In this week’s column, tech deals and investments are flowing…
WorkJam, the digital workforce solution provider, said it received a $20 million investment from Export Development Canada (EDC) to fuel its international expansion. The company plans to leverage the funding to bolster its market presence in Europe and Asia.
With a surge in global travel and increased demand for exceptional customer service, frontline workers across various industries are facing unprecedented challenges. WorkJam aims to address these issues by providing digital tools that empower employees, enhance productivity and boost job satisfaction.
“We are thrilled to partner with EDC as we embark on this exciting phase of growth,” said Steven Kramer, CEO of WorkJam. “This investment validates our mission to transform the frontline workforce and underscores the significant impact our platform has on businesses worldwide.”
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WorkJam’s clients includes Fortune 500 companies operating in retail, hospitality, manufacturing, logistics and healthcare. The company’s platform offers a comprehensive suite of tools including scheduling, task management, communication and learning modules — designed to streamline operations and improve employee engagement.
“WorkJam is a shining example of Canadian tech innovation,” said Guillermo Freire, senior vice-president of EDC’s Mid-Market Group. “We are confident that this investment will propel WorkJam to new heights and solidify its position as a global leader in frontline workforce management.”
Blue Yonder Acquires One Network Enterprises
Looking to strengthen its position as a leader in digital supply chain innovations, Blue Yonder wrapped up its acquisition of One Network Enterprises. The deal was valued at approximately $839 million.
The acquisition comes at a time when retailers and brands face ongoing supply chain volatility and disruptions, which makes real-time operational visibility and agility crucial.
Duncan Angove, CEO of Blue Yonder, said the deal “is not just about expanding our technology but transforming how supply chains operate. Integrating One Network’s cutting-edge technology into the Blue Yonder platform supercharges our capabilities, giving our clients unparalleled visibility and control.”
Angove said with real-time insights, AI-driven analysis and improved collaboration across networks, “businesses can preempt disruptions and optimize performance across their supply chains.”
As a result of the acquisition, the Blue Yonder suite is now a multi-enterprise, multi-tier network ecosystem that enables customers to view inventory and capacities in real time, thereby ensuring better supply-demand matching and quicker disruption response.
AI-powered tools are used to aid in monitoring, analysis and problem resolution across the supply chain. Simplified processes for onboarding new trading partners enhance collaboration within a global network of over 150,000 partners, the company said, adding that One Network will continue to operate independently in providing bespoke technology solutions to its government clients.
“Today’s business environment demands that decisions be made swiftly and collaboratively across an increasingly complex network of partners,” Angove added. “The newly acquired capabilities from One Network are crucial for businesses looking to thrive amid the challenges of modern markets.”
Data Breach Costs Hit Record Highs
Businesses are facing a brutal reality: Data breaches are becoming increasingly disruptive and expensive, with the global average cost reaching a staggering $4.88 million in 2024, according to IBM’s annual Cost of a Data Breach Report. This marks a 10 percent increase from the prior year — and the largest yearly jump since the pandemic.
The report, conducted by Ponemon Institute and sponsored by IBM, analyzes real-world data breaches experienced by over 600 organizations globally. Some of the key findings:
Disruption Drives Up Costs: Lost business, customer support and third-party response costs are skyrocketing due to the significant disruption caused by breaches. Seventy percent of breached organizations reported experiencing major disruption, leading to higher overall costs.
Security Staffing Shortage Takes a Toll: Understaffed security teams are struggling to keep up with the evolving threat landscape. Organizations with severe staffing shortages saw breach costs climb to $5.74 million, significantly higher than those with adequate staffing.
AI Offers Hope, But Risks Remain: While organizations using security AI and automation saw lower breach costs and faster containment times, the rapid adoption of generative AI (gen AI) introduces new security vulnerabilities. Businesses need to invest in AI-driven defenses alongside addressing staffing shortages.
There were some positive developments, though.
The report found that AI is helping to speed up response time. IBM said security AI and automation are proving valuable tools, enabling organizations to detect and contain breaches 98 days faster on average. In addition, internal detection is making a difference. Researchers found that proactive internal detection by security teams led to shorter breach lifecycles and significant cost savings compared to breaches discovered by attackers. There’s also been an increased investment in security.
