Companies that ignore emotional intelligence will have challenges attracting new talent, degrade their workplace culture and risk falling behind in the economy of the future says new global study by Harvard Business Review Analytic Services.
A global study by Harvard Business Review Analytic Services (HBR-AS) and presented by Four Seasons Hotels and Resorts calls for a corporate culture transformation driven by the power of emotional intelligence (EI).
For many years, EI has been the cornerstone of empowered, engaged and energetic corporate cultures.
Yet the study outlines a troubling trend: companies worldwide are underestimating the value of EI, and there is a growing disconnect between what executives are saying about the importance of company culture and what they are actually doing.
Emotional intelligence is a combination of self-awareness, self-control, empathy and social skills. It is the bedrock of deep personal relationships and fosters an environment wherein employees can innovate, solve problems and feel empowered to serve as ambassadors for their brand. Nonetheless, EI is often downplayed as a 'nice-to-have' soft skill when compared to others skills such as mental toughness, drive and analytical ability.
Four Seasons has long celebrated the importance of EI in building its world-renowned service culture and is internationally recognized as an employer of choice, including having been named a "Great Place to Work Legend". Inspired by this legacy, Four Seasons sponsored the HBR-AS study to elevate the discourse around corporate culture and champion the "EI Advantage" as an important driver of company culture innovation.
"Long before the term emotional intelligence was coined, Four Seasons Founder and Chairman Isadore Sharp understood that empathetic, self-aware employees would build a sustainable competitive advantage in a fiercely competitive industry," says Christian Clerc, President, Worldwide Hotel Operations, Four Seasons Hotels and Resorts.
"Change is hard, and cultural change is even harder," continues Clerc. "More than ever, customers are seeking connections with the companies who serve them, and emotionally intelligent employees are the key to delivering an authentic customer experience. For companies to succeed, they must keep pace with social change and the expectations of new generations. They must have a purpose that extends beyond financial goals, and a work environment that brings out the best in its people. In this context, prioritizing emotional intelligence represents nothing less than the evolution of the modern workplace."
The study takes a close look at EI in the workplace to better understand the gap between theory and practice, as well as the reasons why some organizations embrace EI skills and why others dismiss it as a 'soft skill'. Mastery of EI skills has become more critical as employees, particularly those on the front lines, make decisions that can materially impact a brand's reputation and its connection to customers – for better or worse.
"Companies love to talk about the importance of their people and the strength of their human-centric workplace, yet many fail to promote EI among their leaders and their workforce," says Alex Clemente, managing director, HBR-AS. "This research shows that many companies struggle to champion EI and reap the myriad benefits for their organizations – including happier, motivated, and effective employees. Even more, employers wanting to create the workplace of the future – the one that millennials are demanding – must understand that ignoring EI not only has grave impact on their human capital, but ultimately on their future success."
HBR-AS Research Report Key Findings
The study presents ample evidence to illustrate that emotionally intelligent companies report higher levels of productivity and employee engagement than those that ignore EI. This advantage gives them an innovation premium through stronger customer loyalty and profitability, as well as employee engagement and satisfaction. In study after study, poor corporate cultures and those with languid purposes are often the primary culprit standing in the way of everything from achieving digital transformation to creating exemplary customer experiences. According to the survey, sidelining EI has significant consequences, including low productivity, lukewarm innovation and an uninspired workforce.
Key findings from the report include:
The full research report and links to additional EI resources can be found here.
About Four Seasons Hotels and Resorts
Founded in 1960, Four Seasons Hotels and Resorts is dedicated to perfecting the travel experience through continual innovation and the highest standards of hospitality. Currently operating 115 hotels and resorts, and 43 residential properties in major city centres and resort destinations in 48 countries, and with more than 50 projects under planning or development, Four Seasons consistently ranks among the world's best hotels and most prestigious brands in reader polls, traveller reviews and industry awards.
Four Seasons Hotels and Resorts is also proud to be an employer of choice and, for the 22nd consecutive year, has been named to FORTUNE's 100 Best Companies to Work for List. With its 2019 ranking, Four Seasons is now one of only eight organisations to be included on this list since its inception in 1998. The list is compiled annually by FORTUNE and global research and consulting firm Great Place to Work, with results based on survey responses from employees who rate their workplace culture on 50-plus elements.
