Altvia recognized As 2019 Top 10% Of All B Corps

BROOMFIELD, COLORADO, September 4, 2019 (Newswire.com) –​​​​​Altvia, a Certified B Corporation, has been named a Best For The World honoree in recognition of their relationship with their workforce and the significant positive impact they’ve created over the last year. Altvia ranks in the top 10% of all B Corps in the worker impact area on the B Impact Assessment, thanks to their corporate culture, work environment, worker health and safety practices, and other employee-centric policies and practices.

Best For The World recognition is administered by B Lab, the global nonprofit that certifies and supports Certified B Corporations, which are for-profit companies dedicated to using business as a force for good. Today there are 3,000 Certified B Corporations across 64 countries and 150 industries, unified by one common goal: to redefine success in business.

B Corps meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. B Corp Certification doesn’t just evaluate a product or service, it assesses the overall positive impact of the company that stands behind it—like Altvia. Using the B Impact Assessment, B Lab evaluates how a company’s operations and business model impact its workers, community, environment, and customers. To achieve the B Corp Certification, a company must achieve a score of at least 80 points on the assessment.

“We’re incredibly proud of this year’s Best For The World honorees,” says Anthea Kelsick, Chief Marketing Officer of B Lab. “These inspiring companies represent the kinds of business models and impact-driven business strategies that are building a new economy—one that is inclusive, regenerative, and delivers value to all stakeholders, not just shareholders. To that end, B Corps like Altvia are redefining capitalism and showing that it actually can work for everyone.”

Altvia founder and CEO, Kevin Kelly released a statement, “We are humbled and proud to be named a B Corp Best For The World honoree considering the growth of the B Corporation movement and the number of incredible organizations that are out there using business as a force for good. While we can celebrate this honor, we realize there is more that we can do and we need to look no further than the B Corp Community to find inspiration. Our employees are the life bread of Altvia and we will continue to strive to create a great culture to support them in doing great work.”

1,000 B Corps from 44 countries were named to the 2019 Best For The World lists, including Patagonia, Beautycounter, Dr. Bronner’s, TOMS, and Seventh Generation. The 2019 Best For The World honorees are determined based on the verified B Impact Assessments of Certified B Corporations. The full lists are available on https://bcorporation.net/.

About B Lab: B Lab is a nonprofit that serves a global movement of people using business as a force for good. B Lab’s initiatives include B Corp Certification, administration of the B Impact Management programs and software, and advocacy for governance structures like the benefit corporation. B Lab’s vision is of an inclusive and sustainable economy that creates shared prosperity for all. To date, there are 3,000 Certified B Corps in over 150 industries and 64 countries, and over 50,000 companies use the B Impact Assessment. For more information, visit https://bcorporation.net/

B Lab Contact: Hannah Munger; Manager, PR & Communications; hmunger@bcorporation.net; +1 212-608-4150

Learn more about Altvia’s history by clicking here.

A traditional crm was built for general ‘customer’ scenarios

Software platforms have made the world a better place by making work a better place. Indeed the world is better off when people enjoy their jobs even marginally more, and workplace applications on big CRM platforms like Salesforce.com have done that and much more.

But the potential that platforms like these offer presents diminishing returns: once the platform provider has engineered too many industry specific components into its platform, its usefulness for other industries begins to be threatened, and with that so do the usefulness of the component tools built into the platform.

So it is with the CRM category that Salesforce.com has defined: it is generic enough to work for many industries, and yet still offers the potential for others to round off the edges and nail more vertically-oriented and extremely tailored software solutions.

Private capital markets are actually a great demonstration of this dynamic. Where generic CRM platforms simplify — appropriately so — to assume there’s a business, a customer, a sale, and service of that customer, there are a few industry-specific pieces that are missing.

Take for example, that investors become customers by investing through legal entities the GP raises. It’s a subtle but important nuance that just doesn’t make sense at a platform-as-a-service level (because it’s overly complicated for a simple one-time sale that many industries require), but which can easily be added without 10 years or software engineering. Once provided, the rest of the platform’s components become tremendously powerful again and you’re set to take over the world.

As a traditional CRM in our pillars methodology, these nuances must be present to properly account for investors in these legal entities, potential target companies and which are owned by these entities, the context of all interactions with these parties (as well as the appropriate overlap, ie co-investments), and how you’re arriving at finding these opportunities on both sides of the equation, such that you’re able to piece together what’s effective and what’s not. Not just because we say so, but because these are the very relationships and data that are key to the motivation behind a CRM in any industry.

It’s critical, too, that the valuable publicly-available information that helps to enrich CRM systems and save users painful steps of entering it themselves is fully-integrated at the platform level.

Again, look no further than the 3,000+ pre-built integrations that Salesforce.com — the creator of the CRM platform concept — has at a platform level to do so, and which only exists by way of holding just short of overly-specifying certain industry workflows that would present challenges to properly integrate.

Stakeholder reporting and communication (investor relations) draws on a range of datasets

The traditional “customer service” model of CRM systems once again makes overly-simplified assumptions about the customer relationship when applied to private capital markets.

In fifteen years I personally have yet to hear the terms “warranty” or “service call” in this market because it’s just not the same. But make no mistake, as uncomfortable as it may be to say aloud, customer service is more important now than ever and it’s constantly happening; the industry is, after all, considered to be a financial “service”.

As it turns out, that service is primarily information-based — it’s driven by data and takes the form of reports and analysis that drive decisions, and then end up again in investor-facing reports and analysis.

The foundational elements of a private capital markets CRM must be built such that they accommodate this data (like we discussed above), but so too that it can accommodate additional supporting data that investors (customers!) need in the context of service.

Oftentimes this supporting data — financial metrics and time-based values, for example — is believed not to meet the traditional definition of CRM and the natural thought is “well, better do this in Excel!”.

While I happen to believe Excel is still the greatest software application ever built, its introduction to this value chain we’ve discussed herein actually creates the problem many firms suffer from: key data needed to provide customer service (again: effectively the entirety of a firm’s reports and analysis) is now in disparate systems and detached.

Both of those dynamics are important and distinct: not only is this supplemental data disparate, but when brought together there is no logical association that can be made between the two data sets.

Allow me, then, to make the point very simply: not only can this financial and time-based value data (you may be thinking about is as “portfolio monitoring” or “accounting”) be a part of a CRM, it is arguably the most important part of a CRM because it’s at the core of what providing service to the customer entails — information that comes out of data!

Firms need a digital method to engage stakeholders (ie investor portals)

Investor portals are not new; in fact, for many of us — including myself — they conjure up horrifying nightmares in which we’re aimlessly guessing at folders to find the newest document we need.

So in lies the opportunity: not only have the portals we’ve come to hate not simplified the process of acquiring information, they’ve failed to create an entirely new experience that is “customer service” driven.

To be fair, this is not a B2C market where you’d be long out of business for not having focused on customer service and thus the customer’s technology-driven experience. But don’t expect to be around too much longer if you aren’t thinking about this shift.

Today’s institutional investors increasingly expect this same consumer-like experience, and a massive opportunity is being missed by not providing it. It’s not about providing them the experience they desire; it’s more about the ability to measure engagement that is had in return.

Put simply: what’s keeping the market from providing this experience is the availability of the information that’s required to create the service that provides the experience.

If you’ve hung in this long, you know that by focusing on your CRM, you have the data that’s required to manage the customer relationship and the technology-driven experience through which that information is shared to create a differentiated and opportunistic customer experience.

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