In Q4FY23, the consolidated revenue from operations increased more than 23 percent from last year's same quarter, while the net profit of the company zoomed more than 117 percent. What were the contributing factors behind the impressive results?

Our niche positioning and unwavering execution were pivotal in our outstanding performance. We steadfastly focused on our existing Fortune 500 and Global 2000 clients, skilfully up-selling and cross-selling our services.

Hyderabad, India, 11^th May 2023 - Cigniti Technologies, the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company, has been recognized as a great place to work in India for the second year in a row by the Great Place To Work^® India. Cigniti's ethical work culture and humanity-first approach, which inspires innovation and opportunities, helped the organization secure this placement.

As the global authority on workplace culture, Great Place To Work brings 30 years of groundbreaking research and data to help every place become a great place to work for all. Their proprietary platform and For All™ Model helps companies evaluate the experience of every employee, with exemplary workplaces becoming Great Place To Work Certified™ or receiving recognition on a coveted Best Workplaces™ List.

Speaking on the occasion, Srikanth Chakkilam, CEO at Cigniti Technologies said, “We are honored to receive the Great Place To Work Certification™ for the second consecutive year. This is in line with our mission to become a Top 10 place to work in key geographies by 2028. With a team of over 4,200 professionals across the globe, Cigniti has grown into a widely respected organization that is inclusive, nurtures innovation, and creates opportunities to deliver a positive impact with the work that they do. This recognition will further affirm our position as an organization with digital future-ready talent. We will continue to aspire to be the iconic workplace of the future by benchmarking ourselves based on industry leaders.”

Consolidated Revenue Rs. 424.97 crores and Net Profit Rs. 49.24 Cr for Q4FY23.
The Board has Recommended a Dividend of Rs. 3 & an Additional Special Dividend of Rs. 2.50 on the Company's Successful Completion of 25 Years.

Consolidated Financial Performance for FY23 v/s FY22 (Corresponding Year)

• Revenue of 1647.58 crore v/s. Rs. 1241.80 crore [32.7%]
• Reported EBITDA of Rs 237.70 crore v/s. 129.28 crore [83.9%]
• PAT of 168.32 crore v/s. Rs. 91.74 crore [83.5%]

Consolidated Financial Performance for Q4YF23 v/s Q4FY22 (Corresponding Year)

• Revenue of 424.97 crore v/s. Rs. 344.08 crore [23.5%]
• Reported EBITDA of 68.37 crore v/s. Rs. 32.61 crore [109.6%]
• PAT of 49.24 crore v/s. Rs. 22.60 crore [117.9%]

Consolidated Financial Performance for Q4FY23 v/s Q3FY23 (Corresponding Quarter)

• Revenue of 424.97 crore v/s. Rs. 427.99 crore
• EBITDA reported of 68.37 crore v/s. Rs. 64.02 crore
• PAT of 49.24 crore v/s. Rs. 46.55 crore

Sairam Vedam, Chief Marketing Officer, Cigniti Technologies | Thursday, May 9, 2023

In today’s dynamic business landscape, Artificial Intelligence (AI) has emerged as a game-changer, revolutionizing business operations, enhancing accuracy, boosting efficiency, and facilitating better decision-making. Cloud computing has proven to be an ideal platform for businesses to capitalize on AI’s vast potential. In this article, we will delve into how enterprises can leverage the benefits of AI in the cloud to derive business value, streamline operations and gain a competitive edge.

First, let’s understand the benefits of cloud computing……….

Prestigious Global Annual Awards Program Recognizes Standout Digital Health & Medical Technology Products and Companies

Dallas, USA, May 8, 2023 – Cigniti Technologies, the world's leading AI and IP-led Digital Assurance and Digital Engineering services company, today announced that its Internet of Medical Things (IoMT) Digital Quality Engineering Automation framework has won the "Best IoT Healthcare Platform" award in the 7th annual MedTech Breakthrough Awards program. The award program conducted by MedTech Breakthrough, an independent market intelligence organization, recognizes the global health and medical technology market's top companies, technologies, and products.

Cigniti's Internet of Medical Things (IoMT) Digital Quality Engineering Automation framework ensures wearables can predict and customize required medicine intake and deliver with precision while adhering to USFDA regulations. The Software as a Medical Device (SaMD) platform is wholly automated with minimal/no human intervention and capable of performing negative testing to ensure that the wearable delivers the intended results.