About Harvard Business Review – Analytics Services
Harvard Business Review Analytic Services is an independent commercial research unit within Harvard Business Review Group, conducting research and comparative analysis on management challenges and emerging business opportunities.
HBR-AS conducted interviews with nearly 600 global members of the HBR Advisory Council. The study, with a margin of error of +/- 3.5%, surveyed respondents from organizations with 50+ employees and who came different levels of seniority: executive management (17%), senior management (35%), middle management (30%) and other levels (18%).
Schedulicity Secures $22M Funding Round to Drive Growth and Announces Launch of Payment Processing Technology
Leading Online Scheduling Platform Will Offer Lowest Rates for Credit Card Transactions to Thousands of Small Business Owners.
Schedulicity, the leading online platform for consumers to schedule appointments, classes and workshops in more than 50 industries—announced a $22 million funding round, raised with private investors. This capital will support the launch of a disruptive payment processing platform, an upcoming consumer-facing brand campaign, as well as growth at the company's Bozeman, Montana headquarters.
Schedulicity Pay will offer users the lowest rates in the industry, with a 1.99% card processing fee. The launch includes the release of a countertop payment processing device, as well as a mobile credit card reader that will be distributed to thousands of new and existing Schedulicity businesses this month.
"By launching payment for our partner businesses at the lowest rates available, and with no contracts or hidden fees, we are aiming to create the simplest solution for small business owners around the country," said Jerry Nettuno, Schedulicity Founder and CEO. "We are setting out to demystify payment processing while offering our professionals the tools and extra resources to be the best entrepreneurs they can be."
Schedulicity has experienced rapid growth as online and mobile scheduling become the preference for consumers in the salon, spa, health and wellness categories. The platform saw 20 million bookings in 2018, and more than $8 billion in revenue has been generated on the platform by more than 120 thousand service professionals since the company's launch in 2010.
In addition, this fall, Schedulicity will launch a nationwide marketing campaign designed to elevate brand awareness among consumers and drive increased bookings for businesses using Schedulicity's platform.
Schedulicity is the leading online platform to discover and schedule appointments, classes and workshops in more than 50 industries. From beauty and salon services, spa, skincare, massage, fitness and more, Schedulicity makes it easy for millions of people to connect with the right providers in more than 9,000 cities. With Schedulicity, businesses and service professionals are able to streamline daily operations, focusing less on administrative tasks and more on the work they love. Since launching in 2010, the Bozeman, Montana-based company has helped generate more than $8 billion in commerce for its partner businesses.
SAS ranks second in revenue in 2018 for artificial intelligence (AI) software platforms.
While the overall artificial intelligence (AI) market saw steady growth last year, SAS experienced growth at a rate nearly four times faster than the overall market, at 104.6% according to the IDC report, Worldwide Artificial Intelligence Software Platforms Market Shares, 2018: Steady Growth — Moving Toward Production1. SAS ranked second overall in 2018 in the AI software platforms category.
"SAS had impressive growth in the artificial intelligence market, no doubt as a result of its leadership in analytics," said David Schubmehl, Research Director, Cognitive/Artificial Intelligence Systems at IDC. "As organizations move from experimentation to production in AI to solve their business problems, many are looking for a trusted vendor that offers analytics expertise and domain knowledge. SAS' embedded AI capabilities and integration with open source technologies allows organizations to take advantage of the technology to automate processes, without the heavy lifting of training AI models."
To continue fostering innovation and progress in an expanding market, SAS has committed to invest $1 billion in AI over the next three years. The $1 billion investment focuses on three main areas:
Devoting 26% of its overall revenue to R&D, SAS reinvests more than twice the average for major technology firms.
"AI has been an integral part of SAS software for years," said Jim Goodnight, CEO of SAS. "Today we continue to move beyond the hype to make AI real for our customers, building on our strong foundation in advanced analytics. From machine learning, deep learning, computer vision and natural language processing to forecasting and optimization, SAS helps customers in many industries benefit from AI technologies and the intelligence they create."
