Tag: #Customer

Categories
Business

NICE announces Interactions Live, the industry’s biggest customer experience virtual event and its lineup of award-winning celebrity appearances and customer delivered insights

Celebrity lineup includes Matthew McConaughey and Martha Stewart and offers the industry’s largest virtual concert featuring musical performances by Bryan Adams and Alanis Morrissette

HOBOKEN, N.J.–(BUSINESS WIRE)–NICE (Nasdaq: NICE) today announced Interactions Live, the biggest customer experience virtual event of the year. To be held on September 15-16, this free event will provide unprecedented insights for adopting an agile service approach and creating extraordinary customer and employee experiences in any market dynamic. Featuring content to suit every role and interest, this global event offers a wealth of informative sessions, interactive demo stations, live video chats with NICE experts, exciting keynote speakers and entertaining performing artists. To learn more or register for the event, please click here.

Interactions Live will host Academy Award-Winning Actor, philanthropist and author of the upcoming book Greenlights, Matthew McConaughey as a keynote speaker, sharing his drive for constant reinvention throughout his impressive career spanning over 40 feature films that have grossed over $1 billion. Also keynoting will be Martha Stewart – Emmy Award-Winning television show host, bestselling author of 96 lifestyle books to date, entrepreneur and founder of the first multi-channel lifestyle company. The virtual event’s analyst lineup includes McGee Smith, Forrester, DMG Consulting, Aberdeen, Everest Group and Saddletree Research who will review current industry trends and offer guidance on maintaining CX excellence in times of change. Also joining the event are industry-leading organizations who will discuss how they are innovating to provide agile service in the cloud, engage their workforce as they work remotely and leverage data insights to create exceptional experiences for customers and employees.

This year’s event will include a virtual concert attendees can stream from any location, September 16 starting at 3:45 pm EST. It will feature Award-Winning musician, Bryan Adams who will take the stage to share his hits spanning four decades. One of the most exciting live musicians in the world, Bryan Adams’ energetic performance, effortless stage presence and incredible vocals are guaranteed to thrill and entertain. Also joining is Award-Winning artist, Alanis Morissette, whose album, Jagged Little Pill remains the best-selling debut release by a female artist in the U.S. and the highest-selling debut album worldwide in music history.

With over seven tracks and more than 50 best practice sessions, the conference agenda is rich with ideas, insights and advice that will inspire, energize, and invigorate CX professionals of all ranks. Attendees can join informative best practices sessions, engage with various experts, see live demos of the latest innovations and be inspired by industry-leading customer speakers, visionary leaders and subject-matter-experts from prominent organizations.

Barak Eilam, CEO, NICE, said, “CX agility has never been more critical and we remain focused on helping organizations transform experiences to be extraordinary. In the face of the unprecedented current challenges organizations are facing, we aim to bring clarity by sharing powerful insights that will enable organizations to be agile in engaging customers and employees while driving successful business outcomes. Interactions has always been a key channel through which we connect among customers, content experts, innovators and opinion-makers, and we’re pleased to present a new avenue to enable this connection via Interactions Live. ”

About NICE

NICE (Nasdaq: NICE) is the world’s leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions. www.nice.com.

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Eilam, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions, including as a result of the COVID-19 pandemic; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company’s products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners;, cyber security attacks or other security breaches against the Company; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company’s reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

Contacts

Corporate Media
Christopher Irwin-Dudek, 201-561-4442, chris.irwin-dudek@nice.com

Investors
Marty Cohen, +1 551 256 5354, ir@nice.com, ET

Yisca Erez +972 9 775 3798, ir@nice.com, CET

Categories
Local News

Zycus’ AI-powered Bots transforming accounts payable operations across industries

Diverse enterprises achieving up to 98% accuracy in invoice data extraction, drastically reducing invoice processing cycle-times, and freeing up FTEs to focus on strategic activities

PRINCETON, N.J.–(BUSINESS WIRE)–#ai–Zycus, a global leader in AI-driven Source-to-Pay software solutions, announced today that its AI-powered, self-learning Merlin Bots have achieved the promised accounts payable efficiency at diverse customer companies, including an automotive giant, a health insurer, a manufacturing company, and a non-profit educational firm. Though belonging to different industry verticals, all these organizations had the same challenge with their accounts payable operations – repetitive and iterative manual processes that reduced efficiency and increased costs.

