% of Sunrise Solartech Co. Ltd., one of China's largest manufacturers of Photovoltaics (solar PV) products.
Until recently, Sunrise has focused its marketing efforts outside of the U.S., particularly in the European markets where the industry receives generous financial government incentives. Now that the U.S. government has decided to follow suit, Sunrise is moving to position itself more forcefully in the domestic markets as well.
Solar PV is the field of technology and research related to the application of solar cells for energy by converting sunlight directly into electricity. Due to the growing demand for clean sources of energy, solar PV production has been doubling every two years, making it the world's fastest-growing energy technology.
ABOUT SUNRISE CONSULTING GROUP, INC.
Sunrise Consulting Group's mission is to become a premier investment banking and financial group for companies in Asia and the Pacific Rim, bringing value to small and medium sized companies and assisting them in becoming listed on the USA Exchanges. The company's major focal point is mainland China and additional target areas include Hong Kong, Laos, Vietnam, Malaysia, Australia and other Pacific Rim & Southeast Asian countries. Recent growth in these countries has been in the high double digits, and Sunrise Consulting intends to capitalize on this trend by building upon and adding to its current holdings, increasing sales revenues through acquisitions, and continually expanding its portfolio into related areas.
For more information call 949-200-7478 or email SunriseConsultingGroup@gmail.com.
Safe Harbor Statement: This release contains forward-looking statements with respect to the results of operations and business of Sunrise Consulting Group, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.
Thursday, April 30, 2009
Explore Consulting Introduces the NetSuite Connector for CNET ChannelOnline
Explore Consulting, the leading NetSuite Solution Provider and leader in on-demand technologies, announced today the launch of their NetSuite Connector for CNET ChannelOnline. This latest addition to Explore's CloudConnect(TM) integration platform provides pre-built connectivity to allow for seamless automated data exchange between NetSuite and ChannelOnline.
ChannelOnline is a sales-cycle automation solution that's designed to give small to medium-size computer hardware and software resellers all of the operational advantages of their large competitors - empowering them to maximize margins, increase revenues, as well as increase customer satisfaction. ChannelOnline provides resellers with a web-based service that automates key business processes and transactions, giving resellers total management control over the complete sales cycle.
NetSuite customers can now leverage the robust functionality of ChannelOnline's Quoting functionality without all of the duplicate data entry and manual order management. Quotes completed in ChannelOnline are automatically sent to NetSuite to be fulfilled and billed, while order updates are sent back to ChannelOnline to streamline their shipping process and reduce the time it takes to bill and collect payments. Both credit cards and invoicing on terms are supported within NetSuite. Notifications are automatically sent to sales representatives as order status changes, which allows them to be more proactive in their client communications with regards to shipping information, shipment accuracy and billing.
"With CloudConnect, you don't just get a product. You get a complete integration solution with white glove service," said Steve Jones, CEO of Explore Consulting. "The NetSuite Connector for CNET ChannelOnline represents our commitment to not only providing leading integration solutions in the cloud, but facilitating specific business requirements beyond simply passing data from system to system."
Explore has successfully deployed the NetSuite Connector for CNET ChannelOnline for GHA Technologies, a nationally expanding network, computer reseller and systems integrator who currently utilizes Explore's CloudConnect(TM) integration platform. "Explore's subject matter expertise with NetSuite is unmatched and their entire Professional Services team has always acted with a sense of urgency and been committed when service and delivery count," said George Hertzberg, President and Founder of GHA Technologies. The results of connecting CNET and NetSuite with CloudConnect(TM) include tripling annual sales from $29 million to $75 million without increasing staff, eliminating the need to hire additional bookkeepers saving at least $180,000 annually, and greater visibility into accounts receivable allowing enforcement of "strict net 30" policies.
CloudConnect(TM) is the most complete software-as-a-service (SaaS) integration solution available in the market, allowing you to connect virtually any external data source to NetSuite including ERP applications, CRM applications, file systems, middleware, web services or any external database on a completely hosted and managed service in the cloud. Solutions start at only $500 per month with full multi-system communication, robust staging, error handling, notifications and a scheduler. An enterprise solution is also available with additional features including dashboard management with role-based security. Once deployed, the solution is hosted in an industry-leading data center with a 99.9% network uptime guarantee and it is managed by the same team that developed the integration solution providing the highest possible level of ongoing support.
About Explore Consulting
Based in Bellevue, Wash., Explore Consulting was founded in 2001 and is a professional services company dedicated to providing innovative and cost-effective solutions for their customers' database and IT systems needs. Explore Consulting is the largest NetSuite Solution Provider and reseller in the Northwestern United States, has been a 4-time NetSuite Star Performer and is a leading Microsoft .Net Solution Provider. For more information, visit www.exploreconsulting.com.
About NetSuite Inc.
NetSuite Inc. is a leading vendor of on-demand, integrated business management software suites for small and midsized businesses. NetSuite enables companies to manage core business operations in a single system, which includes Accounting / Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and eCommerce.
ChannelOnline is a sales-cycle automation solution that's designed to give small to medium-size computer hardware and software resellers all of the operational advantages of their large competitors - empowering them to maximize margins, increase revenues, as well as increase customer satisfaction. ChannelOnline provides resellers with a web-based service that automates key business processes and transactions, giving resellers total management control over the complete sales cycle.
NetSuite customers can now leverage the robust functionality of ChannelOnline's Quoting functionality without all of the duplicate data entry and manual order management. Quotes completed in ChannelOnline are automatically sent to NetSuite to be fulfilled and billed, while order updates are sent back to ChannelOnline to streamline their shipping process and reduce the time it takes to bill and collect payments. Both credit cards and invoicing on terms are supported within NetSuite. Notifications are automatically sent to sales representatives as order status changes, which allows them to be more proactive in their client communications with regards to shipping information, shipment accuracy and billing.
"With CloudConnect, you don't just get a product. You get a complete integration solution with white glove service," said Steve Jones, CEO of Explore Consulting. "The NetSuite Connector for CNET ChannelOnline represents our commitment to not only providing leading integration solutions in the cloud, but facilitating specific business requirements beyond simply passing data from system to system."
Explore has successfully deployed the NetSuite Connector for CNET ChannelOnline for GHA Technologies, a nationally expanding network, computer reseller and systems integrator who currently utilizes Explore's CloudConnect(TM) integration platform. "Explore's subject matter expertise with NetSuite is unmatched and their entire Professional Services team has always acted with a sense of urgency and been committed when service and delivery count," said George Hertzberg, President and Founder of GHA Technologies. The results of connecting CNET and NetSuite with CloudConnect(TM) include tripling annual sales from $29 million to $75 million without increasing staff, eliminating the need to hire additional bookkeepers saving at least $180,000 annually, and greater visibility into accounts receivable allowing enforcement of "strict net 30" policies.
CloudConnect(TM) is the most complete software-as-a-service (SaaS) integration solution available in the market, allowing you to connect virtually any external data source to NetSuite including ERP applications, CRM applications, file systems, middleware, web services or any external database on a completely hosted and managed service in the cloud. Solutions start at only $500 per month with full multi-system communication, robust staging, error handling, notifications and a scheduler. An enterprise solution is also available with additional features including dashboard management with role-based security. Once deployed, the solution is hosted in an industry-leading data center with a 99.9% network uptime guarantee and it is managed by the same team that developed the integration solution providing the highest possible level of ongoing support.
About Explore Consulting
Based in Bellevue, Wash., Explore Consulting was founded in 2001 and is a professional services company dedicated to providing innovative and cost-effective solutions for their customers' database and IT systems needs. Explore Consulting is the largest NetSuite Solution Provider and reseller in the Northwestern United States, has been a 4-time NetSuite Star Performer and is a leading Microsoft .Net Solution Provider. For more information, visit www.exploreconsulting.com.
About NetSuite Inc.
NetSuite Inc. is a leading vendor of on-demand, integrated business management software suites for small and midsized businesses. NetSuite enables companies to manage core business operations in a single system, which includes Accounting / Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and eCommerce.
Building on Growth, Virtify Adds to Executive Team and Expands Commercial Operations
Virtify, Inc., the market leader in Enterprise Content Compliance solutions for life sciences, today announced the addition of Stephen Bergson, former Ernst & Young and Capgemini executive, as executive vice president of commercial operations. Mr. Bergson will lead the company's worldwide sales and marketing efforts and report to Virtify's president and founder, Dr. Satish Tadikonda. The company also announced key additions to its sales and marketing team as it expands operations to meet increasing demand for its Enterprise Content Compliance solutions in the pharmaceutical, biotechnology, medical device, animal health, and food industries.
Mr. Bergson has been in the management consulting and software services industries for 25 years with a strong focus on life sciences. Before joining Virtify, he was an independent consultant for a global management consulting firm where he led the design and commercialization of a life sciences business process outsourcing practice. Prior to that, he was a vice president at Capgemini in its Global Life Sciences practice. Before joining Capgemini, Mr. Bergson was the North American CEO at ARINSO International, a provider of management consulting services and HR business process outsourcing for Fortune 250 corporations. Prior to ARINSO, Mr. Bergson was a principal partner in the Ernst & Young Global Life Sciences practice with responsibilities for core service areas across the global practice. For more details visit the company section at www.virtify.com/company-management-team.htm#stephen_bergson
"I am extremely excited about the depth and breadth of our solutions and the benefits that we are extending to our customers," said Mr. Bergson. "Virtify has built a robust software platform that is purpose-built for the unique regulatory content management and compliance requirements of life sciences companies and has truly raised the bar for success."
Mr. Bergson has already begun to build out his sales and marketing team at Virtify with the hiring of Dwight Galler as senior director of marketing and Michael Engro as regional director of sales.
Mr. Galler will lead the company's corporate and product marketing functions. He brings over 20 years of experience in technology and B2B environments, most recently as vice president of marketing with Bridgeline Software and GMI, of Seattle, Washington. Previously, Mr. Galler was vice president of marketing for enterprise Web survey firm Perseus (now Vovici), where he helped establish the company as the industry leader in the new category of "Enterprise Feedback Management" solutions. Prior to Perseus, Mr. Galler was director of marketing communications for Netegrity, Inc., where he built and led the company's outbound marketing, corporate identity, and lead generation efforts for close to five years.
Mr. Engro has over 20 plus years of sales and business development experience in technology and B2B environments with the past 10 years focused exclusively in the life sciences Industry. For the last four years, Mr. Engro held a sales management position with Capgemini US LLC where he was responsible for major account management and development in both the pharmaceutical and bio-technology industries. Prior to Capgemini US LLC, Mr. Engro was director of sales and marketing for First Consulting Group (now CSC), director of sales and national accounts for CDI and director of sales for ASI.
Building on Growth
As global health and regulatory authorities continue to push for tighter controls and electronic standards, many life sciences organizations find themselves challenged due to outdated processes that are fragmented and paper-based. To enable accurate and timely compliance customers are demanding new technologies and systems that are modeled on best-practices and easily configurable to adapt to changing regulatory requirements.
Virtify has emerged as an innovator and technology leader in Enterprise Content Compliance for life sciences. The company has quietly built a strong reputation and following in the life sciences industry where R&D, clinical trial and submissions activities have become increasingly regulated. Virtify's easy-to-use Virtx software suite is the industry's only solution to provide a secure, collaborative web-based environment for managing regulated content throughout the entire product continuum -- from pre-clinical through product registration to commercialization. The Virtify product suite is highly modular and built to comply with a variety of different global standards and mandates surrounding clinical trial transparency, eCTD, SPL/PLR/PIM, and submissions planning and tracking. Its open architecture is standards-based and designed to leverage a company's existing infrastructure including standard security systems, databases and legacy document management systems.
"With Steve and his team, we've added a strong combination of strategic consulting, solution development and go-to-market leadership skills that will enable us to fully leverage this opportunity and help take the company to the next level. Steve is a great addition to the Virtify team," said Dr. Satish Tadikonda, president and founder of Virtify Inc.
About Virtify
Virtify is the market leader in Enterprise Content Compliance solutions for Life Sciences. Organizations rely on Virtify solutions to reduce time-to-market, risk, and costs by managing and automating the complex regulatory compliance and content exchange requirements throughout the product life cycle. Virtify's easy-to-use Virtx software suite is the industry's only solution to provide a secure, collaborative web-based environment for managing regulated content throughout the entire continuum -- from pre-clinical through product registration to commercialization. The company plays a leadership role in the development of global regulatory standards and is an active participant in a variety of standards committees. Virtify's software products combined with comprehensive professional services and deep domain expertise enhance quality and compliance for some of the world's leading life sciences companies.
Virtify is headquartered in Cambridge, Massachusetts (USA) with facilities in Europe and Asia. For more information, visit www.virtify.com.
Mr. Bergson has been in the management consulting and software services industries for 25 years with a strong focus on life sciences. Before joining Virtify, he was an independent consultant for a global management consulting firm where he led the design and commercialization of a life sciences business process outsourcing practice. Prior to that, he was a vice president at Capgemini in its Global Life Sciences practice. Before joining Capgemini, Mr. Bergson was the North American CEO at ARINSO International, a provider of management consulting services and HR business process outsourcing for Fortune 250 corporations. Prior to ARINSO, Mr. Bergson was a principal partner in the Ernst & Young Global Life Sciences practice with responsibilities for core service areas across the global practice. For more details visit the company section at www.virtify.com/company-management-team.htm#stephen_bergson
"I am extremely excited about the depth and breadth of our solutions and the benefits that we are extending to our customers," said Mr. Bergson. "Virtify has built a robust software platform that is purpose-built for the unique regulatory content management and compliance requirements of life sciences companies and has truly raised the bar for success."
Mr. Bergson has already begun to build out his sales and marketing team at Virtify with the hiring of Dwight Galler as senior director of marketing and Michael Engro as regional director of sales.
Mr. Galler will lead the company's corporate and product marketing functions. He brings over 20 years of experience in technology and B2B environments, most recently as vice president of marketing with Bridgeline Software and GMI, of Seattle, Washington. Previously, Mr. Galler was vice president of marketing for enterprise Web survey firm Perseus (now Vovici), where he helped establish the company as the industry leader in the new category of "Enterprise Feedback Management" solutions. Prior to Perseus, Mr. Galler was director of marketing communications for Netegrity, Inc., where he built and led the company's outbound marketing, corporate identity, and lead generation efforts for close to five years.
Mr. Engro has over 20 plus years of sales and business development experience in technology and B2B environments with the past 10 years focused exclusively in the life sciences Industry. For the last four years, Mr. Engro held a sales management position with Capgemini US LLC where he was responsible for major account management and development in both the pharmaceutical and bio-technology industries. Prior to Capgemini US LLC, Mr. Engro was director of sales and marketing for First Consulting Group (now CSC), director of sales and national accounts for CDI and director of sales for ASI.
Building on Growth
As global health and regulatory authorities continue to push for tighter controls and electronic standards, many life sciences organizations find themselves challenged due to outdated processes that are fragmented and paper-based. To enable accurate and timely compliance customers are demanding new technologies and systems that are modeled on best-practices and easily configurable to adapt to changing regulatory requirements.
Virtify has emerged as an innovator and technology leader in Enterprise Content Compliance for life sciences. The company has quietly built a strong reputation and following in the life sciences industry where R&D, clinical trial and submissions activities have become increasingly regulated. Virtify's easy-to-use Virtx software suite is the industry's only solution to provide a secure, collaborative web-based environment for managing regulated content throughout the entire product continuum -- from pre-clinical through product registration to commercialization. The Virtify product suite is highly modular and built to comply with a variety of different global standards and mandates surrounding clinical trial transparency, eCTD, SPL/PLR/PIM, and submissions planning and tracking. Its open architecture is standards-based and designed to leverage a company's existing infrastructure including standard security systems, databases and legacy document management systems.
"With Steve and his team, we've added a strong combination of strategic consulting, solution development and go-to-market leadership skills that will enable us to fully leverage this opportunity and help take the company to the next level. Steve is a great addition to the Virtify team," said Dr. Satish Tadikonda, president and founder of Virtify Inc.
About Virtify
Virtify is the market leader in Enterprise Content Compliance solutions for Life Sciences. Organizations rely on Virtify solutions to reduce time-to-market, risk, and costs by managing and automating the complex regulatory compliance and content exchange requirements throughout the product life cycle. Virtify's easy-to-use Virtx software suite is the industry's only solution to provide a secure, collaborative web-based environment for managing regulated content throughout the entire continuum -- from pre-clinical through product registration to commercialization. The company plays a leadership role in the development of global regulatory standards and is an active participant in a variety of standards committees. Virtify's software products combined with comprehensive professional services and deep domain expertise enhance quality and compliance for some of the world's leading life sciences companies.
