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Connecticut-based Atlantic Data Security Replaces Salesforce and Reduces Costs While Increasing Functionality

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Becomes first Workbooks US Customer Implementation

EAST HARTFORD, Conn., Oct. 04, 2018 — Industry-leading IT security firm, Atlantic Data Security, jettisoned Salesforce to become the first US company to fully implement Workbooks since the British cloud-based CRM and Marketing Automation vendor opened its first US office in May this year. This implementation will enable Atlantic to support its future growth plans by reducing costs, increasing functionality and giving it a single view of its customers on a unified platform, behind common practices and processes.

“We didn’t think we were getting good value from our Salesforce solution so we started looking at other vendors,” said Rick Romkey, principle of Atlantic Data Security. “With Workbooks, not only are we achieving savings on our license fees but Workbooks provides more and better functionality. The sales forecasting is way better than what we had with Salesforce. Workbooks also worked closely with us during implementation so we didn’t have to deal with third party consultants. This was the right decision for us. Already the relationship between Workbooks and Atlantic is rapidly delivering clarity from complexity.”

Workbooks delivers cloud-based CRM and Marketing Automation applications to the mid-market, at an affordable price, extending beyond sales, marketing and customer support to include order management and fulfilment, invoicing and supplier management, at a price typically 50-70% less than offerings from Salesforce or Microsoft Dynamics.

Building for the future Atlantic was looking for a CRM platform to support the future growth of the business. The Atlantic team was particularly drawn to Workbooks’ order processing, invoicing and contract management functionality, which would join up its entire lead-to-cash process in one fully integrated solution.

The project began with the replacement of a ten-user Salesforce CRM implementation for sales automation. During the discovery phase, Atlantic Data Security acquired an IT security firm called Netanium, which already had 12 people using Salesforce and Pardot B2B Marketing Automation software. Atlantic’s users were mostly using Salesforce for quoting, so the differing approaches had to be integrated seamlessly during implementation.

The requirement was expanded to include email marketing tool GatorMail, Web analytics tool Web Insights, and Event Management to replace the existing Netanium functionality, as well as Workbooks’ Mapping Module.

“The implementation is a significant step for Atlantic and one that was turned around in just five weeks, even during a time in which Atlantic acquired another company with its own CRM system,” said Dan Collins, CEO of Workbooks Online Inc. “This was a complex project that had to be implemented quickly. Our focus was on reducing costs, merging the Atlantic and Netanium solutions and aligning the sales and marketing teams onto one platform to provide end-to-end visibility behind a common set of practices and processes, all the while ensuring the continuity of the business. We’re delighted to have completed our first US implementation so soon after our expansion into the country. These are very exciting times for Workbooks and we’re looking forward to supporting many more US businesses in the future.”

Five-week implementation Due to the imminent expiration of Atlantic’s Salesforce licenses, the project had to be implemented in just five weeks.

The team ran a 20-day project focused on Atlantic’s sales and marketing business needs, covering contact management, lead and campaign management, quote and sales management and pipeline reporting. The project also included setup and configuration of Workbooks’ Gatormail marketing functionality. They also migrated data from the two separate Salesforce solutions – including deduplication.

Workbooks consultants began by migrating the quote generation functionality. Atlantic was generating quotes using Salesforce and in order to ensure business continuity, this became the top priority. This included moving from multiple PDF templates in Salesforce to just one in Workbooks, with the logic embedded into the PDF so the user does not have to remember what type of template to use.

More functionality, better value Workbooks delivers significantly more functionality than the Salesforce solution at a cost that is 50% lower. Thanks to the increased functionality, Atlantic will recoup implementation costs in less than two years and continue significant saving on license costs beyond that.

Atlantic was the first US company to implement a Workbooks solution since Workbooks announced its expansion into the US in June 2018, following a year of strong growth and an injection of $1 million of fresh investment to fuel international growth.

About Atlantic Data Security Since 1993, Atlantic has been representing industry leading security products to help get customers to an acceptable level of IT security risk. Atlantic works extensively with both large enterprises and SMB markets, understanding their business goals before any solution is recommended. Atlantic’s strict focus ensures that customers receive the highest level of both service and support.