Customers using AI from SAS include Lockheed Martin, Royal Bank of Scotland and Honda. Learn more about how SAS delivers AI, empowering organizations to make more intelligent and automated business decisions. One of the key technologies for doing this is SAS® Viya®, transparent, interpretable technology that helps users at all skill levels automate complex tasks to build world-class analytical models.
SAS is the leader in analytics. Through innovative software and services, SAS empowers and inspires customers around the world to transform data into intelligence. SAS gives you THE POWER TO KNOW®.
For more information, please visit: ww.sas.com
Companies Invest Heavily in Employee Health Management IT Solutions to Improve Employees' Well-Being
Soaring medical costs and loss of productivity due to absenteeism and disability are key factors influencing investments in the sector, finds Frost & Sullivan.
Employers around the world are losing an aggregate of $300 billionannually in medical and productivity costs due to increasing incidences of employees suffering major illnesses. To tackle this global challenge, companies are collaborating with progressive employee health management information technology (EHM IT) solution providers to deploy state-of-the-art wellness programs that ensure employee well-being and better financial performance. Frost & Sullivan forecasts that the surge in demand for EHM IT services will lead the market to grow at a compound annual growth rate (CAGR) of 25% between 2019 and 2024, rising from $1.15 billion to a staggering $3.52 billion.
"Most global enterprises have invested in corporate policies that include holistic provisions for workplace wellness, but in many cases, they overlook the importance of devising employee-specific health benefit plans. This results in poor engagement and less-than-optimal outcomes in terms of EHM program return on investment (ROI)," said Koustav Chatterjee, Healthcare Industry Analyst, Frost & Sullivan. "Therefore, it is crucial for companies to adopt IT-enabled EHM strategies that empower employers to deploy personalized wellness, behavior change, surgical rehabilitation and benefits management services for their employees who are either at home or at the office and on the go."
Frost & Sullivan's latest analysis, Global Employee Health Management IT Market, Forecast to 2024, highlights how digital health platforms are expected to help employers in devising and scaling these clinical and wellness programs. This study also classifies key markets based on their receptivity for employer-specific health and wellness initiatives that are delivered through digital health platforms.
North America leads the market in the adoption of progressive EHM IT programs that deliver disease-specific services and measure outcomes at all levels. Employers in Europe, on the other hand, prioritize behavioral health as much as clinical health and are more likely to adopt multi-vertical EHM platforms. As for the Asia-Pacific region, the core emphasis is on formulating culturally relevant and ethnically appropriate EHM programs that can yield better employee engagement, while the Middle East and African markets are focusing on formulating policies that prioritize corporate wellness, with a notion to create an ecosystem of holistic EHM.
"North America remains well represented by progressive EHM IT vendors; however, the greatest business opportunity in this sector lies in the Middle East and Africa," noted Chatterjee. "Here, the increase in employee benefit costs is projected to be the highest among the studied regions due to the rising prevalence of lifestyle and chronic diseases in the workplaces."
Employers and vendors operating in the EHM IT sector can capitalize on the opportunities in:
Global Employee Health Management IT Market, Forecast to 2024 is part of Frost & Sullivan's healthcare research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success.
PepsiCo & Inter-American Development Bank Partnership Helps More Than 765,000 People in Latin America Gain Access to Clean Water
Partnership is Part of PepsiCo's Efforts to Expand Access to Safe Water Globally, which has Supported more than 22 Million Individuals in Need Since 2006.
PepsiCo, Inc. announced that its partnership with the Inter-American Development Bank (IDB), the largest source of development financing in Latin America, has helped more than 765,000 people in rural areas of Mexico, Peru, Colombia and Honduras gain new or improved access to drinking water and sanitation services since 2011. With grants to IDB in 2011 and 2016 totaling $7 million The PepsiCo Foundation, the company's philanthropic arm, has helped catalyze $547 million in additional funding from others to support infrastructure investments and upgrades in these communities.
In Latin America and the Caribbean, nearly 230 million people lack access to safe and clean drinking water. Due in part to population growth and variability in the distribution of water resources, according to IDB, regional water scarcity is increasing, threatening the health and safety of communities, profoundly impacting hygiene and contributing to waterborne diseases, famine, migration and violence.
