Connect with us

Technology

AI ADOPTION IN FP&A SAVES PROFESSIONALS UP TO 200 HOURS AND £100,000 ANNUALLY

Published

on

AI Revolution in FP&A is Set to Offer One of the Most Impactful Transformations in Finance

LONDON, Nov. 6, 2024 /PRNewswire/ — ICit Business Intelligence, a leading Workday Adaptive Planning Solution Provider, has today released new research showing that Artificial Intelligence (AI) and Machine Learning (ML) will reshape the future of Financial Planning and Analysis (FP&A), empowering finance professionals to become more trusted, strategic partners to their organisations. According to the latest ICit-commissioned report: Harnessing AI for enhanced Financial Planning & Analysis, FP&A teams are already experiencing substantial financial and time-saving benefits by utilising AI.

AI’s potential for savings and efficiency gains is transforming the role of teams

The independent study*, conducted with 300 UK FP&A professionals, revealed that 85% of organisations are already using AI-powered FP&A software. Two thirds (66%) of finance professionals reported that AI is set to save between 50 and 200 hours of work annually, enabling them to focus on more value-added activities like strategic planning. From a cost saving point of view, these same companies are seeing financial savings of £50,000–£100,000 annually due to AI-powered FP&A software.

According to ICit’s Director, Mark Bodger, “AI’s ability to streamline complex data processes and deliver real-time insights allows finance teams to step into more strategic roles, enabling them to focus on strategic decision-making rather than manual tasks.”

AI is Elevating FP&A Teams into Strategic Leaders

As AI increasingly becomes a standard in financial operations, finance teams are evolving beyond their traditional roles of managing budgets and forecasts. With AI’s ability to analyse vast datasets and predict future trends, FP&A professionals are moving closer to the heart of business strategy, offering critical guidance to senior leadership. ICit’s report highlighted the importance of AI in helping finance teams become strategic advisors, with 59% of respondents to the study noting that AI enhances financial decision-making through more accurate forecasts and real-time scenario analysis. AI adoption is also boosting trust in finance teams, with 67% of finance professionals citing AI’s critical role in providing senior executives with reliable, data-driven insights.

Bodger continued: “AI is enabling faster, more precise forecasting and insights, allowing finance teams to make better decisions and drive business success.”

AI as a Driver of Trust and Competitiveness

The ICit study also showed that AI is becoming essential for finance teams looking to build greater trust with their C-suite executives. Over two-thirds (67%) of finance professionals believe AI will play a pivotal role in establishing confidence in their insights and decisions. As AI evolves, finance teams will be able to quickly adapt to market changes, reducing errors and providing more accurate financial forecasts.

Tim Wakeford, Vice President, Financial Product Strategy, Workday commented: “From tackling manual work to responding to economic instability, the challenges finance professionals face are diverse and growing. In the AI-era, a lack of agility will see slow movers quickly fall behind. The main barrier to achieving this, however, is trust – which is why finance leaders need to seize the opportunity and take action. Leaders must also advocate for AI, cultivate a responsible culture and showcase how it overcomes the daily challenges finance teams face. This isn’t always easy – it may call for tough choices on budgets, or receive initial push back from other leaders. However, with the right steps, a more productive, strategic and high-performing finance department is in reach.”

Mark Bodger concluded: “There is no doubt that AI is giving companies a competitive edge and our latest research indicates that organisations adopting AI in FP&A are outperforming their peers in operational efficiency, cost management, and strategic execution. As a result, these companies are better positioned to navigate financial uncertainty and seize new opportunities.”

*The findings presented in this report are based on a study of 300 UK financial decision-makers, commissioned by ICit. The survey focused on AI/ML adoption in FP&A software between 9th-14th August, 2024.

About ICit Business Intelligence:

ICit is a leading provider of managed services and FP&A software solutions, specialising in Workday Adaptive Planning. We help finance teams leverage advanced technologies like AI and ML to drive performance, improve decision-making, and enhance strategic leadership.