Virtify is headquartered in Cambridge, Massachusetts (USA) with facilities in Europe and Asia. For more information, visit www.virtify.com.
Convergys Partners with IP Integration to Deliver Enhanced IVR and Speech Automation Solutions to the UK Market
Convergys Corporation, a global leader in relationship management, announced today that IP Integration, a leading UK systems integrator, has entered into a partnership to resell Convergys’ award-winning Interactive Voice Response (IVR) voice portal and speech automation solutions to the UK contact center marketplace.
IP Integration works with clients to derive the maximum benefit from best-of-breed technology products and services that are flexibly tailored to meet their contact center needs. A strong track record of developing robust CTI middleware and seamlessly designing, developing, and delivering complex, integrated contact center applications positions IP Integration as a leader within this space.
“Through our new partnership with Convergys, IP Integration now offers the world’s most sophisticated IVR and speech automation solutions available to our clients, which include retail, the public sector, and the most respected brands in travel and gaming in the UK,” said Dave Glasgow, Sales Director, IP Integration. “Convergys’ voice response and speech automation solutions deliver the tangible value that meets our clients’ high expectations. Combined with their broader customer care portfolio and the high level of expertise available from our local Convergys team, we fully anticipate a successful long-term partnership.”
Proprietary research conducted by Convergys found that the number of consumers preferring automated channels has doubled in the last four years. The research shows that 55 percent of the population prefers having the option to use self-service automation to find their own resolution versus waiting to speak with someone on the phone.
“As our own research shows, customers like having options when they contact a company. Companies must balance automated self-service with agent-assisted service in order to deliver the service experience customers want,” said Mike Betzer, president of Relationship Technology Management at Convergys. “Together with IP Integration, which has a strong reputation for its agility, technical credibility, and focus on the provision of next generation customer care, we have the ability to meet the need for greater self-service through advanced IVR/voice portal and speech automation solutions in the United Kingdom.”
Convergys helps clients uncover the true behavior of customers across self-service and live agent channels, balancing this with business objectives to help define and implement changes to business processes.
Beyond its analytics consulting and contact center optimization expertise, Convergys supports speech application design, development, deployment and on-going management and tuning. Convergys helps clients improve the efficiency and quality of service, reduce technology risk, and enhance the customer experience.
About IP Integration
IP Integration helps companies achieve the twin goals of increasing customer service whilst simultaneously reducing operational costs through appropriate deployment of communication technologies. From the public network to the desktop, IP Integration applies knowledge, experience, and clear thinking to business communications and IT strategies. The company identifies, designs, implements and supports solutions that will allow an organization to deliver its business message clearly. Contact Telephone: 0800 316 6670. www.ipintegration.com
About Convergys
Convergys Corporation (NYSE: CVG) is a global leader in relationship management. We provide solutions that drive more value from the relationships our clients have with their customers and employees.
Convergys turns these everyday interactions into a source of profit and strategic advantage for our clients.
For more than 30 years, our unique combination of domain expertise, operational excellence, and innovative technologies has delivered process improvement and actionable business insight to clients that now span more than 70 countries and 35 languages.
Convergys is a member of the S&P 500 and has been voted a Fortune Most Admired Company for nine consecutive years. We have approximately 75,000 employees in 84 customer contact centers and other facilities in the United States, Canada, Latin America, Europe, the Middle East, and Asia, and our global headquarters in Cincinnati, Ohio. For more information, visit www.convergys.com.
IP Integration works with clients to derive the maximum benefit from best-of-breed technology products and services that are flexibly tailored to meet their contact center needs. A strong track record of developing robust CTI middleware and seamlessly designing, developing, and delivering complex, integrated contact center applications positions IP Integration as a leader within this space.
“Through our new partnership with Convergys, IP Integration now offers the world’s most sophisticated IVR and speech automation solutions available to our clients, which include retail, the public sector, and the most respected brands in travel and gaming in the UK,” said Dave Glasgow, Sales Director, IP Integration. “Convergys’ voice response and speech automation solutions deliver the tangible value that meets our clients’ high expectations. Combined with their broader customer care portfolio and the high level of expertise available from our local Convergys team, we fully anticipate a successful long-term partnership.”
Proprietary research conducted by Convergys found that the number of consumers preferring automated channels has doubled in the last four years. The research shows that 55 percent of the population prefers having the option to use self-service automation to find their own resolution versus waiting to speak with someone on the phone.
“As our own research shows, customers like having options when they contact a company. Companies must balance automated self-service with agent-assisted service in order to deliver the service experience customers want,” said Mike Betzer, president of Relationship Technology Management at Convergys. “Together with IP Integration, which has a strong reputation for its agility, technical credibility, and focus on the provision of next generation customer care, we have the ability to meet the need for greater self-service through advanced IVR/voice portal and speech automation solutions in the United Kingdom.”
Convergys helps clients uncover the true behavior of customers across self-service and live agent channels, balancing this with business objectives to help define and implement changes to business processes.
Beyond its analytics consulting and contact center optimization expertise, Convergys supports speech application design, development, deployment and on-going management and tuning. Convergys helps clients improve the efficiency and quality of service, reduce technology risk, and enhance the customer experience.
About IP Integration
IP Integration helps companies achieve the twin goals of increasing customer service whilst simultaneously reducing operational costs through appropriate deployment of communication technologies. From the public network to the desktop, IP Integration applies knowledge, experience, and clear thinking to business communications and IT strategies. The company identifies, designs, implements and supports solutions that will allow an organization to deliver its business message clearly. Contact Telephone: 0800 316 6670. www.ipintegration.com
About Convergys
Convergys Corporation (NYSE: CVG) is a global leader in relationship management. We provide solutions that drive more value from the relationships our clients have with their customers and employees.
Convergys turns these everyday interactions into a source of profit and strategic advantage for our clients.
For more than 30 years, our unique combination of domain expertise, operational excellence, and innovative technologies has delivered process improvement and actionable business insight to clients that now span more than 70 countries and 35 languages.
Convergys is a member of the S&P 500 and has been voted a Fortune Most Admired Company for nine consecutive years. We have approximately 75,000 employees in 84 customer contact centers and other facilities in the United States, Canada, Latin America, Europe, the Middle East, and Asia, and our global headquarters in Cincinnati, Ohio. For more information, visit www.convergys.com.
EXENET Announces M&A Technology Consulting and Integration Services for Hedge Funds
EXENET LLC, a leading provider of IT consulting, integration and outsourcing services for law firms, alternative investment and wealth management companies, today announced a new Mergers & Acquisitions Technology Consulting and Integration Service for Hedge Funds. EXENET will provide firms with management consulting, post-merger integration and Managed Infrastructure IT services to reduce technology
risks and improve operational success.
"As marketplace dynamics changed with the financial crisis, the rate of hedge fund mergers has been increasing. While mergers ensure financial viability for the combined entities, they present managers with new challenges such as consolidation of disparate systems, connectivity across multiple locations, accommodating a larger user base and merging of two IT organizations," said Umit Cinali, CEO of EXENET. "EXENET is bringing its significant technology mergers experience, gathered from its work with large legal and financial firms, to advise management on the most cost effective approach to consolidating operations while mitigating technology risks."
EXENET will provide pre-merger consulting, including due diligence, and pre- and post-planning of integration projects. The services also include benchmarking of infrastructure performance before and after a merger, along with enterprise-class processes and procedures to maintain services at optimum levels for a combined entity. During the merger process, EXENET undertakes data center moves and consolidation of IT assets, migrations of prime broker connections as well as support for market data, desktop systems, email and hand-held devices. EXENET also advises newly combined firms on managing IT, including the structuring of the IT department, economics of servicing a larger firm, and how to find synergistic savings.
"Funds considering or undergoing a merger or an acquisition are often doing so because of declining assets and to diversify their investment strategies, and many do not have the resources or internal expertise to adequately plan and implement a consolidation of two or more firms' infrastructures," said Arup Das, EXENET's Chief Technology and Strategy Officer. "EXENET provides the insight and expertise to help firms not only consolidate their systems, but also identify ways to reduce costs by providing a full evaluation of both entities and creating more efficient and sustainable infrastructure, with possible migration to newer technologies in the process."
About EXENET
EXENET LLC, headquartered in New York City, is a provider of IT consulting, integration and outsourcing services for specialized markets, including legal, alternative investment and wealth management. EXENET offers enterprise-class solutions ranging from fully outsourced IT services through its state-of-the art Network Operations Center (NOC) to M&A consulting, IT asset consolidation and global deployments. The company's customized IT-as-a-Service approach is designed to reduce risk, enable business agility, and lower operating costs to help firms increase returns. For more information, visit www.exenet.com.
risks and improve operational success.
"As marketplace dynamics changed with the financial crisis, the rate of hedge fund mergers has been increasing. While mergers ensure financial viability for the combined entities, they present managers with new challenges such as consolidation of disparate systems, connectivity across multiple locations, accommodating a larger user base and merging of two IT organizations," said Umit Cinali, CEO of EXENET. "EXENET is bringing its significant technology mergers experience, gathered from its work with large legal and financial firms, to advise management on the most cost effective approach to consolidating operations while mitigating technology risks."
EXENET will provide pre-merger consulting, including due diligence, and pre- and post-planning of integration projects. The services also include benchmarking of infrastructure performance before and after a merger, along with enterprise-class processes and procedures to maintain services at optimum levels for a combined entity. During the merger process, EXENET undertakes data center moves and consolidation of IT assets, migrations of prime broker connections as well as support for market data, desktop systems, email and hand-held devices. EXENET also advises newly combined firms on managing IT, including the structuring of the IT department, economics of servicing a larger firm, and how to find synergistic savings.
"Funds considering or undergoing a merger or an acquisition are often doing so because of declining assets and to diversify their investment strategies, and many do not have the resources or internal expertise to adequately plan and implement a consolidation of two or more firms' infrastructures," said Arup Das, EXENET's Chief Technology and Strategy Officer. "EXENET provides the insight and expertise to help firms not only consolidate their systems, but also identify ways to reduce costs by providing a full evaluation of both entities and creating more efficient and sustainable infrastructure, with possible migration to newer technologies in the process."
About EXENET
EXENET LLC, headquartered in New York City, is a provider of IT consulting, integration and outsourcing services for specialized markets, including legal, alternative investment and wealth management. EXENET offers enterprise-class solutions ranging from fully outsourced IT services through its state-of-the art Network Operations Center (NOC) to M&A consulting, IT asset consolidation and global deployments. The company's customized IT-as-a-Service approach is designed to reduce risk, enable business agility, and lower operating costs to help firms increase returns. For more information, visit www.exenet.com.
SMART Business Advisory and Consulting and CorrectNet Establish New Integrated Wealth Management Operations Platform Initiative
SMART Business Advisory and Consulting, a premier, full-service independent provider of financial advisory and business consulting services, has established a Client Operations Reporting practice designed to meet the emerging challenges of the rapidly evolving wealth management landscape. This initiative will be another component of SMART’s Financial Services Consulting Services practice.
This SMART practice will enable asset managers and the investment community to rapidly access and accurately evaluate critical information needed to manage their investment portfolios. The information provided through the investor reporting initiative will automate and improve the process of raising client capital, due diligence support, client reporting, client servicing, business performance and portfolio transparency.
SMART and CorrectNet, the market leader in managed service-based information delivery and client reporting for many of the world’s largest investment management firms, will design and enable world class wealth management operations solutions for clients. In this structure, SMART’s wealth management consultants will work with clients to help determine their optimal investor and operational requirements and develop appropriate business process and reporting strategies. CorrectNet will provide the workflow, data enrichment and presentation solutions needed to satisfy investor and operations reporting requirements as a managed service.
“We are pleased to have the opportunity to work with CorrectNet on this new initiative. At SMART, we are focused on creating a comprehensive suite of services to provide the global investor community with the world class solutions needed to meet the increasing operational demands for all the key aspects of our investment management client base,” said Steve Samek, Chief Executive Officer of SMART Business Advisory and Consulting. “In particular, helping the investment community identify and meet new standards of reporting transparency in the new world of enterprise risk management will be critical to their success going forward.”
“Since our founding in 1997, CorrectNet has been devoted to providing game changing approaches to satisfy the toughest transparency and reporting standards of leading hedge funds, funds of funds, fund administrators and prime brokers. Working with SMART, we see the ability to generate a new and significantly higher level of service that will help establish new standards of integrated client operations for the investment community,” observed Robert J. Miller, founding principal and CEO of CorrectNet.
ABOUT SMART
SMART Business Advisory and Consulting, LLC is a premier, full-service independent provider of financial advisory and business consulting services, serving clients throughout the US and globally. SMART offers innovative solutions to public and private companies in the areas of financial advisory and business consulting, technology, business process, accounting, compensation and benefits, and tax. SMART Business Advisory and Consulting, LLC and SMART and Associates, LLP have an alternative practice structure. The two companies are separate and independent legal entities that work together to meet clients’ business needs. SMART Business Advisory and Consulting, LLC is not a licensed CPA firm. Attest Services are offered through SMART and Associates, LLP, Certified Public Accountants.
ABOUT CORRECTNET
CorrectNet is the market leader in managed service-based information delivery and client reporting for asset management firms and institutions. Founded in 1997, CorrectNet provides infrastructure, operations and people to manage the aggregation, enrichment, quality assurance and formatting of complex investment data, delivered through rich reporting web portals to investors, portfolio managers, operations teams and executives. CorrectNet’s managed service supports over 600 implementations, processing over two million data feeds per day and serving over 500,000 users; providing firms with more information, more frequently and with more flexibility. For more information about CorrectNet, visit www.correctnet.com.
This SMART practice will enable asset managers and the investment community to rapidly access and accurately evaluate critical information needed to manage their investment portfolios. The information provided through the investor reporting initiative will automate and improve the process of raising client capital, due diligence support, client reporting, client servicing, business performance and portfolio transparency.
SMART and CorrectNet, the market leader in managed service-based information delivery and client reporting for many of the world’s largest investment management firms, will design and enable world class wealth management operations solutions for clients. In this structure, SMART’s wealth management consultants will work with clients to help determine their optimal investor and operational requirements and develop appropriate business process and reporting strategies. CorrectNet will provide the workflow, data enrichment and presentation solutions needed to satisfy investor and operations reporting requirements as a managed service.
“We are pleased to have the opportunity to work with CorrectNet on this new initiative. At SMART, we are focused on creating a comprehensive suite of services to provide the global investor community with the world class solutions needed to meet the increasing operational demands for all the key aspects of our investment management client base,” said Steve Samek, Chief Executive Officer of SMART Business Advisory and Consulting. “In particular, helping the investment community identify and meet new standards of reporting transparency in the new world of enterprise risk management will be critical to their success going forward.”
“Since our founding in 1997, CorrectNet has been devoted to providing game changing approaches to satisfy the toughest transparency and reporting standards of leading hedge funds, funds of funds, fund administrators and prime brokers. Working with SMART, we see the ability to generate a new and significantly higher level of service that will help establish new standards of integrated client operations for the investment community,” observed Robert J. Miller, founding principal and CEO of CorrectNet.
ABOUT SMART
SMART Business Advisory and Consulting, LLC is a premier, full-service independent provider of financial advisory and business consulting services, serving clients throughout the US and globally. SMART offers innovative solutions to public and private companies in the areas of financial advisory and business consulting, technology, business process, accounting, compensation and benefits, and tax. SMART Business Advisory and Consulting, LLC and SMART and Associates, LLP have an alternative practice structure. The two companies are separate and independent legal entities that work together to meet clients’ business needs. SMART Business Advisory and Consulting, LLC is not a licensed CPA firm. Attest Services are offered through SMART and Associates, LLP, Certified Public Accountants.
ABOUT CORRECTNET
CorrectNet is the market leader in managed service-based information delivery and client reporting for asset management firms and institutions. Founded in 1997, CorrectNet provides infrastructure, operations and people to manage the aggregation, enrichment, quality assurance and formatting of complex investment data, delivered through rich reporting web portals to investors, portfolio managers, operations teams and executives. CorrectNet’s managed service supports over 600 implementations, processing over two million data feeds per day and serving over 500,000 users; providing firms with more information, more frequently and with more flexibility. For more information about CorrectNet, visit www.correctnet.com.