"One of the main areas of our partnership with The PepsiCo Foundation through the AquaFund focuses on bringing water and sanitation to rural communities in remote and dispersed areas, usually more difficult to reach," said Sergio I. Campos G., IDB Water and Sanitation Division Chief. "Access to safe water and improved sanitation services has a positive impact on the health and overall wellbeing of these communities, unlocking their social and economic potential."
As part of an effort to address this issue, PepsiCo made the first and only private sector investment in IDB's Aquafund, a main financing mechanism to support water and sanitation investments in rural and displaced Latin Americacommunities which receive less support for clean water projects than more densely populated areas.
The PepsiCo-funded pilots were highly effective, providing more than 765,000 people access to clean water in their communities primarily through the installation of water pumps and pipes. The pilot programs helped more than 485 households in 11 communities in Mexico and more than 3,700 students at 10 local schools in Colombia gain better access to drinking water and sanitation services. The successful pilots attracted additional support from international public sector partners, that provided funding to build new infrastructure, including pipe systems and treatments plants.
"At PepsiCo, we believe that access to safe water is a fundamental right – no matter where you live, no one should be left behind," said Roberta Barbieri, Vice President, Global Sustainability at PepsiCo. "We're working to make this right a reality by advancing community-based, self-sustaining water conservation and distribution programs in high-need areas across the globe—including through partnerships like PepsiCo's with IDB that has raised half a billion of essential funding. Because of the catalytic nature of the potential impacts, public-private partnerships are one of the most effective ways to tackle the growing water crisis and provide critical support to communities in need."
As part of its goal to expand access to safe water in some of the world's most water-stressed communities, The PepsiCo Foundation is also working with WaterAid to bring clean water to more than 200,000 people living in communities in southern India facing extreme water shortages, specifically in Palakkad (Kerala), Nelamangala (Karnakata), and Sri City (Andhra Pradesh). With a $4.2 million investment, the partners are implementing solutions that include adding new wells, harvesting rainwater in schools and building piped water supply systems. To date, WaterAid has built 200 new water supply schemes, restored more than 130 pieces of existing infrastructure and organized more than 150 community hygiene promotion and water security learning sessions. The PepsiCo Foundation and WaterAid plan to bring similar solutions to other high-water-risk communities with the intention that increasing access to clean water will positively impact the health, security and employment opportunities of local residents, particularly women, who otherwise have to walk long distances to collect water.
PepsiCo has set a number of interconnected goals that aim to contribute to its Positive Water Impact, meaning its efforts and partnerships are designed to enable long-term, sustainable water security for its business and others who depend on water availability. As part of its Positive Water Impact strategy, PepsiCo is also dedicated to conserving and protecting fresh water and is supporting The Nature Conservancy's work with farmers, landowners, businesses, and communities in the United States and Latin America to install efficient irrigation technology, protect upstream forests, and establish water funds that help replenish at-risk watersheds.
In the United States, PepsiCo is helping replenish watersheds in Arizona, Arkansas, California, Colorado, North Carolina, Texas, and Utah. Through the partnership, water conservation projects in Colombia, Mexico, Brazil, Guatemala, and the Dominican Republic were implemented in 2018 with the goal to protect and restore water basins and to recover native ecosystems. This work has the potential to benefit 41 million people living and working in these crucial watersheds. In addition, PepsiCo is a founding member of the Greater Cape Town Water Fund in South Africa and has made the largest financial commitment to date in order to help bridge the gap between water supply and demand through nature-based solutions that will restore critical catchments in Western Cape.
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $64 billion in net revenue in 2018, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 22 brands that generate more than $1 billion each in estimated annual retail sales. Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose.
"Winning with Purpose" reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of the business. For more information, visit www.pepsico.com
About The PepsiCo Foundation
Established in 1962, The PepsiCo Foundation works with nonprofit partners and invests in the essential elements of a sustainable food system – helping alleviate hunger, manage water and waste responsibly, and support women as champions of nutrition from farm to family.
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.
City of Helsinki Launches Local Sustainability Programme in Response to Citizen Concern About Climate Change. The Think Sustainably service empowers residents and visitors to make informed daily choices, rating the Finnish capital's restaurants, attractions, shops and accommodation against bespoke sustainability criteria.
