Press Releases

Sproutt Launches; Uses Data and AI to Finally Reward Life Insurance Customers Who Live Healthy

NEW YORK, Dec. 12, 2019 /PRNewswire/ — Sproutt Insurance, the next evolution of life insurance, announced today that it has launched and secured $12 million in Series A funding from State of Mind Ventures (SMOV), Moneta Capital, and Guardian Life. Sproutt sets out to do what many of today’s players in life insurance do not: celebrate life.

Sproutt founders: Yoav Shaham - CEO & Co Founder, Itai Brickner - Co Founder & CTO, Assaf Henkin - Co Founder & President

Sproutt’s mission is to look after the lives of those who look after theirs. Using their “Quality of Life Index” (QL Index), Sproutt believes it has never been easier to blend data analytics and human-aligned health insights, and then use artificial intelligence (AI) to discern a person’s life potential to match them with the best life insurance providers and policy.

“We don’t come from the life insurance industry,” said Sproutt’s CEO and Co-Founder Yoav Shaham. “But we have a lot of experience in unlocking the value of data in traditional markets. For decades life insurance providers have mainly sought to punish negative lifestyle choices such as smoking when calculating pricing. As crazy as it sounds, until now the industry has almost never even tried to reward people for being healthy; for being active, eating and sleeping well, or living a balanced life. Sproutt ensures that people who make positive lifestyle choices that improves their longevity are supported and rewarded with the best policies, and that they adopt these good behaviors, as it means that we all will have increasingly less expenses.”

Andrew McMahon, Executive Vice President at Guardian Life Insurance Company, one of the nation’s largest mutual life insurers, said, “Sproutt’s vision of personalized life insurance directly aligns with Guardian’s focus on providing an exceptional, effortless customer experience. We began working with Sproutt in 2018 and soon realized the potential impact their technology could have on our business and the industry at large, as evidenced by our investment. Their ambitious use of data and artificial intelligence across the customer journey is part of a broader transformation of the industry and complements our technology driven approach to customer acquisition and engagement.”

Look at the facts, life insurance is a $130 billion market that has seen a 45% decline in policyholders over the last 20 years. The industry has failed to convince consumers that their product is valuable, even when the premise of insuring your life and protecting your family is as critical as ever. 

So why is this? Are people assuming they will live forever? One of the massive issues in the market is legacy systems, attitudes, and thinking that are tied to an old-world model. “This industry is like data spaghetti that nobody has been able to untangle,” said Shaham. “We started with a clean plate and asked ourselves, how can we measure somebody’s quality of life, and how can we deliver the best experience and policy based on that?”

The ability to discern “positive data” is particularly important when we see consumers providing huge amounts of information about their personal health. So whether you’re eating well, running twice a week, practicing yoga, quitting smoking, etc. are all contributing to a lifestyle measure that is not accurately priced in the premiums they pay today for life insurance. 

Enter “Gaia” (guy-a), the Guided Artificial Intelligence Assessment technology that powers the Sproutt QL Index. Based on established research of how various lifestyle behaviors impact longevity, Gaia is able to assess and correlate a variety of previously siloed human health attributes such as sleeping patterns, eating habits, and whether you own a pet, and then leverage them for a more precise assessment of a specific individual’s health. The assessment process and resulting QL Index score are used to provide personal insights, recommendations, and best matching life insurance product.

“Breathing new life and positivity into an old industry has been both a challenge and a privilege. Sproutt believes life insurance is critical, because it protects that which is most dear to us: our families. This is why life should be celebrated,” said Assaf Henkin, President of Sproutt. “We saw how to use data and AI for good to benefit consumers and disrupt an industry that has failed to modernize. Sproutt provides people with a high quality experience and guides them to the life insurance they deserve, many times the same day they apply.” 

About Sproutt
Sproutt is a new kind of life insurance company that loves life and rewards those who love theirs. It is our purpose is to use data and AI to finally reward people who live a healthy life with the best life insurance. We believe it’s important to live a balanced life that includes a reasonable amount of exercise, eating well, and getting a proper amount of sleep. But we also believe that owning pets, being surrounded by friends and family, and feeling supported by your community, are equally important factors on longevity that should be rewarded. Whether inquiring about life insurance, or actually purchasing coverage through Sproutt, we believe it is our mission to educate and encourage everyone we meet to embrace a healthy lifestyle. For more information about Sproutt and what it means to “celebrate life”, please visit www.sproutt.com.

Contact
Jay Kolbe
jkolbe@impactpartners.llc

Sproutt logo

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SOURCE Sproutt

Top Risk Concerns for Business Leaders in 2020 Include Talent, Culture, Technology and Innovation, Finds Protiviti-NC State Survey

MENLO PARK, Calif., Dec. 12, 2019 /PRNewswire/ — Entering into a new decade, boards and C-suite leaders around the globe are concerned with the escalating competition for specialized talent, their organizations’ culture and the ability to advance their digital maturity and embrace the transformative opportunities of technology. According to a new survey from Protiviti and North Carolina State University, business leaders contend that coupled with the ongoing economic uncertainty and unknown future regulatory changes, these risks could impact their ability to effectively compete, grow their business and achieve operational targets in 2020 and beyond.