The health insurer foresaw rapid business growth and wanted to build capacity for a higher volume of supplier invoices. They wanted to truly automate invoice data extraction to reduce human dependency, costs, and full-time-equivalents engaged in the low-value and mechanical tasks of invoice processing. After Zycus’ implementation, the health insurer experienced an accuracy of 98% for line-level invoice data extraction, a 75% reduction in invoice processing cycle-time, and a 50% reduction in the number of manual clicks required to extract and process each invoice.

The automotive giant with $20Bn in revenue participated in a time motion study with Zycus to assess its processes and found invoice processing as low-hanging fruit to reduce costs. That’s when they decided to implement Zycus’ Merlin AP SmartDesk Bots and Invoice Reader Bots. The team has achieved an average of 90% accuracy in the extraction of various invoice fields (such as invoice number, purchase order number, invoice date, supplier name, item description, item quantity, item unit price, and item-total). In the new AP order, the company also has increased visibility into its spending. The use cases were similar at the two other companies – a manufacturing organization and a non-profit educational firm.

Richard Waugh, Vice President- Corporate development shares, “The reason why Merlin AI bots work across the board is they are truly versatile and agnostic to industry, technology, language or invoice templates. We built them in-house, on the back of our 20 years of experience in artificial intelligence. We are able to drive greater than 90% accuracy in all scenarios, and I think it is unmatched in the industry.”

Zycus’ self-learning, AI bots make use of Natural Language Processing (NLP) and Intelligent Invoice Capture. They can plug into any technological, ERP, or accounts payable environment seamlessly.

Bikash Mohanty, Director Product Management concludes, “AP staff should be able to focus on areas of strategic value – managing suppliers, cash, and risk – instead of spending much of their time keying or re-keying invoice data because of a lack of tools or outdated OCR technology that suffers from low accuracy in extracting invoice data. There is a better way – AI can help AP shift from tactical to strategic.”

About Zycus Inc.

Zycus is a leading global provider of AI powered Source-to-Pay suite for procurement, finance, and AP organizations. Our comprehensive product portfolio includes eProcurement, eInvoicing, Spend Analysis, eSourcing, Contract Management, Supplier Management, Financial Savings Management, Project Management, Request Management, Supplier Network, Insight Studio, and Merlin A.I. Suite with intelligent BOTs. Our spirit of innovation and passion to help organizations create greater business impact is reflected among the hundreds of solution deployments that we have undertaken over the years.

Contacts

Ankit Aggarwal – Product Marketing Lead – Zycus Inc

+91 98333 11510

Categories
Business

Texas Farm Bureau Insurance expands lines of business on Majesco Policy for P&C

Farm Liability Now in Production

MORRISTOWN, N.J.–(BUSINESS WIRE)–Majesco (NASDAQ: MJCO), a global leader of cloud insurance software platforms, today announced Texas Farm Bureau Insurance expanded the lines of business on Majesco Policy for P&C with Farm Liability, converting from their legacy home-grown system. This follows their upgrade to Majesco CloudInsurer® announced in December 2019 and demonstrates their agility and speed to market for new lines of business.

“We’re continuing to modernize our operations by leveraging the Majesco Policy for P&C for a broader portfolio of our business to provide our customers with next generation capabilities that will enhance our service and strengthen our customer satisfaction ratings,” says Craig Daughtery, Vice President of Underwriting at Texas Farm Bureau Insurance. “Majesco continues to deliver on its promise of providing innovative solutions delivered with speed and quality.”

Texas Farm Bureau Insurance has been protecting customers since 1952 with a mission to help customers manage financial risks of everyday life and successfully recover from any insured loss through prompt, professional and personal service. For nine consecutive years, it has been proudly ranked “Highest Customer Satisfaction among Auto Insurers in Texas” by J.D. Power. Texas Farm Bureau Insurance has been a customer of Majesco since 2015.

