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Over the years, the quality of software and the processes by which it is built have gained traction. This has led enterprises to transition from Quality Assurance (QA) to Quality Engineering (QE). With this, enterprises have started to connect the results of the quality function with overall business outcomes.

With the increased hype and adoption of newer technologies such as generative AI, it has become more critical to understand the implications for processes, people, and technology and the new opportunities for the quality function.

There is a massive surge of generative AI use cases across the Software Testing Life Cycle (STLC) and quality interventions in generative AI applications/systems. On the supply side, big giants such as Microsoft, Google, and Meta are investing aggressively to dominate the generative AI landscape.

Consolidated Revenue Rs. 468.02 crores and Net Profit Rs.48.04 Cr
Standalone Revenue Rs. 202.86 crores and Net Profit Rs. 29.50 Cr

Consolidated Financial Performance for Q3YF24 v/s Q3FY23 (Corresponding Year)

• Revenue of 468.02 crore v/s. Rs. 427.99 crore [9.4%]
• Reported EBITDA of 64.57 crore v/s. Rs. 64.02 crore [0.9%]
• PAT of 48.04 crore v/s. Rs. 46.55 crore [3.2%]

Consolidated Financial Performance for Q3FY24 v/s Q2FY24 (Sequential Quarter)

• Revenue of 468.02 crore v/s. Rs. 451.83 crore [3.6%]
• EBITDA reported of 64.57 crore v/s. Rs. 64.83 crore [-0.4%]
• PAT of 48.04 crore v/s. Rs. 45.86 crore [4.8%]

Consolidated Financial Performance for 9M FY24 v/s 9M FY23 (Corresponding Quarter)

• Revenue of 1,359.37 crore v/s. Rs. 1,222.61 crore [11.2%]
• EBITDA reported of 191.46 crore v/s. Rs. 169.33 crore [13.1%]
• PAT of 138.46 crore v/s. Rs. 119.08 crore [16.3%]

One phenomenon that knocked the wind out of everyone’s lungs in 2023 was artificial intelligence! Right from chatbots to AI tools for video and content creation, it has caught everyone’s fancy.

India wasn't far behind, as several companies and apps mushroomed, reflecting the global scenario. A NASSCOM report shows that more than 60 Indian startups started shop in April and June 2023. The optimism surrounding AI has rubbed off on investors, too.

NASSCOM’s India Data Science & AI Skills Report shows spending on AI in India topped $3 billion in 2022 and is expected to jump to $4.2 billion by 2024.

Hyderabad, 29^th Dec: Cigniti Technologies, the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company inaugurated a new Offshore Delivery Centre (ODC) in the International Tech Park, Hyderabad. The facility was inaugurated by Mr. C V Subramanyam, Chairman, and Mr. Srikanth Chakkilam, CEO of Cigniti.

The newly inaugurated office space of around 40,000 sq. ft accommodates 400 professionals adding to the current 2 lakh sq. ft. The ODC is equipped with two state-of-the-art training centers that foster continuous learning and innovation. In the near future, Cigniti plans to add a digital experience center in the newly inaugurated facility.

Speaking on the occasion, Mr. Srikanth Chakkilam, CEO of Cigniti Technologies stated, "As we step into a new year, the inauguration of our ODC symbolizes the beginning of a chapter filled with possibilities and opportunities. This expansion not only amplifies our capabilities but also underscores our commitment to providing a world-class work environment for our employees. With additional space, advanced facilities, and enhanced infrastructure, we are poised to elevate the employee experience, fostering collaboration and innovation."

In the diverse landscape of technology, the integration of Artificial Intelligence (AI) is reshaping various aspects of software development, with software testing being at the center of transformation. Traditionally viewed as a meticulous and time-intensive process, software testing is undergoing a paradigm shift propelled by the evolving role of AI. Let’s explore the opportunities and challenges present in incorporating AI into software testing, uncovering how it optimizes test coverage and efficiency.

