Latest news with #Terzo
CBS News
06-07-2025
- Business
- CBS News
Businesses call it quits months after Minneapolis water main break; owners disappointed in city's lack of support
Businesses on West 50th Street and Penn Avenue South in southwest Minneapolis say the future is uncertain after a water main break badly damaged their building this winter. "It's sad to see this whole corner just devastated like this," Paperback Exchange owner Andrew Hersey said. Hersey lost 100,000 books in the Feb. 13 flooding. Months later, a lot is still up in the air. "There's a lot to do, a lot to figure out," Hersey said. At least four businesses were displaced — as well as residents living in the five apartment units above. "The city just left. I mean, damaged all these businesses and just took off and said they are not responsible, and we're just left to figure out what to do on our own," Hersey said. Inside Paperback Exchange in Minneapolis after a water main broke early in the morning on Feb. 13, 2025. WCCO Hersey is hopeful he'll reopen Paper Exchange, whether it's on 50th and Penn or not. It's community support — from loved ones, neighbors and book lovers — that keeps him going. Paperback Exchange has been a staple on the corner for 50 years and in his family for 34. Hersey says he's disappointed in the city's lack of support. "It would have been nice for someone from the city to show up and say, 'We value your business. We want you to reopen, what do you need in order to do that?' That never happened," he said. While Paperback Exchange is holding onto hope, others in the building are calling it quits. Terzo, an Italian restaurant owned by the Broder family, announced its closure at the end of May. "We have realized that the time, energy resources needed to rebuild Terzo are beyond our capacity," a Facebook post read. "As we close this chapter, our story continues on the corner of 50th and Penn. Our focus and commitment to the Broders' legacy is stronger than ever." Sparrow Cafe is also leaving. In an online fundraiser, the coffee shop said, "It'll be of little surprise that at this point Sparrow cannot re-open. From the politics of blaming the city, to uncooperative insurance or underinsured, the damage done is well outside of what insurance has covered for our business." Instead of serving customers on a packed patio Sunday morning, owners Jasper and Sheila Rajendren were packing up what was left. They say they couldn't have survived without the community support. "Even with that, and what insurance has covered for us, it's not enough to rebuild a space and then open a restaurant on top of that," Jasper Rajendren said. The husband-and-wife duo say "never say never" to reopening somewhere else, with the current economic climate, a perfect opportunity would need to arise. "There's been zero support from the city, as far as I know," Jasper Rajendren said. "They just, you know, cared about the sidewalk and the road more than they do about helping out with the building." Their landlord and owner of part of the building, Carroll Peterson, feels similarly. The outside of a Minneapolis building housing four businesses nearly five months after a water main broke nearby. WCCO "The city came in and said, 'No, we're not going to pay anything.'" he said. Peterson says he was led to believe he'd possibly get compensation from the city since it was their water main that caused the damage. He says some parts of the city have been helpful. Peterson said Ward 13 council member Linea Palmisano helped as much as she could, but overall it's been a horrible experience. "It was their main that blew through the ground and blew in our wall and you know, created a, basically a fountain," Peterson said. "The whole building was a giant fountain or was going up in the air. So, we assumed that the city would take responsibility for it, but they decided not to." As of this month, Peterson has some renters back in the apartments above, but it will be months before any new tenants — or businesses — will be up and running on the block again. "We had hoped that we would save the building, and in spite of the odds, we did," he said. "You know, it's a classic building, we're glad we did that. It's and if I just do it over again, I would, but I did. I didn't realize it was going to be as arduous and painful as it has been." In a statement, Council Member Linea Palmisano, Ward 13, wrote in part: "Per our Public Purpose Doctrine, we cannot use your taxpayer dollars to benefit an individual or business directly. Meaning we can't just give them money. I have done my best to expedite the restoration process, answer questions, give referrals, and provide business support resources to everyone to give them all the best chance to succeed. I cannot force them to participate in our programs or follow-up on suggestions. My fiduciary responsibility is to the City and its residents." WCCO reached out Sunday to the city of Minneapolis for comment.
Business Journals
30-05-2025
- Climate
- Business Journals
Terzo closes permanently after devastating flood
Terzo, the Broder family's Italian restaurant and wine bar at 50th Street and Penn Avenue, closed in February after a flood destroyed the building. The restaurant just announced it will not reopen.
Entrepreneur
26-05-2025
- Business
- Entrepreneur
How Terzo is Using AI to Transform Enterprises, Create Efficiencies, and Restore Balanced Lives
The next generation of workplace tech shouldn't use AI to replace people. It should use it to restore people. Experts estimate that AI already saves professionals more than an hour... This story originally appeared on Calendar The next generation of workplace tech shouldn't use AI to replace people. It should use it to restore people. Experts estimate that AI already saves professionals more than an hour daily on outsourced tasks. That number could increase to 12 hours in less than five years from this writing. This is a productivity game changer. However, it creates a question: What do we do with all of this extra time? One report found that nearly a third of professionals (29%) use their newfound free time to check their work and ensure its quality. Another near-third (28%) focus on creative endeavors, like innovating and problem-solving. These are valuable tasks, but we must resist our value-driven modern economy's tendency to reinvest profits back into financial purposes. We need to think bigger, consider the lives behind our work, and use some of our growing free time for things like balance, personal growth, and health. That's where Terzo and the Terzo Cares Foundation come into the picture. Terzo: Transformation Through Elimination Terzo is a SaaS platform created to eliminate the noise. Co-founder Brandon Card had the idea after years spent working inside tech giants like IBM and Microsoft. Throughout that experience, Card saw how inefficiencies can drain resources. One particularly appalling area was contract management. Teams scattered contracts across inboxes, OneDrive, local drives, and folders tucked away and forgotten on desktops. This simple element of overall operations managed to drain shocking amounts of time, energy, and billions of dollars from global enterprises. We're talking about major companies here. Card once saw a Fortune 100 CIO sign a $40 million deal — only to ask him for a signed copy of the contract weeks later. Card's lightbulb moment came when he realized contract management wasn't just inefficient. It was completely broken. There was no central system, no visibility, and no accountability. Contract lifecycle management (CLM) tools indeed existed. Digitally Managing Contracts Developers designed these so that contract management and agreements between customers, vendors, partners, and employees could happen digitally, but they prioritized legal needs first. Nobody in critical areas like IT, procurement, or finance actually uses them. This meant team members often didn't know where in the contract lifecycle they were. They weren't aware of things like contract execution, performance tracking, renewal, or spending. This led Card to a simple but seismic realization: No one had built CLM software for finance and procurement. In response, Card and Al Giocondi co-founded Terzo. This platform empowers Fortune 500 companies to manage contracts effectively, uncover hidden cost savings, and free up valuable time for strategic work. The platform's first version functioned like Salesforce for the buyer, giving finance and procurement teams control over their supplier relationships. It was game-changing, providing supplier relationship management with contract intelligence and historical spend visibility in one place. AI followed, becoming a central aspect of the current platform. Terzo's AI-as-a-service model now goes beyond visibility and data consolidation, automating the grunt work so business professionals can actually think, strategize, and lead. From the beginning, the platform has been all about uncovering hidden inefficiencies. This saves teams time, money, and mental energy. A perfect example of this was when one of the largest aerospace companies in the world used Terzo to cut a 40-hour contract review process down to five minutes. That's .002% of the original time. The Terzo Crossroads: Is Efficiency Enough? Reducing the time required for something by 99.8% is more than efficient. It's a full-on reset of what's possible. This is why Card and his team had to clarify their purpose with Terzo. As time and resources freed up, they realized they were on to something bigger than just boosting efficiency and lowering spending. It was about shifting cultures and, ultimately, saving people. When executives are stuck doing menial work, it kills momentum. The time, focus, and energy that come from Terzo are meant to help teams stop surviving and start building. Of course, that's easier said than done. The world of enterprise tech has become the new Wall Street. It is a high-pressure, high-stakes environment with no off switch. It has quietly adopted the same grind mindset, just without the suits — embracing long hours, relentless goals, and a culture that often rewards burnout over balance. Terzo provided the opportunity to break free of that cycle, but opportunity on its own isn't enough. That's where the Terzo Cares Foundation comes in. Brandon