On the occasion, Srikanth Chakkilam, CEO of Cigniti Technologies, said, "We are proud to be at the forefront of the rapidly evolving medical devices industry, where IoMT and connected devices are becoming increasingly important. IoMT can reduce cost, mitigate care coordination challenges faced by the healthcare industry, and increase the speed and precision of diagnosis and treatment in real-time. We are excited about the growing market for medical devices, and Cigniti is poised to continue its growth in the space. Winning the "Best IoT Healthcare Platform" is a testament to our expertise in digital assurance for medical devices compliant with FDA regulations."

Krishnan Venkatachary, CFO of Cigniti Technologies, shares insights on the company’s Q4 and FY2023 financial performance and discusses Cigniti’s outlook for FY 2024 and beyond in a conversation with Nirmal Bang.

Friday, 21 April 2023, 4:38 pm IST

The importance of succession planning, the approach of an organization, identifying potential candidates for critical roles, and implementing challenges are some of the key aspects of succession planning.

Highlights

• The organization gives importance to the positions that provide well-rounded exposure to an individual and help develop leadership bench strength.
• From a talent development lens, it is a proactive process to identify and groom high-potential employees and prepare them for future leadership roles.
• Engagement: Critical positions require people with a higher degree of commitment and accountability.

Sirisha Peyyeti, Senior Vice President of Digital Engineering Services, Cigniti Technologies | Wednesday, 19 April 2023

What inspired or encouraged you to pursue a career in STEM?

Peyyeti: “There are a large number of opportunities for getting into STEM, irrespective of gender. That provided the much-needed initial impetus. But, subsequently, making a career in STEM was mainly due to the interest in the area. Computer programming had caught up and was throwing many challenges that made it an interesting field, and equally important was the fact that this was a field that provided financial stability with a great career path.”

What have you found to be the biggest challenge along the way?

Peyyeti: “Honestly, I am fairly happy with the way my career progressed. But, I would say…………..

Brands that prioritize experience tend to outperform their competitors by achieving benefits such as improved brand preference, increased revenue growth, and high customer retention rates.

In this digital economy, travelers’ expectations from travel & tourism brands have made a paradigm shift. They expect a seamless, intuitive, and hyper-personalized experience at every step of their travel journey. Travel brands are geared up for this shift and are formulating more personalized services that provide value-driven experiences. A study by PwC revealed that 1 in 3 customers would switch from a brand they were previously loyal to after just one unsatisfactory encounter, indicating the importance of delivering exceptional customer experience.

Brands that prioritize experience tend to outperform their competitors by achieving benefits such as improved brand preference, increased revenue growth, and high customer retention rates. In an era of hyper-personalization, providing a positive experience for travelers has become critical.

Constructing Meaningful Experiences that Matter

Based on their persona, each traveler is unique. From a business traveler to a laid-back traveler, a family with children to a single mother, all want to create precious memories while enjoying a much-needed break.

According to a recent analysis, the global Smart Hospitality market is anticipated to grow at a CAGR of 29.8% and reach $49.8 billion by 2027. The hospitality service providers may streamline the experience at every touch point, from the time a hotel is booked until check-out and the return home.

Since the very first paper was produced about it in 1991, Blockchain has divided the technology community into three groups:

• The Believers: Blockchain will replace governments, the world will be run by Blockchain.
• The Non-Believers: It’s just another Silverlight.
• The I-don’t-care-ers: I’ll just wait until someone does something.

Then in 2008, Bitcoin happened, and two more sections of people got added to the list –

• Crypto Warriors: End of the banks. The world has changed forever!
• Crypto Weary-ers: It’s a pandora’s box that will increase crime.

Why Blockchain is Gaining Traction?

While the reality is that Blockchain is just like any other technology that goes through the hype cycle, it has one fundamental advantage: it is what we call a “horizontal technology”. This means it has several use cases and applications compared to something like a Silverlight. More and more people are realizing the fact that there is more to Blockchain than cryptocurrencies.

‘Gartner estimates blockchain will generate $3.1 trillion in new business value by 2030’

The “Private Blockchain” world has far more use cases that can be transformational in the corporate world. Examples like supply chain traceability are already very popular and many companies are either in the process of implementing the same or have already implemented them. Similarly, secure sharing of data over blockchain networks, identity management using blockchain wallets, etc. are all use cases that are seeing a lot of traction. It is important to note though that a lot of these implementations are driven by trying to solve an existing problem rather than trying to reinvent the wheel. For example, blockchain in the supply chain is being used as a system of record rather than as a contract automation system.

