Applix Drives Success of AutoOne Insurance's Financial Reporting.WESTBOROUGH, Mass. -- Applix, Inc. (NasdaqGS: APLX), the leading business analytics software solutions provider, today announced that its business analytics platform is empowering AutoOne Insurance, a division of the OneBeacon Insurance Group OneBeacon Insurance Group offers a range of specialty and segmented commercial and personal insurance products sold primarily through select independent agents. As one of the oldest property and casualty insurers in the United States, OneBeacon traces its roots to 1831 and , to respond to budgeting changes immediately and report financial results in real-time. Members of AutoOne's finance team will discuss how the company has saved 80-85 percent in man hours on budgeting, among other quantitative results, at Applix's High Performance Panel: Agility at the Speed of Business, being held October 30, 2007. "The greatest benefit has been the flexibility Applix's technology has brought to the company," said Tom Manion, vice president of finance and CFO See Chief Financial Officer. of AutoOne. "We are now able to respond to changes immediately and report results in real-time. The ability to 'slice and dice' actual financial results and compare them to planned results has proven invaluable." AutoOne has grown rapidly since it was formed in 2001 and currently provides auto insurance to both voluntary and assigned risk A danger or hazard of loss or injury that an insurer will not normally accept for coverage under a policy issued by the insurer, but that the insurance company is required by state law to offer protection against by participating in a pool of insurers who are also compelled to provide drivers. To ensure growth and profitability it is critical the company has the capability to quickly integrate new products and regions without spending weeks on planning and testing. "We required a simple solution for complex analyses that would allow for real-time calculations from data across 43 cost centers, 22 states, 12 products and 5 corporate locations," said Lisa Tancredi, assistant vice president of financial reporting of AutoOne. "Additionally, we also needed to reduce the time it takes for month-end closing while increasing the level of detail reported. Only Applix's solution could meet our varied demands, outperforming all other solutions." "Organizations select Applix's technology over other business analytics platforms because the solution delivers real-time feedback to the complex business processes and analytics that drive agile decisions," said Ben Plummer, senior vice president of worldwide marketing and strategic alliances for Applix. "Many companies such as AutoOne, require a flexible solution that has the capability to handle large, complex models. Without a single cohesive solution, it becomes more difficult to manage various data sets and agility is compromised." Applix's High Performance Panel: Agility at the Speed of Business -- October 30, 2007 Please join moderator Roy Harris Roy Ellsworth Harris (February 12, 1898 in Chandler, Oklahoma, United States - October 1, 1979), was an American classical composer. He wrote much music on American subjects, becoming best known for his Symphony No. 3. , senior editor, CFO Magazine, and guest panelists: Mark Smith, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and executive vice president of research, Ventana Research; Ben Plummer, senior vice president of worldwide marketing and strategic alliances, Applix; Tom Manion, vice president of finance and CFO, AutoOne; and Lisa Tancredi, assistant vice president of financial reporting, AutoOne, to learn more about the benefits of deploying a unified set of performance management applications that include planning, budgeting, consolidation and financial reporting. This complimentary event will be broadcast live, in high-definition, to various Morton's Steakhouse locations throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. at 4:30 pm PT/7:30 pm ET. To register and select the location nearest you please visit: http://www.insite24.com/applix/RSVP071030.aspx. About AutoOne Insurance Group AutoOne Insurance is a division of the OneBeacon Insurance Group, which is rated A (Excellent) by A.M. Best. AutoOne Insurance is based in Melville, New York Melville is a hamlet and census-designated place in the town of Huntington in Suffolk County on Long Island, New York, in the United States. As of the 2000 census, 14,533 people resided there. and is an approved LAD servicing carrier in the states of Arizona, California, Colorado, Connecticut, Delaware, Idaho, Maine, Montana, New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). , New Jersey, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Nevada, Oregon, Pennsylvania, South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , Texas, Utah, Vermont, Washington, W. Virginia, Washington D.C. and Wyoming. AutoOne also offers voluntary automobile products such as Private Passenger, Physical Damage and Take-out programs to qualified New York drivers. OneBeacon Insurance Group is wholly owned by White Mountains Insurance Group White Mountains Insurance Group is a holding company with business interests in property and casualty insurance, and reinsurance. The group owns the direct marketing insurer Esurance. External links
World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and the Bermuda Stock Exchange The Bermuda Stock Exchange (BSX), established in 1971, is now the world’s leading fully electronic offshore securities market, with a current market capitalization (excluding mutual funds) in excess of US$300 billion. under the symbol "WTM WTM World Travel Market (London) WTM World Tamil Movement WTM What's the Matter? WTM Windows Task Manager WTM Web, Trattamenti e Materiali (Italian) WTM Winner Takes Most WTM Wind Tunnel Model ." About Applix Applix (NasdaqGS: APLX) empowers agile enterprises by offering the only complete Business Analytics software solution. The Company is focused exclusively on providing a single, cohesive Performance Management and Business Intelligence solution, with strategic planning, forecasting, consolidations, reporting and analytics across financial, operational, sales and marketing, and human resources departments. The Applix platform, powered by the renowned TM1 analytics engine, reaches farther, deploys easier, and reacts faster than any business analytics solution available today. Applix and its global network of partners help more than 3,000 customers worldwide manage their business performance and respond proactively to the marketplace. Headquartered in Westborough, MA, Applix maintains offices in North America, Europe and Asia Pacific. For more information, please visit www.applix.com. Any statements in this press release about future expectations, plans and prospects for Applix, Inc., including any statements containing the words "believes," "anticipates," "plans," "expects," and similar expressions, constitute forward-looking statements. Forward-looking statements necessarily involve risks and uncertainties, and actual results could differ materially from those indicated by such forward-looking statements as a result of various important factors. Factors that could cause or contribute to such differences include without limitation, competitive pressures, changes in customer demands, adverse economic conditions, loss of key personnel, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , potential fluctuations in quarterly results, lengthy sales cycles, market acceptance of new or enhanced products and services, factors affecting spending by customers and other risks, uncertainties and factors including those described in the Company's most recent Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. or 10-Q under the heading "Risk Factors"/"Factors That May Affect Future Results." In addition, the forward-looking statements provided by the Company in this press release represent the Company's views as of the date of this release. The Company anticipates that subsequent events and developments may cause the Company's views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, and these forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this release. (c)2007 Applix, Inc. All rights reserved. Applix and TM1 are registered trademarks of Applix, Inc. All other trademarks and company names mentioned are the property of their respective owners. |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion