Globenewswire | April 12, 2023
WalkMe Inc., a leading provider of digital adoption solutions, today announced it has achieved Ready status for the Federal Risk and Authorization Management Program (FedRAMP) at a Moderate impact level. With this achievement, WalkMe becomes the first digital adoption platform provider listed on the FedRAMP Marketplace as the company advances its existing position in accelerating federal agencies’ technology modernization and IT transformation.
With WalkMe, the Federal Government will be able to accelerate mission success in multiple areas including:
Digital Government/Digital Services - providing a framework for digital services and improving critical Customer Experience (CX) initiatives for employees and citizens
Technology & Legacy Modernization - enhancing and renovating legacy platforms and enterprise applications
Data & Information Management - improving data integrity and quality issues related to interoperability of the government tech stack
Improving the Government Workforce - increasing employee productivity by eliminating operational drag of poorly optimized software and application
FedRAMP is a government-wide program that provides a standardized approach to security assessment, authorization, and continuous monitoring for cloud products and services. It helps the U.S. government adapt from legacy IT to secure cloud-based solutions.
The U.S. federal market is one of the largest and most complex enterprises in the world, which will now benefit from WalkMe’s established success and innovation in a range of markets including healthcare, financial services, education, hospitality, retail, and more.
WalkMe is listed on the FedRAMP Marketplace with Authority to Operate status at the Moderate level estimated in Summer 2023.
“Achieving FedRAMP Ready status signifies an incredible moment in WalkMe’s growth story as we officially enter the U.S. Federal market,” said Billy Biggs, Vice President - Public Sector, WalkMe. “Digital transformation is a top priority for every C-level executive within the federal government. Now more than ever, federal executives are looking for technology solutions that deliver true return on investment and help accelerate mission success in a matter of weeks, not years. The feedback from the federal government ecosystem on the WalkMe value proposition over the last few months has been extremely positive, and we’re excited to be able to offer our solutions while meeting the highest security posture via FedRAMP.”
As part of WalkMe’s progress, the company also expects to move from StateRAMP “active” status to “pending” to further serve the security standards for state, local and higher education clients interested in getting the most out of their technology investments through digital adoption platforms. Being FedRAMP Ready means that WalkMe can offer a full range of its solutions to U.S. federal, state and local government customers, U.S. government contractors, and federally funded research and development centers (FFRDCs).
WalkMe's cloud-based digital adoption platform enables organizations to measure, drive and act to ultimately accelerate their digital transformations and better realize the value of their software investments. Our platform leverages proprietary technology to provide visibility to an organization's Chief Information Officer and business leaders, while improving user experience, productivity and efficiency for employees and customers. Alongside walkthroughs and third-party integration capabilities, our platform can be customized to fit an organization's needs.
Prnewswire | April 19, 2023
Renovus Capital Partners ("Renovus") today announced that its newly formed platform, Aretum, LLC ("Aretum" or the "Company"), has acquired Miracle Systems, LLC ("Miracle"), an Arlington, VA-based prime contractor to more than twenty federal agencies domestically and internationally. Miracle joins existing Renovus portfolio company Panum Telecom, LLC ("Panum") within Aretum, a leading mid-tier organization focused on providing management consulting, mission support and technology solutions. Aretum primarily serves the DoD, DHS and Federal Civilian agencies through a broad array of contracts, contract vehicles and talented resources.
"We are excited to bring together a rich and diverse pool of highly talented professionals under one organization," said Dr. Vaikunth Gupta, Co-Founder of Panum. "Our goal is to continue building Aretum into a best-in-class service provider to DHS, civilian and Department of Defense agencies."
"The combination of Panum and Miracle under the Aretum umbrella is yet another step in our growing commitment to support the mission of government agencies with technology and management consulting services," said Atif Gilani and Manan Shah, Partners at Renovus Capital. "We are confident that Aretum will bring technology-focused innovative solutions to support our customers while unlocking value for our investors and stakeholders."
Sandesh Sharda, Founder and CEO of Miracle Systems, commented, "Renovus really stood out from the other investors we considered. They had already made a significant growth investment in Panum and have great familiarity and understanding of the space where we operate."
Aretum becomes the third Renovus platform in the government service space. Renovus will leverage its deep expertise across the broader knowledge and talent space to continue building each platform through a combination of organic expansion and add-on acquisitions.
King & Spalding served as legal counsel to Renovus and Panum. UBS Investment Bank served as exclusive financial advisor to Miracle Systems, and Greenberg Traurig served as legal counsel.
About Miracle Systems
Miracle Systems is an innovative solutions provider bringing an entrepreneurial spirit and thought leadership to the Federal Government. We are an array of program managers, engineers, financial analysts, IT experts, systems designers, security specialists, trainers, and mission support specialists who have joined forces to create timely, tested, and sustainable solutions. Our signature offerings encompass PMO support, engineering services, financial consulting, IT modernization initiatives, mission-critical cyber support, and comprehensive training services. Established in 2003 and headquartered in Arlington, VA, our success has been demonstrated by cultivating long-term employees – and long-term clients. We proudly service over 100 contracts, and prime over 90 – managing over $900 million across civilian and military sectors. Miracle Systems consistently delivers high levels of customer satisfaction through innovation, ethics, and excellence.
About Aretum, LLC
Aretum LLC is a newly formed holding company that owns Miracle Systems and Panum Telecom. Miracle Systems (www.MiracleSystems.net) provides leading edge solutions and outstanding service to Federal clients, focusing on PMO Support, Financial Consulting, Engineering Services, Training Services, IT Systems, Cyber Mission. Miracle System has 90 active Prime Contracts across the US Government. Panum Telecom, LLC (www.panum.com) offers a broad spectrum of mission services including nutritional health, and management consulting services such as program & project management, acquisition & contract management, business & strategy consulting and next generation analytics, information and communications technology services such as network infrastructure & security, research & analysis, and training to Federal Government agencies. Panum is based in Bethesda, MD.
About Renovus Capital Partners
Founded in 2010, Renovus Capital Partners is a lower middle-market private equity firm specializing in the Knowledge and Talent industries. Renovus manages over $1 billion including its three sector-focused funds. The firm's portfolio includes over 25 businesses in education and training, healthcare services, technology services and professional services. Renovus typically partners with founder-led businesses, leveraging its experience to make operational improvements, recruit top talent, pursue add-on acquisitions, and oversee strategic growth initiatives.
Businesswire | April 28, 2023
ABBYY today announced it has expanded its partnerships that serve state and local government agencies. Data from the Government Accountability Office revealed that federal IT legacy systems cost over $330 million annually to maintain, while delivering sub-optimal service and carrying risks inherent to older platforms. To address the agencies’ needs to modernize both back-end and consumer-facing IT systems, ABBYY partnerships will expand the accessibility of its intelligent automation solutions to streamline cumbersome processes, enhance citizen experiences and improve the overall ability to meet constituents’ needs.
Among ABBYY’s expanded partnerships is MCCi, which was recently named as a company to watch in the annual GovTech 100. MCCi has numerous ongoing initiatives to digitally transform government services, including unemployment and Social Security fraud mitigation and accounts payable automation. The city of Coppell, Texas is among their customers that have successfully automated accounts payable processes using ABBYY intelligent document processing solutions to turn key document insights into efficient outcomes. By leveraging ABBYY technology, Coppell reduced invoice processing time from days to minutes.
“Right out of the box, ABBYY intelligent document processing was very impressive,” said Jerod Anderson, director of Enterprise Solutions for the city of Coppell. “We gave it a dozen of our invoices, and it processed with 99% accuracy on 90% of those. It uses machine learning, so once it’s corrected, the next time an invoice from that vendor comes through, ABBYY understands it and will process it with 100% accuracy.”
Additionally, MCCi holds a contract with the Texas Department of Information Resources (DIR) where ABBYY is a part of an approved distributor solution. ABBYY is also approved through several other government contracts, including the State of New York Information Technology Umbrella Contract, the State of California Software License Program, and the NASPO ValuePoint Cooperative Purchasing Contract via Carahsoft. Furthermore, our approval through Carahsoft has enabled state agencies to leverage ABBYY IDP and Proof of Identity in the motor vehicle sector to expedite document review and identity verification and proofing.
“Our expanded partnership with ABBYY to serve the public sector is crucial because in many cases paper processes are necessary to provide services to constituents caught in the digital divide,” stated Donny Barstow, CEO of MCCi. “Paper forms do not have to slow modernization efforts. Clients like Coppell, TX are accelerating their adoption of automation technologies because of all the aforementioned drivers and are having proven, repeated success in improving their citizens’ experience.”
Bruce Orcutt, SVP of Product Marketing at ABBYY commented, "Agencies in the public sector work with trusted, best-in-breed solutions that are scalable and easy to deploy. We have the expertise to address the growing document-centric challenges of these agencies, especially as rises in unemployment claims increase the need to accelerate processing while mitigating fraud risk. MCCi has deep connections and understands the public sector, enabling them to navigate citizens’ weariness toward poor service experiences. Strategic partnerships like these are instrumental to our growth and contributions in the public sector.”
As citizens grow accustomed to exemplary customer experiences provided by Amazon and banking institutions, their expectations of government entities evolve. For example, a recent ABBYY survey identified the top three factors contributing to the public dropping out of registration for government services as taking too much time/too many steps (54%), requiring excessive and repetitive manual entry (50%), and making identity verification too difficult (26%).
ABBYY powers intelligent automation. We reimagine the way people work and how companies accelerate business by delivering the intelligence that fuels automation platforms. Our solutions transform enterprise data and empower you with the insights you need to work smarter and faster. We help more than 10,000 companies globally, including many of the Fortune 500, to drive significant impact where it matters most: customer experience, profitability, and competitive advantage. ABBYY is a US-based global company with offices in 14 countries. For more information, visit www.abbyy.com.
MCCi is a business process automation company that accelerates digital transformation by adding intelligence to your processes. As an IT services company with expertise in delivering end-to-end professional services provider, we provide our clients some of the leading technologies for business process automation, including Laserfiche for content services, Blue Prism and UiPath for robotic process automation, ABBYY for intelligent capture, and One Span for digital signatures. We are a trusted partner to over 1,100 government organizations, including cities, counties, state agencies, special districts, K-12, and higher education and are a proud GovTech 100 company for 2023.