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PR Newswire

China Customer Relations Centers, Inc. Enters into Definitive Merger Agreement for Going Private Transaction

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TAI’AN, China, March 12, 2021 — China Customer Relations Centers, Inc. (Nasdaq: CCRC) (the "Company"), a leading e-commerce and financial services business process outsourcing ("BPO") service provider in China, today announced that it has entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with Taiying Group Ltd. ("Parent") and Taiying International Inc. ("Merger Sub"), a wholly-owned subsidiary of Parent.

Pursuant to the Merger Agreement, Parent will acquire the Company for a cash consideration equal to US$6.50 per share of the Company (each, a "Share"). This amount represents a premium of 37.7% over the Company’s closing price of US$4.72 per Share on November 27, 2020, the last trading day prior to November 30, 2020, the date that the Company announced it had received a "going-private" proposal, and a premium of 37.8% to the volume-weighted average closing price of the Company’s Shares during the 60 trading days prior to November 30, 2020. This amount also represents an increase of approximately 21.0% over the US$5.37 per Share initially offered by the buyer group in their initial "going-private" proposal on November 27, 2020.

Immediately following the consummation of the merger, Parent will be beneficially owned by a group of rollover shareholders, including Mr. Zhili Wang, the chief executive officer and chairman of the Board and director of the Company, Mr. Debao Wang, the chief financial officer of the Company, Mr. Guoan Xu, director and Vice President of the Company, Mr. Qingmao Zhang, Mr. Long Lin, Mr. Jishan Sun and certain other shareholders of the Company (collectively, the "Buyer Group").

As of the date of the Merger Agreement, the Buyer Group beneficially owns, in the aggregate, approximately 71.1 % of the outstanding Shares of the Company.

Subject to the terms and conditions of the Merger Agreement, at the effective time of the merger, Merger Sub will merge with and into the Company, with the Company continuing as the surviving company and a wholly-owned subsidiary of Parent, and each of the Shares (issued and outstanding immediately prior to the effective time of the merger will be cancelled and cease to exist in exchange for the right to receive US$6.50 per Share, in cash, without interest and net of any applicable withholding taxes, except for (a) Shares beneficially owned by the Buyer Group, (b) Shares owned by Parent, Merger Sub, the Company (as treasury, if any) or any of their respective subsidiaries immediately prior to the effective time, (c) Shares reserved (but not yet allocated) by the Company for settlement upon exercise or vesting of any option to purchase the Shares granted under the Company’s 2018 Share Incentive Plan on or prior to the date of closing whether or not such option has become vested on or prior to the date of closing in accordance with the Company’s 2018 Share Incentive Plan immediately prior to the effective time, and (d) Shares owned by shareholders who have validly exercised and have not effectively withdrawn or lost their dissenter rights under the BVI Business Companies Act which will be cancelled and each holder thereof will be entitled to receive only the payment of the fair value of such Shares in accordance with the BVI Business Companies Act.

The Company’s board of directors, acting upon the unanimous recommendation of the special committee formed by the board of directors (the "Special Committee"), approved the Merger Agreement, and resolved to recommend that the Company’s shareholders vote to authorize and approve the Merger Agreement and the merger. The Special Committee, which is composed solely of independent directors of the Company who are unaffiliated with Parent, Merger Sub or any member of the Buyer Group or management of the Company, exclusively negotiated the terms of the Merger Agreement with the Buyer Group with the assistance of its independent financial and legal advisors.

The merger which is currently expected to close in the second quarter of 2021, is subject to various closing conditions, including a condition that the Merger Agreement be authorized and approved by a resolution approved by the affirmative vote of a majority of the votes of the Shares entitled to vote thereon in respect of which the shareholders holding the Shares were present at the extraordinary general meeting of the shareholders or an adjournment thereof in person or by proxy and being Shares in respect of which the votes were voted in accordance with the BVI Business Companies Act and the memorandum and articles of the Company. Pursuant to a rollover and support agreement entered among the Buyer Group and Parent, the Buyer Group has agreed to vote all the Shares beneficially owned by it in favor of the authorization and approval of the Merger Agreement and the merger. If completed, the merger will result in the Company becoming a privately-owned company wholly owned directly by Parent, its Shares will no longer be listed on The Nasdaq Capital Market.