Unleashing Predictive Analytics
One of the most exciting possibilities of AI in software testing is its capacity to harness predictive analytics. By scrutinizing historical data, AI algorithms can predict potential risk areas, empowering testing teams to focus strategically on their efforts.

Dallas, 06^th Dec: Cigniti Technologies, the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company is positioned as a Major Player in IDC MarketScape: Worldwide Software Engineering Services 2023 Vendor Assessment (doc #US51330523, November 2023).

The IDC MarketScape study states that enterprises are increasingly partnering with software engineering services providers as software continues to permeate every aspect of product and operations transformation. Every stage of the software product or platform development life cycle is getting modernized by leveraging cloud, generative AI/ML (machine learning), analytics, and new software methodologies such as Agile, microservices, continuous integration/continuous delivery (CI/CD), docker, Kubernetes, and containerization.

According to the report, “Cigniti’s customers rated the company highly for its innovative services delivery and its ability to communicate the value of its software engineering services and how it positively impacts their business. IDC rated Cigniti highly for its strategy to strengthen its services across each ISV, software platforms, and custom software product development services capabilities. Cigniti’s customers were appreciative of its ability to offer the full life cycle of services, which included business problem understanding, design thinking, and software engineering services.”

India is at a pivotal juncture in a rapidly advancing tech world. The nation’s economic, social, and political fabric is woven into cyberspace, manifesting a digital-centric existence. While this digital revolution opens a plethora of opportunities, it also exposes India to a host of vulnerabilities.

India has made significant strides, from widespread adoption of e-governance to the thriving e-commerce ecosystem. The “Digital India” campaign, a flagship government initiative, has played a pivotal role in this transformation.

26^th October, Hyderabad, India: Cigniti Technologies, the world's leading AI & IP-led Digital Assurance and Digital Engineering services company, is honored to receive the ISG Case Study Standout Award in the Education category for its AI/ML decision-making predictive model work for Adelphoi, a leading non-profit organization based in the US.

ISG Case Study Standouts—an evolution of the ISG Digital Case Study Awards program—recognize the best-in-class work of service providers in collaboration with enterprise clients. Companies worldwide submitted their case studies, which underwent validation by the client organization and ISG digital researchers, resulting in a selection based on a comprehensive analysis of the real-world effects of digital transformation on the client's business and the distinctiveness of the provider's solutions.

Adelphoi is a non-profit organization that provides outcome-based solutions for neglected, delinquent, abused, and other at-risk children and their families, combining treatment and mental health services. Cigniti's case study recognition for Adelphoi is for its AI/ML decision-making predictive model that leveraged historical data to recommend the most suitable treatment program for each child, enhancing overall care and minimizing the percentage of 'return to care.'

"The accelerated adoption of digital technologies and business models was strongly evident in the case studies we received this year," said Paul Reynolds, ISG partner and chief research officer. "The Cigniti Technologies case study with Adelphoi is a standout example of how AI/ML can be a differentiator to accelerate product development and attain first-mover advantage in a new and unexplored market."

London, 5^th October: Cigniti Technologies Limited, the world’s leading AI & IP-led Digital Assurance and Digital Engineering Services company, has achieved the Trusted Information Security Assessment Exchange (TISAX) Label 2 Certification with Maturity Level 3 for its Digital Assurance and Quality Engineering Services in the India and Europe regions in the Automotive Industry.

TISAX is an association of leading German automakers and their top suppliers, aiming to safeguard intellectual property, ensure security, and uphold privacy regulations throughout the automotive supply chain. ENX, a renowned German association, issues this globally recognized certification.

Srikanth Chakkilam, CEO and Director, Cigniti Technologies Inc stated “ The automotive industry is one of the most targeted sectors for cyberattacks, with an average of 270 attacks per organization per day in 2022 according to recent reports. In light of these risks, it is more important than ever for automotive suppliers to implement robust cybersecurity measures. This recognition underscores our commitment to delivering the highest standards of quality and security in our Digital Assurance and Quality Engineering services to our global clients. At Cigniti, we remain committed to delivering excellence, and together with our clients, we will continue to drive innovation and secure success in an increasingly interconnected world.”

