Companies Turn to Services Providers to Source Specialized Skills Required to Compete in the Digital Economy, But Few Manage This Growing Workforce Well
Services providers account for nearly half of the world’s workforce
spend, global study reveals
BARCELONA, Spain–(BUSINESS WIRE)–#SAPAribaLive—SAP Ariba Live – The way work gets done is changing. To tap into
specialized talent, organizations increasingly rely on the external
workforce, which includes contingent workers such as freelancers and
independent contractors, and services providers such as IT consultancies
and marketing agencies. In fact, according to new research conducted by SAP
Fieldglass in collaboration with Oxford Economics, some 42% of
workforce spend is on the external workforce. Yet, the study also found
that many companies are not managing the external workforce effectively.
Management of services providers is particularly weak. Detailed findings
from the global study, Services
Procurement Insights 2019: The Big Reveal, will be shared
today at SAP
Ariba Live and the SAP
Fieldglass Summit, two events taking place in Barcelona, Spain.
According to the study, nearly half (48%) of executives say their
company would be unable to conduct business as usual without an external
workforce, and 59% state that the external workforce helps them compete
in a digital world. Many executives believe the external workforce is
important or extremely important for achieving business goals such as
increasing speed to market (61%) and improving the customer
experience/client satisfaction (67%).
The Invisible Workforce
The research reveals that services providers perform vital work across
the enterprise. In particular, they are a valuable source of the
specialized skills companies need to compete in today’s digital economy,
such as artificial intelligence, machine learning, blockchain, data
science, robotics and the Internet of Things.
And yet, while many organizations excel in managing the financial side
of their contracts with services providers, they fall short when it
comes to managing the “people” aspects of these engagements. These
include who is doing the work, their certifications and training, their
access to systems and facilities, the quality of their work, their
progress against milestones and deliverables, and more.
The core issue is that many organizations do not view services providers
as a workforce. Under-management of this “invisible workforce” can lead
to unsatisfactory project outcomes and creates risk. The study reveals
many staggering statistics, including:
-
One in four projects by services providers is not completed on time or
on budget. -
44% of respondents experience digital security breaches with services
providers sometimes, frequently or nearly every engagement. -
Only 27% of executives are highly informed about services providers’
progress against milestones and/or deliverables, and 25% are highly
informed about the quality of work at the supplier level. This limited
visibility makes it difficult to determine return on investment.
“Pacesetters” reveal best practices
Approximately 11% of respondents take much more rigorous approaches to
managing and extracting value from their services providers. These
Pacesetters outshine others in three ways: they have greater visibility
of services providers; they apply more management rigor to these
engagements; and their services providers help them compete in a digital
world. Molly Spatara, Global Vice President of Brand Experience
at SAP Ariba & SAP Fieldglass, explains, “Pacesetters’ qualities help
them thrive in today’s fast-paced economy. Given the high stakes and
potential gains in services procurement, every company should strive to
emulate or surpass the Pacesetters and manage services providers as
effectively as possible.”
Four key actions
The research presents four key actions organizations can take to improve
management of services providers, unlock greater value, boost return on
investment and mitigate risk. These actions empower organizations to
manage services providers with the same rigor used to manage employees,
enabling them to reap far greater rewards from this workforce.
In the study, more than 1,000 senior executives in 24 industries across
21 countries were surveyed to understand the role of services providers
in getting work done, how they are managed and their impact on business
performance. To download a copy of the research and see the four key
actions organizations should take to improve their management of
services providers, please visit: www.fieldglass.com/services-procurement-insights-2019.
About SAP Ariba & SAP Fieldglass
SAP Ariba & SAP Fieldglass is how companies connect to get business done
and spend better. With SAP Ariba & SAP Fieldglass, businesses can manage
the buying process across all categories of spend – from direct and
indirect goods and services to external workforce. On Ariba
Network, buyers and suppliers from more than 4.1 million companies
and 190 countries discover new opportunities, collaborate on
transactions, grow strong relationships, and build healthy supply
chains. It’s where more than $2.8 trillion in commerce gets done every
year. SAP Fieldglass is used by organizations in more than 180 countries
to find, engage and manage flexible workforces that include non-payroll
workers and service providers. With SAP Ariba & SAP Fieldglass,
companies are transforming how they manage all categories of spend with
improved operational efficiency and compliance, increased agility and
accelerated business outcomes. To learn more visit www.ariba.com
and www.fieldglass.com.
