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.

Logo – https://mma.prnewswire.com/media/692536/SSC_Logo.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/ssc-blue-prism-intelligent-automation-customers-unlocked-53-4m-in-value-302117704.html

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.

Photo – https://mma.prnewswire.com/media/2387093/Ross_4__1.jpg

Logo – https://mma.prnewswire.com/media/2148367/Avalara_Logo_Tag_RGB_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/avalara-appoints-ross-tennenbaum-as-president-302116973.html

DUBAI, UAE, April 16, 2024 /PRNewswire/ — Fiat infrastructure leader Banxa will add Venom-supported tokens to its Fiat onramp infrastructure, used by leading crypto exchanges such as Okx, Kucoin, Gate.IO, Bybit and others.

Integrating Venom foundation network to the Banxa Fiat rails will further boost the business value Venom presents to its Dapps and token developers community. The companies will launch and offer this value proposition to the Venom TokenForge hackathon participants this week in Dubai. Join the event at https://tokenforge.gg/.

Commenting on the cooperation, Venom foundation CEO, Christopher Louis Tsu said: “We are excited to add even more business value to our token partners by offering global Fiat access to users with Banxa onramp network. Venom has launched the most scalable layer zero blockchain network for Defi and payment Dapps and offers unique business value and monetization support for its community”.

About Banxa

Banxa is the leading infrastructure provider for enabling embedded crypto – empowering businesses to take control of their crypto journey. Through an extensive and growing network of global and local payment solutions and regulatory licenses, Banxa helps businesses provide seamless integration of crypto and fiat for global audiences with lower fees and higher conversion rates. Headquartered in the USA, Europe, and Asia-Pacific, the Banxa team is building for a world where global commerce is run on digital assets. For further information visit www.banxa.com

About Venom Foundation

The mission of Venom Foundation is to bring transparency and innovation to the industry as a leading global blockchain company. We aim to provide infrastructure for governments and web3 projects while empowering emerging economies in the Middle East and North Africa with our unique technology. For further information visit https://venom.foundation/

Contact for Venom foundation: [email protected]

View original content:https://www.prnewswire.co.uk/news-releases/fiat-infrastructure-leader-banxa-join-forces-with-venom-foundation-in-offering-venom-supported-tokens-access-to-its-global-fiat-rails-302118017.html