According to a survey carried out by the City of Helsinki in 2018, two thirds of residents identified the climate crisis as their major concern when thinking about the future of the city. In response, Helsinki has launched Think Sustainably, the world's first online service that enables making sustainable choices as easy as using an app.
Think Sustainably provides residents, visitors and business owners with practical tools to rethink their daily behaviour and make more sustainable lifestyle and business decisions.
Services filtered through the online programme include restaurants, shops, events, experiences and accommodation, each benchmarked against tailor-made criteria developed by the City of Helsinki in collaboration with the independent think tank Demos Helsinki, local interest groups and sustainability experts. The service also includes a route planner feature that enables choosing emission-free transportation options to the wide variety of experiences on offer in the city. The route planner provides CO2 emissions in grams per person per trip. Currently gathering feedback from users, the Think Sustainably service is publicly available with plans to roll the programme out further and review its impact in 2020.
Cities house more than half of the world's population and are responsible for over 70 per cent of the world's energy-related carbon emissions (C40). The City of Helsinki recognises that cities are at the forefront of combating climate change and implementing innovative policies. The City is aware of the need of systemic change in habits and the programme is the latest initiative to support its 2035 carbon neutral target. In developing Think Sustainably, The City has recognised the unique role that cities play in creating solutions to enable change in everyday lifestyles to address the global climate crisis.
Kaisa-Reeta Koskinen, the Director of the City of Helsinki's Carbon Neutral Helsinki Initiative said:
"The shift towards carbon neutrality requires both major structural changes and everyday actions. Individual choices matter: According to recent studies, in order to stop further climate warming, every Finn should reduce their carbon footprint from 10.3 tonnes to 2.5 tonnes by the year 2030. If one person in each of the 2.6 million households existing in Finland would reduce their carbon footprint by 20 per cent, we would reach 38 per cent of the goals set for Finland in the Paris climate agreement for reducing emissions."
The process of developing the Think Sustainably service included researching the most significant factors of ecological sustainability related to different service categories. These dealt mostly with greenhouse emissions caused by energy production, the impacts of mobility and food, waste management, factors related to circular economy, protecting biodiversity, accessibility, and employment and preventing discrimination. The criteria encourage all the service providers to improve their action towards a sustainable way of operating and has already resulted in several service providers making changes such as switching energy and heating contracts to more environmentally friendly options. The aim of the criteria was also to be accessible to many different types of service providers because the City of Helsinkibelieves that everyone should have the opportunity to be part of a bigger wave of change.
Tia Hallanoro, Director of Brand Communications & Digital Development at Helsinki Marketing said:
"Locals in Helsinki are very concerned about climate crisis, over two thirds of us think it's the most worrying thing affecting our future. Many feel frustrated that there's nothing they can do to stop it. There's a great demand for the frustration to be channelled into something productive that allows us to rethink our lifestyle and consumer patterns. As a service, Think Sustainably gives you concrete tools for that. We certainly need everybody on board."
In June 2019, Helsinki was crowned as the most innovative region in the EU by the European Commission, and is a European Capital of Smart Tourism 2019. The City is the first European city and, the second globally (after New York) to report voluntarily to the UN on its implementation of the Sustainable Development Goals and leads the way in experimenting with sustainable policies and initiatives. In addition to offering emission-free public transport options throughout the centre of the city, Helsinki is home to Flow Festival, one of the world's leading carbon neutral music festivals; the Nordic region's first zero waste restaurant Nolla, and non-profit foundation Compensate which was established to fight climate change by using compensation payments to donate towards international carbon sink projects.
Laura Aalto, CEO at Helsinki Marketing, said:
"Helsinki is the perfect test-bed for solutions that can later be scaled-up for the world's megacities. Operating like a city-scale laboratory, Helsinki is eager to experiment with policies and initiatives that would not be possible elsewhere. The City is able to effect change in this way because of its compact size, well-functioning infrastructure and well-developed knowledge-economy cluster. Helsinki is not finished developing its sustainable policies but is ready to make systematic efforts, both big and small, which work towards achieving a more sustainable world, we hope that others can also learn from our experiments."