About SAP
As the cloud company powered by SAP HANA®, SAP is the market leader in
enterprise application software, helping companies of all sizes and in
all industries run at their best: 77% of the world’s transaction revenue
touches an SAP® system. Our machine learning, Internet of Things (IoT),
and advanced analytics technologies help turn customers’ businesses into
intelligent enterprises. SAP helps give people and organizations deep
business insight and fosters collaboration that helps them stay ahead of
their competition. We simplify technology for companies so they can
consume our software the way they want – without disruption. Our
end-to-end suite of applications and services enable more than 413,000
business and public customers to operate profitably, adapt continuously,
and make a difference. With a global network of customers, partners,
employees, and thought leaders, SAP helps the world run better and
improve people’s lives. For more information, visit www.sap.com.
Any statements contained in this document that are not historical facts
are forward-looking statements as defined in the U.S. Private Securities
Litigation Reform Act of 1995. Words such as “anticipate,” “believe,”
“estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,”
“predict,” “should” and “will” and similar expressions as they relate to
SAP are intended to identify such forward-looking statements. SAP
undertakes no obligation to publicly update or revise any
forward-looking statements. All forward-looking statements are subject
to various risks and uncertainties that could cause actual results to
differ materially from expectations. The factors that could affect SAP’s
future financial results are discussed more fully in SAP’s filings with
the U.S. Securities and Exchange Commission (“SEC”), including SAP’s
most recent Annual Report on Form 20-F filed with the SEC. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of their dates.
© 2019 SAP SE. All rights reserved.
SAP and other SAP products and
services mentioned herein as well as their respective logos are
trademarks or registered trademarks of SAP SE in Germany and other
countries. Please see http://www.sap.com/corporate-en/legal/copyright/index.epx#trademark for
additional trademark information and notices.
Contacts
Kelly Murray
SAP Ariba
+1 978 708-6821
[email protected]
TORONTO and GLIL YAM, Israel, Sept. 11, 2024 /PRNewswire/ — IM Cannabis Corp. (“IMC” or the “Company“) (NASDAQ: IMCC) (CSE: IMCC), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that Mr. Shmulik Arbel has been appointed to the Company’s board of directors (the “Board“) effective September 9, 2024. Mr. Arbel brings a wealth of experience in strategic plans that drive profitability, as well as, finance and corporate governance, further strengthening the company’s commitment to driving growth while focusing on sustainable profitability.
“We are thrilled to welcome Shmulik to our Board of Directors,” said Oren Shuster, Chief Executive Officer of IM Cannabis. “Shmulik’s extensive international experience at Leumi, coupled with his proven track record in banking and finance will be invaluable as we continue to deliver on our strategic initiatives.”
Mr. Arbel retired as Deputy CEO from Leumi, Israel’s largest banking group, in April 2023, where he was instrumental in business growth and leading the service revolution. With over 25 years of experience at Leumi, Arbel has held senior roles throughout the organization, such as head of retail banking, head of the corporate division, and as chairman of Leumi UK. With key roles in Israel, New York and London, Mr. Arbel has a wide view on international business.
“I am honored to join the Board of Directors at IMCC,” said Mr. Arbel. “I look forward to leveraging my experience in banking and finance, providing guidance as IMCC continues to establish itself as the go-to brand in the cannabis world. I look forward to contributing to the company’s growth.”
Arbel holds a BA and MBA from Tel Aviv University.
About IM Cannabis Corp.
IMC (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis company that provides premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets. The Company has focused its resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. The Company leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.