Protiviti logo. (PRNewsFoto/Protiviti) (PRNewsfoto/Protiviti)

This is according to findings from the “Executive Perspectives on Top Risks 2020” survey conducted recently by global consulting firm Protiviti and North Carolina State University Poole College of Management’s Enterprise Risk Management (ERM) Initiative. Now in its eighth year, the latest survey identified top concerns on the minds of over 1,000 board members and C-suite executives from organizations in a variety of industries around the globe. Nearly sixty-eight percent of survey respondents’ organizations have annual revenues between $100 million and $10 billion.

The Top 10 Risks for 2020

Survey respondents were asked to rate 30 macroeconomic, strategic and operational risks. Of those, the top 10 risks identified are as follows:

  1. Regulatory changes and scrutiny may impact operational resilience and production and delivery of products and services
  2. Economic conditions may significantly restrict growth opportunities
  3. Succession challenges and ability to attract and retain top talent may be more difficult
  4. Limited operational resilience of legacy IT infrastructure and digital capabilities may restrict the organization’s ability to compete with “born digital” players
  5. Resistance to change may restrict organizational agility
  6. Preparedness to manage cyber threats may be insufficient
  7. Ensuring privacy/identity management and information security/system protection may be challenging
  8. Company culture may not empower timely identification and escalation of risk issues
  9. Sustaining customer loyalty and retention may be increasingly difficult
  10. Adoption of AI-enabled technologies may require new skills that are either in short supply or require significant upskilling/reskilling of existing employees

“Nearly half of the top risks this year are related to culture and attracting and retaining top talent. This is happening at a time when organizations need to execute increasingly complex strategies to navigate the rapidly changing digitally-based business environment,” said Jim DeLoach, a Protiviti managing director and co-author of the report. “As the future of work evolves, businesses need to upskill and reskill existing employees ‑ particularly as digital innovations, such as artificial intelligence, natural language processing and robotics become a mainstay in organizations ‑ to ensure they remain competitive with ‘born digital’ companies and are future-proofed for the next decade.”

While several of the risks remain consistent with findings from previous years, including concerns around regulation, cyber threats, operational resilience, privacy management and information security, this year’s results show an escalation of anxiety related to overall economic issues across domestic and international markets – climbing from number 11 last year to the number two risk concern for 2020.

Dr. Mark Beasley, professor of Enterprise Risk Management and director of NC State’s ERM Initiative and co-author of the report said, “As expectations of key stakeholders regarding risk management and oversight remain high, organizations need to offer greater transparency about the nature and magnitude of risks undertaken in executing an organization’s corporate strategy. Dynamic forces including board pressure, volatile markets, intensifying competition, changing workplace dynamics and shifting customer preferences are leading to increasing calls for management to design and implement effective risk management capabilities and response mechanisms, to identify, assess and manage the organization’s key risk exposures.”

Given the relative riskiness of the business environment, now may be the time for boards and C-suites to closely examine how their organizations approach risk management and oversight in the digital age to pinpoint aspects requiring significant improvement. To that end, the Protiviti-NC State report includes a call to action, offering executives and directors diagnostic questions to consider when evaluating their own risk assessment and risk management processes. These diagnostic questions address five topical areas:

  • Assessing impact of leadership and culture on our risk management process, e.g., is the organization’s culture affecting how employees engage in risk management processes and conversations and, if so, how do we know?
  • Ensuring a sufficiently robust risk management approach, e.g., is the risk management process supported by an effective, robust methodology that is definable, repeatable and understood by key stakeholders?
  • Evaluating whether the risk focus is sufficiently comprehensive, e.g., to what extent is the company’s focus on external risks linked to geopolitical shifts, emerging disruptive innovations and changes in macroeconomic factors?
  • Clarifying accountabilities for managing risks, e.g., is there actionable, current risk information that is widely shared to enable more informed decision-making?
  • Communicating an enterprise view of top risks and board risk oversight, e.g., is there a periodic board-level dialogue regarding management’s appetite for risk-taking and whether the organization’s risk profile is consistent with that risk appetite?

Resources Available; Webinar on December 18
The “Executive Perspectives on Top Risks 2020” report from Protiviti and North Carolina State University provides respondent details broken out by company size, industry and geographical region and respondent role. The report, along with an infographic and a podcast series, are available for complimentary download from Protiviti here and from NC State here. A complimentary 75-minute webinar exploring the implications of the survey results will be held on December 18, 2019 at 1:00 p.m. PST, featuring Protiviti’s DeLoach and EVP Pat Scott with NC State’s Dr. Beasley. Please register for the webinar here.

About the NC State University Poole College of Management’s ERM Initiative
The Enterprise Risk Management (ERM) Initiative in the Poole College of Management at North Carolina State University provides thought leadership about ERM practices and their integration with strategy and corporate governance. Faculty in the ERM Initiative frequently work with boards of directors and senior management teams helping them link ERM to strategy and governance, host executive workshops and educational training sessions, and issue research and thought papers on practical approaches to implementing more effective risk oversight techniques (www.erm.ncsu.edu).

About Protiviti
Protiviti (www.protiviti.com) is a global consulting firm that delivers deep expertise, objective insights, a tailored approach and unparalleled collaboration to help leaders confidently face the future. Through its network of more than 85 offices in over 25 countries, Protiviti and its independent and locally owned Member Firms provide clients with consulting solutions in finance, technology, operations, data, analytics, governance, risk and internal audit.