Wednesday, April 29, 2009
Aon Consulting Announces U.S. Senior Vice President Promotions
Aon Consulting Worldwide, the global human capital consulting organization of Aon Corporation (NYSE: AOC), announced today that Daniel Russell, James Ritchie, Nina Zazzara, Kristine Klepper and Rich Walsh were promoted to senior vice president in their respective practice groups across the country.
"Promotion to senior vice president represents a distinguished accomplishment and significant career milestone," said Kathryn Hayley, CEO of Aon Consulting. "I am proud to acknowledge the significant achievements of these five colleagues. Their dedication and active leadership is one example of how Aon Consulting continues to recruit and retain the best talent in the industry."
Atlanta
* Daniel Russell, Human Capital. Russell serves as the Southeast Regional Practice Leader for the Human Capital Consulting practice and is responsible for Aon's communications, organizational change and talent service offerings in the region. Recent assignments have included restructuring change management, talent management and leadership development for Fortune 500 clients around the country. Russell has more than 15 years of experience in designing and implementing high impact HR programs with clients in a variety of industries. He is a member of the Society for Industrial and Organizational Psychology.
Baltimore
* James Ritchie, Retirement. Ritchie is a senior actuary and has 19 years of experience in the design, valuation and administration of defined benefit and defined contribution retirement plans. He also has experience in assisting clients with post retirement medical benefits and federal law compliance. Recent assignments have included helping clients navigate through retirement design and funding under the Pension Protection Act, assisting government clients with funding and reporting of GASB 45 liabilities, and assisting clients in managing pension and retiree medical liabilities reported on their income statements and balance sheets. Ritchie is an associate of the Society of Actuaries, an Enrolled Actuary under ERISA and a member of the American Academy of Actuaries.
Parsippany, NJ
* Nina Zazzara, Health & Benefits. Zazzara serves as the local practice leader for Aon Consulting's Employee Benefits Group in Aon's Parsippany, N.J. office. She has more than 20 years of experience in creating strategic, customized solutions for clients on managed care, consumerism, retiree medical, life, disability and behavioral health programs. She has significant experience with employers in the healthcare and retail industries. Past assignments have included assisting clients with the design, evaluation, and/or administration of flexible benefits, cost management studies, alternative health care products and providers, and employee attitude survey design and analysis.
Somerset, NJ
* Kristine Klepper, Health and Benefits. Klepper serves as the local market leader in the greater New York/New Jersey market. She has more than 18 years of experience in health and welfare consulting, and she specializes in designing and implementing employee benefit programs for large employers. Recent client projects have included providing strategic consulting in redesigning health and benefit programs, developing health promotion strategies and managing the marketing process for a large public employer. Klepper holds the Certified Employee Benefit Specialist designation. She also is one of the founding members of the Central New Jersey Chapter of ISCEBS.
Winston-Salem, N.C.
* Rich Walsh, Key Account Manager Group. Walsh has more than 20 years of experience in assisting clients with Human Capital issues, and in particular with the design, administration, funding and communication of employee benefit plans and with talent management strategies. His primary responsibilities include delivering consulting services to clients as account manager, as well as providing retirement and actuarial consulting services to selected key accounts. Walsh is an associate of the Society of Actuaries and a member of the American Academy of Actuaries.
About Aon Consulting
Aon Consulting Worldwide is among the top global human capital consulting firms, with 2008 revenues of $1.358 billion and more than 6,300 professionals in 117 offices worldwide. Aon Consulting works with organizations to improve business performance and shape the workplace of the future through employee benefits, talent management and rewards strategies and solutions. Aon Consulting was named the best employee benefit consulting firm by the readers of Business Insurance magazine in 2006, 2007 and 2008.
About Aon
Aon Corporation (NYSE: AOC) is the leading global provider of risk management services, insurance and reinsurance brokerage, and human capital consulting. Through its more than 37,000 colleagues worldwide, Aon readily delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Aon's industry-leading global resources and technical expertise are delivered locally through more than 500 offices in more than 120 countries. Named the world's best broker by Euromoney magazine's 2008 and 2009 Insurance Survey, Aon also ranked highest on Business Insurance's listing of the world's largest insurance brokers based on commercial retail, wholesale, reinsurance and personal lines brokerage revenues in 2008. A.M. Best deemed Aon the number one insurance broker based on brokerage revenues in 2007 and 2008, and Aon was voted best insurance intermediary, best reinsurance intermediary and best employee benefits consulting firm in 2007 and 2008 by the readers of Business Insurance. For more information on Aon, log onto http://www.aon.com/.
"Promotion to senior vice president represents a distinguished accomplishment and significant career milestone," said Kathryn Hayley, CEO of Aon Consulting. "I am proud to acknowledge the significant achievements of these five colleagues. Their dedication and active leadership is one example of how Aon Consulting continues to recruit and retain the best talent in the industry."
Atlanta
* Daniel Russell, Human Capital. Russell serves as the Southeast Regional Practice Leader for the Human Capital Consulting practice and is responsible for Aon's communications, organizational change and talent service offerings in the region. Recent assignments have included restructuring change management, talent management and leadership development for Fortune 500 clients around the country. Russell has more than 15 years of experience in designing and implementing high impact HR programs with clients in a variety of industries. He is a member of the Society for Industrial and Organizational Psychology.
Baltimore
* James Ritchie, Retirement. Ritchie is a senior actuary and has 19 years of experience in the design, valuation and administration of defined benefit and defined contribution retirement plans. He also has experience in assisting clients with post retirement medical benefits and federal law compliance. Recent assignments have included helping clients navigate through retirement design and funding under the Pension Protection Act, assisting government clients with funding and reporting of GASB 45 liabilities, and assisting clients in managing pension and retiree medical liabilities reported on their income statements and balance sheets. Ritchie is an associate of the Society of Actuaries, an Enrolled Actuary under ERISA and a member of the American Academy of Actuaries.
Parsippany, NJ
* Nina Zazzara, Health & Benefits. Zazzara serves as the local practice leader for Aon Consulting's Employee Benefits Group in Aon's Parsippany, N.J. office. She has more than 20 years of experience in creating strategic, customized solutions for clients on managed care, consumerism, retiree medical, life, disability and behavioral health programs. She has significant experience with employers in the healthcare and retail industries. Past assignments have included assisting clients with the design, evaluation, and/or administration of flexible benefits, cost management studies, alternative health care products and providers, and employee attitude survey design and analysis.
Somerset, NJ
* Kristine Klepper, Health and Benefits. Klepper serves as the local market leader in the greater New York/New Jersey market. She has more than 18 years of experience in health and welfare consulting, and she specializes in designing and implementing employee benefit programs for large employers. Recent client projects have included providing strategic consulting in redesigning health and benefit programs, developing health promotion strategies and managing the marketing process for a large public employer. Klepper holds the Certified Employee Benefit Specialist designation. She also is one of the founding members of the Central New Jersey Chapter of ISCEBS.
Winston-Salem, N.C.
* Rich Walsh, Key Account Manager Group. Walsh has more than 20 years of experience in assisting clients with Human Capital issues, and in particular with the design, administration, funding and communication of employee benefit plans and with talent management strategies. His primary responsibilities include delivering consulting services to clients as account manager, as well as providing retirement and actuarial consulting services to selected key accounts. Walsh is an associate of the Society of Actuaries and a member of the American Academy of Actuaries.
About Aon Consulting
Aon Consulting Worldwide is among the top global human capital consulting firms, with 2008 revenues of $1.358 billion and more than 6,300 professionals in 117 offices worldwide. Aon Consulting works with organizations to improve business performance and shape the workplace of the future through employee benefits, talent management and rewards strategies and solutions. Aon Consulting was named the best employee benefit consulting firm by the readers of Business Insurance magazine in 2006, 2007 and 2008.
About Aon
Aon Corporation (NYSE: AOC) is the leading global provider of risk management services, insurance and reinsurance brokerage, and human capital consulting. Through its more than 37,000 colleagues worldwide, Aon readily delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Aon's industry-leading global resources and technical expertise are delivered locally through more than 500 offices in more than 120 countries. Named the world's best broker by Euromoney magazine's 2008 and 2009 Insurance Survey, Aon also ranked highest on Business Insurance's listing of the world's largest insurance brokers based on commercial retail, wholesale, reinsurance and personal lines brokerage revenues in 2008. A.M. Best deemed Aon the number one insurance broker based on brokerage revenues in 2007 and 2008, and Aon was voted best insurance intermediary, best reinsurance intermediary and best employee benefits consulting firm in 2007 and 2008 by the readers of Business Insurance. For more information on Aon, log onto http://www.aon.com/.
SAP and SAP User Group Executive Network (SUGEN) Announce SAP(R) Enterprise Support Milestones
AP AG (NYSE: SAP) and the SAP User Group Executive Network (SUGEN), a global federation of 12 key SAP user groups, today announced an agreement on a defined list of key performance indicators that will be used to measure the success of SAP(R) Enterprise Support services. Also announced was the rollout of a joint benchmarking program that will use key performance indicators to define and measure how SAP customers derive value from SAP Enterprise Support. In this joint benchmarking effort, the key performance indicators will be measured and tracked among a representative selection of customers. As a further demonstration of its commitment to customers, SAP has modified the 2008 pricing program for SAP Enterprise Support as it applies to support contracts migrated to SAP Enterprise Support. This decision coincides with its recently announced seven-year maintenance lifecycle (see "SAP Enhances Value of SAP Customer Relationships").
"We are convinced that SAP Enterprise Support delivers unparalleled value to all customers and, as a demonstration of our commitment, we will provide tangible reductions in their operational costs on a defined schedule," said Leo Apotheker, co-CEO, SAP AG. "SAP is now the role model for the evolution of software support offering an industry game-changing standard for transparency, accountability and the clear measurement of value. We remain strongly committed to helping our customers both protect their investments and closely manage costs."
A joint SAP-SUGEN task force formed in November 2008 (see "SAP and the SAP User Group Executive Network (SUGEN) Liaise to Quantify Value of New SAP Support Offering") has established the SUGEN Key Performance Indicator Index (SUGEN KPI Index), which will measure and verify the ongoing value of SAP Enterprise Support. This effort will help customers by providing a transparent mechanism to link their support investment to the value delivered. SAP has agreed to postpone the subsequent price increase schedule until the targeted improvements measured by the SUGEN KPI Index are met. Successful delivery on KPIs is expected to demonstrate tangible cumulative cost savings for customers. This value delivery is targeted to be fully realized within the four-year time frame of the benchmarking program.
"SUGEN and SAP have formed a strong partnership based on a common goal of ensuring that current and future SAP customers fully realize the value of SAP Enterprise Support," said Mike Stoko, SUGEN chairman. "The SUGEN organization represents a global community of customers, and it is on their behalf that we form joint task forces with SAP to work on strategic issues such as SAP Enterprise Support. SUGEN is excited about today's announcement - our collaborative efforts are resulting in the first program of its kind for the IT industry, providing transparent, measurable ways for customers to truly see how valuable SAP Enterprise Support is for their organizations."
The SUGEN KPI Index aggregates key performance indicators from four major categories representing key customer business value-drivers, which were defined after joint discussions with customers. The four major categories for the SUGEN KPI Index are:
Benchmark Study Process Announced
The key performance indicators within the SUGEN KPI Index will be measured as part of a formal benchmarking program that will provide customers with a baseline against which to appraise and compare the value delivered by SAP Enterprise Support. In order to achieve consistency in the measurements over time, SUGEN and SAP will select a core representative customer group that will deploy capabilities of SAP Enterprise Support and track their results. Quality assurance on the benchmark program and its results will be validated by an independent third party. The program has the full and unanimous support of all SUGEN members and the SAP Executive Board.
"In collaboration with SAP, we achieved an important milestone by setting up this long-term benchmark program and tying the added value to further price increases," said DSAG board member and SUGEN SAP Enterprise Support lead Andreas Oczko. "With this effort, companies will gain insight into the SAP Enterprise Support value that SAP promises its customers."
Modifications to the 2008 SAP Enterprise Support Pricing Program
In consideration of the current economic climate and discussions with SUGEN on SAP Enterprise Support, SAP is extending by three years the four-step price increase program announced in July 2008 (see "SAP Enterprise Support Offering Rolled Out to All Customers") for customers that were migrated to SAP Enterprise Support at that time. Originally scheduled to run until 2012, the program will now conclude in 2015, coinciding with the recently introduced 7-2 maintenance strategy. Starting in 2010, the price of SAP Enterprise Support for existing customers will continue to increase based on individual contract terms but will not be higher than a yearly fixed upper cap. This translates to an increase average of no more than 3.1 percent per year from 2010 onwards. The price of SAP Enterprise Support will be capped at 22 percent through 2015. With this adjustment, SAP demonstrates a clear commitment and responsiveness to its customers and the challenging global economic conditions they must navigate today.
Industry Analyst Comment on Announcement
"SAP's goal to provide a rating of application support via key performance indicators is innovative and challenging," said Peter Wesche, research director, Gartner. "The extensive benchmarking phase and mapping of key performance indicators to business value will allow customers to fully understand the benefits of a comprehensive support program."
About SUGEN
Established in 2007, SUGEN is a federation of twelve user groups designed to facilitate open, honest dialogue between members and SAP and drive the market towards excellence, innovation, and success. By working together, SUGEN members will be able to provide consolidated strategic influence priorities and work with SAP to resolve them, provide an effective and efficient method for communication among user groups and SAP, and share best practices between user groups and SAP for the mutual benefit of all.
Current members include ASUG (North America), ASUG Brazil, ASUG Mexico, AUSAPE (Spain), DSAG (Germany, Austria, Switzerland), JSUG (Japan), SAPSA (Sweden), SAUG (Australia), SAP UK & Ireland User Group, SUG-MENA (Middle-East, North Africa), USF (France), and VNSG (Netherlands).
About SAP(R) Enterprise Support
SAP(R) Enterprise Support services support the entire lifecycle of SAP applications, including services for custom code, from implementation to day-to-day operations. By proactively identifying risks and providing faster time to resolution, it helps minimize system downtime. Customers can gain increased visibility into the IT operations of their organizations and across their businesses for more informed decision-making. Standardizing support process further identifies areas for operational efficiencies. With SAP Enterprise Support, customers have a standardized approach to managing the systems environment, which supports faster problem resolution, less configuration and testing investment and, ultimately, can deliver better returns on software investments
Next Major Event: SAPPHIRE(R) 2009 Orlando
More than 10,000 customers, partners and industry experts are convening at SAPPHIRE(R) 2009 to discover how SAP and its thriving partner ecosystem are delivering IT solutions that help today's best-run businesses achieve clarity in every area of their operations. SAP's premier educational and networking event, SAPPHIRE is the one occasion each year where senior executives, business managers and decision-makers can come together to explore how innovative business solutions foster long-term, profitable growth. SAPPHIRE 2009 will be held in Orlando, Florida, May 11-14. For more information, please visit www.sap.com/sapphire. Join the conversation via Twitter at #sapphire09.
In addition to SAPPHIRE 2009, SAP is also hosting SAP(R) World Tour 2009, a series of local events in more than 70 cities through Europe, the Middle East, Asia and Latin America. For more information, visit the SAP World Tour event page on sap.com.
About SAP
SAP is the world's leading provider of business software(*), offering applications and services that enable companies of all sizes and in more than 25 industries to become best-run businesses. With more than 86,000 customers in over 120 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE, under the symbol "SAP." For more information, visit www.sap.com.
"We are convinced that SAP Enterprise Support delivers unparalleled value to all customers and, as a demonstration of our commitment, we will provide tangible reductions in their operational costs on a defined schedule," said Leo Apotheker, co-CEO, SAP AG. "SAP is now the role model for the evolution of software support offering an industry game-changing standard for transparency, accountability and the clear measurement of value. We remain strongly committed to helping our customers both protect their investments and closely manage costs."
A joint SAP-SUGEN task force formed in November 2008 (see "SAP and the SAP User Group Executive Network (SUGEN) Liaise to Quantify Value of New SAP Support Offering") has established the SUGEN Key Performance Indicator Index (SUGEN KPI Index), which will measure and verify the ongoing value of SAP Enterprise Support. This effort will help customers by providing a transparent mechanism to link their support investment to the value delivered. SAP has agreed to postpone the subsequent price increase schedule until the targeted improvements measured by the SUGEN KPI Index are met. Successful delivery on KPIs is expected to demonstrate tangible cumulative cost savings for customers. This value delivery is targeted to be fully realized within the four-year time frame of the benchmarking program.