The IMC ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel that enable the safe delivery and quality control of IMC products throughout the entire value chain. In Germany, the IMC ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients.
Disclaimer for Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements under applicable Canadian and United States securities laws (collectively, “forward-looking statements“). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements relating to: the stated benefits Mr. Arbel’s appointment, including the further strengthening the Company’s commitment to driving growth in the German market while focusing on sustainable profitability; and Mr. Arbel’s international experience and track record in banking and finance will be invaluable to the Company.
Forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to: the Company’s ability to realize upon the stated benefits Mr. Arbel’s appointment; and Mr. Arbel’s international experience and track record in banking and finance becoming invaluable to the Company.
The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the Company’s ability to continue to meet the listing requirements of the Canadian Securities Exchange and the NASDAQ Capital Market; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and its subsidiaries (collectively, the “Group“) to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfil the Group’s obligations; the Group’s possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group’s cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt; risks surrounding war, conflict and civil unrest in Eastern Europe and the Middle East, including the impact of the Israel-Hamas war on the Company, its operations and the medical cannabis industry in Israel; risks associated with the Company focusing on the Israel and Germany markets; the inability of the Company to achieve sustainable profitability and/or increase shareholder value; the inability of the Company to actively manage costs and/or improve margins; the inability of the company to grow and/or maintain sales; the inability of the Company to meet its goals and/or strategic plans; the inability of the Company to reduce costs and/or maintain revenues; the Company’s inability to take advantage of the legalization of medicinal cannabis in Germany; and the Company’s inability to realize upon the stated benefits Mr. Arbel’s appointment; and Mr. Arbel’s international experience and track record in banking and finance not becoming valuable to the Company.
Please see the other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual report dated March 28, 2024, which is available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and Edgar at www.sec.gov/edgar. Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
Company Contact:
Anna Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338
[email protected]
Oren Shuster, CEO
IM Cannabis Corp.
[email protected]
Logo: https://mma.prnewswire.com/media/1742228/IM_Cannabis_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/im-cannabis-announces-appointment-of-shmulik-arbel-to-board-of-directors-302244961.html
Indivior
Indivior Provides Update on Aelis Farma’s Clinical Phase 2B Study Results with AEF0117 in Participants with Cannabis Use Disorder
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 (AS IT FORMS PART OF DOMESTIC LAW IN THE UK BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018).
- Primary and Secondary End Points of the Study were Not Met
- Indivior Does Not Currently Expect to Exercise AEF0117 Option
SLOUGH, United Kingdom and RICHMOND, Va., Sept. 4, 2024 /PRNewswire/ — Indivior PLC (Nasdaq/LSE: INDV) is today providing an update following Aelis Farma’s announcement of the results from its clinical Phase 2B trial with AEF01171, evaluating the efficacy and safety in treatment-seeking participants with moderate to severe Cannabis Use Disorder (CUD). The purpose of this trial was twofold: (1) to show that AEF0117 (0.1, 0.3, 1 mg once a day for 12 weeks) lowers cannabis use and (2) to determine the endpoints and optimal dosage of AEF0117 for use in future studies. In this phase 2B study, patients were treatment-seeking participants, 84% of whom had severe CUD.
The results of the study demonstrated that the primary endpoint, the proportion of participants who reduced their cannabis use to ≤1 day per week, as well as secondary endpoints measuring the proportion of participants reaching either complete abstinence or who used ≤2 day per week, were not met. Although these results are disappointing, they indicate that significant work remains to be done to understand subpopulations of patients with CUD, specifically those with severe CUD.
This clinical Phase 2B study is part of the strategic collaboration between Aelis Farma and Indivior, which includes an exclusive option for Indivior to license the global rights to AEF0117. Given the lack of separation from placebo on primary and secondary endpoints and before seeing further additional favorable clinical data, Indivior does not currently expect to exercise its option.