About Workbooks Workbooks delivers cloud-based CRM and Marketing Automation applications to the mid-market, at an affordable price. Workbooks extends beyond sales, marketing and customer support to include order management and fulfilment, invoicing and supplier management, at a price which is typically 50-70% less than solutions such as Salesforce or Microsoft Dynamics. Workbooks joins up the entire organization around data and processes, promoting teamwork and collaboration. It provides a single 360 view of customers and the information is accessible anytime, anywhere. Productivity is increased, operations are streamlined, insightful decisions are made and the business is better equipped to differentiate against the competition.

For more information, visit www.workbooks.com.

Editorial Contact: Joseph Eckert for Workbooks [email protected]

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Morningside Venture Capital Becomes 5Y Capital

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SHANGHAI, Oct. 28, 2020 /PRNewswire/ — The leading investment firm Morningside Venture Capital is pleased to announce that it has changed its name to 5Y Capital. 

Morningside Venture Capital ("MSVC") was started in 2008 during the financial crisis by Richard Liu, Ken Shi and Gerald Chan under the auspices of Morningside Group. Prior to its founding, Richard and Ken worked as investment professionals at Morningside Group, a private investment group founded by the Chan family of Hong Kong. When they spun off the MSVC operation from the family office and set up the Morningside TMT funds, Morningside Group became the anchor investor. As a gesture of support, Morningside Group authorized them to use the "Morningside" brand in its operations. Over the past 12 years, MSVC has grown into an organization with over 35 members of staff. In October 2020, the MSVC operation was renamed as 5Y Capital reflecting the firm’s growth and the vast array of opportunities it can provide. Morningside Group remains one of 5Y Capital’s most important investors. "The Chan family has led us all the way into the industry. Dr. Gerald Chan, co-founder of Morningside Group, taught us great values such as integrity, independent thinking, etc., which had a profound impact on us," remarked Richard and Ken.

The new name "5Y" is a combination of the number 5 in the Chinese name of "Wuyuan Road" (wu means 5 in Chinese) and the first letter of yuan. Wuyuan Road is a beautiful one-way street in Shanghai. This is where the team has been headquartered from the very beginning. The new name reflects the firm’s commitment that wherever it is heading, it has and will always stay true to itself, its friends, and its business partners. 

It is not just a name change but more an evolution of its investment strategies. "5Y Capital was co-founded by our team. I hope that with our constantly evolving team and investment methodology, we will be able to partner with more and more great entrepreneurs, help them tap into their unique advantages and achieve greatness," said Richard.

Along with the name change, 5Y Capital has updated its corporate identity including changes to its website found at www.5ycap.com/en/. Effective immediately, all business activities will be undertaken using the new name.

About 5Y Capital

5Y Capital (formerly known as Morningside Venture Capital), founded in 2008, is a leading investment firm that currently manages approximately USD 3bn in dual-currency funds in USD and RMB. 5Y has provided multi-stage investments to a wide range of successful business founders, including Joyy (NASDAQ: YY), Xiaomi Corporation (HK: 01810), Kuaishou, Kingsoft Office (SH: 688111), Agora (NASDAQ: API), Xpeng Motors (NYSE: XPEV) and Pony.ai.

Related Links :

http://www.5ycap.com/en/

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Gracell Biotechnologies Raises $100 Million in Series C Funding to Advance Next Generation CAR-T Cell Therapies

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SHANGHAI and SUZHOU, China, Oct. 28, 2020 /PRNewswire/ — Gracell Biotechnologies Inc. ("Gracell"), a global clinical-stage biopharmaceutical company dedicated to developing highly efficacious and affordable cell therapies for the treatment of cancer, today announced it has secured $100 million in Series C funding. The round is led by Wellington Management Company, OrbiMed and Morningside Ventures, and joined by new investor Vivo Capital. Existing investors Temasek Holdings, Lilly Asia Ventures, OrbiMed and King Star Med LP are also participating.

"We are very pleased to expand our investor base with support from a high caliber consortium," said Dr. William Wei Cao, founder, Chairman, and CEO of Gracell, "Our passion is to bring transformative CAR-T cell therapies to a broader group of patients by developing products that are efficacious and can be made widely available."