"SUGEN and SAP have formed a strong partnership based on a common goal of ensuring that current and future SAP customers fully realize the value of SAP Enterprise Support," said Mike Stoko, SUGEN chairman. "The SUGEN organization represents a global community of customers, and it is on their behalf that we form joint task forces with SAP to work on strategic issues such as SAP Enterprise Support. SUGEN is excited about today's announcement - our collaborative efforts are resulting in the first program of its kind for the IT industry, providing transparent, measurable ways for customers to truly see how valuable SAP Enterprise Support is for their organizations."
The SUGEN KPI Index aggregates key performance indicators from four major categories representing key customer business value-drivers, which were defined after joint discussions with customers. The four major categories for the SUGEN KPI Index are:
- Business Continuity
- Business Process Improvement
- Protection of Investment
- Total Cost of Operations
Benchmark Study Process Announced
The key performance indicators within the SUGEN KPI Index will be measured as part of a formal benchmarking program that will provide customers with a baseline against which to appraise and compare the value delivered by SAP Enterprise Support. In order to achieve consistency in the measurements over time, SUGEN and SAP will select a core representative customer group that will deploy capabilities of SAP Enterprise Support and track their results. Quality assurance on the benchmark program and its results will be validated by an independent third party. The program has the full and unanimous support of all SUGEN members and the SAP Executive Board.
"In collaboration with SAP, we achieved an important milestone by setting up this long-term benchmark program and tying the added value to further price increases," said DSAG board member and SUGEN SAP Enterprise Support lead Andreas Oczko. "With this effort, companies will gain insight into the SAP Enterprise Support value that SAP promises its customers."
Modifications to the 2008 SAP Enterprise Support Pricing Program
In consideration of the current economic climate and discussions with SUGEN on SAP Enterprise Support, SAP is extending by three years the four-step price increase program announced in July 2008 (see "SAP Enterprise Support Offering Rolled Out to All Customers") for customers that were migrated to SAP Enterprise Support at that time. Originally scheduled to run until 2012, the program will now conclude in 2015, coinciding with the recently introduced 7-2 maintenance strategy. Starting in 2010, the price of SAP Enterprise Support for existing customers will continue to increase based on individual contract terms but will not be higher than a yearly fixed upper cap. This translates to an increase average of no more than 3.1 percent per year from 2010 onwards. The price of SAP Enterprise Support will be capped at 22 percent through 2015. With this adjustment, SAP demonstrates a clear commitment and responsiveness to its customers and the challenging global economic conditions they must navigate today.
Industry Analyst Comment on Announcement
"SAP's goal to provide a rating of application support via key performance indicators is innovative and challenging," said Peter Wesche, research director, Gartner. "The extensive benchmarking phase and mapping of key performance indicators to business value will allow customers to fully understand the benefits of a comprehensive support program."
About SUGEN
Established in 2007, SUGEN is a federation of twelve user groups designed to facilitate open, honest dialogue between members and SAP and drive the market towards excellence, innovation, and success. By working together, SUGEN members will be able to provide consolidated strategic influence priorities and work with SAP to resolve them, provide an effective and efficient method for communication among user groups and SAP, and share best practices between user groups and SAP for the mutual benefit of all.
Current members include ASUG (North America), ASUG Brazil, ASUG Mexico, AUSAPE (Spain), DSAG (Germany, Austria, Switzerland), JSUG (Japan), SAPSA (Sweden), SAUG (Australia), SAP UK & Ireland User Group, SUG-MENA (Middle-East, North Africa), USF (France), and VNSG (Netherlands).
About SAP(R) Enterprise Support
SAP(R) Enterprise Support services support the entire lifecycle of SAP applications, including services for custom code, from implementation to day-to-day operations. By proactively identifying risks and providing faster time to resolution, it helps minimize system downtime. Customers can gain increased visibility into the IT operations of their organizations and across their businesses for more informed decision-making. Standardizing support process further identifies areas for operational efficiencies. With SAP Enterprise Support, customers have a standardized approach to managing the systems environment, which supports faster problem resolution, less configuration and testing investment and, ultimately, can deliver better returns on software investments
Next Major Event: SAPPHIRE(R) 2009 Orlando
More than 10,000 customers, partners and industry experts are convening at SAPPHIRE(R) 2009 to discover how SAP and its thriving partner ecosystem are delivering IT solutions that help today's best-run businesses achieve clarity in every area of their operations. SAP's premier educational and networking event, SAPPHIRE is the one occasion each year where senior executives, business managers and decision-makers can come together to explore how innovative business solutions foster long-term, profitable growth. SAPPHIRE 2009 will be held in Orlando, Florida, May 11-14. For more information, please visit www.sap.com/sapphire. Join the conversation via Twitter at #sapphire09.
In addition to SAPPHIRE 2009, SAP is also hosting SAP(R) World Tour 2009, a series of local events in more than 70 cities through Europe, the Middle East, Asia and Latin America. For more information, visit the SAP World Tour event page on sap.com.
About SAP
SAP is the world's leading provider of business software(*), offering applications and services that enable companies of all sizes and in more than 25 industries to become best-run businesses. With more than 86,000 customers in over 120 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE, under the symbol "SAP." For more information, visit www.sap.com.
Feinberg Consulting Provides Tips for Use During May's Older Americans Month
Feinberg Consulting-Comprehensive Elder Care Management Division offers tips for "Living Today for a Better Tomorrow," this year's theme of May's Older Americans Month as designated by U.S. Department of Human Services Administration on Aging.
"Older Americans Month is an appropriate time to evaluate the needs of older adults to improve their quality of life," said Pam Feinberg-Rivkin, president of Feinberg Consulting in Farmington Hills. "There are simple but often overlooked signs of possible problems with an elderly family member."
"It's really difficult and challenging to learn their needs, preferences and finances," said Feinberg-Rivkin. "So, it's important to get involved, increase support and possibly seek professional help to give them more control over their own lives."
"Helping older adults live better today provides for an improved future," added Feinberg-Rivkin. "Families must work together to make beneficial decisions, show respect and preserve the dignity of elder relatives as getting old is not easy."
Feinberg Consulting is located at 29226 Orchard Lake Road, Suite 120, Farmington Hills. The firm provides case management and consulting services for catastrophic injuries, life planning, chronic disease management, developmental disabilities and elder care management in southeastern Michigan and Florida. The Comprehensive Elder Care Management Division benefits older adults who want to live independently in a safe environment, without sacrificing their dignity, respect or quality of life. For further information visit www.FeinbergConsulting.com.
"Older Americans Month is an appropriate time to evaluate the needs of older adults to improve their quality of life," said Pam Feinberg-Rivkin, president of Feinberg Consulting in Farmington Hills. "There are simple but often overlooked signs of possible problems with an elderly family member."
- Use family celebrations like Mother's Day as an opportunity to pay attention to changes
- Observe the physical and mental differences including changes in weight, short-term memory, speech, mobility and driving safety
- Watch for mood swings, depression and managing medications improperly
- Look for the ability to handle activities of daily living including personal hygiene, eating and getting in and out of a chair
"It's really difficult and challenging to learn their needs, preferences and finances," said Feinberg-Rivkin. "So, it's important to get involved, increase support and possibly seek professional help to give them more control over their own lives."
- Focus on prevention to avoid the risks of chronic disease, disability and injury
- Improve health habits such as exercising regularly and maintaining a healthy diet
- Express your concern and offer support to keep their independence
- Evaluate and suggest improvement to their living environment for ease of use
- Propose assistance in going out socially or visiting medical providers
- Utilize a professional to discuss confidential affairs such as money with a financial or legal advisor
- Obtain the tools they need to make informed decisions about existing health and long-term care options and to avoid placement in nursing homes and remain at home as long as possible
"Helping older adults live better today provides for an improved future," added Feinberg-Rivkin. "Families must work together to make beneficial decisions, show respect and preserve the dignity of elder relatives as getting old is not easy."
Feinberg Consulting is located at 29226 Orchard Lake Road, Suite 120, Farmington Hills. The firm provides case management and consulting services for catastrophic injuries, life planning, chronic disease management, developmental disabilities and elder care management in southeastern Michigan and Florida. The Comprehensive Elder Care Management Division benefits older adults who want to live independently in a safe environment, without sacrificing their dignity, respect or quality of life. For further information visit www.FeinbergConsulting.com.
Towers Perrin Adds Financial Risk Management Tool to Its Economic Capital Consulting Expertise for Insurers
The global economic crisis has highlighted for insurers the importance of embedding an enterprise risk management (ERM) framework. Superior financial risk management is a critical component of ERM, and insurers across all lines of business are seeking to improve processes, including their ability to calculate economic capital – the currency of risk management - with more speed and accuracy.
Responding to this critical industry-wide need, global professional services firm Towers Perrin is adding to its already robust consulting expertise in the economic capital arena with the development of the Risk Agility™ Economic Capital Aggregator (RiskAgility™ EC). This innovative software application makes it possible for insurers to calculate economic capital more quickly and reliably.
“RiskAgility EC – paired with Towers Perrin’s experience in dealing with economic capital-related issues – is a critical advancement in the way insurers view and handle risk, as it enables near real-time risk and capital management,” said David Dullaway, Towers Perrin Principal and leader of the firm’s global economic capital initiative. “With the ability to make more accurate, timely calculations of economic capital, insurers will be able to demonstrate that their risk governance processes are based upon sound methodologies that are fully embedded in the business.”
According to a recent Towers Perrin survey of insurance companies, use of economic capital in risk-based decision making is set to change dramatically over the next one to two years as insurers embed this approach into other business processes, including strategic and business planning, product design and performance measurement. Combining Towers Perrin’s experience in economic capital design and implementation with the company’s robust RiskAgility enterprise platform, RiskAgility EC works to help insurers make this happen.
Most insurers hold diverse portfolios with varying risk exposures. These portfolios provide diversification benefits, as certain lines of business will often outperform others as the economic climate changes, and buffer the company from both swings in business cycles and market volatility shocks. However, it has often been difficult for insurers to calculate this diversification benefit quickly and accurately enough to be useful in managing day-to-day financial risk. More timely economic capital results provide insurers with a clearer path toward optimum capital efficiency and value creation.
Among the benefits of Towers Perrin’s approach to economic capital utilizing RiskAgility EC:
Towers Perrin’s proficiency in economic capital and risk aggregation can help insurance companies gain access to better information more quickly to inform critical business decisions during these tenuous times. Armed with tools such as RiskAgility EC, insurers will be better prepared to meet evolving requirements of regulators, rating agencies and investors. Towers Perrin is a leading expert on economic capital methodology, with extensive experience around the globe assisting clients with economic capital design and implementation.
About Towers Perrin
Towers Perrin is a global professional services firm that helps organizations improve performance through effective people, risk and financial management. The firm provides innovative solutions in the areas of human capital strategy, program design and management, and in the areas of risk and capital management, insurance and reinsurance intermediary services, and actuarial consulting. Towers Perrin has offices and alliance partners in the United States, Canada, Europe, Asia, Latin America, South Africa, Australia, New Zealand and the Middle East. More information about Towers Perrin is available at www.towersperrin.com.
Responding to this critical industry-wide need, global professional services firm Towers Perrin is adding to its already robust consulting expertise in the economic capital arena with the development of the Risk Agility™ Economic Capital Aggregator (RiskAgility™ EC). This innovative software application makes it possible for insurers to calculate economic capital more quickly and reliably.
“RiskAgility EC – paired with Towers Perrin’s experience in dealing with economic capital-related issues – is a critical advancement in the way insurers view and handle risk, as it enables near real-time risk and capital management,” said David Dullaway, Towers Perrin Principal and leader of the firm’s global economic capital initiative. “With the ability to make more accurate, timely calculations of economic capital, insurers will be able to demonstrate that their risk governance processes are based upon sound methodologies that are fully embedded in the business.”
According to a recent Towers Perrin survey of insurance companies, use of economic capital in risk-based decision making is set to change dramatically over the next one to two years as insurers embed this approach into other business processes, including strategic and business planning, product design and performance measurement. Combining Towers Perrin’s experience in economic capital design and implementation with the company’s robust RiskAgility enterprise platform, RiskAgility EC works to help insurers make this happen.
Most insurers hold diverse portfolios with varying risk exposures. These portfolios provide diversification benefits, as certain lines of business will often outperform others as the economic climate changes, and buffer the company from both swings in business cycles and market volatility shocks. However, it has often been difficult for insurers to calculate this diversification benefit quickly and accurately enough to be useful in managing day-to-day financial risk. More timely economic capital results provide insurers with a clearer path toward optimum capital efficiency and value creation.
Among the benefits of Towers Perrin’s approach to economic capital utilizing RiskAgility EC:
- Provides robust aggregation capabilities, while fully reflecting dependencies between lines of business
- Allows for capital allocation, including the diversification benefit while bringing together market, insurance and other risks consistently
- Takes advantage of an insurer’s existing financial projection systems; it isn’t necessary for insurers adopting this approach to replace their existing financial models
- Provides immediate, transparent updates for “what if” analysis.
Towers Perrin’s proficiency in economic capital and risk aggregation can help insurance companies gain access to better information more quickly to inform critical business decisions during these tenuous times. Armed with tools such as RiskAgility EC, insurers will be better prepared to meet evolving requirements of regulators, rating agencies and investors. Towers Perrin is a leading expert on economic capital methodology, with extensive experience around the globe assisting clients with economic capital design and implementation.
About Towers Perrin
Towers Perrin is a global professional services firm that helps organizations improve performance through effective people, risk and financial management. The firm provides innovative solutions in the areas of human capital strategy, program design and management, and in the areas of risk and capital management, insurance and reinsurance intermediary services, and actuarial consulting. Towers Perrin has offices and alliance partners in the United States, Canada, Europe, Asia, Latin America, South Africa, Australia, New Zealand and the Middle East. More information about Towers Perrin is available at www.towersperrin.com.
CPSI Ranks No. 1 On The Largest IT Consulting Firms in the Baltimore Area List
CPSI, a Baltimore-based company focused on placing Information Systems professionals, announces it has been ranked No. 1 as the largest IT consulting firm in the Baltimore area as awarded by the Baltimore Business Journal for 2008. CPSI provides technology consulting services to the entire Mid-Atlantic region.
CPSI secured the lead for the number of full-time IT consultants in the Baltimore area with 145 consultants on contract. This would not have been possible if it wasn't for our major clients in the federal contractor, healthcare, and financial services markets.
"We are very pleased to have attainted the number one position in a difficult economic environment," said CPSI executive vice president, John Larson. "Fortunately, we have many wonderful clients in a vibrant area of the country who still require the best consultants to assist them in achieving their goals."
CPSI has maintained a top five ranking throughout the past six years, as defined by the Baltimore Business Journal. CPSI has also been recognized by various local and industry publications for outstanding growth and service.
"Through steady growth, maintaining our strong relationships with our clients, and the support of the consultants on our team, we are working hard towards achieving the number one ranking in 2009," said CPSI vice president of operations, Erica Bennett.
About CPSI
CPSI, is a Baltimore-based organization focused on consulting and placing Information Systems professionals. Founded in 1985, its largest clients consist of the Federal Government, Fortune 1000 companies, and mid-sized firms. With over 20 years of experience in IT Consulting Solutions, CPSI specializes in providing consultants with expertise in: Program/Project Management, Information Management, Enterprise Service Oriented Architecture, Systems Integration, Technology Consulting, and Full Life Cycle Application Development and Support.
CPSI secured the lead for the number of full-time IT consultants in the Baltimore area with 145 consultants on contract. This would not have been possible if it wasn't for our major clients in the federal contractor, healthcare, and financial services markets.
"We are very pleased to have attainted the number one position in a difficult economic environment," said CPSI executive vice president, John Larson. "Fortunately, we have many wonderful clients in a vibrant area of the country who still require the best consultants to assist them in achieving their goals."
CPSI has maintained a top five ranking throughout the past six years, as defined by the Baltimore Business Journal. CPSI has also been recognized by various local and industry publications for outstanding growth and service.
"Through steady growth, maintaining our strong relationships with our clients, and the support of the consultants on our team, we are working hard towards achieving the number one ranking in 2009," said CPSI vice president of operations, Erica Bennett.
About CPSI
CPSI, is a Baltimore-based organization focused on consulting and placing Information Systems professionals. Founded in 1985, its largest clients consist of the Federal Government, Fortune 1000 companies, and mid-sized firms. With over 20 years of experience in IT Consulting Solutions, CPSI specializes in providing consultants with expertise in: Program/Project Management, Information Management, Enterprise Service Oriented Architecture, Systems Integration, Technology Consulting, and Full Life Cycle Application Development and Support.
Delphi Technology Announces OASIS Customer Group 2009
Delphi Technology, Inc., a leading provider of technology solutions to the insurance and risk management industries, today announced that its 10th annual OASIS Customer Group (OCG) meeting is being held April 28 – 30 at the Park Plaza Hotel in Boston.
The event, showcasing the newest features of Delphi Technology’s OASIS, marks the company's 15th anniversary of providing solutions to North America’s leading companies in the professional liability, workers’ compensation, and reinsurance markets. Delphi Technology is pleased to announce that this year’s OCG will include guest speakers from Deloitte Consulting, Physicians Insurance Association of America (PIAA) and MSS Technologies.
This year’s OCG will kick-off with an opening reception on Tuesday night. Wednesday and Thursday’s sessions will include a wide variety of presentations and workshop sessions on the newest features available in OASIS and case studies by OASIS customers, 110 OASIS customer users are registered to be in attendance to share best practices, gain insight into the OASIS product direction, and hear from industry experts on some of the latest trends and developments in the insurance industry.
"It is our vision that the power of our OASIS solution enables a more agile enterprise by giving business users the strategic advantage of automating workflow, and increasing productivity and ROI; ultimately making the organization more profitable and competitive," said Bill Moss, Delphi Technology’s President. "Our goal is to continue to share that vision with our customers and to solicit direct feedback from them on the trends and challenges that they are encountering in their day-to-day operations so that we continually enhance our products and services to help address their current and future needs.”
Sam Fang, Delphi Technology’s founder and CEO, noted, "We started the company with the understanding that the medical professional liability market needs were unique and were not being adequately addressed by other vendors’ “one-size-fits-all” software solutions. OASIS was developed with the flexibility to enable each customer’s unique requirements to be met – ultimately transforming the way users implement and update business processes, and changing the way the insurance carriers do business."
In 1994, Delphi Technology established itself as a pioneer in medical professional liability technology, and since then has developed expertise in developing and delivering software solutions to insurance and risk management customers throughout North America. Delphi Technology has a proven record of success in medical professional liability, professional liability (hospital, legal, architects and engineers), reinsurance, workers’ compensation, and claims management. Delphi Technology's applications have enabled organizations to optimize their business processes and respond to changing business needs resulting in reduced costs, increased operational efficiency, and improved business intelligence. Today, more than 40% of medical professional liability premiums in North America are processed in OASIS.
About Delphi Technology
For more than 15 years, Delphi Technology has been a leading provider of technology solutions to the insurance and risk management industries. By leveraging its extensive industry knowledge and experience, Delphi Technology delivers a comprehensive range of innovative technology solutions for property and casualty insurers, third party administrators (TPAs), self-insureds, and risk retention groups (RRGs).
Delphi Technology’s OASIS suite provides proven software applications to run core insurance operations including underwriting, billing, policy administration, claims management, financial management, risk assessment, and reinsurance. OASIS enables companies to optimize their business processes and respond to changing business needs resulting in reduced costs, increased operational efficiency, and improved business intelligence.
Delphi Technology’s professional services staff of 150+ technical and insurance experts utilize a proven implementation methodology ensuring the transfer of necessary market and business expertise throughout the deployment process resulting in successful implementations that come in on schedule and on budget.
Headquartered in Boston, MA, Delphi Technology has sales, support and development offices throughout North America as well as in Shanghai, China.
For more information, please visit us at www.Delphi-Tech.com.
The event, showcasing the newest features of Delphi Technology’s OASIS, marks the company's 15th anniversary of providing solutions to North America’s leading companies in the professional liability, workers’ compensation, and reinsurance markets. Delphi Technology is pleased to announce that this year’s OCG will include guest speakers from Deloitte Consulting, Physicians Insurance Association of America (PIAA) and MSS Technologies.
This year’s OCG will kick-off with an opening reception on Tuesday night. Wednesday and Thursday’s sessions will include a wide variety of presentations and workshop sessions on the newest features available in OASIS and case studies by OASIS customers, 110 OASIS customer users are registered to be in attendance to share best practices, gain insight into the OASIS product direction, and hear from industry experts on some of the latest trends and developments in the insurance industry.
"It is our vision that the power of our OASIS solution enables a more agile enterprise by giving business users the strategic advantage of automating workflow, and increasing productivity and ROI; ultimately making the organization more profitable and competitive," said Bill Moss, Delphi Technology’s President. "Our goal is to continue to share that vision with our customers and to solicit direct feedback from them on the trends and challenges that they are encountering in their day-to-day operations so that we continually enhance our products and services to help address their current and future needs.”
Sam Fang, Delphi Technology’s founder and CEO, noted, "We started the company with the understanding that the medical professional liability market needs were unique and were not being adequately addressed by other vendors’ “one-size-fits-all” software solutions. OASIS was developed with the flexibility to enable each customer’s unique requirements to be met – ultimately transforming the way users implement and update business processes, and changing the way the insurance carriers do business."
In 1994, Delphi Technology established itself as a pioneer in medical professional liability technology, and since then has developed expertise in developing and delivering software solutions to insurance and risk management customers throughout North America. Delphi Technology has a proven record of success in medical professional liability, professional liability (hospital, legal, architects and engineers), reinsurance, workers’ compensation, and claims management. Delphi Technology's applications have enabled organizations to optimize their business processes and respond to changing business needs resulting in reduced costs, increased operational efficiency, and improved business intelligence. Today, more than 40% of medical professional liability premiums in North America are processed in OASIS.
About Delphi Technology
For more than 15 years, Delphi Technology has been a leading provider of technology solutions to the insurance and risk management industries. By leveraging its extensive industry knowledge and experience, Delphi Technology delivers a comprehensive range of innovative technology solutions for property and casualty insurers, third party administrators (TPAs), self-insureds, and risk retention groups (RRGs).
Delphi Technology’s OASIS suite provides proven software applications to run core insurance operations including underwriting, billing, policy administration, claims management, financial management, risk assessment, and reinsurance. OASIS enables companies to optimize their business processes and respond to changing business needs resulting in reduced costs, increased operational efficiency, and improved business intelligence.
Delphi Technology’s professional services staff of 150+ technical and insurance experts utilize a proven implementation methodology ensuring the transfer of necessary market and business expertise throughout the deployment process resulting in successful implementations that come in on schedule and on budget.
Headquartered in Boston, MA, Delphi Technology has sales, support and development offices throughout North America as well as in Shanghai, China.
For more information, please visit us at www.Delphi-Tech.com.
Citrix Systems Selects Hogan Consulting Group for Two Top National Channel Partner Awards
Hogan Consulting Group, Inc. announced today that the company has been chosen by Citrix(R) Systems as the 2008 Central Partner of the Year and 2008 Top Citrix Delivery Center(TM) Partner. A provider of technology solutions and support with a focus on improving IT efficiency for clients throughout the country, Hogan Consulting Group received the Central Partner of the Year award based on growth and consistently going above and beyond every aspect required of Citrix Solution Advisors. The company received the 2008 Top Citrix Delivery Center Partner recognition because it is the top Citrix partner nationwide with proficiencies in all Citrix products including Citrix XenServer(TM), Citrix XenDesktop(TM), Citrix XenApp(TM), Citrix NetScaler(TM) and Citrix WanScaler(TM).
"Hogan Consulting Group has been a strong Citrix partner for years. Through their hard work, advanced deployments, and close relationships with the Citrix team, they have been identified as a key strategic partner in the Central Area," said Dennis Eilks, Citrix Vice President - Central Area.
The Citrix Central Partner of the Year award process includes assessments of how partners perform across five key areas: sales, customer support, marketing, customer satisfaction and a commitment to working closely with Citrix. In winning the award, Hogan Consulting Group was measured against all other Citrix partners across the Central United States, which includes 16 states, and was selected by Citrix for consistently supporting a large base of customers and continuing to grow their Citrix practice.
The Top Citrix Delivery Center Partner award goes to one partner in the United States that consistently adopts and deploys new Citrix technologies that span the entire Citrix Delivery Center. Hogan Consulting Group was selected above all other partners in the country based on their broad skill sets and consistent, reliable deployments for their client base.
"Hogan Consulting Group's commitment to continuously reinvest in new technologies and strengthening their Citrix practice has been a tremendous benefit to their clients and is one of the key factors to their success and growth. On behalf of the entire Citrix team, congratulations to all at Hogan Consulting Group for the dedication and professionalism that earned them the 2008 Central Partner of the Year award as well as the 2008 Citrix Delivery Center Top Partner of the Year award," Eilks said.
Hogan Consulting Group will receive formal recognition for these awards May 3-4 in Las Vegas at Citrix Summit 2009, the premier training conference exclusively for Citrix partners.
About Hogan Consulting Group
Hogan Consulting Group provides technology-based solutions that simplify and optimize datacenter and application delivery strategies. With offices in Chesterton, Indianapolis and South Bend, Indiana as well as Columbus, OH and new expansion into Chicago, IL, Hogan Consulting Group is a leading provider of virtualization solutions to clients that span the United States. Focused exclusively on Citrix-based solutions, Hogan Consulting Group engineers and account executives are amongst the most knowledgeable and trained in the industry. As a Citrix Authorized Learning Center (CALC), Hogan Consulting Group also provides training for companies and individuals looking to further their skills with Citrix products. For more information, visit www.hogancg.com.
"Hogan Consulting Group has been a strong Citrix partner for years. Through their hard work, advanced deployments, and close relationships with the Citrix team, they have been identified as a key strategic partner in the Central Area," said Dennis Eilks, Citrix Vice President - Central Area.
The Citrix Central Partner of the Year award process includes assessments of how partners perform across five key areas: sales, customer support, marketing, customer satisfaction and a commitment to working closely with Citrix. In winning the award, Hogan Consulting Group was measured against all other Citrix partners across the Central United States, which includes 16 states, and was selected by Citrix for consistently supporting a large base of customers and continuing to grow their Citrix practice.
The Top Citrix Delivery Center Partner award goes to one partner in the United States that consistently adopts and deploys new Citrix technologies that span the entire Citrix Delivery Center. Hogan Consulting Group was selected above all other partners in the country based on their broad skill sets and consistent, reliable deployments for their client base.
"Hogan Consulting Group's commitment to continuously reinvest in new technologies and strengthening their Citrix practice has been a tremendous benefit to their clients and is one of the key factors to their success and growth. On behalf of the entire Citrix team, congratulations to all at Hogan Consulting Group for the dedication and professionalism that earned them the 2008 Central Partner of the Year award as well as the 2008 Citrix Delivery Center Top Partner of the Year award," Eilks said.
Hogan Consulting Group will receive formal recognition for these awards May 3-4 in Las Vegas at Citrix Summit 2009, the premier training conference exclusively for Citrix partners.
About Hogan Consulting Group
Hogan Consulting Group provides technology-based solutions that simplify and optimize datacenter and application delivery strategies. With offices in Chesterton, Indianapolis and South Bend, Indiana as well as Columbus, OH and new expansion into Chicago, IL, Hogan Consulting Group is a leading provider of virtualization solutions to clients that span the United States. Focused exclusively on Citrix-based solutions, Hogan Consulting Group engineers and account executives are amongst the most knowledgeable and trained in the industry. As a Citrix Authorized Learning Center (CALC), Hogan Consulting Group also provides training for companies and individuals looking to further their skills with Citrix products. For more information, visit www.hogancg.com.
New Information and Resources on Real-Time Energy Management Solutions Now Available From IPS
The Global Consulting group of Invensys Process Systems (IPS) is providing new information on best practices for real-time energy management. These principles are based on the field experience of IPS consultants and cover strategic, activity-based management solutions that reduce costs and improve efficiency in energy-intensive operations. Real-time monitoring of steam plant performance, improving power plant performance and automating thermal reforming operations are among the many areas in which IPS consultants have helped clients achieve measurable results by applying real-time energy management solutions.
The information is being made available through a new video and white paper accessible online at http://www.ips-answers.com/energy. In the video, titled "Energy Management & the Real-Time Enterprise," IPS vice president Dr. Peter Martin describes the essential components of the real-time enterprise and how they can help process manufacturers achieve dramatic reductions in energy costs and consumption. In the white paper, titled "Real-time Energy Measurement and Empowerment," IPS principal consultant Russ Barr describes activity-based costing, activity-based management and real-time measurement and communications practices that have resulted in significant customer savings and have received wide industry acclaim.
"Energy is among the largest variable costs that manufacturers must control to remain profitable," said Nathalie Marcotte, vice president, IPS Global Consulting. "Fortunately, energy is also a cost that manufacturers can manage effectively through expert application of automated controls and real-time monitoring. Our consultants bring years of expertise in implementing real-time automation that lowers energy and material costs, while maximizing production value. The video and white paper we are releasing today are part of an ongoing program through which we will share valuable domain knowledge with process manufacturers."
In the video, Dr. Martin discusses energy management in the context of five areas that process manufacturers can monitor and control in real time to maximize profit: production value, raw material costs, energy costs, plant safety and environmental compliance. He also describes the following critical components that enable the real-time enterprise:
-- A measurement infrastructure, which defines energy operations in terms of their role in achieving the company's business strategy
-- An empowerment infrastructure, which delivers real-time operational data in operator, managerial and executive dashboards
-- A control system that enables management of business and production operations, together in real-time
-- An optimization strategy, which identifies areas of improvement and ways to achieve them through advanced process control, asset management techniques, training or other strategies
A preview of the video is available at www.youtube.com/watch?v=6uHPIHUz9CQ. To view the complete video, visit http://www.ips-answers.com/energy.
The white paper focuses on the first two components of the real-time enterprise: measurement and empowerment. It describes the process by which companies can create the strategic measurements, key performance indicators (KPIs), performance dashboards and other measurement and empowerment solutions that can be integrated with activity-based costing and management systems to help them achieve and sustain profitability. To download the white paper, go to http://www.ips-answers.com/energy.
The video and the white paper are part of a series of materials that IPS will be offering to help process manufacturers realize the goals of the real-time enterprise. Visitors who request materials at http://www.ips-answers.com/energy will also have the opportunity to communicate directly with IPS authors and other IPS experts and to subscribe to the complete "Real-time Enterprise Series."
About IPS (Invensys Process Systems)
Invensys Process Systems (IPS), headquartered in Plano, Texas, is a global technology, software and consulting firm leading significant change in process manufacturing, plant optimization, business operations and enterprise performance. IPS clients are some of the world's most important industrial organizations -- companies that operate large oil refineries; plants that process chemicals, gas, LNG, power, pharmaceutical and minerals; and pulp and paper mills. IPS solutions, used at over 50,000 locations across the globe, include field devices and controls from Foxboro and Triconex, advanced applications from SimSci-Esscor, operations management from Avantis, and the world's first truly open enterprise control system, InFusion™.
The company's approximately 7,500 employees integrate these capabilities to create solutions that impact and increase efficiency, boost productivity, and accelerate performance. These results help industrial companies run safer, operate more efficiently, and extract useful knowledge from their operations to make faster, better decisions. To learn more about IPS visit www.ips.invensys.com.
The information is being made available through a new video and white paper accessible online at http://www.ips-answers.com/energy. In the video, titled "Energy Management & the Real-Time Enterprise," IPS vice president Dr. Peter Martin describes the essential components of the real-time enterprise and how they can help process manufacturers achieve dramatic reductions in energy costs and consumption. In the white paper, titled "Real-time Energy Measurement and Empowerment," IPS principal consultant Russ Barr describes activity-based costing, activity-based management and real-time measurement and communications practices that have resulted in significant customer savings and have received wide industry acclaim.
"Energy is among the largest variable costs that manufacturers must control to remain profitable," said Nathalie Marcotte, vice president, IPS Global Consulting. "Fortunately, energy is also a cost that manufacturers can manage effectively through expert application of automated controls and real-time monitoring. Our consultants bring years of expertise in implementing real-time automation that lowers energy and material costs, while maximizing production value. The video and white paper we are releasing today are part of an ongoing program through which we will share valuable domain knowledge with process manufacturers."
In the video, Dr. Martin discusses energy management in the context of five areas that process manufacturers can monitor and control in real time to maximize profit: production value, raw material costs, energy costs, plant safety and environmental compliance. He also describes the following critical components that enable the real-time enterprise:
-- A measurement infrastructure, which defines energy operations in terms of their role in achieving the company's business strategy
-- An empowerment infrastructure, which delivers real-time operational data in operator, managerial and executive dashboards
-- A control system that enables management of business and production operations, together in real-time
-- An optimization strategy, which identifies areas of improvement and ways to achieve them through advanced process control, asset management techniques, training or other strategies
A preview of the video is available at www.youtube.com/watch?v=6uHPIHUz9CQ. To view the complete video, visit http://www.ips-answers.com/energy.
The white paper focuses on the first two components of the real-time enterprise: measurement and empowerment. It describes the process by which companies can create the strategic measurements, key performance indicators (KPIs), performance dashboards and other measurement and empowerment solutions that can be integrated with activity-based costing and management systems to help them achieve and sustain profitability. To download the white paper, go to http://www.ips-answers.com/energy.
The video and the white paper are part of a series of materials that IPS will be offering to help process manufacturers realize the goals of the real-time enterprise. Visitors who request materials at http://www.ips-answers.com/energy will also have the opportunity to communicate directly with IPS authors and other IPS experts and to subscribe to the complete "Real-time Enterprise Series."
About IPS (Invensys Process Systems)
Invensys Process Systems (IPS), headquartered in Plano, Texas, is a global technology, software and consulting firm leading significant change in process manufacturing, plant optimization, business operations and enterprise performance. IPS clients are some of the world's most important industrial organizations -- companies that operate large oil refineries; plants that process chemicals, gas, LNG, power, pharmaceutical and minerals; and pulp and paper mills. IPS solutions, used at over 50,000 locations across the globe, include field devices and controls from Foxboro and Triconex, advanced applications from SimSci-Esscor, operations management from Avantis, and the world's first truly open enterprise control system, InFusion™.
The company's approximately 7,500 employees integrate these capabilities to create solutions that impact and increase efficiency, boost productivity, and accelerate performance. These results help industrial companies run safer, operate more efficiently, and extract useful knowledge from their operations to make faster, better decisions. To learn more about IPS visit www.ips.invensys.com.
ArchPoint(TM) Consulting Selects Zapoint(R) SkillsMapper to Enhance Its Talent Management Capabilities
Zapoint(R), a provider of Web-based Human Capital Management (HCM) software, today announced that ArchPoint(TM) Consulting, a leading professional services firm based in San Antonio, Texas, has selected Zapoint's SkillsMapper analytical tool as a major addition to its capabilities in talent management consulting. ArchPoint intends to use SkillsMapper to provide its corporate clients with advanced Human Capital Management (HCM) services, including matching employee skills to broad strategic goals, developing executive talent, and identifying skills gaps within an organization.
As part of the SkillsMapper integration, ArchPoint Consulting and Zapoint will assist each other in marketing the Zapoint technology to corporate clients. It is expected that the addition of SkillsMapper will significantly enhance ArchPoint Consulting's talent management capabilities for companies dealing with strategic realignment, leadership succession, rapid expansion and other organizational change.
ArchPoint Consulting, a division of ArchPoint, is a professional services firm providing consulting, training, interim management, executive coaching and advisory services to major corporations across America and around the world. The firm serves clients in more than a dozen industries from consumer products to telecommunications, and is highly respected within the HCM field for its expertise.
"The combination of Zapoint and ArchPoint will create a leading force in the Human Capital Management space," said Zapoint founder and CEO Chris Twyman. "Together we anticipate helping ArchPoint provide its customers with the most effective portfolio of HCM products and services in the industry. This reinforces our commitment to helping customers manage and transform their human capital into a true competitive advantage."
"SkillsMapper is a highly advanced, powerful tool that will help ArchPoint Consulting differentiate itself in the talent management space," said Richard Spoon, Chief Executive Officer of ArchPoint Consulting. "SkillsMapper is unequalled at accurately assessing and mapping the skills of individuals both within and outside an organization, and bringing those skills into closer alignment with critical corporate objectives."
Built around Zapoint's patent-pending LifeChart(TM) technology, SkillsMapper gives users the ability to benchmark skills by employee, department, and across the company. Using graphical reports and charts, practitioners can track and analyze individual and group skills, measure core competencies, and establish skills inventories that can be drawn upon as needed.
To learn more about SkillsMapper, log on to www.zapoint.com; additional information about ArchPoint Consulting can be found at www.archpointconsulting.com.
About Zapoint
Zapoint is one of the fastest growing talent management software vendors in the market. With Zapoint's leading Talent Platform, organizations can more effectively recruit, maintain and develop their workforce capital to sustain their competitive advantage. Founded in 2007, Zapoint serves customers in virtually every country in the world. For more information, please visit www.zapoint.com.
As part of the SkillsMapper integration, ArchPoint Consulting and Zapoint will assist each other in marketing the Zapoint technology to corporate clients. It is expected that the addition of SkillsMapper will significantly enhance ArchPoint Consulting's talent management capabilities for companies dealing with strategic realignment, leadership succession, rapid expansion and other organizational change.
ArchPoint Consulting, a division of ArchPoint, is a professional services firm providing consulting, training, interim management, executive coaching and advisory services to major corporations across America and around the world. The firm serves clients in more than a dozen industries from consumer products to telecommunications, and is highly respected within the HCM field for its expertise.
"The combination of Zapoint and ArchPoint will create a leading force in the Human Capital Management space," said Zapoint founder and CEO Chris Twyman. "Together we anticipate helping ArchPoint provide its customers with the most effective portfolio of HCM products and services in the industry. This reinforces our commitment to helping customers manage and transform their human capital into a true competitive advantage."
"SkillsMapper is a highly advanced, powerful tool that will help ArchPoint Consulting differentiate itself in the talent management space," said Richard Spoon, Chief Executive Officer of ArchPoint Consulting. "SkillsMapper is unequalled at accurately assessing and mapping the skills of individuals both within and outside an organization, and bringing those skills into closer alignment with critical corporate objectives."
Built around Zapoint's patent-pending LifeChart(TM) technology, SkillsMapper gives users the ability to benchmark skills by employee, department, and across the company. Using graphical reports and charts, practitioners can track and analyze individual and group skills, measure core competencies, and establish skills inventories that can be drawn upon as needed.
To learn more about SkillsMapper, log on to www.zapoint.com; additional information about ArchPoint Consulting can be found at www.archpointconsulting.com.
About Zapoint
Zapoint is one of the fastest growing talent management software vendors in the market. With Zapoint's leading Talent Platform, organizations can more effectively recruit, maintain and develop their workforce capital to sustain their competitive advantage. Founded in 2007, Zapoint serves customers in virtually every country in the world. For more information, please visit www.zapoint.com.
Convergence Technologies Group Announces Management Education Initiatives
Convergence Technologies Group, Inc. (Pink Sheets: CNVC) with their fully owned subsidiary, Bookkeeper International Equities Inc., a private Merchant Banking Group that provides merger & acquisition advisory services, investor relations, and corporate finance consulting services to micro-cap issuers, today announces the first of their 2009 initiatives.
The backbone of any successful publicly traded company is their Management Team. It has been noted that there is a clear disconnect in the industry between the management and their responsibilities to their shareholders. Shareholder communications has been, until this point, a game of trial-and-error. Clearly, something must be done to improve relations without damaging reputation. Bookkeeper International Equities, Inc., functioning as an Advisory Management Consulting Firm under the umbrella of Convergence Technology Group, will direct a portion of company resources to focus on educating client management about their own functionality and understanding the intricacies of the junior capital markets where they trade.
Building Shareholder Equity is centered on this education. The process of creating shareholder value depends upon a unique understanding of how the markets work in the microcap & smallcap arena, and the street's definition of the word VALUE. By focusing exclusively on emerging growth markets and the issuers that trade there, Bookkeeper International Equities has developed an unparalleled understanding of how public companies must build shareholder equity in order to facilitate shareholder value. The company has recognized that this integrated knowledge is extremely valuable. By implementation of the Management Education Initiative, the company hopes to empower their client’s management teams with real world knowledge and a guiding hand in all shareholder relations to build shareholder equity and create real value.
The company will also advise issuers in the Microcap marketplace on graduations to Nationally Recognized Exchanges. Part of the management educational programs will be to strategize the best course of action to meet minimum asset requirements for Senior Markets. As previously announced, Convergence Technology Group also intends to apply for the NYSE Alternext, formerly known as the American Stock Exchange, as soon as their minimum requirements have been met.
About Convergence Technologies Group, Inc.
Convergence Technologies Group, Inc. is founded on the principle that micro-cap publicly traded companies are faced with the mandate of financing and operating two sub-businesses: the business of the operating company, and the business of the public company. Both of these aspects of the public company are equally important to get right, and Convergence’s mission is to provide the services, strategies and support to public companies in the business of being public. These services are in a constant state of demand despite prevailing market conditions. Convergence Technology Group, Inc. has made a commitment to their shareholders and plans to unveil important news and information on the company and their strategies to increase shareholder value.
For more information on Convergence Technologies Group, Inc., visit: www.cnvc.QualityStocks.net.
The backbone of any successful publicly traded company is their Management Team. It has been noted that there is a clear disconnect in the industry between the management and their responsibilities to their shareholders. Shareholder communications has been, until this point, a game of trial-and-error. Clearly, something must be done to improve relations without damaging reputation. Bookkeeper International Equities, Inc., functioning as an Advisory Management Consulting Firm under the umbrella of Convergence Technology Group, will direct a portion of company resources to focus on educating client management about their own functionality and understanding the intricacies of the junior capital markets where they trade.
Building Shareholder Equity is centered on this education. The process of creating shareholder value depends upon a unique understanding of how the markets work in the microcap & smallcap arena, and the street's definition of the word VALUE. By focusing exclusively on emerging growth markets and the issuers that trade there, Bookkeeper International Equities has developed an unparalleled understanding of how public companies must build shareholder equity in order to facilitate shareholder value. The company has recognized that this integrated knowledge is extremely valuable. By implementation of the Management Education Initiative, the company hopes to empower their client’s management teams with real world knowledge and a guiding hand in all shareholder relations to build shareholder equity and create real value.
The company will also advise issuers in the Microcap marketplace on graduations to Nationally Recognized Exchanges. Part of the management educational programs will be to strategize the best course of action to meet minimum asset requirements for Senior Markets. As previously announced, Convergence Technology Group also intends to apply for the NYSE Alternext, formerly known as the American Stock Exchange, as soon as their minimum requirements have been met.
About Convergence Technologies Group, Inc.
Convergence Technologies Group, Inc. is founded on the principle that micro-cap publicly traded companies are faced with the mandate of financing and operating two sub-businesses: the business of the operating company, and the business of the public company. Both of these aspects of the public company are equally important to get right, and Convergence’s mission is to provide the services, strategies and support to public companies in the business of being public. These services are in a constant state of demand despite prevailing market conditions. Convergence Technology Group, Inc. has made a commitment to their shareholders and plans to unveil important news and information on the company and their strategies to increase shareholder value.
For more information on Convergence Technologies Group, Inc., visit: www.cnvc.QualityStocks.net.
Convergys Reports First Quarter EPS of $0.23,Confirms 2009 EPS Guidance
Convergys Corporation, a global leader in relationship management, today announced its financial results for the first quarter of 2009.
First Quarter Highlights
-- Consolidated revenue of $695 million with net income of $28 million, or $0.23 per diluted share.
-- $33 million free cash flow, up from $7 million in the same period last year, with $278 million cash balance at the end of the first quarter, up from $240 million at year end.
-- Customer Management revenue increased 9 percent and operating margin improved 320 basis points compared with the same period last year.
-- Confirming 2009 earnings guidance of $0.90 to $1.10 per diluted share.
"In a challenging environment, we met revenue and exceeded earnings expectations and are affirming our earnings guidance," said David Dougherty, President and CEO of Convergys. "Our largest segment, Customer Management drove better year-over-year and sequential profitability. Our pipeline remains robust and we continue to sign substantial new business, although we are seeing some softness in call volumes. We are expanding our delivery footprint and are further improving the efficiency and cost structure of the operation."
"In HR Management, our clients are benefiting from our service quality and capability. We are in live operations with over half the employees under our two remaining implementations. We continue to be challenged by implementation costs and are focused on reducing the remaining risk," Dougherty continued.
"In Information Management, we are investing in enhanced capabilities and the pipeline is growing for our broad set of business and operations support offerings. With these offerings, we are positioned to return to growth as communications industry capital spending rebounds."
First Quarter Performance
Revenues - Revenues were $695 million in the first quarter of 2009 compared with $716 million in the same period last year. Growth in revenues from Customer Management was offset by revenue declines both at Information Management and HR Management.
Operating Income - Operating income in the first quarter of 2009 was $39 million, essentially the same as the prior year period. Prior year operating income included a $14 million restructuring charge and $7 million in charges related to retirement benefit plans. Operating improvements at Customer Management were more than offset by operating income declines both at Information Management and HR Management.
Tax Rate - The effective tax rate was 25 percent compared with 12 percent in the same period last year. The lower tax rate for the first quarter of 2008 was due to favorable impact from resolution of tax audits.
Net Income - Net income was $28 million, or $0.23 per diluted share compared with $36 million, or $0.28 per diluted share, in the same period a year ago.
Cash Flow - First quarter 2009 cash flow from operating activities and free cash flow were $56 million and $33 million, respectively, compared with $26 million and $7 million in the same period a year ago. This improvement was largely due to a 6-day reduction in DSO to 66 days from 72 days in the prior year period. Cash balance increased to $278 million at the end of the first quarter from $240 million at the end of 2008.
Customer Management - Customer Management revenues in the 2009 first quarter increased 9 percent to $517 million, including $43 million from Intervoice [R], compared with $476 million in the same period last year. First quarter 2009 operating income and operating margins were $40 million and 7.8 percent, respectively, compared with $22 million and 4.6 percent, respectively, in the same period last year. Year-over-year margin improvement was largely driven by effective contact center workforce management and disciplined cost management. Current year results include approximately $5 million of additional expense due to the weakened US dollar and prior year results included $5 million of restructuring charges.
Information Management - Information Management revenues in the 2009 first quarter were $108 million compared with $163 million in the same period last year, largely due to expected client migrations in North America and international project completions. First quarter 2009 operating income was $13 million compared with $30 million in the same period last year primarily due to the revenue declines. Operating margin was 11.6 percent in the 2009 first quarter, compared with 18.1 percent in the same period last year. Prior year results included $7 million of restructuring charges.
HR Management - HR Management revenues in the 2009 first quarter were $70 million compared with $77 million in the same period last year. Revenue growth in the 2009 first quarter from early-stage live operations of two large contracts was offset by a contract termination payment recorded in the prior year as well as elimination of pass-through revenue with a large HR outsourcing client during the second quarter of 2008. The first quarter 2009 operating loss was $10 million compared to $5 million in the same period last year. Results for the first quarter of 2009 include $9 million of implementation costs related to one contract which were expensed rather than capitalized. This contract remains profitable. The company is taking actions intended to limit risks and reduce costs of the future phases of its two remaining implementations. While there is a range of outcomes to these actions, the company expects the likely outcomes to be within guidance. Prior year operating loss included $2 million of restructuring charges.
Business Outlook
Convergys and its clients continue to face a challenging environment. For purposes of providing guidance, the company assumes the economic environment throughout 2009 will be generally consistent with current conditions and the company will make satisfactory progress with its two large HRM implementations. Within this uncertain environment and based on these assumptions, Convergys continues to expect earnings per diluted share within the range of $0.90 to $1.10, and free cash flow of approximately $200 million.
Forward-Looking Statements Disclosure and "Safe Harbor" Note:
This news release contains forward-looking statements that reflect Convergys' expectations as of April 28, 2009. Actual results of Convergys could differ materially from those discussed herein. For us, particular uncertainties that could adversely or positively affect our future results include: the behavior of financial markets including fluctuations in interest or exchange rates; continued volatility and further deterioration of the capital markets; the impact of regulation and regulatory, investigative, and legal actions; strategic actions, including acquisitions and dispositions; future integration of acquired businesses; future financial performance of major industries which we serve; the loss of a significant client or significant business from a client; difficulties in completing a contract or implementing its provisions; and numerous other matters of national, regional, and global scale including those of the political, economic, business, and competitive nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. Please refer to Convergys' most recent news releases and filings with the SEC for additional information including risk factors. We do not undertake to update our forward-looking statements as a result of new information or future events or developments.
Non-GAAP Financial Measures:
This news release contains non-GAAP financial measures as defined by the Securities and Exchange Commission Regulation G. Pursuant to the requirements of this regulation, reconciliations of these non-GAAP measures to their comparable GAAP measures are included in the attached financial tables.