Named to the 2019 Fortune 100 Best Companies to Work For® list, Protiviti has served more than 60 percent of Fortune 1000® and 35 percent of Fortune Global 500® companies. The firm also works with smaller, growing companies, including those looking to go public, as well as with government agencies. Protiviti is a wholly owned subsidiary of Robert Half (NYSE: RHI). Founded in 1948, Robert Half is a member of the S&P 500 index.

Protiviti is not licensed or registered as a public accounting firm and does not issue opinions on financial statements or offer attestation services.

Editor’s note: Photos and infographics (PDF or JPEG) available upon request.

 

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SOURCE Protiviti

Announcing Pathr™, the Industry’s First AI-powered Spatial Intelligence Platform

MOUNTAIN VIEW, Calif., Dec. 12, 2019 /PRNewswire/ — Pathr.ai, the industry’s first and only Machine Learning (ML) enabled Spatial Intelligence platform using anonymous location data to drive real-time business insights, today announced its recent name change and official company launch.  Pathr™, formerly known as Brain of the Store, helps entities across vertical industries better understand how the movement of people and objects in and around an organization’s physical space directly impacts success. 

The industry’s first and only Machine Learning (ML) enabled Spatial Intelligence platform using anonymous location data to drive real-time business insights

Pathr’s proprietary “behavior engine” delivers valuable spatial analytics and customer behavior knowledge, derived from predictive algorithms and advanced data analysis.  The technology helps businesses and organizations promote deeper, more meaningful interactions with key constituents—by mapping and evaluating their physical movement through any number of locations or venues.  Because it operates in real time, Pathr has the ability to directly impact business outcomes as they occur, during the moments that matter most—for example, to influence an in-store customer sale. 

Using cutting-edge Artificial Intelligence (AI), Pathr turns previously unusable “raw” location data into actionable insights to help businesses grow revenue and increase customer engagement.  Because Pathr is agnostic to the source of location data it uses, it is able to ingest information from different types of sensing equipment, making it a true open platform.  Pathr utilizes all existing hardware—cameras, beacons, RFID and other tools—ensuring that users do not need to modify their infrastructure to take advantage of the platform.  Pathr software also connects that data to specific business use cases, which is unique within the industry.

Pathr’s software enables users to:

  • Determine optimal timing for employee-customer interactions
  • Create more targeted, higher quality “on-the-floor” exchanges
  • Increase top and bottom-line profits
  • Streamline operational efficiencies
  • Improve loss prevention/mitigate theft
  • Tap anonymous, private data intelligence
  • Support sales, marketing, communications and human resources channels

“Pathr is different from any other data analytics provider on the market today, and is the first to deliver advanced Spatial Intelligence,” said George Shaw, Pathr Founder and CEO.  “Pathr’s software has the potential to truly transform sales results and the quality of the on-site customer interface from the ‘ground floor’ up.  Our behavior engine enables businesses to assess and better manage the many interactions taking place within their physical environment through a whole new lens—and in real time.  Additionally, Pathr technology works across an organization’s entire physical eco-system, rendering game-changing revenue impact for multi-store, multi-location brands.”

Ready made for retail

In commercial settings, Pathr offers brick-and-mortars a fresh approach to traditional shopper marketing.  The Pathr toolkit reveals critical information about store floor dynamics and customer browsing/buying behavior patterns previously unavailable to the industry.  Because Pathr is built as a fully integrated, robust technology “platform” versus an app, it delivers deep insights capable of solving a host of sales and logistical challenges.  The end result:  a more informed customer Path to Purchase, stronger closure rate, and overall increase in income-generation. 

“Pathr is a serious new tool in the brick-and-mortar manager’s arsenal when it comes to maximizing in-store efficiencies,” said Ryan Parker, Chief Operations Officer for Pathr.  “The personal customer experience that shoppers receive at a physical retail location is an element of sales and marketing that online brands simply can’t replicate.  Pathr levels the playing field with e-commerce and enables retail managers to take full advantage of these 1:1 physical interactions.  For the first time, our spatial analytics platform matches location data to real business scenarios, offering retail brands a proven methodology for capturing greater share of customer.”

Privacy focused solution

While Pathr is geared to the customer side of the retail experience, the platform also improves loss prevention.  With Pathr, store managers now have a long-awaited, privacy-compliant tool to detect and stop theft before it happens.  Because it uses anonymous location-based data, Pathr tracks only the representation of a customer or object’s movement—displayed as a simple “dot” on a digital interface.  No personal information, socio-economic, demographic or individual visual data is ever captured, making Pathr the industry’s only 100% real-time, private spatial analytics platform.  According to the National Retail Federation, the U.S. retail industry loses approximately $46.8 billion annually from in-store inventory shrinkage.   Pathr offers a way to combat these mounting statistics—without any form of customer profiling.

New “behavior engine” that works across verticals

While Pathr’s software is particularly valuable in the retail context, its behavior engine also benefits other verticals. Industries ideal for utilizing Pathr’s Machine Learning-enabled models include malls, casinos, sporting and entertainment venues, airports, factories, warehouse and even public spaces where the ability for management to properly understand in-venue traffic flow is essential.  Pathr’s algorithm sets can even offer valuable intelligence for the transportation space—analyzing how cars, buses, and trains interact with one another as they move about within a specific physical environment.

