AptSoft Secures $6 Million in Second-Round Funding as Demand Grows for Its Business Process/IT Alignment Technology.BURLINGTON, Mass. -- New financing to grow sales channel, expand product development for AptSoft's Event-driven Application Collaboration technology As momentum continues to build for its business process/IT alignment technology, AptSoft closed $6 million in second-round financing to build staff, enter new markets and increase revenue. Led by Boston-based venture capital firm, Egan-Managed Capital, the funding will help AptSoft increase market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" for its Event-driven Application Collaboration(TM) (EDAC EDAC - error detection and correction (TM)) software, which helps companies become more agile by aligning their IT infrastructure with their business goals. "The age of over-building came to a screeching halt in 2001, and companies are now realizing that the most efficient way to get the most business value from their infrastructure is to better align their existing IT investments with their revenue goals," said Frank Andrasco, a partner at Egan-Managed Capital. "AptSoft developed a fast and affordable platform for creating this alignment that has helped customers realize ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). almost immediately." Companies depend upon AptSoft software to coordinate activity across previously siloed applications like customer relationship management (CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. ), sales and supply chain, enabling these systems to collaborate in support of strategic business processes. AptSoft's technology has gained momentum because it is fast, cost-effective and flexible enough to customize how companies want to connect these systems, while easy enough to enable non-technical and technical staff to work together toward business goals. These benefits help companies align their IT systems to the business processes that drive revenue. AptSoft's customer list includes one of the country's largest property/casualty insurers as well as loyalty management solutions provider Circles Company Associates. Its growing list of strategic partners includes CGI CGI in full Common Gateway Interface. Specification by which a Web server passes data between itself and an application program. Typically, a Web user will make a request of the Web server, which in turn passes the request to a CGI application program. , Salesnet and Broadbeam. Aside from Egan-Managed Capital, venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] Lazard Technology Partners and Portage Portage (1, 2 pôr`təj; 3 pôr`tĭj). 1 Town (1990 pop. 29,060), Porter co., NW Ind., a suburb of Gary, on Lake Michigan; inc. 1959. Venture Partners reinvested in AptSoft for the second round of financing. "Aligning IT with business is a critical piece to the agile enterprise The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. puzzle," said Frank Chisholm, AptSoft's founder and 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. . "An 'alignment gap' exists because of the structural incompatibility between stovepipe IT applications and the seamless cross-functional nature of business processes. AptSoft's Event-driven Application Collaboration solution was specifically designed from the ground up to close this gap by allowing all constituencies in the organization to detect and respond to key interactions as they occur across existing systems in support of strategic objectives." About AptSoft Corporation The AptSoft Corporation, based in Burlington, Mass., is an enterprise software company focused on aligning existing IT systems with business processes to help companies become more agile in response to market opportunities. AptSoft's Event-driven Application Collaboration software is twice as collaborative between IT and business process owners, three times as cost-effective, five times faster, and 10 times more flexible than custom code. Companies use AptSoft's lightweight, easy-to-use software to generate new revenue streams and improve customer service while reducing IT costs by extending existing systems. For more information, visit the company's Web site at www.aptsoft.com. |
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