31^st March 2023, Hyderabad, India: Cigniti Technologies, the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company, appoints ex-Chairman and CEO of Capgemini India, Dr. Srinivas Kandula as its Executive Director on the Board. Dr. Kandula brings with him a wealth of experience from his previous role where he was responsible for leading the company's operations across India and as Head of HR at IGATE. This appointment supports the company’s ambitions to equip itself to achieve tremendous scale and multi-fold growth that it aims to achieve in the near foreseeable future.

In his new role, Dr. Kandula will work closely with Cigniti's Chairman & MD, Mr. C V Subramanyam, to provide strategic direction and inputs across all functions to help Cigniti in its vision, “Together, we build a better future through technology-led transformation”.

“Srinivas's rich and diverse experience will help Cigniti Technologies accelerate its journey towards becoming a billion-dollar quality-first software and digital engineering services company. He will provide leadership, direction, and insights to ensure that the organization is operating efficiently and effectively and will advise the Management at Cigniti to drive business growth and transformation. I look forward to collaborating closely with him for his strategic direction and inputs across all functions," said Mr. C V Subramanyam, Chairman & MD, Cigniti Technologies.

Srinivas Atreya, Chief Data Scientist, Cigniti Technologies | Thursday, 30 March 2023, 12:54 IST

Let us go back a bit in history to the first Industrial Revolution to frame the context for this question better. The revolution occurred in late 18th century England and was responsible for the rapid urbanization & industrialization of the west.

For the first time, machines were able to provide labour much more efficiently. As a result, incomes more than doubled, and England became the Industrial powerhouse of the world. By the early 1900s, more than 70% of the world’s textiles were manufactured within 40 kilometres of Manchester. The global south which missed this opportunity is playing catch up even today.

I guess we have a similar opportunity today. Generative AI is transforming our world in ways that were not thought possible just a few years ago. AI is no longer just a tool for business. It is going to be the very engine on which businesses will deliver value to their customers. The one thing that is different from the Industrial revolution is that this technology is more democratized. It is available for anyone willing to use it and makes the situation both exciting and terrifying for the enterprises.

As part of its CSR efforts, Cigniti supported a gynecology facility with medical equipment at MNJ Institute of Oncology, Regional Cancer, Hyderabad, India

Hyderabad, India 24^th March, 2023: As part of its CSR initiative, Project Cignificance, Cigniti Technologies, the world’s leading AI and IP-led Digital Assurance and Digital Engineering services company, extended its support to the Government MNJ Institute of Oncology, Regional Cancer in Hyderabad, India. Cigniti provided crucial healthcare and essential medical equipment for a gynecology unit supporting women cancer patients from marginalized communities.

Cigniti Technologies has always been at the forefront of supporting healthcare initiatives. This latest contribution reflects our commitment to supporting this facility with essential medical equipment like ICU beds, Ventilators, Multi-Channel Monitors, Infusion Pumps, Ultrasound Portable, Colposcope, air conditioners for the room, and many more. These equipments will enable them to offer more advanced care and medical attention to the patients.

The facility was inaugurated by Mr. Raghu Krovvidy, CDO at Cigniti Technologies in the presence of Mr. Sairam Vedam, CMO at Cigniti Technologies, and Mr. Midhun Pingili, Sr. Director of Marketing at Cigniti Technologies. Mr. Mayur Patnala, Founder and CEO of Nirmaan Organization, and Dr. Jayalatha, Director of MNJ Institute of Oncology and Regional Cancer Hospital, graced the occasion at the hospital.

In an interview with CNBC TV 18, Krishnan Venkatachary, CFO at Cigniti Technologies discusses the company’s strong financial performance and business outlook.

Cigniti is undertaking multiple initiatives, including women in tech roundtable, herDIGITALstory, and enabling essential healthcare facilities.

Cigniti has organized dedicated programs for women in tech, along with diversity and inclusion (D&I), aspirant professionals from rural areas, and disadvantaged women in need of basic healthcare facilities.

February 27, 2023, 4:35 PM IST

Artificial Intelligence (AI) and machine learning (ML) are highly advanced technologies that will transform people’s lives on a deeper level than one can imagine in the years to come. The AI and ML market has been expanding quickly for a while. A Fortune Business Insight report predicted that investment in machine learning would reach $209.91 billion by 2029.

Looking ahead to the year, if there is anything we can be certain of, it is that the businesses that are equipped to deal with uncertainty — from market fluctuations to geopolitical instability will be the ones best positioned to serve their customers, employees, and stakeholders. AI has seen exponential growth in the last five years because it has gifted humans with new capabilities to use data to swiftly respond to changing environments as soon as new data comes in.

We have listed down the major AI and ML trends that will be dominant in 2023 and beyond.