“Through the advanced use of spatial analytics, Pathr opens up an entirely new means for smart businesses to realize stronger profits and more effective operations,” said Ken Jackowitz, Chief Product & Marketing Officer, Office Depot/CompuCom.  “The platform marks a paradigm shift in how organizations of all kinds will approach the spatial aspects of business management.  Pathr offers tremendous potential for any entity looking to achieve greater revenue upside and competitive advantage across their enterprise.  It’s also an example of Machine Learning protocols ‘in action’—changing the way we think about, and solve, fundamental challenges with fresh technology solutions.”

Pathr will exhibit at the invitation-only Innovation Lab (Booth #7004) during the 2020 National Retail Federation Big Show, January 12-14th, 2020 at Jacob K. Javits Convention Center in New York.  

For more information, or to schedule a live demo, please visit the brand’s new corporate website at Pathr.ai.

 

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SOURCE Pathr.ai

Lux Research Identifies the Key Impacts Digitalization Is Having on the Food Industry

BOSTON, Dec. 12, 2019 /PRNewswire/ — Digitalization is at the heart of the rapidly evolving agrifood ecosystem, according to a major new report released today by Lux Research, a leading provider of tech-enabled research and advisory services. The report outlines the challenges the agrifood industry has faced in recent years and the digital tools that offer potential solutions to those challenges across food processing and production, supply chain management, and personalized nutrition.  

(PRNewsfoto/Lux Research)

Through a series of data-backed use cases, Lux’s new report, “The Digital Transformation of the Food Industry,” identifies a framework that agrifood industry players should use to evaluate and implement digital tools for solving specific business issues. The analysis reveals that a key challenge for players attempting to interface with digital technologies in food production is the tendency to act tactically from a tech-first perspective rather than acting strategically from an issue-to-outcome perspective. Lux’s digital transformation framework offers a method that industry players can follow to achieve successful testing and adoption of digital tech in food production.

“The ability to address consumers’ future needs is the driving force behind the rapidly evolving agrifood sector,” said Harini Venkataraman, lead analyst of the report. “To adequately meet this changing landscape, major industry players must act now to build a robust digital strategy that identifies the right set of digital tools for the right products to maximize the value-add for their respective businesses.”

The report finds that, while other industrial sectors have been quicker to implement digital solutions like artificial intelligence, augmented reality, industrial IoT, and robotics, the agrifood industry is making great strides to catch up. The impact on the sector will be significant as a means to address consumer demands for personalized product offerings and to manage a more integrated, digital, and omnichannel global supply chain. 

“As companies in the food industry are trying to embrace digital transformation, this report is a critical resource to uncover the true potential of digital technologies applied to the right use cases,” said Venkataraman. “More than in other industries, digitalization in food will be a common thread across the entire agrifood ecosystem to enable industry players to address consumers’ future needs. The fact is, food companies that resist the digital conversion will not be able to keep up with more digital-savvy innovators, and will face higher R&D costs, longer product development timelines, and shrinking market share.”

For more information about how the digitalization of the food industry will impact both consumers and the agrifood industry in the coming years, you can download the report’s executive summary here.

About Lux Research

Lux Research is a leading provider of tech-enabled research and advisory services, helping clients drive growth through technology innovation. A pioneer in the research industry, Lux uniquely combines technical expertise and business insights with a proprietary intelligence platform, using advanced analytics and data science to surface true leading indicators. With quality data derived from primary research, fact-based analysis, and opinions that challenge traditional thinking, Lux empowers clients to make more informed decisions today to ensure future success. 

For more information, visit www.luxresearchinc.com, read our blog, connect on LinkedIn, or follow @LuxResearch.   

Contact Information:  
Jess Bonner 
press@luxresearchinc.com  
(617) 502-3219 

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SOURCE Lux Research

Testing, Inspection & Certification Market Size Worth $404.7 Billion by 2025: Grand View Research, Inc.

SAN FRANCISCO, Dec. 12, 2019 /PRNewswire/ — The global testing, inspection, and certification market size is expected to reach USD 404.7 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to witness a CAGR of 5.2% from 2019 to 2025. Testing, inspection, and certification (TIC) services are being adopted rapidly due to the strict implementation of testing, inspection, and certification regulations. The market incumbents cater to various range of industries and sectors across the globe with a variety of legislation and standards.

Grand View Research Logo

Key suggestions from the report:

  • The rise in manufacturing, construction, and infrastructure sectors provides a higher number of growth opportunities for the testing, inspection, and certification (TIC) market
  • The increase in the outsourcing of testing, inspection, and certification services by major industries operating in the automotive, manufacturing, and consumer goods, is projected to boost the market growth
  • The government of different countries in APAC are promoting various development plans. For instance, the 13th Five Year Plan of China stated the development of green transportation solutions for the advancement of the transportation sector in China
  • Key market players are considering partnerships and acquisition of startups providing innovative products to expand their outreach in the market
  • The key competitors in the TIC market are ALS Limited; Applus+; Bureau Veritas SA; UL LLC; DNV GL; Eurofins Scientific; Element Materials Technology; Intertek Group plc; SGS SA; TÜV NORD GROUP; MISTRAS Group, Inc.; TÜV Rheinland; TÜV SÜD; and DEKRA SE.