Commenting on the achievement, Cigniti’s Chief Delivery Officer, Raghu Krovvidy stated "As the automotive industry races towards a future defined by innovation and digital transformation, cybersecurity stands as the cornerstone of trust and reliability. The mandate for TISAX certification echoes the industry's commitment to safeguarding critical data and ensuring the resilience of our interconnected ecosystem. Cigniti’s achievement of the esteemed TISAX Label 2 Certification with Maturity Level 3 is a testament to our unwavering dedication to security excellence. This milestone propels us into the role of a trusted partner for manufacturers, OEMs, and global automotive clients, empowering them to accelerate their digital journeys with confidence and assurance."

Dallas, September 21, 2023 - Cigniti Technologies, the world's leading AI & IP-led Digital Assurance and Digital Engineering services company, has been recognized as a Leader in the Quality Engineering (QE) Specialist Services PEAK Matrix^® Assessment 2023 from Everest Group. This recognition marks a significant shift for Cigniti, which was previously positioned as a "Major Contender" for the past two years.

The report by Everest Group cites that in today’s dynamic business landscape, the enterprise technology landscape is rapidly evolving, and software products are taking center stage. The need for faster time-to-market has become imperative, driving frequent releases and the adoption of both shift-left and shift-right approaches. Quality Engineering (QE) now holds heightened importance as expectations for superior products soar. Providers are channeling investments into innovation and enhanced capabilities to support enterprises in their journey toward quality transformation. With such objectives, enterprises are looking to partner with providers that can understand their QE goals and suggest solutions that fit within their complex technology ecosystem and processes.

In today’s dynamic and demanding business landscape, quality assurance (QA) promises to deliver reliable products and services across industries. It’s the discipline that ensures that a product functions as intended, adheres to rigorous standards, and ultimately satisfies customers. However, the story does not end here. With the advent of Artificial Intelligence (AI) and Machine Learning (ML), organizations find themselves at the cusp of a QA revolution —a transformation that promises to elevate QA processes to unprecedented levels of efficiency and excellence.

The Power of AI in QA
In the Gartner Achieve Business Agility With Automation, Continuous Quality, and DevOps Survey, 84% of respondents said that AI and machine learning (ML) features were more important than other features in software testing tools.

In an age defined by rapid technological advancement and digital transformation, the threat landscape of cybercrime continues to escalate, requiring organization and individuals to strengthen their cybersecurity defenses. With cybercriminals employing increasingly sophisticated techniques, the traditional approach to security is no longer sufficient. Generative AI has emerged as a powerful ally in fortifying cybersecurity and detecting fraudulent activities in response to this ever-evolving threat.

By harnessing machine learning capabilities and analyzing vast volumes of data, generative AI algorithms can identify patterns and anomalies that signal potential security breaches or fraudulent behaviors. Let’s delve into how generative AI empowers cybersecurity professionals to stay one step ahead of cybercriminals, safeguard sensitive information and protect digital assets.

Dallas, 28 August 2023 - Cigniti Technologies, the world's leading AI & IP-led Digital Assurance and Digital Engineering services company, has been recognized as a Contender in Digital Innovation Services and Managed Services categories in the US and Europe regions in the ISG Provider Lens™ Retail & CPG Services 2023 Study.

The study evaluates service providers based on their ability to address the unique challenges and opportunities faced by organizations within the Retail & CPG sector.

Philip Carnelley, Lead Analyst from ISG, said, "Cigniti’s capabilities in Digital Engineering and Digital Assurance make it a contender for large and medium-sized US and European Retail/CPG companies to consider for their digital innovation journeys. Notable capabilities include innovations in domain-specific use cases around Computer Vision, Robotics, and Data Engineering alongside considerable strength in Managed Services, especially in the testing arena, combined with experience in all the major applications software suppliers.”