The expanding partnership will help Texas Farm Bureau Insurance to continue to deliver speed and scalability to their leading commercial lines of operation, ensuring top-level customer service.

“We’re proud to have Texas Farm Bureau Insurance as a partner and support them in their digital transformation,” says Prateek Kumar, EVP of Majesco. “As an organization who prides themselves on customer satisfaction, we’re happy to have helped them continue to press boundaries and improve their overall customer experience.”

About Majesco

Majesco (NASDAQ: MJCO) provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal. Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); Digital1st® Insurance with Digital1st® eConnect, Digital1st® EcoExchange and Digital1st® Platform – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.

Cautionary Language Concerning Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in Majesco’s reports that it files from time to time with the Securities and Exchange Commission and which you should review, including those statements under “Item 1A – Risk Factors” in Majesco’s Annual Report on Form 10-K, as amended by its Quarterly Reports on Form 10-Q.

Important factors that could cause actual results to differ materially from those described in forward-looking statements contained in this press release include, but are not limited to: the adverse impact on economies around the world and our customers of the current COVID-19 pandemic; our ability to achieve increased market penetration for our product and service offerings and obtain new customers; our ability to raise future capital as needed; the growth prospects of the property & casualty and life & annuity insurance industry; the strength and potential of our technology platform and our ability to innovate and anticipate future customer needs; our ability to compete successfully against other providers and products; data privacy and cyber security risks; technological disruptions; our ability to successfully integrate our acquisitions and identify new acquisitions; the risk of loss of customers or strategic relationships; the success of our research and development investments; changes in economic conditions, political conditions and trade protection measures; regulatory and tax law changes; immigration risks; our ability to obtain, use or successfully integrate third-party licensed technology; key personnel risks; and litigation risks.

These forward-looking statements should not be relied upon as predictions of future events and Majesco cannot assure you that the events or circumstances discussed or reflected in these statements will be achieved or will occur. If such forward-looking statements prove to be inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by Majesco or any other person that we will achieve our objectives and plans in any specified timeframe, or at all. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Majesco disclaims any obligation to publicly update or release any revisions to these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law.

Contacts

Laura Tillotson

Director, Marketing Communications and Creative Services

+ 201 230 0752

laura.tillotson@majesco.com

Categories
Business

Majesco announces new and innovative updates for Majesco’s billing for P&C

These updates reflect the monthly updates for the last seven months that include next-generation capabilities needed to meet the demands of today’s digital customer

MORRISTOWN, N.J.–(BUSINESS WIRE)–Majesco (NASDAQ: MJCO), a global leader of cloud insurance software, today announced the new and innovative updates for Majesco’s Billing for P&C, representing the monthly updates for the last seven months. Rather than providing periodic releases, Majesco provides monthly, automated releases to keep customers at the leading edge and enable them to rapidly respond to market changes.

Billing has become a key component of carriers’ customer engagement and digital strategies – recognizing the growing demand for new payment methods, billing plans, access to real-time billing information, electronic billing payments, and on-the-spot adjustments due to unprecedented market shifts such as the COVID-19 pandemic. Cloud-based solutions like Majesco Billing for P&C are helping insurers not only modernize and optimize their business, but also to create a new business for the future. Four of the top 10 P&C insurers in the US are using the market leading Majesco Billing for P&C.

“Billing can seem like a routine back end process, but it is one that touches every customer and done wrong, can have a tremendously negative impact on the customer relationship. It is a powerful signal of the kind of customer service that will be delivered by an insurer across all touchpoints,” commented Karlyn Carnahan, Head of Celent’s North American Property Casualty business. “Utilizing a seamless and flexible solution allows insurers to deliver on an important “moment of truth” while freeing up resources to continue to transform the customer experience in other areas.”