Management uses free cash flow to assess the financial performance of the company. Convergys' management believes that free cash flow is useful to investors because it relates the operating cash flow of the company to the capital that is spent to continue and improve business operations, such as investment in the company's existing businesses. Further, free cash flow facilitates management's ability to strengthen the company's balance sheet, to repurchase the company's common shares and to repay the company's debt obligations. Limitations associated with the use of free cash flow include that it does not represent the residual cash flow available for discretionary expenditures, as it does not incorporate certain cash payments including payments made on capital lease obligations or cash payments for business acquisitions. Management compensates for these limitations by using both the non-GAAP measure, free cash flow, and the GAAP measure, cash from operating activities, in its evaluation of performance. There are no material purposes for which we use this non-GAAP measure beyond the purposes described above. This non-GAAP measure should be considered supplemental in nature and should not be considered in isolation or be construed as being more important than comparable GAAP measures. The non-GAAP financial information that we provide may be different from that provided by our competitors or other companies.
Webcast Presentation:
Convergys will hold its First Quarter Financial Results webcast presentation at 10:00 A.M., Eastern Daylight Time, Tuesday, April 28, 2009. It will feature President and CEO David F. Dougherty and Earl C. Shanks, CFO. The webcast presentation will take place live and will then be available for replay via the following link: http://investor.shareholder.com/convergys/eventdetail.cfm?eventid=67372 The replay will be available through May 27, 2009.
About Convergys
Convergys Corporation is a global leader in relationship management. We provide solutions that drive more value from the relationships our clients have with their customers and employees. Convergys turns these everyday interactions into a source of profit and strategic advantage for our clients.
For more than 30 years, our unique combination of domain expertise, operational excellence, and innovative technologies has delivered process improvement and actionable business insight to clients that now span more than 70 countries and 35 languages.
Convergys is a member of the S&P 500 and has been voted a Fortune Most Admired Company for nine consecutive years. We have approximately 75,000 employees in 84 customer contact centers and other facilities in the United States, Canada, Latin America, Europe, the Middle East, and Asia, and our global headquarters in Cincinnati, Ohio. For more information, visit www.convergys.com.
First Quarter Highlights
-- Consolidated revenue of $695 million with net income of $28 million, or $0.23 per diluted share.
-- $33 million free cash flow, up from $7 million in the same period last year, with $278 million cash balance at the end of the first quarter, up from $240 million at year end.
-- Customer Management revenue increased 9 percent and operating margin improved 320 basis points compared with the same period last year.
-- Confirming 2009 earnings guidance of $0.90 to $1.10 per diluted share.
"In a challenging environment, we met revenue and exceeded earnings expectations and are affirming our earnings guidance," said David Dougherty, President and CEO of Convergys. "Our largest segment, Customer Management drove better year-over-year and sequential profitability. Our pipeline remains robust and we continue to sign substantial new business, although we are seeing some softness in call volumes. We are expanding our delivery footprint and are further improving the efficiency and cost structure of the operation."
"In HR Management, our clients are benefiting from our service quality and capability. We are in live operations with over half the employees under our two remaining implementations. We continue to be challenged by implementation costs and are focused on reducing the remaining risk," Dougherty continued.
"In Information Management, we are investing in enhanced capabilities and the pipeline is growing for our broad set of business and operations support offerings. With these offerings, we are positioned to return to growth as communications industry capital spending rebounds."
First Quarter Performance
Revenues - Revenues were $695 million in the first quarter of 2009 compared with $716 million in the same period last year. Growth in revenues from Customer Management was offset by revenue declines both at Information Management and HR Management.
Operating Income - Operating income in the first quarter of 2009 was $39 million, essentially the same as the prior year period. Prior year operating income included a $14 million restructuring charge and $7 million in charges related to retirement benefit plans. Operating improvements at Customer Management were more than offset by operating income declines both at Information Management and HR Management.
Tax Rate - The effective tax rate was 25 percent compared with 12 percent in the same period last year. The lower tax rate for the first quarter of 2008 was due to favorable impact from resolution of tax audits.
Net Income - Net income was $28 million, or $0.23 per diluted share compared with $36 million, or $0.28 per diluted share, in the same period a year ago.
Cash Flow - First quarter 2009 cash flow from operating activities and free cash flow were $56 million and $33 million, respectively, compared with $26 million and $7 million in the same period a year ago. This improvement was largely due to a 6-day reduction in DSO to 66 days from 72 days in the prior year period. Cash balance increased to $278 million at the end of the first quarter from $240 million at the end of 2008.
Customer Management - Customer Management revenues in the 2009 first quarter increased 9 percent to $517 million, including $43 million from Intervoice [R], compared with $476 million in the same period last year. First quarter 2009 operating income and operating margins were $40 million and 7.8 percent, respectively, compared with $22 million and 4.6 percent, respectively, in the same period last year. Year-over-year margin improvement was largely driven by effective contact center workforce management and disciplined cost management. Current year results include approximately $5 million of additional expense due to the weakened US dollar and prior year results included $5 million of restructuring charges.
Information Management - Information Management revenues in the 2009 first quarter were $108 million compared with $163 million in the same period last year, largely due to expected client migrations in North America and international project completions. First quarter 2009 operating income was $13 million compared with $30 million in the same period last year primarily due to the revenue declines. Operating margin was 11.6 percent in the 2009 first quarter, compared with 18.1 percent in the same period last year. Prior year results included $7 million of restructuring charges.
HR Management - HR Management revenues in the 2009 first quarter were $70 million compared with $77 million in the same period last year. Revenue growth in the 2009 first quarter from early-stage live operations of two large contracts was offset by a contract termination payment recorded in the prior year as well as elimination of pass-through revenue with a large HR outsourcing client during the second quarter of 2008. The first quarter 2009 operating loss was $10 million compared to $5 million in the same period last year. Results for the first quarter of 2009 include $9 million of implementation costs related to one contract which were expensed rather than capitalized. This contract remains profitable. The company is taking actions intended to limit risks and reduce costs of the future phases of its two remaining implementations. While there is a range of outcomes to these actions, the company expects the likely outcomes to be within guidance. Prior year operating loss included $2 million of restructuring charges.
Business Outlook
Convergys and its clients continue to face a challenging environment. For purposes of providing guidance, the company assumes the economic environment throughout 2009 will be generally consistent with current conditions and the company will make satisfactory progress with its two large HRM implementations. Within this uncertain environment and based on these assumptions, Convergys continues to expect earnings per diluted share within the range of $0.90 to $1.10, and free cash flow of approximately $200 million.
Forward-Looking Statements Disclosure and "Safe Harbor" Note:
This news release contains forward-looking statements that reflect Convergys' expectations as of April 28, 2009. Actual results of Convergys could differ materially from those discussed herein. For us, particular uncertainties that could adversely or positively affect our future results include: the behavior of financial markets including fluctuations in interest or exchange rates; continued volatility and further deterioration of the capital markets; the impact of regulation and regulatory, investigative, and legal actions; strategic actions, including acquisitions and dispositions; future integration of acquired businesses; future financial performance of major industries which we serve; the loss of a significant client or significant business from a client; difficulties in completing a contract or implementing its provisions; and numerous other matters of national, regional, and global scale including those of the political, economic, business, and competitive nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. Please refer to Convergys' most recent news releases and filings with the SEC for additional information including risk factors. We do not undertake to update our forward-looking statements as a result of new information or future events or developments.
Non-GAAP Financial Measures:
This news release contains non-GAAP financial measures as defined by the Securities and Exchange Commission Regulation G. Pursuant to the requirements of this regulation, reconciliations of these non-GAAP measures to their comparable GAAP measures are included in the attached financial tables.
Management uses free cash flow to assess the financial performance of the company. Convergys' management believes that free cash flow is useful to investors because it relates the operating cash flow of the company to the capital that is spent to continue and improve business operations, such as investment in the company's existing businesses. Further, free cash flow facilitates management's ability to strengthen the company's balance sheet, to repurchase the company's common shares and to repay the company's debt obligations. Limitations associated with the use of free cash flow include that it does not represent the residual cash flow available for discretionary expenditures, as it does not incorporate certain cash payments including payments made on capital lease obligations or cash payments for business acquisitions. Management compensates for these limitations by using both the non-GAAP measure, free cash flow, and the GAAP measure, cash from operating activities, in its evaluation of performance. There are no material purposes for which we use this non-GAAP measure beyond the purposes described above. This non-GAAP measure should be considered supplemental in nature and should not be considered in isolation or be construed as being more important than comparable GAAP measures. The non-GAAP financial information that we provide may be different from that provided by our competitors or other companies.
Webcast Presentation:
Convergys will hold its First Quarter Financial Results webcast presentation at 10:00 A.M., Eastern Daylight Time, Tuesday, April 28, 2009. It will feature President and CEO David F. Dougherty and Earl C. Shanks, CFO. The webcast presentation will take place live and will then be available for replay via the following link: http://investor.shareholder.com/convergys/eventdetail.cfm?eventid=67372 The replay will be available through May 27, 2009.
About Convergys
Convergys Corporation is a global leader in relationship management. We provide solutions that drive more value from the relationships our clients have with their customers and employees. Convergys turns these everyday interactions into a source of profit and strategic advantage for our clients.
For more than 30 years, our unique combination of domain expertise, operational excellence, and innovative technologies has delivered process improvement and actionable business insight to clients that now span more than 70 countries and 35 languages.
Convergys is a member of the S&P 500 and has been voted a Fortune Most Admired Company for nine consecutive years. We have approximately 75,000 employees in 84 customer contact centers and other facilities in the United States, Canada, Latin America, Europe, the Middle East, and Asia, and our global headquarters in Cincinnati, Ohio. For more information, visit www.convergys.com.
StepStone Announces Global Seminar Series “HR’s Time to Shine”
StepStone (OSE:STP)(LSE:STPS), the leading provider of human capital management solutions, today announced a series of global seminars spanning 21 cities designed to highlight how it’s now HR’s time to shine. The roadshow will demonstrate how HR departments can take advantage of the slowdown and show their true value by helping their organisation win what StepStone has identified as the Cold War for Talent. A global survey of the world’s largest employers, published recently by StepStone, showed that despite widespread redundancies, many organisations are still finding it difficult to recruit and retain top talent.
StepStone’s seminars, which will take place during May and June visiting cities in the UK, Europe, Asia Pacific, Middle East, Africa and North America, will discuss how HR can increase its positive impact on the business by retaining its greatest talent assets, assess and develop employee skills to optimise internal resources and how to minimise the effects on workforce motivation if redundancies prove unavoidable.
The seminar will allow attendees to learn from other organsiations, including Mouchel about the talent management challenges they have faced as well as industry experts, such as PA Consulting who will be sharing their best practice thinking on workforce planning and analytics. The interactive sessions provide a unique opportunity for HR executives to evaluate their Talent Strategy with StepStone’s assessment tool, share experiences, network with other talent management professionals and focus on a specific topic of choice in a 1:1 session with a StepStone Best Practice Consultant.
“Our events come at a crucial time for the HR industry,” explains Jim Cassidy, Chief Marketing Officer. “Our recent global research identified the slowdown as an opportunity for HR to shine. Under the guidance of HR, a company can extract huge value from its talent strategy, drive cost savings and optimise its workforce. HR should hold the responsibility of managing internal and external talent, helping the business reposition itself for success once recovery begins.”
About StepStone
StepStone is a leading international provider of human capital management (“HCM”) software and services. Its technology and services helps organisations attract, retain and develop their talent. StepStone was founded in Norway in 1996 and listed on the Oslo Børs (Ticker@ STP.NO) in 2000 and the London Stock Exchange (LSE: STPS) in 2008.
StepStone operates some of Europe’s largest talent networks which match employers with potential employees and provides a complete suite of HCM software solutions. Through its extensive talent network in Europe, StepStone has privileged insight into the needs and demands of today’s workforce, allowing the company to develop highly innovative HCM solutions.
StepStone’s comprehensive portfolio of software and services enable organisations to implement efficient HCM processes. These services include; attraction and hiring, post-hire talent management, performance management, compensation management, skills and competency management, career and succession planning, training and development management.
As at Q4 2008 more than 1,600 organisations, including many of the world’s leading businesses, use StepStone software and services. It operates in 16 countries and employs more than 900 people. Its global customers include Aviva, Deloitte, Deutsche Telekom, Lufthansa, McDonald’s, Telefonica, ThyssenKrupp and Volkswagen.
For more information see: www.stepstone.com.
StepStone’s seminars, which will take place during May and June visiting cities in the UK, Europe, Asia Pacific, Middle East, Africa and North America, will discuss how HR can increase its positive impact on the business by retaining its greatest talent assets, assess and develop employee skills to optimise internal resources and how to minimise the effects on workforce motivation if redundancies prove unavoidable.
The seminar will allow attendees to learn from other organsiations, including Mouchel about the talent management challenges they have faced as well as industry experts, such as PA Consulting who will be sharing their best practice thinking on workforce planning and analytics. The interactive sessions provide a unique opportunity for HR executives to evaluate their Talent Strategy with StepStone’s assessment tool, share experiences, network with other talent management professionals and focus on a specific topic of choice in a 1:1 session with a StepStone Best Practice Consultant.
“Our events come at a crucial time for the HR industry,” explains Jim Cassidy, Chief Marketing Officer. “Our recent global research identified the slowdown as an opportunity for HR to shine. Under the guidance of HR, a company can extract huge value from its talent strategy, drive cost savings and optimise its workforce. HR should hold the responsibility of managing internal and external talent, helping the business reposition itself for success once recovery begins.”
About StepStone
StepStone is a leading international provider of human capital management (“HCM”) software and services. Its technology and services helps organisations attract, retain and develop their talent. StepStone was founded in Norway in 1996 and listed on the Oslo Børs (Ticker@ STP.NO) in 2000 and the London Stock Exchange (LSE: STPS) in 2008.
StepStone operates some of Europe’s largest talent networks which match employers with potential employees and provides a complete suite of HCM software solutions. Through its extensive talent network in Europe, StepStone has privileged insight into the needs and demands of today’s workforce, allowing the company to develop highly innovative HCM solutions.
StepStone’s comprehensive portfolio of software and services enable organisations to implement efficient HCM processes. These services include; attraction and hiring, post-hire talent management, performance management, compensation management, skills and competency management, career and succession planning, training and development management.
As at Q4 2008 more than 1,600 organisations, including many of the world’s leading businesses, use StepStone software and services. It operates in 16 countries and employs more than 900 people. Its global customers include Aviva, Deloitte, Deutsche Telekom, Lufthansa, McDonald’s, Telefonica, ThyssenKrupp and Volkswagen.
For more information see: www.stepstone.com.
Tuesday, April 28, 2009
Strategy Analytics and DIS Consulting See Cloud Computing and 3D as Key NAB Takeaways
Strategy Analytics and DIS Consulting identified two key media technology trends emerging from the NAB Show as it wound down last week in Las Vegas, Nevada. 3D technology and Cloud Computing Services both featured strongly at a surprisingly upbeat annual convention where attendance was off by around 20% from last year's show, yet still attracted the industry’s key senior decision makers.
The research partners, who have recently introduced a new advisory service aimed at the media creation and distribution industry, have determined that two overarching trends dominated the 2009 NAB Show:
3DTV appears to be gathering steam this year as it has begun to rally device makers, programmers, distribution channels and direct to home service providers to its cause. However, David Mercer, Principal Analyst at Strategy Analytics, points out: “Many obstacles, such as lack of standards and creative challenges, lie ahead before 3D reaches large numbers of home users.”
Simultaneously, cloud computing offers an alternative to costly, in-house labor and storage of archives, which, along with the security of fingerprinting technology, allows many processes to be transferred off-site.
Douglas I. Sheer, CEO and Chief Analyst of DIS, said, "Despite some resistance to the idea of off-site storage and the desire to fully amortize existing equipment, cloud seems to be finding a receptive audience, especially as it offers some interesting cost savings advantages."
About Strategy Analytics
Strategy Analytics, Inc focuses on market opportunities and disruptive forces in emerging technology, communications and media sectors.
Analyst Blog: www.strategyanalytics.com/blogs/author/dmercer
About D. I. S. Consulting Corporation
DIS Consulting Corporation, headquartered in New York, is the broadcast and professional media industry’s leading market research supplier. Founded in 1982, DIS has served more than 1,300 clients through publication of more than 130 multi-client reports as well as hundreds of custom consulting assignments. DIS is the strategic partner of the NAB Show for market research.