The version of Think Sustainably launched in June 2019 is a pilot service and for now includes 81 participating service providers. The programme will be further developed to include a larger range of sustainable choices from restaurants to mobility.
For more information: www.myhelsinki.fi/en/think-sustainably
Itiviti, a leading technology and service provider to financial institutions worldwide, has partnered with B3, the Brazilian stock exchange. This partnership will ensure reliable connectivity between global firms and B3 members.
B3 joins Itiviti's Global Alliance Program (GAP), the umbrella under which the company manages all partner relationships globally, enabling clients to leverage a highly integrated network of technology providers. This strategic partnership will provide B3 members with access to the growing set of services including advanced analytics, monitoring and post-trade processing through the NYFIX portal. Additionally, this will create a higher quality experience across the board for all DMA, drop copies and order messages for B3 members.
"Through Itiviti GAP we're expanding a strong Capital Markets ecosystem of technologically savvy firms and providing access to our order routing network, customized TCA reporting, and industry-leading NYFIX Matching," said Lael Wakefield, Head of Americas, Itiviti.
"Internationalizing the B3 experience has been top of mind for several years," said Adolpho Bianchi, Superintendent of Products, Technology Services and Market Data at B3. "The combined services of B3 and Itiviti's NYFIX improves the ease of access to Brazilian clients on a global scale, creating a higher quality experience across the board for all DMA, drop copies and order messages."
This latest partnership comes on the heels of several other NYFIX partnerships across LATAM since the merger of Itiviti and Ullink in 2018. "In the past year we've made a push to increase investments in our Latin America order routing network," said Wakefield. "This partnership supports our local presence while expanding our global reach."
NYFIX is a global connectivity ecosystem with a community of 1,600 buy and sell-side firms of all sizes, including more than 150 exchanges and alternative venues worldwide. It has provided continuous service over more than ten years of operations with zero downtime.
Itiviti enables financial institutions worldwide to transform their trading and capture tomorrow. With innovative technology, deep expertise and a dedication to service, we help customers seize market opportunities and guide them through regulatory change. Top-tier banks, brokers, trading firms and institutional investors rely on Itiviti's solutions to service their clients, connect to markets, trade smarter in all asset classes by consolidating trading platforms and leverage automation to move faster. A global technology and service provider, we offer the most innovative, consistent and reliable connectivity and trading solutions available. With presence in all major financial centers and serving around 2,000 clients in over 50 countries, Itiviti delivers on a global scale.
For more information, please visit www.itiviti.com
B3 S.A. (B3SA3) is one of the main financial market infrastructure companies in the world and one of the largest in terms of market capitalization among global leaders in the exchange industry. B3 connects, develops and enables the financial and capital market and, together with customers and society, boosts Brazil's growth. It trades in stock exchange and OTC environments, and offers products and services to the financing chain. Headquartered in São Paulo and with offices in London and Shanghai, B3 performs important functions in the market by promoting best practices in corporate governance, risk management and sustainability. B3. With the market. For the future.
For further information, please visit http://www.b3.com.br/en_us
Global financial platform with over 21 million monthly users also reaches Top 400 Global Sites on Alexa, the definitive indicator of website popularity.
Investing.com today announced that its Android app has reached 10 million downloads, marking the latest crucial milestone for the leading financial markets platform that is empowering its millions of users with the highest-quality and most up-to-date financial knowledge.
Available on iOS and Android, the Investing.com app has been the highest-rated financial markets app on Google Play for five consecutive years. It offers real-time data on markets worldwide, a calendar of global economic events customized to users' interests, a personalized portfolio for tracking users' favorite financial instruments, customizable alerts, economic events, news and analysis, and quick access to world-class financial tools.
Investing.com has also recently reached the Top 400 Global Sites on Alexa, the Amazon-owned company whose traffic analysis is considered the definitive indicator of website popularity. In fact, Investing.com cracked the Alexa 400 just months after reaching Alexa's Top 500 Global Sites this past April.
"Our dual milestones in app downloads and website traffic — a mere few months after we had already reached the Alexa 500 — combine to represent a strong indicator of Investing.com's rapid growth, and the intensifying demand among users around the world for highly accessible real-time financial information that puts individual investors in the driver's seat," said Mickey Winitsky, Co-CEO of Investing.com.