Parent has entered into a debt commitment letter pursuant to which China Merchants Bank Co., Ltd. has agreed to provide a secured term facility for the merger, subject to certain conditions.

The Company will prepare and file with the U.S. Securities and Exchange Commission (the "SEC") a Schedule 13E-3 transaction statement, which will include a proxy statement of the Company. The Schedule 13E-3 will include a description of the Merger Agreement and contain other important information about the merger, the Company and the other participants in the merger.

Houlihan Lokey (China) Limited is serving as financial advisor to the Special Committee; Hogan Lovells is serving as U.S. legal counsel to the Special Committee.

Commerce & Finance Law Offices is serving as legal counsel to the Buyer Group.

Additional Information about the Merger

In connection with the proposed merger, the Company will prepare and mail a proxy statement that will include a copy of the Merger Agreement to its shareholders. In addition, certain participants in the proposed merger will prepare and mail to the Company’s shareholders a Schedule 13E-3 transaction statement that will include the Company’s proxy statement. These documents will be filed with or furnished to the SEC. INVESTORS AND SHAREHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THESE MATERIALS AND OTHER MATERIALS FILED WITH OR FURNISHED TO THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED MERGER AND RELATED MATTERS. In addition to receiving the proxy statement and Schedule 13E-3 transaction statement by mail, shareholders also will be able to obtain these documents, as well as other filings containing information about the Company, the proposed merger and related matters, without charge, from the SEC’s website (http://www.sec.gov) or at the SEC’s public reference room at 100 F Street, NE, Room 1580, Washington, D.C. 20549. In addition, these documents can be obtained, without charge, by contacting the Company at the following address and/or phone number:

1366 Zhongtianmen Dajie,
Xinghuo Science and Technology Park, High-tech Zone,
Taian City,
Shandong Province, 271000,
People’s Republic of China
+86-538-691-8899

The Company and certain of its directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be "participants" in the solicitation of proxies from its shareholders with respect to the proposed merger. Information regarding the persons or entities who may be considered "participants" in the solicitation of proxies will be set forth in the proxy statement and Schedule 13E-3 transaction statement relating to the proposed merger when it is filed with the SEC. Additional information regarding the interests of such potential participants will be included in the proxy statement and Schedule 13E-3 transaction statement and the other relevant documents filed with the SEC when they become available.

This announcement is neither a solicitation of proxy, an offer to purchase nor a solicitation of an offer to sell any securities and it is not a substitute for any proxy statement or other materials that may be filed or furnished with the SEC should the proposed merger proceed.

About China Customer Relations Centers, Inc.

The Company is a leading e-commerce and financial services BPO service provider in China focusing on the complex, voice-based and online-based segments of customer care services, including:

  • customer relationship management;
  • technical support;
  • sales;
  • customer retention;
  • marketing surveys; and
  • research.

The Company’s service is currently delivered in Provinces of Shandong, Jiangsu, Liaoning, Guangdong, Yunnan, Hubei, Sichuan, Hebei, Anhui, Xinjiang, Guangxi, Jiangxi, Heilongjiang, and Chongqing. More information about the Company can be found at: www.ccrc.com.

Safe Harbor Statements

Certain statements contained in this announcement may be viewed as "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. The Company undertakes no ongoing obligation, other than that imposed by law, to update these statements.

For further information, please contact

Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1-718-213-7386

PR Newswire

Microland appoints industry veteran Vivek Radhakrishnan, as Senior Vice President, North America

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BENGALURU, India, ISELIN, N.J. and LONDON, Feb. 1, 2021 — Microland, a global digital transformation company today announced the appointment of Vivek Radhakrishnan as Senior Vice President, North America to accelerate the business growth in the region. In his role, Vivek will be responsible for all Microland’s business in the USA and will be based out of Iselin, New Jersey.

Vivek joins Microland with a 25-year track record of success in driving the digital transformation agenda for clients across verticals that include Banking, Financial Services & Insurance, HealthCare & Life Sciences and Energy & Utilities. Vivek has donned several leadership positions with major IT services firms and has been responsible for key business roles that included Sales, Delivery and Solution Engineering.