Card; Photo by Terzo The Terzo Cares Foundation: Putting Meaning Behind Efficiency Behind Terzo's software, artificial intelligence, and relentless pursuit of efficiency is a personal mission. This month, May 2025, Card is launching the Terzo Cares Foundation in memory of his late co-founder, Al Giocondi, who died by suicide in early 2024. Giocondi built the Terzo sales engine from scratch and had his hands on every outbound message, demo, and process. But he was much more than an innovator and entrepreneur. He was the soul of the company and the heartbeat of its culture. He underplayed titles, eschewed office politics, and made everyone feel like family. Giocondi cared about individuals, showed up with heart, and was fiercely loyal. He made work fun and reminded everyone to laugh, breathe, and enjoy the journey. Giocondi's spirit lies at the heart of the Terzo Cares Foundation. The nonprofit exists to honor his legacy by doing what he did best: making people feel seen, supported, and valued. The foundation is also a key reminder that life is bigger than business. It's about impact, mental health, and showing up for each other the way Giocondi always showed up for his coworkers and friends. Terzo Cares: A Focus on Financial Literacy and Mental Health With that in mind, Terzo Cares is laser-focused on rewriting the rules by putting people first — not by ignoring AI, but by using it. This is why its two focal points are mental health and financial literacy. The foundation addresses the former by challenging the concept of "work-life balance." In a digital-first, asynchronous, decentralized world, these lines have blurred. It's all life now. And nothing else matters if people aren't caring for their mental and physical health. Terzo Cares focuses on teaching current and up-and-coming generations real, applicable life skills, such as breathwork, meditation, and how to talk about stress, burnout, and pressure. It emphasizes building cultures where performance and well-being aren't at odds—they're connected. Why the dual focus on mental health and financial literacy? Because Terzo is a finance-first AI platform. Finance is in its DNA. Card is also aware that financial stress is destroying people's mental health. Terzo Cares Foundation addresses the root of this problem by addressing financial literacy. Lack of understanding can lead to mountains of debt, followed by anxiety, depression, and burnout. Terzo Cares goes beyond theory to teach real-life solutions, such as: How to open your first bank account. Setting up an LLC. How to manage cash. These skills go beyond school basics and build confidence in a world that is becoming more complex and expensive every day. Using Tech: From Efficiency to Quality of Life AI has to be about more than productivity and efficiency. The tech of the future must be focused on feeling better. It must help us create space for people to live better, think clearly, and actually enjoy their jobs again. This isn't theory, nor is it charity. It's a blueprint for resilience and the opportunity to thrive in a world where we have the tools but often lack the understanding to do so. When we can automate admin, it gives people their time, their focus, and their sanity back. Entrepreneurs like Brandon Card are going further by ensuring people understand and are empowered to use those gifts to improve their quality of life. Less stress. Less burnout. More balance. That's the Terzo way. Featured Image and Internal Image Credits: Photos by Terzo; Thanks! The post How Terzo is Using AI to Transform Enterprises, Create Efficiencies, and Restore Balanced Lives appeared first on Calendar.
Associated Press
20-05-2025
- Business
- Associated Press
Terzo Graduates from Tech Alpharetta
ALPHARETTA, Ga.--(BUSINESS WIRE)--May 20, 2025-- Tech Alpharetta, the nonprofit organization helping the City of Alpharetta lead in innovation, announces that Terzo has graduated from its startup incubator. Terzo, the enterprise AI platform that is revolutionizing how companies leverage data to improve operating decisions and financial performance, is the 24th graduate from Tech Alpharetta's startup incubator, which opened in 2015. Terzo offers the first AI-powered contract platform designed for both business and legal teams. It combines AI extraction with front-end analytics and search, enabling enterprises to extract, analyze, and gain insights from their financial documents to optimize spending, reduce risks, and drive informed business decisions. 'Tech Alpharetta has been a tremendous resource for Terzo,' states Terzo President Eric Pritchett. 'Tech Alpharetta's resources, programs and introductions, along with its incubator community and workspace, were vital in contributing to our success.' Since joining the incubator in 2021, Terzo has grown from one to sixteen full-time employees in Alpharetta and has increased its revenue by more than 20x. Earlier this month, Terzo moved its operational headquarters into its new space, located at 100 North Point Center East, Suite 440, in the city of Alpharetta. 