View original content:https://www.prnewswire.co.uk/news-releases/ai-adoption-in-fpa-saves-professionals-up-to-200-hours-and-100-000-annually-302297384.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Digital Realty Trust, L.P. Announces Proposed Exchangeable Senior Notes Offering

Published

on

By

AUSTIN, Texas, Nov. 6, 2024 /PRNewswire/ — Digital Realty Trust, Inc. (NYSE: DLR), (“Digital Realty”), the largest global provider of cloud- and carrier-neutral data center, colocation, and interconnection solutions, today announced that its subsidiary, Digital Realty Trust, L.P. (“Digital Realty L.P.”), intends to offer, subject to market and other conditions, $1,000,000,000 aggregate principal amount of exchangeable senior notes due 2029 (the “notes”) in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Digital Realty will fully and unconditionally guarantee the notes on a senior, unsecured basis. Digital Realty L.P. also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $150,000,000 principal amount of notes.

The notes will be senior, unsecured obligations of Digital Realty L.P., will accrue interest payable semi-annually in arrears and will mature on November 15, 2029, unless earlier repurchased, redeemed or exchanged. Noteholders will have the right to exchange their notes in certain circumstances and during specified periods. Digital Realty L.P. will settle exchanges in cash and, if applicable, shares of Digital Realty’s common stock.

The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at Digital Realty L.P.’s option at any time, and from time to time, on or after November 22, 2027 and on or before the 40th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of Digital Realty’s common stock exceeds 130% of the exchange price for a specified period of time and certain other conditions are satisfied. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.

If certain corporate events that constitute a “fundamental change” occur, then, subject to a limited exception, noteholders may require Digital Realty L.P. to repurchase their notes for cash. The repurchase price will be equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date.

The notes will be entitled to the benefits of a registration rights agreement pursuant to which Digital Realty will agree to register, under the Securities Act, the resale of the shares of Digital Realty’s common stock, if any, issuable upon exchange of the notes within specified time periods and subject to certain limitations.

The interest rate, initial exchange rate and other terms of the notes will be determined at the pricing of the offering.

Digital Realty L.P. intends to use the net proceeds from the offering to temporarily repay borrowings outstanding under its global revolving credit facilities, acquire additional properties or businesses, fund development opportunities, and to provide for working capital and other general corporate purposes, including potentially for the repayment of other debt or the repurchase, redemption, or retirement of outstanding debt securities, or a combination of the foregoing.

The offer and sale of the notes, the guarantee and any shares of Digital Realty’s common stock issuable upon exchange of the notes have not been registered under the Securities Act or any other securities laws, and the notes and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. Although Digital Realty L.P. and Digital Realty intend to enter into a registration rights agreement pursuant to which Digital Realty will agree to register, under the Securities Act, the resale of the shares of Digital Realty’s common stock, if any, issuable upon exchange of the notes, the registration rights agreement will contain significant limitations, and a resale registration statement may not be available at the time investors wish to resell the shares of Digital Realty’s common stock, if any, issuable upon exchange of their notes. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the notes or any shares of Digital Realty’s common stock issuable upon exchange of the notes, nor will there be any sale of the notes or any such shares, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful.

About Digital Realty

Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation and interconnection solutions. PlatformDIGITAL®, the company’s global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx®) solution methodology for powering innovation and efficiently managing Data Gravity challenges. Digital Realty gives its customers access to the connected data communities that matter to them with a global data center footprint of 300+ facilities in 50+ metros across 25+ countries on six continents.

Investor Relations

Jordan Sadler / Jim Huseby
Digital Realty
+1 415 275 5344
InvestorRelations@digitalrealty.com

Safe Harbor Statement
This press release includes forward-looking statements, including statements regarding the anticipated terms of the notes being offered, the completion, timing and size of the proposed offering and the intended use of the net proceeds. Forward-looking statements represent Digital Realty’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including market interest rates, the trading price and volatility of Digital Realty’s common stock and risks relating to Digital Realty’s business, including those described in periodic reports that Digital Realty files from time to time with the SEC. Digital Realty L.P. may not consummate the proposed offering described in this press release and, if the proposed offering is consummated, cannot provide any assurances regarding the final terms of the offering or the notes or its ability to effectively apply the net proceeds as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and neither Digital Realty nor Digital Realty L.P. undertakes to update the statements included in this press release for subsequent developments, except as may be required by law.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/digital-realty-trust-lp-announces-proposed-exchangeable-senior-notes-offering-302297472.html