Vivek is a result-oriented executive who is passionate about bringing high growth strategies to his clients and excels at managing executive governance through the operations lifecycle across complex transformation projects. He is deeply committed to driving innovation and best practices in client engagements that help them meet their strategic objectives and exceed on their business goals.

Ashish Mahadwar, President, Microland mentioned, "I am pleased to welcome Vivek to Microland’s leadership team. Vivek’s vast operating experience across multiple business roles will augment our digital transformation capabilities in the Americas thereby accelerating our growth. In the pandemic hit world, there is a significant need to deliver innovative IT infrastructure solutions that meet the new needs of our clients and help them deal with the new set of challenges. I believe Microland’s recent recognition as a Leader in the Gartner Magic Quadrant for Managed Network Services* reflects our ability to bring to bear a broad suite of innovative solutions to address these client challenges. Vivek’s experience of managing global relationships will augur well for Microland in deepening our client relationships. His tremendous experience of driving the Client’s transformation agenda will help Microland better execute on "new normal" solutions."

Commenting on his appointment Vivek Radhakrishnan said: "I am excited to be a part of Microland which has such a deep and resolute focus in the IT and IIoT infrastructure services sector. Microland over the last 3 decades, has been continuously adapting itself in adding value to the everchanging demands of its clients in a fast-changing technology and business landscape. The post pandemic world offers a tremendous growth opportunity for a company like Microland and I am looking forward to contributing towards the realization of its goals." 

Source(*) : Gartner, Magic Quadrant for Managed Network Services, Ted Corbett et al., 09 Nov 2020

Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Microland

Microland’s delivery of digital and "Making Digital Happen" allows technology to do more and intrude less. We make it easier for enterprises to adopt nextGen Digital infrastructure. We enable this using our expertise in Cloud and Data Centers, Networks, Digital Workplace, Cybersecurity and Industrial IoT—ensuring the embrace of brilliance is predictable, reliable and stable.

In the COVID impacted world, Microland is making digital happen for enterprises with a laser focus on services that are more relevant to our clients and prospects than ever before. Incorporated in 1989 and headquartered in Bengaluru, India, Microland has more than 4,500 digital specialists across offices and delivery centers in Asia, Australia, Europe, Middle East and North America.

Read more here: https://www.microland.com/

Logo: https://techent.tv/wp-content/uploads/2021/02/microland-appoints-industry-veteran-vivek-radhakrishnan-as-senior-vice-president-north-america.jpg

PR Newswire

TLScontact closes 2020 on a high with inclusion on $3.3 Billion USD U.S. State Department contract vehicle

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PARIS, Jan. 7, 2021 — TLScontact, a global visa and consular services specialist and part of the Teleperformance Group, in partnership with PAE, a global leader in delivering smart solutions to the U.S. government and its allies, has been awarded a place on a U.S. State Department contract with a potential value of up to $3.3 Billion USD over ten years.

The U.S. State Department’s Global Support Strategy 2.0 Indefinite Delivery, Indefinite Quantity (IDIQ) contract vehicle covers the provision of support services for U.S. consular operations around the world. The IDIQ, which will run for a ten-year period starting from 2020, has a maximum value of $3.3. billion USD.

In partnership with PAE, TLScontact will compete for task orders awarded through the IDIQ, to deliver overseas consular support services in 120 countries. Eighteen task orders will be awarded in total, for the provision of information services, application and appointment services, fee collection, document delivery, queue management, staffing and off-site data collection to 175 U.S. consular sections around the world.

TLScontact has extensive experience in the visa sector, having processed millions of visas each year on behalf of major governments around the world since it was founded over a decade ago.

Commenting on the announcement, Simon Grant, CEO of TLScontact, said:

"We are delighted with this decision. We look forward to supporting the United States government in delivering world-class services to U.S. visa applicants, drawing on our extensive experience in the visa sector and focus on delivering exceptional customer experience."

About TLScontact

TLScontact works with governments from around the world to provide visa and consular services on their behalf to travellers and citizens. Present in 90 countries, TLScontact operates 150 visa application centres and handles over 4 million visa applications every year. TLScontact is part of Teleperformance Group, the global leader in customer experience management.