'We're so proud of Terzo's impressive growth and success,' says Tech Alpharetta CEO Karen Cashion. 'Terzo will always be part of our Tech Alpharetta community, and we're excited to see the company continue to flourish in its new office.' With Terzo's graduation comes the opportunity for new startups to move into Terzo's former offices in Tech Alpharetta's incubator. One of those offices has already filled, and one eight-person office, along with a four-person office, remain available. The spaces are fully furnished and feature windows that offer excellent natural light. Please contact [email protected] for details or to schedule a tour. For more information about Tech Alpharetta and its incubator, visit About Tech Alpharetta Tech Alpharetta (previously the Alpharetta Technology Commission), the first organization of its kind in Georgia, was established in 2012 by the City of Alpharetta and is an independent, 501(c)(6) nonprofit organization today. The organization, whose mission is to help grow technology and innovation in Alpharetta, includes a strategic advisory board of Alpharetta's leading technology companies, and provides technology thought leadership events for area tech executives, founded a STEAM mentoring program for high school students (now an independent nonprofit), and Tech Alpharetta's Incubator, a flourishing tech startup incubator that is home to more than 50 tech startups. About Terzo Terzo is an AI-powered financial intelligence platform that enables enterprises to extract, analyze, and gain insights from their financial documents, optimizing spend, reducing risk, and driving smart business decisions. View source version on CONTACT: MEDIA CONTACT Rachel Jimenez Trevelino/Keller (404) 214-0722 Ext.113 [email protected] KEYWORD: UNITED STATES NORTH AMERICA GEORGIA INDUSTRY KEYWORD: SOFTWARE PROFESSIONAL SERVICES PHILANTHROPY FINTECH DATA MANAGEMENT START-UP TECHNOLOGY SMALL BUSINESS ARTIFICIAL INTELLIGENCE DATA ANALYTICS FOUNDATION LEGAL FINANCE SOURCE: Tech Alpharetta Copyright Business Wire 2025. PUB: 05/20/2025 09:30 AM/DISC: 05/20/2025 09:29 AM
Business Wire
20-05-2025
- Business
- Business Wire
Terzo Graduates from Tech Alpharetta
ALPHARETTA, Ga.--(BUSINESS WIRE)--Tech Alpharetta, the nonprofit organization helping the City of Alpharetta lead in innovation, announces that Terzo has graduated from its startup incubator. Terzo, the enterprise AI platform that is revolutionizing how companies leverage data to improve operating decisions and financial performance, is the 24th graduate from Tech Alpharetta's startup incubator, which opened in 2015. Terzo offers the first AI-powered contract platform designed for both business and legal teams. It combines AI extraction with front-end analytics and search, enabling enterprises to extract, analyze, and gain insights from their financial documents to optimize spending, reduce risks, and drive informed business decisions. 'Tech Alpharetta has been a tremendous resource for Terzo,' states Terzo President Eric Pritchett. 'Tech Alpharetta's resources, programs and introductions, along with its incubator community and workspace, were vital in contributing to our success.' Since joining the incubator in 2021, Terzo has grown from one to sixteen full-time employees in Alpharetta and has increased its revenue by more than 20x. Earlier this month, Terzo moved its operational headquarters into its new space, located at 100 North Point Center East, Suite 440, in the city of Alpharetta. 'We're so proud of Terzo's impressive growth and success,' says Tech Alpharetta CEO Karen Cashion. 'Terzo will always be part of our Tech Alpharetta community, and we're excited to see the company continue to flourish in its new office.' With Terzo's graduation comes the opportunity for new startups to move into Terzo's former offices in Tech Alpharetta's incubator. One of those offices has already filled, and one eight-person office, along with a four-person office, remain available. The spaces are fully furnished and feature windows that offer excellent natural light. Please contact Jade@ for details or to schedule a tour. For more information about Tech Alpharetta and its incubator, visit About Tech Alpharetta Tech Alpharetta (previously the Alpharetta Technology Commission), the first organization of its kind in Georgia, was established in 2012 by the City of Alpharetta and is an independent, 501(c)(6) nonprofit organization today. The organization, whose mission is to help grow technology and innovation in Alpharetta, includes a strategic advisory board of Alpharetta's leading technology companies, and provides technology thought leadership events for area tech executives, founded a STEAM mentoring program for high school students (now an independent nonprofit), and Tech Alpharetta's Incubator, a flourishing tech startup incubator that is home to more than 50 tech startups. About Terzo Terzo is an AI-powered financial intelligence platform that enables enterprises to extract, analyze, and gain insights from their financial documents, optimizing spend, reducing risk, and driving smart business decisions.