Investing.com provides real-time data, quotes, charts, financial tools, breaking news and analysis across 250 exchanges around the world in 44 international editions. With more than 21 million monthly users, and over 180 million monthly sessions, Investing.com is one of the top three global financial websites according to both SimilarWeb and Alexa.
Covering over 300,000 financial instruments, Investing.com offers unlimited access to cutting-edge financial market tools and insights, completely free of charge. In addition to the global stock markets, Investing.com also covers commodities, cryptocurrencies, world indices, bonds, funds, ETFs and world currencies.
The Investing.com app in particular is an embodiment of the platform's objective to be a one-stop-shop for its users.
"It's truly humbling to reach 10 million downloads on our Android app, and we're thrilled to know that our apps are providing quality and valuable financial information for so many traders and investors across the globe," said Shlomi Biger, Co-CEO of Investing.com. "As the world's number one financial markets app, we will continue to provide our users with the most comprehensive and reliable financial data around, readily available on the most user-friendly apps."
Founded in 2007, Investing.com is a financial markets platform providing real-time data, quotes, charts, financial tools and much more across 250 exchanges worldwide. With more than 21 million monthly users, and over 180 million sessions, it is one of the top three global financial websites.
Investing.com offers unlimited access to financial market tools such as customized portfolios, personal alerts, calendars, calculators, and financial insights, completely free of charge.
Over the years, Investing.com established itself as a trustworthy publisher, allowing hundreds of loyal advertisers the opportunity for global and local exposure, on all available platforms.
On August 12, the startup ecosystem Born2Global Centre and Howard County Economic Development Authority (HCEDA) signed an MOU on joint support for startups. The signing ceremony was attended by Howard County Executive Calvin Ball, First Lady of Maryland Yumi Hogan, HCEDA CEO Lawrence Twele, Maryland Department of Commerce Deputy Secretary Benjamin Wu, and Embassy of the Republic of Korea in USA Counselor Dr. Dokyu Lee.
The purpose of the MOU is to help Korean startups gain a solid foothold in the US market by providing assistance with establishing local hubs and a stable business foundation. The Howard County Innovation Center will create a soft-landing zone at the HCEDA for qualified South Korean startups.
The HCEDA is a department affiliated with Maryland's Howard County and is responsible for economic development in Howard County. It currently operates the Howard County Innovation Center, the Maryland Center for Entrepreneurship, and the Business Resource Center with the aim of cultivating companies with innovative technologies and startups.
The signing ceremony included a business seminar conducted by the State of Maryland and a session introducing the technology and demonstrating the services of six Korean startups (Hylium Industries, MOIN, 12CM, LentinAR, LUXROBO, GSIL) for key venture capital firms in Howard County. Investment meetings were also held for the Korean startups.
Howard County Executive Calvin Ball said, "Howard County not only has the highest proportion of Korean-American residents in Maryland but also is home to over 170 companies owned by Korean-Americans. Through our MOU with the Born2Global Centre, we will be actively supporting companies with innovative technologies that have high potential for growth so they can establish themselves successfully in the United States."
Chief Executive Director Jongkap Kim of the Born2Global Centre said, "Our collaboration with Howard County will be of significant assistance to Korean companies in terms of finding the varying things they need to do business locally and to expand their business foundations. The synergy created by our lengthy expertise in entering foreign markets and Howard County's professional consultation services, network connections, and infrastructure will greatly enhance the competitiveness of Korean startups."
For more detailed information on Born2Global Centre, visit www.born2global.com
About Born2Global Centre
Born2Global Centre (www.born2global.com) is a full-cycle service platform for global expansion. Since inception in 2013, Born2Global has been setting the standard for successful startup ecosystem as the main Korean government agency under the Ministry of Science and ICT. Born2Global has expanded and transformed startups to be engaged, equipped and be connected with the global market.
Breaches Pose Growing Risk for Small Businesses, Costing up to 5% of Annual Revenue.
IBM Security has announced the results of its annual study examining the financial impact of data breaches on organizations. According to the report, the cost of a data breach has risen 12% over the past 5 years and now costs $3.92 million on average. These rising expenses are representative of the multiyear financial impact of breaches, increased regulation and the complex process of resolving criminal attacks.