SOURCE Digital Realty Trust

Continue Reading

Technology

SOPHiA GENETICS and Genomenon Collaborate to Streamline Genetic Research

Published

on

By

The companies expand partnership to enhance genetic variant interpretation for cancers and rare diseases

BOSTON and ROLLE, Switzerland , Nov. 6, 2024 /PRNewswire-PRWeb/ — SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native healthcare technology leader in data-driven medicine, today announced the next step in the partnership between the Company and Genomenon, a leading genomic intelligence company, to support better, data-driven outcomes in the rare disease and oncology fields. The two companies have expanded the integration of Genomenon’s Mastermind® Genomic Intelligence Platform into SOPHiA GENETICS’ Alamut™ Visual Plus, to empower researchers and clinical geneticists with a solution that helps accelerate variant interpretation for rare disorders.

Time is crucial in gathering actionable insights for rare diseases and cancers due to the complexity and unknown elements of their genetic underpinnings. Identifying these variants often involves navigating limited literature and sparse data, as many rare disorders lack comprehensive studies. Delays in finding relevant information can hinder accurate analysis and interpretation of genomic variants. Many rare conditions have no cure, and easy access to relevant, comprehensive and well-organized information can help accelerate insights and health decisions.

Alamut™ Visual Plus is an advanced decision-support tool for the exploration, annotation, and interpretation of genetic variants from next-generation sequencing (NGS) data. Genomenon’s Mastermind® Genomic Intelligence Platform provides comprehensive curated evidence for genomic data, as well an indexed content from more than 10 million full-text articles. The integration of the two tools significantly enhances variant curation and interpretation by connecting the Alamut™ Visual Plus comprehensive, full genome browser for variant interpretation to a vast library of scientific research, offering critical insights even for rare variants with limited existing research. This partnership will prove especially valuable in such cases where findings from only a single study globally might be available that hold the key to understanding a variant’s pathogenicity. By offering immediate access to a broad spectrum of indexed data and curated genomic insights, researchers and clinicians can more efficiently assess the pathogenicity of variants, enabling them to make informed decisions with greater confidence.

“We are excited to expand our work with Genomenon and provide our customers the opportunity to access world-class tools like Mastermind® through our technology platform.” said Ross Muken, President, SOPHiA GENETICS. “This partnership simultaneously benefits our customers, who will gain a more comprehensive understanding of detected variants in a seamless, single platform, while providing Genomenon the opportunity to broaden its reach through our unmatched global network.”

“Collaborating with SOPHiA GENETICS allows us to provide geneticists and researchers with the most comprehensive and up-to-date genomic research available as they review patient data in Alamut,” said Mike Klein, CEO of Genomenon. “The links to Mastermind® from Alamut will put curated genomic data and the most recent research on every variant at the fingertips of clinicians assure patient diagnoses are informed by the most recent scientific findings in a single, complete workflow.”

For more information on SOPHiA GENETICS, visit SOPHiAGENETICS.COM, or connect on LinkedIn.

About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a cloud-native healthcare technology company on a mission to expand access to data-driven medicine by using AI to deliver world-class care to patients with cancer and rare disorders across the globe. It is the creator of the SOPHiA DDM™ Platform, which analyzes complex genomic and multimodal data and generates real-time, actionable insights for a broad global network of hospital, laboratory, and biopharma institutions. For more information, visit SOPHiAGENETICS.COM and connect with us on LinkedIn.

About Genomenon
Genomenon is a leading genomic intelligence company transforming patient care by uncovering the genomic drivers of genetic disease and cancer. By combining the power of AI built on the world’s premier genomic data set with genomic expertise, the company simplifies complex genetic data into actionable insights. Genomenon’s integrated software, data, and services solutions empower clients with advanced patient diagnosis and precision medicine development. For more information, visit GENOMENON.COM.