Read 100 page research report with ToC on “Testing, Inspection, And Certification Market Size, Share & Trends Analysis Report By Service Type, By Sourcing Type, By Application (Consumer Goods & Retail, Agriculture & Food), By Region, And Segment Forecasts, 2019 – 2025” at: https://www.grandviewresearch.com/industry-analysis/testing-inspection-certification-market

Owing to the increasing presence of international players in growing economies, such as India and China, governments are taking the help of these industry participants for regulating the quality of various products and services through third-party inspection services. Furthermore, with the gradual development of these economies, issues concerning food safety standards and environmental protection are anticipated to emerge over the forecast period. Consumer concerns related to health and safety issues arising from the use of consumer electronics, as well as the quality of consumer goods, has necessitated governments to regulate the quality of the products manufactured domestically.

Also, an upsurge in the volume of traded goods has a direct impact on the number of certifications and inspecting services. With globalization, supply chains are increasingly becoming more complex. Increasing end-user quality expectations and outsourcing have led to a rise in the demand for independent TIC services. Organizations are aiming to ensure that processes, infrastructures, and products meet the required regulations and standards in terms of social responsibility, environmental protection, health and safety, and quality, thus reducing the risk of accidents and failure. This includes services such as the inspection and testing of bulk carriers that might be carrying different types of commodities, such as livestock, grains, or petroleum.

The Asia Pacific regional TIC market is expected to witness steady growth over the forecast period, owing to the growing economic and regulatory factors. The governments of several countries in the region are promoting various development plans in multiple application areas such as manufacturing, infrastructure, automotive, agriculture, and food. Also, the role of TIC is expected to change with the emergence of digital technologies such as connected devices, connected vehicles, mobile payments, and artificial intelligence. With the penetration of such technologies in this region, the inspection and testing of software and software-based service would gain importance similar to that of hardware testing and inspection.

Grand View Research has segmented the global TIC market based on service type, sourcing type, application, and region: 

  • Testing, Inspection, and Certification Service Type Outlook (Revenue, USD Billion, 2014 – 2025)
    • Testing
    • Inspection
    • Certification
  • Testing, Inspection, and Certification Sourcing Type Outlook (Revenue, USD Billion, 2014 – 2025)
    • In-House
    • Outsourced
  • Testing, Inspection, and Certification Application Outlook (Revenue, USD Billion, 2014 – 2025)
    • Consumer Goods & Retail
    • Agriculture & Food
    • Chemicals
    • Infrastructure
    • Energy & Power
    • Education
    • Government
    • Manufacturing
    • Healthcare
    • Mining
    • Oil & Gas and Petroleum
    • Public Sector
    • Automotive
    • Aerospace & Defense
    • Supply Chain & Logistics
    • Others
  • Testing, Inspection, and Certification Regional Outlook (Revenue, USD Billion, 2014 – 2025)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Russia
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
    • South America
      • Brazil
      • Argentina
    • Middle East & Africa
      • Saudi Arabia
      • UAE

Find more research reports on Next Generation Technologies Industry, by Grand View Research:

  • Automation Instrumentation Market – Global automation instrumentation market is expected to witness brisk growth owing to rapid industrialization over the forecast period.
  • Waste Derived Biogas Market Waste derived biogas market is expected to witness significant growth over the forecast period owing to rising environmental awareness and price instability & supply anxieties associated with the use of fossil fuels.
  • Unmanned Aerial Vehicle Market – Global unmanned aerial vehicle (UAV) industry is anticipated to see a high growth on account of its increasing application in military, surveillance, and commercial activities.

Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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SOURCE Grand View Research, Inc.

Global $26.5Bn Human Capital Management Market Outlook, 2024 – Rising Adoption of Cloud-based Software Solutions Present Opportunities

DUBLIN, Dec. 12, 2019 /PRNewswire/ — The “Human Capital Management Market by Software (Core HR, Applicant Tracking System, HR Analytics, Workforce Management), Service, Deployment Type (cloud and on-premises), Organization Size, and Region – Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

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The HCM market is estimated to be USD 16.7 billion in 2019 and projected to reach USD 26.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 9.7% during the forecast period.

The HCM market comprises major solution providers, such as Workday (US), Oracle (US), ADP (US), SAP (UK), Microsoft (US), IBM (US), Ultimate Software (US), Ceridian (US), SumTotal (US), Kronos (US), Infor (US), Cornerstone (US), Meta4 (US), Ramco Systems (India), Bamboo HR (US), Namely (US), and Workforce Software (US). The study includes an in-depth competitive analysis of key players in the HCM market with their company profiles, recent developments, and key market strategies.

Increasing government regulations and growing need to monitor entire employee lifecycle are the major factors that will drive the adoption of HCM solutions across enterprises

The integration of emerging technologies, such as Artificial Intelligence (AI) and Machine Learning (ML), with HCM solutions, is expected to be one of the strongest factors for HCM solution and services adoption across regions.

Cloud deployment type is expected to grow at a higher CAGR during the forecast period

Majority of HCM solutions are expected to be deployed in the cloud, and so cloud-based deployment will outperform the on-premises deployment and will have a higher CAGR during the forecast period. Enterprises are moving toward cloud-based deployment to minimize operational costs and achieve greater ease in sharing data with multiple parties.

