DUBAI, UAE, April 16, 2024 /PRNewswire/ — In a discussion among industry leaders at the Blockchain Life conference in Dubai, Bybit CEO Ben Zhou highlighted the readiness and sophistication of today’s cryptocurrency exchanges (CEXs). Zhou co-founded Bybit in 2018 and today is one of the world’s top three exchanges by volume.

During the conversation, Zhou elaborated on several aspects that underscore this era of crypto maturity. “From Bybit’s perspective, this bull market so far has been driven by institutions … Since partnering with third-party custodians like Copper and Fireblocks, institutional capital flows increased 186% last year.” Zhou pointed out that better infrastructure, and the approval of the Bitcoin spot ETFs, played a crucial role in supporting institutional entry into the crypto market.

Zhou oversaw meticulous upgrades to Bybit since the last crypto bull run in 2021, which has enabled institutional investors to deploy deeper pools of capital. “Bybit has a very fluid trading system where you can use any token to trade anything,” Zhou said, speaking live on the main stage. “So Bybit’s institutional clients have a lot of tools; they can do spread trades, arbitrage funding rates, and all kinds of sophisticated trading. Based on this, we can support new capital flows we haven’t seen before in crypto.”

The Bybit CEO also noted the evolution in service reliability amidst market volatility. “Our risk management and system resilience has been continuously improved,” Zhou said. “Even during volatile markets, Bybit remains very steady,” This stability is a testament to the sophisticated infrastructure, which supports both institutional and the exchange’s 25 million retail investors.

Zhou noted that Bybit’s retail clients can now access products that demystify sophisticated strategies. “We have a unique product called perpetual protect. It utilizes options contracts to safeguard perpetual positions from losses. Our advanced UTA (Unified Trading Account) design further empowers traders by giving them an edge in the market,” he explained. This product simplifies derivatives and options, making complex financial instruments accessible and understandable to a broader audience.

As the crypto market matures, Bybit remains at the forefront, championing innovations that align with both market trends and regulatory standards. This readiness not only marks a significant milestone for Bybit but also highlights the overall advancement of the crypto exchange industry.

#Bybit / #TheCryptoArk

About Bybit

Bybit is one of the world’s top three crypto exchanges by trading volume with 25 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.

For media inquiries, please contact: [email protected]

For more information, please visit: https://www.bybit.com

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The Total Economic Impact Study examines IA benefits on five SS&C Blue Prism customers and 166 global respondents

WINDSOR, Conn., April 16, 2024 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced the findings of The Total Economic Impact™ (TEI) of SS&C Blue Prism¹, a 2024 study conducted by Forrester Consulting. SS&C Blue Prism commissioned the study to examine the potential Total Economic Impact™ enterprises may realize by deploying an Intelligent Automation Platform, and evaluate the full potential financial impact of adopting SS&C Blue Prism Intelligent Automation. The study found a composite organization representative of interviewed customers using SS&C Blue Prism technologies saw a return on investment figure of 330% over three years, representing a net present value of $53.4 million.

“[O]ver the last five years, IA has moved from addressing mainly operational challenges to more strategic challenges,” stated the TEI study. “IA is also increasingly driven by management and leadership, rather than the IT or technology department and, while today automation management is coordinated across the organization, it used to be siloed.”

The study reveals an overall revenue growth of 5.4% CAGR for the composite customer, an 8% increase in productivity, and 7.3% increased employee retention, along with a payback time of less than six months.²

“The Forrester study’s findings confirm SS&C Blue Prism’s intelligent automation’s ability to drive business growth, enhance productivity, and improve employee retention,” said Bill Stone, Chairman and CEO of SS&C Blue Prism. “SS&C Blue Prism’s end-to-end automation and orchestration enable customers to drive value and efficiently achieve transformative results.”

Among 166 respondents Forrester surveyed, 60% revealed speed, productivity, accuracy and auditability improvements as a top benefit, while 65% had extended value across more end-to-end processes from a combined automation and orchestration solution.

Key quantified benefits over three years for the composite customer include:

• Business growth worth $50.3 million
   
• $12.7 million in improved productivity
   
• $2.4 million compliance cost avoidance
   
• $4.2 million in improved employee experience and retention

More than 2,800 customers worldwide run their operations on SS&C Blue Prism, digitizing operations across financial services, insurance, health and pharma, banking, and more. Download the study today.

Notes

¹ Total Economic Impact is a methodology developed by Forrester Research that enhances a company’s technology decision-making processes and assists vendors in communicating the value proposition of their products and services to clients. The TEI methodology helps companies demonstrate, justify, and realize the tangible value of IT initiatives to both senior management and other key business stakeholders.

² By investing in intelligent automation the study found a received revenue growth of 73% of overall NPV benefit and 5.4% compound annual growth rate (CAGR) over the previous three years for a composite customer.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

Follow SS&C on Twitter, LinkedIn and Facebook.

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Tennenbaum previously served as Avalara CFO and successfully scaled the company’s global tax automation and compliance business to more than $1 billion in 2023 revenue

SEATTLE, April 16, 2024 /PRNewswire/ — Avalara, Inc., a leading provider of cloud-based tax compliance automation for businesses of all sizes, today announced that Ross Tennenbaum has been appointed President.

In his new, expanded role, Tennenbaum will be responsible for driving company-wide improvements and ensuring the success of every Avalara customer around the globe. As Avalara President, he will oversee the majority of Avalara’s business operations including Avalara AvaTax for sales and use tax calculations, Avalara Returns, Avalara Exemption Certificate Management, Avalara Tax Research, and more. Tennenbaum will also lead the teams responsible for Avalara’s customer and compliance operations, finance functions, India operations, and legal functions.

Tennenbaum has been at Avalara for five years and has served as the company’s Chief Financial Officer since 2020, helping to scale Avalara’s business to exceed $1 billion in revenue last year. Prior to that, he served as Avalara’s Executive Vice President of Strategic Initiatives, where he led several business units tied to the company’s growth initiatives. Tennenbaum’s experience includes a 10-year investment banking career at Goldman Sachs and Credit Suisse, including working with Avalara for more than five years and leading its IPO in 2018.

“Ross has a proven track record and has been instrumental in driving growth and efficiency for Avalara,” said Scott McFarlane, co-founder and CEO of Avalara. “Our business has an ambitious and exciting goal of becoming part of every transaction in the world. We know to accomplish this goal that we must be relentlessly focused on driving improvements across our company and ensuring our customers have the best experience possible. Ross is the ideal leader to accomplish these goals while ensuring Avalara is here for generations to come.”

About Avalara
Avalara makes tax compliance faster, easier, more accurate, and more reliable for 41,000+ business and government customers in over 75 countries. Tax compliance automation software solutions from Avalara leverage 1,200+ signed partner integrations across leading ecommerce, ERP, and other billing systems to power tax calculations, document management, tax return filing, and tax content access. Visit avalara.com to improve your compliance journey.

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