Srikanth Chakkilam, CEO of Cigniti Technologies, stated, "Being acknowledged by ISG as a contender in the Digital Innovation Services and Managed Services showcases our commitment to solidify our retail presence while expanding into other promising areas. The new digital technological advancements are transforming the retail customer experience, leading to substantial investments in this area. Retail remains one of our top revenue-generating verticals, constituting over 23% of our revenue. Throughout our journey, we have collaborated with Global 2000 and Fortune 500 Retail and CPG companies delivering Digital assurance services. This recognition motivates us to have deeper conversations with our customers to understand and accelerate their digital journeys.”

Sairam Vedam, CMO of Cigniti Technologies, added, "Cigniti's recognition as a Contender in Digital Innovation Services and Managed Services by ISG in the US and Europe regions underscores our commitment to driving transformative solutions. We take pride in our AI & IP-led approach, which empowers Retail & CPG companies with cutting-edge Digital Engineering and Digital Assurance capabilities to enhance customer experiences and contribute to the success of businesses in the retail and CPG sectors. Our expertise in emerging technologies such as Computer Vision, Robotics, Data Engineering, and more positions us as a valuable partner for organizations seeking innovation and excellence in this dynamic sector.”

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

During the quarter, your revenue improved sequentially but margins declined. Do you see margins improving from Q3 onwards?
We have reported a sequential growth of about 3.4% on a quarter-on-quarter basis, which we believe to be a fair performance given the recent macroeconomic conditions. We have, however, observed a decline in margins during this current quarter due to the performance-based appraisals for FY24.

Nevertheless, during these challenging times, we are cautiously optimistic. Our capacity to adapt to the changes and maintain agility has been symbolic in our journey, and we intend to continue delivering the same. It is noteworthy that we refrain from offering fixed guidance, given the continuously evolving nature of the situation. Our primary focus shall remain to respond to the market dynamics with a defined approach while ensuring optimal outcomes for our stakeholders...

In today’s rapidly transforming world, Data has emerged as a key enabler for dealing with current business challenges and future opportunities. By 2024, 75% of organizations are expected to establish a centralized data and analytics data center of excellence to support federated Data & Analytics initiatives and prevent enterprise failure, according to Gartner. This article highlights the common data quality challenges faced by enterprises and highlights the contributions of Cigniti Technologies…

In an interview with CNBC Bajar, Krishnan Venkatachary, CFO at Cigniti Technologies discusses Q1FY24 performance & business outlook.

In an interview with CNBC TV18, Krishnan Venkatachary, CFO at Cigniti Technologies discusses Q1 performance & FY2024 outlook.

Dallas, July 25, 2023 - Cigniti Technologies, the world's leading AI & IP-led Digital Assurance and Digital Engineering services company, is delighted to announce that for the first time that its IP, Zastra^TM, has been recognized as one of the notable vendors in Forrester's report titled "The Computer Vision Tools Landscape, Q2 2023."

Zastra™, Cigniti’s Computer Vision (CV) Platform offering is identified in the report as a general purpose foundation, built to be extensible, that can be used to build any type of application. As an Enterprise-grade Annotation & Collaboration Platform for Digital Engineering services, Zastra^TM employs advanced Active Learning techniques, reducing annotation efforts by up to 70% while ensuring top-notch detection, classification, and segmentation of image and video datasets.

The report states that “Computer vision technologies are still evolving — with advances in modeling, data labeling, and tool development continuing to push this space forward decades after its first emergence. CV tools can offer state-of-the-art technologies and provide use-case-specific functions that make pervasive AI possible. Hyperscalers are promoting computer vision services as an extension of their AI/ML platforms. Pure-play vendors have prioritized verticals and are expanding coverage to more types of customers. Tech leaders and business professionals will face a plethora of vendor options and should pay attention to the market dynamics”