Gracell was founded in 2017 with the mission to overcome the major industry challenges that persist for both autologous and allogeneic CAR-T cell therapy approaches. Gracell has developed two pioneering platforms—FasTCAR and TruUCAR. With FasTCAR, Gracell is able to deliver younger, less exhausted T cells for autologous cell therapies with greater potency and next-day manufacturing (22 to 36 hours). With TruUCAR, Gracell is able to derive T cells from non-HLA-matched healthy donors to generate allogeneic CAR-T cell therapies that are readily available off-the-shelf at lower cost for a broad patient base.

Leveraging its FasTCAR and TruUCAR platforms, Gracell is developing a pipeline of autologous and allogeneic cell therapy candidates with the potential to treat both hematologic malignancies and solid tumors. Currently, Gracell’s lead FasTCAR autologous product candidate, GC012F, is being studied in an ongoing investigator-initiated Phase 1 trial in China for the treatment of relapsed or refractory multiple myeloma (r/r MM). Its lead TruUCAR allogeneic product candidate, GC027, is being studied in an ongoing investigator-initiated Phase 1 trial in China for the treatment of relapsed or refractory T cell acute lymphoblastic leukemia (r/r T-ALL).

Proceeds from the round will be used to fund internal research and development and further advance current clinical programs. Jefferies and Cooley advised in the transaction.

About Gracell

Gracell Biotechnologies Inc. ("Gracell") is a global clinical-stage biopharmaceutical company dedicated to discovering and developing breakthrough cell therapies. Leveraging its pioneering FasTCAR and TruUCAR technology platforms, Gracell is developing a rich clinical-stage pipeline of multiple autologous and allogeneic product candidates with the potential to overcome major industry challenges that persist with conventional CAR-T therapies, including lengthy manufacturing time, suboptimal production quality, high therapy cost and lack of effective CAR-T therapies for solid tumors.

CONTACT:

Kevin Xie
CFO
[email protected]

Claire McCardell
Investor Relations
[email protected]

Linc He 
Business Development and Public Relations
[email protected]
+86-21-6403-1375

Related Links :

http://www.gracellbio.com

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AM Best Affirms Issue Credit Rating of Northwind Holdings, LLC

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AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of a on the $800 million Floating Rate Insured Notes due 2037 (notes) issued by Northwind Holdings, LLC (Northwind Holdings), a Delaware limited liability company and wholly owned subsidiary of Unum Group (Unum). The outlook of the Long-Term IR is stable.

Northwind Holdings was formed for the limited purpose of holding the stock of Northwind Reinsurance Company (Northwind Re), issuing the notes and engaging in activities incidental to its duties. Northwind Holdings is the sole shareholder of Northwind Re, a special purpose financial captive insurance company domiciled in Vermont. Northwind Re was established to provide reinsurance coverage to three of Unums subsidiaries, Provident Life and Accident Insurance Company, The Paul Revere Life Insurance Company and Unum Life Insurance Company of America, as well as to facilitate the funding of a portion of the capital required to support a closed block of individual disability income policies.

The Long-Term IR affirmation takes into consideration the amount held in the debt service coverage account for the remaining interest and principal payments; the adequacy of cash flows from Northwind Re available to be transferred as dividends to Northwind Holdings to service the notes; and Unums operating subsidiaries current Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of a.

AM Best did not consider the payment assurance or support provided by MBIA Insurance Corporation, the financial guarantor, which ensures the timely payment of scheduled interest and the repayment of principal at maturity to the noteholders.

Northwind Holdings Long-Term IR and outlook may come under negative pressure if any of the following events occur: cash flows to service the note obligations become insufficient; the Credit Rating of Unum Group deteriorates; or the coverage ratio of the reserves and surplus to policy benefits deteriorates. However, the Long-Term IR and its outlook could benefit if a favorable trend occurs in the aforementioned categories.

This press release relates to Credit Ratings that have been published on AM Bests website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Bests Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings. For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Yuhmei Chen

Senior Financial Analyst,

Insurance-Linked Securities

+1 908 439 2200, ext. 5236

[email protected]

Christopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

[email protected]

Wai Tang

Senior Director,

Insurance-Linked Securities

+1 908 439 2200, ext. 5633

[email protected]

Jim Peavy

Director, Communications

+1 908 439 2200, ext. 5644

[email protected]

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
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