BFSI industry vertical to hold the highest market share in 2019

The Banking, Financial Services, and Insurance (BFSI) vertical is one of the early adopters of HCM solutions to effectively manage the entire lifecycle of employees. The same trend is expected to be there in the coming years, and the vertical is expected to adopt HCM solutions to manage internal as well as external employees. BFSI enterprises deal with a diverse workforce from office employees, contingent workforce, third-party workforce, and others. As the vertical needs to manage these workforces and comply with government regulations, the vertical will have the highest adoption of HCM solutions and services.

APAC to grow at the highest CAGR during the forecast period 

The Asia Pacific (APAC) region is expected to be the top adopter of HCM solutions where the vertical will have the highest growth rate during the forecast period. The APAC region has huge potential in terms of adoption due to the presence of countries such as India, China, and Japan, growing workforce, and huge number of small and medium enterprises. Small and medium enterprises are expected to have high adoption of HCM solutions in the next 5 years due to the rising demand by these enterprises to manage their workforce.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Human Capital Management Market
4.2 Market By Vertical and Region
4.3 Market By Deployment Type
4.4 Market By Component
4.5 Market By Organization Size
4.6 Market Potential

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Innovation Spotlight
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Integration of AI and ML in HCM Suites
5.3.1.2 Need for Reducing HR-Related Costs Fueling the Market Demand
5.3.2 Restraints
5.3.2.1 Security Concerns Over Cloud-Based Deployment
5.3.3 Opportunities
5.3.3.1 Rising Adoption of Cloud-Based Software Solutions
5.3.3.2 Advancements in Potential Markets
5.3.4 Challenges
5.3.4.1 Data Inconsistency Due to the Adoption of Multiple Advanced Technologies and HR Standards Among Businesses
5.3.4.2 Lack of Competent Resources
5.4 Industry Trends
5.4.1 Developed Unified System of Global HR Records With Improved Scalability and Real-Time Reporting Through Human Capital Management
5.4.2 Increased Resource Availability Through Elimination of Substantial Manual Tasks Using Human Capital Management Solution
5.4.3 Streamlined Global HR Operations, Enhanced Employee Experience, and Increased Organizational Agility and Speed With Human Capital Management Solutions

6 Human Capital Management Market By Component
6.1 Introduction
6.2 Software
6.3 Services

7 Market By Software
7.1 Introduction
7.2 Core HR
7.2.1 Benefits and Claims Management
7.2.2 Payroll and Compensation Management
7.2.3 Learning Management
7.2.4 Succession Planning
7.3 Applicant Tracking System
7.4 HR Analytics
7.5 Workforce Management
7.5.1 Absence Management
7.5.2 Performance Management
7.5.3 Workforce Scheduling
7.5.4 Time and Attendance Management
7.5.5 Workforce Analytics

8 Human Capital Management Market By Service
8.1 Introduction
8.2 Integration and Implementation
8.3 Support and Maintenance
8.4 Consulting

9 Market By Deployment Model
9.1 Introduction
9.2 On-Premises
9.3 Cloud

10 Market By Organization Size
10.1 Introduction
10.2 Large Enterprises
10.3 Small and Medium-Sized Enterprises

11 Market By Vertical
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.3 Government
11.4 Manufacturing
11.5 Telecom and IT
11.6 Consumer Goods and Retail
11.7 Healthcare and Life Sciences
11.8 Energy and Utilities
11.9 Transportation and Logistics
11.10 Others

12 Human Capital Management Market By Region
12.1 Introduction
12.2 North America
12.2.1 United States
12.2.2 Canada
12.3 Europe
12.3.1 United Kingdom
12.3.2 Rest of Europe
12.4 Asia Pacific
12.4.1 China
12.4.2 Rest of Asia Pacific
12.5 Middle East and Africa
12.5.1 Kingdom of Saudi Arabia
12.5.2 Rest of Middle East and Africa
12.6 Latin America
12.6.1 Mexico
12.6.2 Rest of Latin America

13 Competitive Landscape
13.1 Competitive Leadership Mapping
13.1.1 Visionary Leaders
13.1.2 Dynamic Differentiators
13.1.3 Innovators
13.1.4 Emerging Companies

14 Company Profiles
14.1 Introduction
14.2 Workday
14.3 Oracle
14.4 ADP
14.5 SAP
14.6 Microsoft
14.7 IBM
14.8 Ultimate Software
14.9 Ceridian
14.10 SumTotal
14.11 Kronos
14.12 Talentsoft
14.13 Employwise
14.14 People strategy
14.15 Infor
14.16 Cornerstone OnDemand
14.17 Meta4
14.18 Ramco Systems
14.19 BambooHR
14.20 Namely
14.21 Workforce Software

For more information about this report visit https://www.researchandmarkets.com/r/6jn7d6

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

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SOURCE Research and Markets

Frederickson Partners Continues Growth In New Cities Adding An Executive Team Member

MENLO PARK, Calif., Dec. 12, 2019 /PRNewswire/ — Frederickson Partners, the largest Human Resources and People executive search and consulting firm in the US, continues to expand to meet employers’ needs for top HR talent. The firm has recruited Chief Growth Officer Brian Brinkley based in Chicago, Illinois.