SOPHiA GENETICS products are for Research Use Only and not for use in diagnostic procedures unless specified otherwise. The information in this press release is about products that may or may not be available in different countries and, if applicable, may or may not have received approval or market clearance by a governmental regulatory body for different indications for use. Please contact support@sophiagenetics.com to obtain the appropriate product information for your country of residence.

SOPHiA GENETICS Forward-Looking Statements:
This press release contains statements that constitute forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy, products, and technology, as well as plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including those described in our filings with the U.S. Securities and Exchange Commission. No assurance can be given that such future results will be achieved. Such forward-looking statements contained in this press release speak only as of the date hereof. We expressly disclaim any obligation or undertaking to update these forward-looking statements contained in this press release to reflect any change in our expectations or any change in events, conditions, or circumstances on which such statements are based, unless required to do so by applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

SOPHiA GENETICS Media Contact:
Kelly Katapodis
media@sophiagenetics.com

Genomenon Media Contact:
Colleen McMillen
cmcmillen@genomenon.com

Media Contact

Colleen McMillen, https://www.genomenon.com, 9173449360, cmcmillen@genomenon.com, https://www.genomenon.com

Twitter

View original content to download multimedia:https://www.prweb.com/releases/sophia-genetics-and-genomenon-collaborate-to-streamline-genetic-research-302297017.html

SOURCE Genomenon

Continue Reading

Technology

Yaber and Pantone Color Institute Reunite: Introducing Yaber Projector L2s in Stunning Misty White and Lunar Rock

Published

on

By

NEW YORK, Nov. 6, 2024 /PRNewswire/ — Yaber, a pioneer of entertainment projectors, continues its strong collaboration with the Pantone Color Institute, introducing Yaber Projector L2s in two distinguished Pantone colors: the newly released Misty White and the previously celebrated Lunar Rock from the K3 series. This partnership elevates the projector’s aesthetic appeal, providing a stylish and accessible option for entry-level projector enthusiasts.

Misty White, emblematic of a vaporous daytime sky, is a softly subtle white with a blue-gray tint,” explains Laurie Pressman, Vice President of the Pantone Color Institute. “Composed and cool in temperature and attitude, it signifies our desire for simple solutions and creative technologies that can enhance our lives.” Misty White brings a sense of peace and tranquility, giving Yaber Projector L2s a role beyond function, turning it into a symbol of refined living.

Reflecting Yaber’s vision of harmonious simplicity in home entertainment, Misty White aligns perfectly with modern, minimalist tastes. Meanwhile, Lunar Rock, with its timeless elegance, nods to Yaber’s successful K3 series collaboration, making it a striking choice for those who appreciate classic design.

Enjoy $110 off the L2s on Amazon U.S., now priced at $159.99 from the original $269.99. With options of the elegant Lunar Rock, the minimalist Misty White, and the standard color, Yaber Projector L2s allows users to express their personal style while enjoying top-tier performance.

About Yaber

Founded in 2018, Yaber stands as a pioneer of entertainment projectors, having successfully delivered over two million units to enthusiasts in more than 120 countries and regions worldwide. Notably, Yaber has been honored with prestigious awards, including the Red Dot Award and the CES Innovation Award 2024.

Yaber is committed to pushing the boundaries of both visual and audio excellence. Every Yaber projector is crafted to deliver exceptional experiences, embodying a pursuit of perfection and offering users outstanding audiovisual quality, as well as an enriching journey of continual self-transcendence.

For the latest updates, visit https://www.yaber.com/collections as Yaber continues redefining entertainment excellence.

Photo – https://mma.prnewswire.com/media/2549783/Yaber_Projector_L2s.jpg
Logo – https://mma.prnewswire.com/media/2348478/Yaber_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/yaber-and-pantone-color-institute-reunite-introducing-yaber-projector-l2s-in-stunning-misty-white-and-lunar-rock-302297268.html

Continue Reading

Trending