Some of the new and innovative enhancements for Majesco Billing for P&C to support digital customer engagement and operational optimization include:

Advanced Capabilities for Moratoriums – Enable carriers to serve their customers and ease financial hardships through automated processes that can otherwise be a very manual labor-intensive process, especially true in the context of ongoing COVID-19 pandemic. The enhanced support includes leniency towards fees, late charges and collections etc. Additionally, on return to normalcy, the automated processes can automatically spread unpaid balances over multiple installments even going beyond policy expiry date based on customer preferences.

Expanded Payment Gateways – Leverage pre-built integrations for frictionless and secure ACH and Credit Card processing with payment gateways including Chase Paymentech, One Inc and CyberSource.

Automated Agency Payment Upload – Support for electronic upload of agency payments followed by automated payment allocation and reconciliation process. This enables the carriers to focus on collections and work on discrepancies instead of spending days and weeks on reconciliation through manual data entry.

Enhanced Data Extraction Utility – Mask and export production data to other non-production environments for analysis purposes while ensuring sensitive customer data is masked following data privacy and security compliance requirements.

Cohesive Event-Based Communication – Via messaging queues, enable asynchronous event-based communication between systems providing consistency, flexibility, reliability and scalability of processes.

Robust Open API Catalog and Gateway – Expanded API catalog with over 200 additional OAS3.0 Compliant APIs available to rapidly and dynamically integrate with other systems and Majesco Digital1st® EcoExchange innovative partner solutions over an enterprise gateway servicing all APIs with enterprise monitoring and servicing feature for Majesco CloudInsurer® customers.

Extensive Performance & Scalability Gains – Majesco Billing for P&C is now certified for 100 million policies with 1000 concurrent users, providing extensive scale for large insurers.

“A new generation of insurance buyers with different needs and expectations, coupled with unprecedented market shifts, have created both a challenge and opportunity for next generation billing platforms,” said Manish Shah, President and Chief Product Officer at Majesco. “Today’s announcement continues the incredible momentum that we’ve built in enabling insurers, reinsurers, InsurTechs and MGAs to modernize and optimize the billing experience for their end users, while at the same time innovate with new billing options and capabilities, putting them at the forefront of digital business transformation.”

The latest enhancements underscore Majesco’s relentless innovation and commitment to helping their customers transform to a digital customer centric strategy that propels them into the future of insurance.

About Majesco

Majesco (NASDAQ: MJCO) provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal. Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); Digital1st® Insurance with Digital1st® Engagement, Digital1st® EcoExchange and Digital1st® Platform – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.

Cautionary Language Concerning Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in Majesco’s reports that it files from time to time with the Securities and Exchange Commission and which you should review, including those statements under “Item 1A – Risk Factors” in Majesco’s Annual Report on Form 10-K, as amended by its Quarterly Reports on Form 10-Q.

Important factors that could cause actual results to differ materially from those described in forward-looking statements contained in this press release include, but are not limited to: the adverse impact on economies around the world and our customers of the current COVID-19 pandemic; our ability to achieve increased market penetration for our product and service offerings and obtain new customers; our ability to raise future capital as needed; the growth prospects of the property & casualty and life & annuity insurance industry; the strength and potential of our technology platform and our ability to innovate and anticipate future customer needs; our ability to compete successfully against other providers and products; data privacy and cyber security risks; technological disruptions; our ability to successfully integrate our acquisitions and identify new acquisitions; the risk of loss of customers or strategic relationships; the success of our research and development investments; changes in economic conditions, political conditions and trade protection measures; regulatory and tax law changes; immigration risks; our ability to obtain, use or successfully integrate third-party licensed technology; key personnel risks; and litigation risks.

These forward-looking statements should not be relied upon as predictions of future events and Majesco cannot assure you that the events or circumstances discussed or reflected in these statements will be achieved or will occur. If such forward-looking statements prove to be inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by Majesco or any other person that we will achieve our objectives and plans in any specified timeframe, or at all. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Majesco disclaims any obligation to publicly update or release any revisions to these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law.

Contacts

Laura Tillotson

Director, Marketing Communications and Creative Services

+ 201 230 0752

laura.tillotson@majesco.com