About PAE

For 65 years, PAE has tackled the world’s toughest challenges to deliver agile and steadfast solutions to the U.S. government and its allies. With a global workforce of about 20,000 on all seven continents and in approximately 60 countries, PAE delivers a broad range of operational support services to meet the critical needs of our clients. Our headquarters is in Falls Church, Virginia. Find us online at pae.com, on Facebook, Twitter and LinkedIn.

 

Related Links :

http://tlscontact.com

PR Newswire

China Customer Relations Centers, Inc. Announces Financial Results for the First Half of 2020

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Revenues and EPS Increased by 33.4% and 106.4%, Respectively, for the First Half of 2020

TAI’AN, China, Dec. 19, 2020 — China Customer Relations Centers, Inc. (NASDAQ: CCRC) ("CCRC" or the "Company"), a leading business process outsourcing ("BPO") service provider serving internet, e-commerce, banking, and telecommunications clients in China, today announced its unaudited financial results for the six months ended June 30, 2020.

First Half of 2020 Highlights (all comparisons to prior year unless noted)

  • Revenues increased by 33.4% to $97.72 million, driven by strong demand for our business from existing BPO clients and the contribution from new clients including Huaxia Bank, Ping’An Bank, Suning Insurance, and Vipshop, among others.
  • Gross profit increased by 38.9% to $25.91 million. Gross margin was 26.5%, compared to 25.5% for the same period of the prior year.
  • Operating income increased by 89.1% to $10.06 million. Operating margin increased by 3.0 percentage point to 10.3%.
  • Net income attributable to common shareholders increased by 106.4% to $10.30 million.
  • Earnings per share was $0.56, compared to $0.27 for the same period of the prior year.        

First Half of 2020 Financial Results (Unaudited)

For the Six Months Ended June 30,

($ millions, except per share data)

2020

2019

% Change

Revenues

$97.72

$73.27

33.4%

Gross profit

$25.91

$18.65

38.9%

Gross margin

26.5%

25.5%

1.0 pp*

Operating income

$10.06

$5.32

89.1%

Operating margin

10.3%

7.3%

3.0 pp*

Net income attributable to CCRC

$10.30

$4.99

106.4%

EPS – basic and diluted

$0.56

$0.27

107.4%

*pp: percent points

Revenues

For the six months ended June 30, 2020, revenues increased by $24.45 million, or 33.4%, to $97.72 million from $73.27 million for the same period of the prior year. We continued to see strong demand for our business from existing BPO clients while adding new clients with notable additions including Huaxia Bank, Ping’An Bank, Suning Insurance, and Vipshop, among others, during the six months ended June 30, 2020.

We continued to increase our service capacity, which increased by 2,969 seats, or 13.3%, to 25,329 seats as of June 30, 2020 from 22,360 seats at the end of 2019. 

Cost of revenues

Cost of revenues consists primarily of salaries, payroll taxes and employee benefits costs of our customer service associates and other operations personnel. Cost of revenues also includes direct communications costs, rent expense, IT costs, and facilities support expenses. Cost of revenues increased by $17.19 million, or 31.5%, to $71.81 million for the six months ended June 30, 2020 from $54.62 million for the same period of the prior year. The increase in cost of revenues was in line with the increase in revenues. As a percentage of revenues, cost of revenues was 73.5% for the six months ended June 30, 2020, compared to 74.5% for the same period of the prior year.

Gross profit and gross margin

Gross profit increased by $7.26 million, or 38.9%, to $25.91 million for the six months ended June 30, 2020 from $18.65 million for the same period of the prior year. The increase in gross profit was primarily driven by increased revenues as well as COVID-19 related social security and rent relief benefits received during the pandemic. Gross margin increased by 1.0 percentage point to 26.5% for the six months ended June 30, 2020 from 25.5% for the same period of the prior year.

Selling, general and administrative expense

Selling, general and administrative ("SG&A") expenses consist primarily of sales and administrative employee-related expenses, professional fees, travel costs, research and development costs, and other corporate expenses. SG&A expenses increased by $2.52 million, or 18.9%, to $15.85 million for the six months ended June 30, 2020 from $13.33 million for the same period of the prior year. As a percentage of revenues, SG&A expenses decreased from 18.2% for the six months ended June 30, 2019 to 16.2% for the six months ended June 30, 2020.

