Posts Tagged ‘finance’
Hello there. I’m back in Austin, Texas, and no worse for the wear.
Las Vegas was…well, Las Vegas. Although I must say, I was most impressed with Wynn Las Vegas.
Steve Wynn has been a lightning rod of controversy during his reign as a resort mogul in Las Vegas (and, now, Macau), and having only seen him in interviews on “60 Minutes,” I can’t say as I had much of an opinion one way or the other.
But, after staying at his 60+ story hotel on the Strip these past few days, I can attest to the level of personal detail and attention he puts into his properties.
Upon arrival on Sunday, I waited a good 30 minutes just to check in. But, upon reflection, I guess that’s a good sign for Mr. Wynn and his couterie, and they were kind enough to bring me a bottle of water to myself and other customers who were patiently waiting.
But if hotels can do such a great job of enabling a streamlined checkout (video, phone check out, express checkout, etc.), there’s clearly still room for much improvement on better “processing” customers when they arrive. Smarter check-in, anybody?
But all in all, very impressed with the Wynn brand experience.
As for the Word of Mouth Marketing Association Summit, I’m still processing all the great info I took in, and may dedicate a more thoughtful post on my experience about that later.
But, since I was pre-occupied for a few days, we’ve had some important IBM news that fell below my blogging radar.
The most notable announcement emerged earlier today, one for IBM Business Partners and their clients.
IBM announced today it is providing IBM Business Partners with $4 billion in financing for credit-qualified clients over a period of 12 months.
This financing, through IBM Global Financing, can make obtaining credit easier and more accessible to IBM’s global partner ecosystem and their clients to acquire advanced technologies such as cloud, analytics and PureSystems.
Also, IBM is launching a new mobile app as another step to simplify the way IBM’s Business Partners can apply for and secure financing for their clients within minutes via any mobile device.
This financing initiative builds on the $1 billion in financing IBM Global Financing made available through IBM Business Partners for small and midsized businesses in 2011, which resulted in 6,800 global companies using financing and enabling them to invest in some of these important emerging technologies.
To learn more, you can visit IBM Global Financing here.
IBM today announced a definitive agreement to acquire Algorithmics for $387 million, subject to price adjustments at closing.
Algorithmics is a risk analytics firm with operations in Toronto, Canada. Algorithmics risk analytics software, content and advisory services are used by banking, investment and insurance businesses to help assess risk, address regulatory requirements and make more insightful business decisions.
This acquisition expands IBM’s business analytics capabilities in the financial services industry by helping clients quantify, manage and optimize their risk exposure across a range of financial risk domains, including market, liquidity, credit, operational and insurance as well as economic and regulatory capital.
According to a recent IBM Institute of Business Value survey of 1,900 global CFOs, nearly half indicated that their finance organizations are not effective in the areas of strategy, information integration, risk and opportunity management.
The roles of financial officers across all industries are evolving — drawing them into more frequent boardroom conversations about forecasts, profitability and exposure to risks. The survey reveals the importance of integrating information has more than doubled, mirroring the exponential rise in information volume and velocity within businesses today. Financial officers are becoming more involved in mitigating corporate risk in all its many forms – whether strategic, operational, legal or environmental.
Across the financial industry, integrated risk management continues to be a challenge — made even more pressing by regulations triggered in response to the global financial crisis. Financial practitioners are tasked with making split-second decisions by analyzing activity happening both within their corporations and from other market forces.
With the combination of IBM and Algorithmics analytics, companies can measure and assess operational risk associated with lending processes, market and credit risk exposures. Having this type of transparency and granular insight of financial risk in advance can help organizations meet new regulatory requirements.
More than 350 clients, including 25 of the top 30 banks and more than two-thirds of the CRO Forum of leading insurers, use Algorithmics analytics software and advisory services. Clients include The Allianz Group, BlueCrest, HSBC, Nedbank, Nomura, Societe Generale, and Scotia Capital.
“Today’s economic environment demands that financial institutions have more cash on hand, a better understanding of their financial standing and the ability to deliver more transparency to stakeholders,” said Rob Ashe, IBM General Manager, Business Analytics. “Combining Algorithmics expertise with IBM’s deep analytics portfolio will allow clients to take a more holistic approach to managing risk and responding to economic change across their enterprises.” IBM’s agreement with Algorithmics reinforces that companies are looking to reduce independent silos to gain an enterprise-wide view of risks for strategic planning, operations and new growth opportunities.
Algorithmics risk analytics software and services combined with IBM’s acquisition of OpenPages and recent investments in predictive analytics will provide clients with the broadest range of business analytics solutions.
Algorithmics risk advisers will enhance IBM’s Business Analytics and Optimization practice. The Business Analytics and Optimization team has more than 8,000 consultants including 200 mathematicians with more than 500 patents and a network of analytics solution centers, backed by an overall investment of more than $14 billion in acquisitions in the last five years. Algorithmic’s focus on credit, market and liquidity risk, as well as key customers in operational risk, will strengthen and expand IBM’s risk consulting services.
The acquisition is subject to applicable regulatory clearances and other customary closing conditions. With the closing of this acquisition, approximately 900 Algorithmics employees will join IBM’s Software Group.