The research partners, who have recently introduced a new advisory service aimed at the media creation and distribution industry, have determined that two overarching trends dominated the 2009 NAB Show:
- The plethora of origination, post and distribution of 3D programming to homes and theaters - both hardware and software - and
- 2. The cloud computing services concepts being promoted by a number of companies including Microsoft, Chyron and others.
3DTV appears to be gathering steam this year as it has begun to rally device makers, programmers, distribution channels and direct to home service providers to its cause. However, David Mercer, Principal Analyst at Strategy Analytics, points out: “Many obstacles, such as lack of standards and creative challenges, lie ahead before 3D reaches large numbers of home users.”
Simultaneously, cloud computing offers an alternative to costly, in-house labor and storage of archives, which, along with the security of fingerprinting technology, allows many processes to be transferred off-site.
Douglas I. Sheer, CEO and Chief Analyst of DIS, said, "Despite some resistance to the idea of off-site storage and the desire to fully amortize existing equipment, cloud seems to be finding a receptive audience, especially as it offers some interesting cost savings advantages."
About Strategy Analytics
Strategy Analytics, Inc focuses on market opportunities and disruptive forces in emerging technology, communications and media sectors.
Analyst Blog: www.strategyanalytics.com/blogs/author/dmercer
About D. I. S. Consulting Corporation
DIS Consulting Corporation, headquartered in New York, is the broadcast and professional media industry’s leading market research supplier. Founded in 1982, DIS has served more than 1,300 clients through publication of more than 130 multi-client reports as well as hundreds of custom consulting assignments. DIS is the strategic partner of the NAB Show for market research.
Bluewolf Study Shows Database Management Costs Reduced by up to 60% with Remote DBA Managed Service
Bluewolf , a leading IT consulting firm, today reported the results of its study, "Rapid ROI with Remote DBA: The Operational and Cost Benefits of Bluewolf's bw.DirectDBA Remote Database Administration Service," revealing that database management costs can be reduced by up to 60% with its remote DBA managed service. Bluewolf's Remote Database Administration (DBA) managed service, bw.Direct DBA(TM), reduces the cost of day-to-day monitoring and maintenance of databases such as Oracle , MySQL and Microsoft SQL.
Heineken USA, Benjamin Moore & Co., Ogilvy & Mather, Lincoln Center for the Performing Arts, Inc. and Cooper Health Systems are among the many organizations that have turned to Bluewolf for remote DBA services.
According to Michael Kirven, co-founder and principal at Bluewolf, "Because of today's business environment and the need for tightened efficiencies, more and more organizations are turning to Bluewolf for database administration. With our remote database administration solution, we act as an extension of your staff, and are the only remote administration service that combines the cost efficiencies of remote administration with an onshore staff."
"Bluewolf's database monitoring services provide us with access to a level of monitoring services we could not afford to build internally," said Raul Velaquez, Data Architect, Heineken USA Inc. "Their support, guidance and response times have been unbelievable."
For Heineken USA, a premier beer importer in the United States and a subsidiary of Heineken N.V. (Netherlands), Bluewolf manages its Oracle 10g database that houses all of the company's information on sales, inventory and orders. Bluewolf's remote database administration services provide Heineken with complete around-the-clock monitoring, as well as access to highly skilled, certified database experts to help with ongoing maintenance to their business-critical systems.
bw.DirectDBA Service Delivers Up to 60% Cost Savings
Bluewolf helps companies increase productivity and reduce the costs of database administration. With the average cost of an in-house DBA at $138,000 per year (including benefits and training), compared to $54,000 a year ($4,500 a month) for the bw.DirectDBA service, companies can reduce database management budgets by as much as 60% by outsourcing to Bluewolf. In addition, because Bluewolf's DBA services are delivered at a contractually set price, it allows for more granular and effective financial planning for future IT expenditures.
At the same time, to assist internal resources with limited bandwidth, Bluewolf's Remote DBA service allows organizations to offload monitoring and proactive maintenance. Managers are able to reduce the risk of a single point of failure while enabling internal resources to work at 100% capacity. The monthly bw.Direct DBA service provides 24x7 support, leveraging Bluewolf's on-shore remote DBA staff, eliminating many of the problems around time zone and work day gaps caused by offshore outsourcing. The core bw.DirectDBA service includes dedicated Senior DBA resources, a single point of contact for support questions, monitoring tools and analytics, as well as case tracking and regular proactive system audits.
About Bluewolf
Founded in 2000, Bluewolf is a leading agile consulting firm. In addition to its Remote DBA service bw.DirectDBA, Bluewolf is also the leading provider of IT staffing and Cloud consulting. Bluewolf is defining a new style of consulting, one that guarantees success with tangible results. Bluewolf's clients include Dow Jones, Benjamin Moore & Co., Fox Interactive Media and Heineken USA. Bluewolf is a privately held, customer-focused global organization. For more information, visit bluewolf.com. Join the conversation on Bluewolf Twitter and Bluewolf Facebook group.
Heineken USA, Benjamin Moore & Co., Ogilvy & Mather, Lincoln Center for the Performing Arts, Inc. and Cooper Health Systems are among the many organizations that have turned to Bluewolf for remote DBA services.
According to Michael Kirven, co-founder and principal at Bluewolf, "Because of today's business environment and the need for tightened efficiencies, more and more organizations are turning to Bluewolf for database administration. With our remote database administration solution, we act as an extension of your staff, and are the only remote administration service that combines the cost efficiencies of remote administration with an onshore staff."
"Bluewolf's database monitoring services provide us with access to a level of monitoring services we could not afford to build internally," said Raul Velaquez, Data Architect, Heineken USA Inc. "Their support, guidance and response times have been unbelievable."
For Heineken USA, a premier beer importer in the United States and a subsidiary of Heineken N.V. (Netherlands), Bluewolf manages its Oracle 10g database that houses all of the company's information on sales, inventory and orders. Bluewolf's remote database administration services provide Heineken with complete around-the-clock monitoring, as well as access to highly skilled, certified database experts to help with ongoing maintenance to their business-critical systems.
bw.DirectDBA Service Delivers Up to 60% Cost Savings
Bluewolf helps companies increase productivity and reduce the costs of database administration. With the average cost of an in-house DBA at $138,000 per year (including benefits and training), compared to $54,000 a year ($4,500 a month) for the bw.DirectDBA service, companies can reduce database management budgets by as much as 60% by outsourcing to Bluewolf. In addition, because Bluewolf's DBA services are delivered at a contractually set price, it allows for more granular and effective financial planning for future IT expenditures.
At the same time, to assist internal resources with limited bandwidth, Bluewolf's Remote DBA service allows organizations to offload monitoring and proactive maintenance. Managers are able to reduce the risk of a single point of failure while enabling internal resources to work at 100% capacity. The monthly bw.Direct DBA service provides 24x7 support, leveraging Bluewolf's on-shore remote DBA staff, eliminating many of the problems around time zone and work day gaps caused by offshore outsourcing. The core bw.DirectDBA service includes dedicated Senior DBA resources, a single point of contact for support questions, monitoring tools and analytics, as well as case tracking and regular proactive system audits.
About Bluewolf
Founded in 2000, Bluewolf is a leading agile consulting firm. In addition to its Remote DBA service bw.DirectDBA, Bluewolf is also the leading provider of IT staffing and Cloud consulting. Bluewolf is defining a new style of consulting, one that guarantees success with tangible results. Bluewolf's clients include Dow Jones, Benjamin Moore & Co., Fox Interactive Media and Heineken USA. Bluewolf is a privately held, customer-focused global organization. For more information, visit bluewolf.com. Join the conversation on Bluewolf Twitter and Bluewolf Facebook group.
Emtec Hires New Director of Pursuit Management for Systems Division
Emtec, Inc. (OTCBB: ETEC), an information technology systems and services company, today announced it has expanded its management team with the addition of Paul Sanford as the Director of Pursuit Management for Emtec. This division provides IT transformation and optimization consulting, business service management, enterprise architecture, data management and integration services to customers. In this role, Mr. Sanford is responsible for creating and maintaining vendor partnerships, marketing relations and managing the growing enterprise customer demands for the organization.
Paul Sanford brings to Emtec, Inc. a wealth of sales and management experience. Prior to joining Emtec, Inc., Mr. Sanford served as a Capture Manager at EDS, a Hewlett-Packard company, in the Strategic Sales Center where he was responsible for winning opportunities that were greater than $100M. Mr. Sanford has also worked for prominent companies including the Federal Deposit Insurance Corporation (FDIC) and BearingPoint. He received an MBA from the University of Maryland and spent 19 years serving his country in the Army Reserves, currently holding the rank of Major.
“We look forward to tapping into Mr. Sanford’s industry experience to help Emtec better understand and meet customer requirements which will further increase the growth of the company,” said Ron Seitz, President, Emtec’s System Division. “This new position demonstrates our commitment to making sure the customer is heard and that the solutions they demand are delivered to meet their specific requirements. We are pleased to have him join our company and believe he will be a great addition to our management team.”
Emtec, Inc. is dedicated to optimizing technology infrastructures to support its customers organizational, financial and service level objectives. Emtec, Inc. has been delivering premier IT solutions for more than 40 years, enabling its clients to increase efficiency, productivity and competitiveness by better utilizing data. In addition, Emtec's service capabilities span the USA, Canada and countries around the globe. Through an international network of service organizations, Emtec provides support to clients, regardless of location.
About Emtec, Inc.
Emtec, Inc. established in 1964, is a systems integrator, providing services and products to the federal, state, local, education and commercial markets. Emtec operates two business segments: Emtec Systems Division and Emtec Global Services. Emtec’s Systems Division provides IT transformation & optimization consulting, business service management, enterprise architecture, data management and integration services. Emtec Global Services expertise includes software development, software consulting, business analysis, quality assurance, and testing. For more information visit www.emtecinc.com.
Paul Sanford brings to Emtec, Inc. a wealth of sales and management experience. Prior to joining Emtec, Inc., Mr. Sanford served as a Capture Manager at EDS, a Hewlett-Packard company, in the Strategic Sales Center where he was responsible for winning opportunities that were greater than $100M. Mr. Sanford has also worked for prominent companies including the Federal Deposit Insurance Corporation (FDIC) and BearingPoint. He received an MBA from the University of Maryland and spent 19 years serving his country in the Army Reserves, currently holding the rank of Major.
“We look forward to tapping into Mr. Sanford’s industry experience to help Emtec better understand and meet customer requirements which will further increase the growth of the company,” said Ron Seitz, President, Emtec’s System Division. “This new position demonstrates our commitment to making sure the customer is heard and that the solutions they demand are delivered to meet their specific requirements. We are pleased to have him join our company and believe he will be a great addition to our management team.”
Emtec, Inc. is dedicated to optimizing technology infrastructures to support its customers organizational, financial and service level objectives. Emtec, Inc. has been delivering premier IT solutions for more than 40 years, enabling its clients to increase efficiency, productivity and competitiveness by better utilizing data. In addition, Emtec's service capabilities span the USA, Canada and countries around the globe. Through an international network of service organizations, Emtec provides support to clients, regardless of location.
About Emtec, Inc.
Emtec, Inc. established in 1964, is a systems integrator, providing services and products to the federal, state, local, education and commercial markets. Emtec operates two business segments: Emtec Systems Division and Emtec Global Services. Emtec’s Systems Division provides IT transformation & optimization consulting, business service management, enterprise architecture, data management and integration services. Emtec Global Services expertise includes software development, software consulting, business analysis, quality assurance, and testing. For more information visit www.emtecinc.com.
LWG Consulting Announces Opening of Portland, OR Office
LWG Consulting, Inc., a leading provider of technical expertise following equipment or systems failure and property damage, announces the opening of a Portland, Oregon office.
Don Skaff, Director of Consulting, commented, "We're very excited for the opening of our new Portland office as it provides LWG the opportunity to better serve our clients in the Pacific Northwest and Western Canada. We have committed to our clients to cultivate an organization that can address technical issues no matter where the services might be required, and our new Portland office is an exciting and significant step in fulfilling this promise to the insurance companies, law firms and corporations whom we serve."
The Portland office joins LWG's existing seventeen North American and European offices.
Since it was founded in 1984, LWG Consulting has supported insurers, independent adjusters, self-insured corporations, and legal professionals by providing expertise with losses involving technical damage assessment, causal analysis, data recovery and computer forensics, and equipment restoration.
For more information on LWG Consulting, visit http://www.lwgconsulting.com.
Don Skaff, Director of Consulting, commented, "We're very excited for the opening of our new Portland office as it provides LWG the opportunity to better serve our clients in the Pacific Northwest and Western Canada. We have committed to our clients to cultivate an organization that can address technical issues no matter where the services might be required, and our new Portland office is an exciting and significant step in fulfilling this promise to the insurance companies, law firms and corporations whom we serve."
The Portland office joins LWG's existing seventeen North American and European offices.
Since it was founded in 1984, LWG Consulting has supported insurers, independent adjusters, self-insured corporations, and legal professionals by providing expertise with losses involving technical damage assessment, causal analysis, data recovery and computer forensics, and equipment restoration.
For more information on LWG Consulting, visit http://www.lwgconsulting.com.
Consulting Firm North Highland Named One of the 'Best Places to Work in New Jersey 2009'
North Highland, a global management and technology consulting firm with 18 North American offices, including offices in Trenton, New York and Philadelphia, has been named one of the Best Places to Work in New Jersey. North Highland placed 9th among all medium-sized organizations in the annual recognition conducted by Best Companies Group.
"I'm proud to work with individuals that make North Highland a best place to work in New Jersey. It's exciting to be part of a growing business community and to know that North Highland has made a positive impact," said Craig Sanders, Vice President.
The company considers the top 10 ranking in New Jersey an outgrowth of its unique business model and employee ownership structure.
"We have a great team with a high level of expertise, we allow them to stay local in the market, and we back them up by providing a guarantee on our work," says Ken Nowack, Vice President. "Our company structure undoubtedly enables us to value the work we do for our clients just as we value our employees."
The award program, created in 2005, is produced by NJBIZ. The program was designed to identify, recognize and honor the best places of employment in New Jersey, benefiting the state's economy, its workforce and businesses. Companies from across the state entered the two-part process to determine the 55 Best Places to Work in New Jersey. The first part consisted of evaluating each nominated company's workplace policies, practices, philosophy, systems and demographics. This part of the process was worth approximately 25% of the total evaluation. The second part consisted of an employee survey to measure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration and survey process. Additionally they analyzed the data provided and used their expertise to determine the final rankings.
North Highland is a global management and technology consulting firm that achieves exceptional results with the world's largest organizations, using a very different approach - we employ only experienced consultants, we live and work where our clients do, and we guarantee our work.
North Highland is helping business, government and non-profit clients define strategies, streamline operations, empower people, integrate suppliers, leverage technology and maximize customer interaction. We are committed to proving to clients every day why they should always expect more from us. Visit us online at www.northhighland.com.
"I'm proud to work with individuals that make North Highland a best place to work in New Jersey. It's exciting to be part of a growing business community and to know that North Highland has made a positive impact," said Craig Sanders, Vice President.
The company considers the top 10 ranking in New Jersey an outgrowth of its unique business model and employee ownership structure.
"We have a great team with a high level of expertise, we allow them to stay local in the market, and we back them up by providing a guarantee on our work," says Ken Nowack, Vice President. "Our company structure undoubtedly enables us to value the work we do for our clients just as we value our employees."
The award program, created in 2005, is produced by NJBIZ. The program was designed to identify, recognize and honor the best places of employment in New Jersey, benefiting the state's economy, its workforce and businesses. Companies from across the state entered the two-part process to determine the 55 Best Places to Work in New Jersey. The first part consisted of evaluating each nominated company's workplace policies, practices, philosophy, systems and demographics. This part of the process was worth approximately 25% of the total evaluation. The second part consisted of an employee survey to measure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration and survey process. Additionally they analyzed the data provided and used their expertise to determine the final rankings.
North Highland is a global management and technology consulting firm that achieves exceptional results with the world's largest organizations, using a very different approach - we employ only experienced consultants, we live and work where our clients do, and we guarantee our work.
North Highland is helping business, government and non-profit clients define strategies, streamline operations, empower people, integrate suppliers, leverage technology and maximize customer interaction. We are committed to proving to clients every day why they should always expect more from us. Visit us online at www.northhighland.com.
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