Important Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that are forward-looking. Forward-looking statements include, among other things, express and implied statements regarding whether: we will be able to ultimately demonstrate the safety and efficacy of AEF0117, which is a prerequisite to filing any New Drug Application; we might ever exercise our option for AEF0117 and, if so, when; and other statements containing the words “believe,” “anticipate,” “plan,” “expect,” “intend,” “estimate,” “forecast,” “strategy,” “target,” “guidance,” “outlook,” “potential,” “project,” “priority,” “may,” “will,” “should,” “would,” “could,” “can,” “outlook,” “guidance,” the negatives thereof, and variations thereon and similar expressions. By their nature, forward-looking statements involve risks and uncertainties as they relate to events or circumstances that may or may not occur in the future.
Actual results may differ materially from those because they relate to future events. Various factors may cause differences between Indivior’s expectations and actual results, including, among others, the risks described in our most recent annual report on Form 20-F beginning on page 9 as filed with the U.S. SEC and in subsequent releases; legal and market restrictions that may limit how quickly we can repurchaser our shares; the substantial litigation and ongoing investigations to which we are or may become a party; our reliance on third parties to manufacture commercial supplies of most of our products, conduct our clinical trials and at times to collaborate on products in our pipeline; our ability to comply with legal and regulatory settlements, healthcare laws and regulations, requirements imposed by regulatory agencies and payment and reporting obligations under government pricing programs; risks related to the manufacture and distribution of our products, most of which contain controlled substances; market acceptance of our products as well as our ability to commercialize our products and compete with other market participants; competition; the uncertainties related to the development of new products, including through acquisitions, and the related regulatory approval process; our dependence on third-party payors for the reimbursement of our products and the increasing focus on pricing and competition in our industry; unintended side effects caused by the clinical study or commercial use of our products; our ability to successfully execute acquisitions, partnerships, joint ventures, dispositions or other strategic acquisitions; our ability to protect our intellectual property rights and the substantial cost of litigation or other proceedings related to intellectual property rights; the risks related to product liability claims or product recalls; the significant amount of laws and regulations that we are subject to, including due to the international nature of our business; macroeconomic trends and other global developments such as armed conflicts and pandemics; the terms of our debt instruments, changes in our credit ratings and our ability to service our indebtedness and other obligations as they come due; changes in applicable tax rate or tax rules, regulations or interpretations and our ability to realize our deferred tax assets; and volatility in our share price due to factors unrelated to our operating performance or that may result from the potential move of our primary listing to the U.S.
Forward-looking statements speak only as of the date that they are made and should be regarded solely as our current plans, estimates and beliefs. Except as required by law, we do not undertake and specifically decline any obligation to update, republish or revise forward-looking statements to reflect future events or circumstances or to reflect the occurrences of unanticipated events.
This release is being made by Kathryn Hudson, Company Secretary Indivior PLC.
About Indivior
Indivior is a global pharmaceutical company working to help change patients’ lives by developing medicines to treat substance use disorders (SUD), overdose and serious mental illnesses. Our vision is that all patients around the world will have access to evidence-based treatment for the chronic conditions and co-occurring disorders of SUD. Indivior is dedicated to transforming SUD from a global human crisis to a recognized and treated chronic disease.
Building on its global portfolio of OUD treatments, Indivior has a pipeline of product candidates designed to both expand on its heritage in this category and potentially address other chronic conditions and co-occurring disorders of SUD. Headquartered in the United States in Richmond, VA, Indivior employs over 1,000 individuals globally and its portfolio of products is available in over 30 countries worldwide. Visit www.indivior.com to learn more. Connect with Indivior on LinkedIn by visiting www.linkedin.com/company/indivior.
References:
- National Library of Medicine (U.S.) (2022, April). Effect of AEF0117 on treatment-seeking patients with cannabis use disorder (CUD) (SICA2). Identifier
NCT05322941 https://www.clinicaltrials.gov/study/NCT05322941
Logo – https://mma.prnewswire.com/media/1814851/Indivior_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/indivior-provides-update-on-aelis-farmas-clinical-phase-2b-study-results-with-aef0117-in-participants-with-cannabis-use-disorder-302237355.html
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