Frederickson’s 2020 trajectory includes growth in the firm’s US and global HR search practices. In 2019, Frederickson’s international reach continued by completing HR searches for global tech unicorns and other high growth enterprises in the US, Asia, Europe and Latin America including UK, Seoul, Brazil and Mexico. Nationally, the company has added to its footprint by conducting HR searches in Chicago, Indiana, Washington DC, Florida, Seattle, New York, Texas, Ohio, Connecticut, Washington, Arizona and all major cities in California including Los Angeles, San Diego, San Francisco, Oakland and San Jose.

Frederickson Partner’s CEO and Founder, Valerie Frederickson, stated, “With the increasing utilization of artificial intelligence in strategic HR and the focus on building companies based on culture and values, the need for experienced, modern HR and People executives continues to climb. Across every part of our industry segmentation from health tech to enterprise software, biotech and not-for-profits, we anticipate increased demand for experienced HR and People leaders who utilize culture to create engagement.”

A Spotlight on Frederickson’s New Executive Team Member

Brian Brinkley joins Frederickson as Chief Growth Officer. Brian will lead the Go to Market and Business Development functions and focus on the increasing needs of Frederickson’s clients as they grow their businesses. With his extensive experience in HR transformation, Total Rewards, HR Technology and HR professional services, Brian will partner and mentor clients on growth.

Brian is a nationally recognized thought leader in human capital management with a track record that includes years of management consulting at PwC and progressive to executive leadership roles at Aon Hewitt, West Monroe Partners, Premise Health and Evive.

Frederickson Partners recruits high impact human resources and People leaders for innovative, high-growth and transformational companies. Frederickson matches startups, tech unicorns, and the Fortune 500 with world class, full-time and project-based talent and works closely with VC and PE firms to build their portfolio companies’ HR teams. Featured clients include Alphabet, Facebook, Gartner, Gilead, Intel, Pinterest, ServiceNow, Roche, Twitter, Uber and Workday.

For more information, follow Frederickson Partners on LinkedIn or email to info@fredericksonpartners.com.

 

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SOURCE Frederickson Partners

Salesforce names Bret Taylor President & Chief Operating Officer

SAN FRANCISCO, Dec. 12, 2019 /PRNewswire/ — Salesforce (NYSE: CRM), the global leader in CRM, today announced that Salesforce President and Chief Product Officer Bret Taylor has been appointed President and Chief Operating Officer. In this role, Taylor will lead Salesforce’s global product vision, engineering, security, marketing and communications. Taylor will continue to report to Chairman and co-CEO Marc Benioff.

Salesforce (PRNewsFoto/salesforce.com) (PRNewsfoto/Salesforce)

“Bret has been the chief architect of our product vision, development and go-to-market strategy, driving success for our customers with our industry-leading Customer 360 platform,” said Salesforce Chairman and co-CEO Marc Benioff. “His expanded portfolio of responsibilities will enable us to drive even greater customer success and innovation as we experience rapid growth at scale.”

“Bret has been an amazing leader and partner throughout his time at Salesforce,” said Salesforce co-CEO Keith Block. “This is the natural next step for our company as we continue to drive innovation and deliver the incredible experiences our customers expect from Salesforce.”

Taylor is the co-founder and former CEO of Quip, which was acquired by Salesforce in 2016. He has spent his career building widely used products for businesses and consumers. Prior to founding Quip, Taylor served as the Chief Technology Officer of Facebook, which he joined in 2009 after it acquired his social networking company, FriendFeed. Bret also spent several years at Google, where he co-created Google Maps. Taylor is a member of Twitter’s board of directors. He graduated from Stanford University with a B.S. and M.S. in Computer Science.

About Salesforce
Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Founded in 1999, Salesforce enables companies of every size and industry to take advantage of powerful technologies—cloud, mobile, social, internet of things, artificial intelligence, voice and blockchain—to create a 360-degree view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.

 

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SOURCE Salesforce

PeopleScout’s Affinix™ Talent Technology Wins Gold for HR Software Enterprise Product of the Year in 9th Annual Best in Biz Awards

CHICAGO, Dec. 12, 2019 /PRNewswire/ — PeopleScout’s proprietary talent acquisition technology Affinix has been named a gold winner in the HR Software Enterprise Product of the Year category in the 2019 Best in Biz Awards. Winners were determined based on scoring from prominent editors and reporters from top-tier publications in North America, including AdWeek, Associated Press, Barron’s, Consumer Affairs, USA Today and Wired.

(PRNewsfoto/PeopleScout)

Affinix creates an engaging hiring process that mimics the usability of the best consumer websites to drive improved results for the talent acquisition process. Designed in response to changes in candidate preferences, skills shortages and digital disruption, Affinix provides access to the latest talent acquisition tools in one platform. Artificial intelligence, machine learning and other emerging technologies extend across Affinix, streamlining the sourcing, screening and candidate engagement process to identify the top talent more efficiently.

“Affinix improves outcomes for recruiters and candidates by making applying for a job simpler and more convenient,” said Taryn Owen, President of PeopleScout. “We continue to think creatively to find better ways for our clients to connect with the talent they need and we are committed to ongoing Affinix success and product innovation. This recognition by the Best of Biz judges is exciting validation of the strength of the Affinix product.”