Operating income and operating margin

Income from operations increased by $4.74 million, or 89.1%, to $10.06 million for the six months ended June 30, 2020 from $5.32 million for the same period of the prior year. The increase in operating income was related to increased gross profit which was partially offset by increased SG&A expenses. Operating margin was 10.3% for the six months ended June 30, 2020, compared to 7.3% for the same period of the prior year.

Other income

We recognized government grants, which are discretionary and unpredictable in nature, of $1.38 million during the six months ended June 30, 2020, compared to $0.56 million recognized during the same period of the prior year. Total other income, net of other expenses, increased by $1.30 million, or 184.7%, to $2.01 million for the six months ended June 30, 2020 from $0.71 million for the same period of the prior year.

Income before provision for income taxes

Income before provision for income taxes increased by $6.05 million, or 100.3%, to $12.07 million for the six months ended June 30, 2020 from $6.03 million for the same period of the prior year. The increase in income before provision for income taxes was due to increased operating income as well as government grants and other income.

Income taxes

Provision for income taxes was $1.73 million for the six months ended June 30, 2020, compared to $0.96 million for the same period of the prior year.

Net income and earnings per share

Net income increased by $5.27 million, or 104.1%, to $10.34 million for the six months ended June 30, 2020 from $5.07 million for the same period of the prior year. After deducting net income attributable to noncontrolling interest, net income attributable to common shareholders was $10.30 million, or $0.56 per basic and diluted share, for the six months ended June 30, 2020, compared to $4.99 million, or $0.27 per basic and diluted share, for the same period of the prior year.

Financial Conditions

As of June 30, 2020, the Company had cash of $28.67 million, compared to $25.33 million at December 31, 2019. Total working capital was $58.59 million as of June 30, 2020, compared to $47.50 million at the end of 2019.

Net cash provided by operating activities was $7.87 million for the six months ended June 30, 2020, compared to net cash used in operating activities of $1.34 million for the same period of the prior year. Net cash used in investing activities was $1.81 million for the six months ended June 30, 2020, compared to $1.30 million for the same period of the prior year. Net cash used in financing activities was $2.17 million for the six months ended June 30, 2020, compared to net cash provided by financing activities of $0.03 million for the same period of the prior year.  

Notice

Rounding amounts and percentages: Certain amounts and percentages included in this press release have been rounded for ease of presentation. Percentage figures included in this press release have not in all cases been calculated on the basis of such rounded figures, but on the basis of such amounts prior to rounding. For this reason, certain percentage amounts in this press release may vary from those obtained by performing the same calculations using the figures in the financial statements. In addition, certain other amounts that appear in this press release may not sum due to rounding.

About China Customer Relations Centers, Inc.

The Company is a leading BPO service provider in China focusing on the complex, voice-based and online-based segments of customer care services, including:

  •  customer relationship management;
  •  technical support;
  •  sales;
  •  customer retention;
  •  marketing surveys; and
  •  research.

The Company currently has a service capacity of approximately 25,329 seats for its call centers. More information about the Company can be found at: www.ccrc.com.

Forward-Looking Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements.  Specifically, the Company’s statements regarding its: 1) the impact of COVID-19; and 2) continued growth, shareholder returns and business outlook, are forward-looking statements. Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following:  the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the call center business process outsourcing market in China; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission.  For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

Sherry Zheng 
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1-718-213-7386

CHINA CUSTOMER RELATIONS CENTERS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

 June 30,

 December 31,

2020

2019

(Unaudited)