The financial consequences of a data breach can be particularly acute for small and midsize businesses. In the study, companies with less than 500 employees suffered losses of more than $2.5 million on average – a potentially crippling amount for small businesses, which typically earn $50 million or less in annual revenue.
For the first time this year, the report also examined the longtail financial impact of a data breach, finding that the effects of a data breach are felt for years. While an average of 67% of data breach costs were realized within the first year after a breach, 22% accrued in the second year and another 11% accumulated more than two years after a breach.
The longtail costs were higher in the second and third years for organizations in highly-regulated environments, such as healthcare, financial services, energy and pharmaceuticals.
"Cybercrime represents big money for cybercriminals, and unfortunately that equates to significant losses for businesses," said Wendi Whitmore, Global Lead for IBM X-Force Incident Response and Intelligence Services. "With organizations facing the loss or theft of over 11.7 billion records in the past 3 years alone, companies need to be aware of the full financial impact that a data breach can have on their bottom line –and focus on how they can reduce these costs."
Sponsored by IBM Security and conducted by the Ponemon Institute, the annual Cost of a Data Breach Report is based on in-depth interviews with more than 500 companies around the world that suffered a breach over the past year. The analysis takes into account hundreds of cost factors including legal, regulatory and technical activities to loss of brand equity, customers, and employee productivity.
Some of the top findings from this year's report include:
Malicious data breaches cost companies in the study $4.45 million on average – over $1 million more than those originating from accidental causes such as system glitch and human error. These breaches are a growing threat, as the percentage of malicious or criminal attacks as the root cause of data breaches in the report crept up from 42% to 51% over the past six years of the study (a 21% increase).
That said, inadvertent breaches from human error and system glitches were still the cause for nearly half (49%) of the data breaches in the report, costing companies $3.50 and $3.24 million respectively. These breaches from human and machine error represent an opportunity for improvement, which can be addressed through security awareness training for staff, technology investments, and testing services to identify accidental breaches early on. One particular area of concern is the misconfiguration of cloud servers, which contributed to the exposure of 990 million records in 2018, representing 43% of all lost records for the year according to the IBM X-Force Threat Intelligence Index.
Breach Response Remains Biggest Cost Saver
For the past 14 years, the Ponemon Institute has examined factors that increase or reduce the cost of a breach and has found that the speed and efficiency at which a company responds to a breach has a significant impact on the overall cost.
This year's report found that the average lifecycle of a breach was 279 days with companies taking 206 days to first identify a breach after it occurs and an additional 73 days to contain the breach. However, companies in the study who were able to detect and contain a breach in less than 200 days spent $1.2 million less on the total cost of a breach.
A focus on incident response can help reduce the time it takes companies to respond, and the study found that these measures also had a direct correlation with overall costs. Having an incident response team in place and extensive testing of incident response plans were two of the top three greatest cost saving factors examined in the study. Companies that had both of these measures in place had $1.23 million less total costs for a data breach on average than those that had neither measure in place ($3.51 million vs. $4.74 million).
Additional factors impacting the cost of a breach for companies in the study included:
Number of compromised records:
The study also examined the cost of data breaches in different industries and regions, finding that data breaches in the U.S. are vastly more expensive – costing $8.19 million, or more than double the average for worldwide companies in the study. Costs for data breaches in the U.S. increased by 130% over the past 14 years of the study; up from $3.54 million in the 2006 study.
Additionally, organizations in the Middle East reported the highest average number of breached records with nearly 40,000 breached records per incident (compared to global average of around 25,500.)
For the 9th year in a row, healthcare organizations in the study had the highest costs associated with data breaches. The average cost of a breach in the healthcare industry was nearly $6.5 million - over 60% higher than the cross-industry average.
About IBM Security
IBM Security offers one of the most advanced and integrated portfolios of enterprise security products and services. The portfolio, supported by world-renowned IBM X-Force® research, enables organizations to effectively manage risk and defend against emerging threats. IBM operates one of the world's broadest security research, development and delivery organizations, monitors 70 billion security events per day in more than 130 countries, and has been granted more than 10,000 security patents worldwide.
For more information, please check www.ibm.com/security
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