Launched in 2017, Affinix has delivered significant performance improvements to PeopleScout clients in the Americas and Asia Pacific. In September 2019, Affinix was introduced to the European marketplace to help employers expedite and simplify the process of acquiring new talent.

Affinix Performance Improvements

  • Artificial intelligence identifies an average of 43 more candidates per requisition.
  • Percentage of candidates applying on mobile increases nearly three-fold.
  • Applicant conversion has increased from an average of 30% to 80% with easy apply features.
  • Virtual assessment and scheduling reduce time-to-fill by as much as 35%.

Affinix Recognition

  • Affinix won “Most Innovative Enterprise Solution” in the 2019 Recruiting Service Innovation (ReSIs) Awards at TAtech North America in Austin, Texas on September 25.
  • Affinix won the 2018 gold award in the “Best Advance in RPO Technology” category in Brandon Hall Group’s Human Capital Management (HCM) Excellence Awards.
  • Affinix won the 2018 HRO Today TekTonic award in the Candidate Experience category.

PeopleScout continues to lead the talent acquisition industry with its innovative talent technology and solutions. In 2019, PeopleScout was named the No. 1 MSP provider for the third consecutive year, the No. 1 RPO provider in APAC, the No. 3 RPO provider in EMEA and an Enterprise and Healthcare RPO Leader on HRO Today’s Baker’s Dozen Customer Satisfaction Ratings. PeopleScout was named a Leader and Star Performer in Everest Group’s RPO Services 2019 PEAK Matrix™ Assessment and a Leader in all categories on the NelsonHall 2019 NEAT vendor evaluation for RPO.

About PeopleScout
PeopleScout, a TrueBlue company, is the world’s largest RPO provider managing talent solutions that span the global economy, with end-to-end MSP capabilities supporting total workforce needs. PeopleScout boasts 97% client retention managing the most complex programs in the industry. The company’s thousands of forward-looking talent professionals provide clients with the edge in the people business by consistently delivering now while anticipating what’s next. Affinix™, PeopleScout’s proprietary talent acquisition platform, empowers faster engagement with the best talent through an AI-driven, consumer-like candidate experience with one-point ATS and VMS integration and single sign-on. Leveraging the power of data gleaned from engaging millions of candidates and contingent associates every year, PeopleScout enhances talent intelligence for clients across more than 70 countries with headquarters in Chicago, Sydney and London and global delivery centers in Charlotte, Toronto, Montreal, Bristol, Krakow, Gurgaon and Bangalore. For more information about PeopleScout and its Now to Next brand promise, please visit www.peoplescout.com.

Press Contact
Caroline Sabetti
Global VP of Marketing and Communications
312-560-9173
csabetti@peoplescout.com 

 

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SOURCE PeopleScout

Adlumin Adds Threat Intelligence Portal to Crowdsource Threat Detection

WASHINGTON, Dec. 12, 2019 /PRNewswire-PRWeb/ — The newly launched Adlumin Threat Intelligence Portal (ATIP) provides powerful new capabilities to the already robust cloud-native SIEM from Adlumin, a cybersecurity company dedicated to defending corporate networks from threats, malfunctions, and IT operations failures. ATIP is a threat intelligence platform that conducts searches across numerous databases, and the world’s largest crowdsourced threat intelligence database – with additional integrations in the works.

“Integrating with our threat intelligence sources enables a collaborative defensive system through community-powered threat data,” said Adlumin CEO Robert Johnston. “With these upgrades, every Adlumin user now has access to crowdsourced threat intelligence from more than 100,000 participants in 140 countries. That adds up to millions of threat indicators daily.”

The portal automatically checks millions of dangerous Indicators of Compromise (IOC) against the IP traffic in your network, providing additional context to make informed decisions about your network’s security, based on similar threats flagged in other users’ networks. It facilitates real-time searches of individual IP address across the three threat intelligence databases, in addition to firewalls, VPN servers, and network security appliances. Users receive immediate notifications of potentially dangerous events. ATIP also allows users to share information about suspected threats with others.

The new platform builds on Adlumin’s existing line of dependable, easy-to-use network protection and breach detection software. Users can access ATIP from the main Adlumin dashboard, where clear, color-coded visualizations aid the user experience.

“ATIP was designed for ease of use. Adlumin listened to customers’ needs and worked closely with them to design this new SIEM feature to further enhance security. Users now have even greater security, visibility, and automated compliance,” said Tim Evans, Adlumin SVP, chief of strategy and co-founder.

ATIP provides financial institutions with automated threat detection at an intermediate level of security within Domain 2 of the FFIEC CAT and ACET. ATIP will automatically provide an organization automated security threat alerts without any work on the part of the protected organization. Plus, the ATIP main dashboard provides a real-time feed with articles from top cybersecurity news and information sources.

About Adlumin: Adlumin is a leading cybersecurity service provider for financial institutions, based in Washington, D.C., serving a variety of global financial sector and government clients. The company was founded under the desire to “add luminosity” to customers’ cybersecurity processes through real-time threat detection, analysis, and response to ensure sensitive data remains secure. The Adlumin team continually evaluates and upgrades its revolutionary, artificial intelligence and machine learning-focused solutions to maintain the advantage over would-be intruders in the rapidly evolving cybersecurity sector.

 

SOURCE Adlumin