ASSETS

 Cash and cash equivalents

$

28,673,083

$

25,328,486

 Accounts receivable, net

47,438,549

42,606,485

 Prepayments

2,912,547

2,396,646

 Prepayment, related party

78,109

90,429

 Due from related party, current

212,218

–

 Income taxes recoverable

201,283

712,459

 Other current assets

3,911,556

3,408,704

     Total current assets

83,427,345

74,543,209

 Equity investments

3,396,904

3,446,346

 Property and equipment, net

9,788,227

10,115,782

 Deferred tax assets

239,379

242,863

 Due from related party, non-current

–

215,307

 Operating lease right-of-use assets

9,882,185

9,827,114

 Operating lease right-of-use assets – related party

92,732

172,121

     Total non-current assets

23,399,427

24,019,533

 Total assets

$

106,826,772

$

98,562,742

 LIABILITIES AND EQUITY

 Accounts payable

$

2,836,918

$

2,602,972

 Accounts payable – related parties

49,945

149,658

 Accrued liabilities and other payables

4,677,490

4,641,892

 Deferred revenue

235,293

456,331

 Wages payable

10,261,274

10,472,596

 Income taxes payable 

1,247,114

452,961

 Operating lease liabilities, current

3,369,036

3,797,069

 Operating lease liabilities – related party, current

40,670

163,995

 Short term loans

2,122,181

4,306,138

     Total current liabilities

24,839,921

27,043,612

Operating lease liabilities, non-current

7,164,013

6,068,702

     Total non-current liabilities

7,164,013

6,068,702

     Total liabilities

32,003,934

33,112,314

 Equity 

 Common shares, $0.001 par value, 100,000,000 shares authorized, 18,329,600 shares issued and outstanding as of June 30, 2020 and December 31, 2019

18,330

18,330

 Additional paid-in capital

18,485,598

15,074,267

 Retained earnings

52,891,042

47,347,781

 Statutory reserves

7,161,554

5,818,330

 Accumulated other comprehensive loss

(4,352,452)

(3,411,744)

     Total China Customer Relations Centers,

Inc. shareholders’ equity  

74,204,072

64,846,964

 Noncontrolling interest

618,766

603,464

     Total equity  

74,822,838

65,450,428

 Total liabilities and equity 

$

106,826,772

$

98,562,742

 

CHINA CUSTOMER RELATIONS CENTERS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(Unaudited)

For The Six Months Ended June 30,

2020

2019

Revenues, net

$

97,720,912

$

73,274,748

Cost of revenues

71,809,229

54,623,472

Gross profit

25,911,683

18,651,276

Operating expenses:

Selling, general & administrative expenses

15,848,053

13,329,194

Total operating expenses

15,848,053

13,329,194

Income from operations

10,063,630

5,322,082

Interest expense

(109,430)

(30,475)

Government grants

1,384,198

555,229

Other income

758,268

201,945

Other expense

(23,242)

(20,722)

Total other income

2,009,794

705,977

Income before provision for income taxes

12,073,424

6,028,059

Income tax provision

1,733,355

961,021

Net income

10,340,069

5,067,038

Less: net income attributable to noncontrolling interest

42,253

77,947

Net income attributable to China Customer Relations Centers, Inc.

$

10,297,816

$

4,989,091

Comprehensive income

Net income

$

10,340,069

$

5,067,038

Other comprehensive income (loss)

Foreign currency translation adjustment

(967,659)

(6,737)

Total Comprehensive income

9,372,410

5,060,301

Less: Comprehensive income attributable to noncontrolling interest

15,302

140,467

Comprehensive income attributable to China Customer Relations Centers, Inc.

$

9,357,108

$

4,919,834

Earnings per share attributable to China Customer Relations Centers, Inc.

Basic

$

0.56

$

0.27

Diluted

$

0.56

$

0.27

 

CHINA CUSTOMER RELATIONS CENTERS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

For The Six Months Ended June 30,

2020

2019

Cash flows from operating activities

Net income

$

10,340,069

$

5,067,038

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

Depreciation

2,445,941

2,845,134

Loss on disposal of property and equipment

226,974

68,475

Non-cash lease expense

436,327

–

Changes in assets and liabilities:

Accounts receivable

(5,471,004)

(5,493,897)

Prepayments

(1,010,254)

(917,156)

Prepayment, related party

11,079

(1,783)

Other current assets

(554,215)

(97,228)

Operating lease liabilities

135,277

(843,053)

Accounts payable

272,668

(130,978)

Accounts payable – related parties

(98,062)

(55,237)

Wages payable

(62,836)

412,029

Income taxes recoverable

503,504

207,879

Income taxes payable

804,727

(56,564)

Deferred revenue

(215,584)

(114,931)

Accrued liabilities and other payables

101,960

(2,226,854)

Net cash provided by (used in) operating activities

7,866,571

(1,337,126)

Cash flows from investing activities

Purchase of property and equipment

(1,808,750)

(1,371,577)

Proceeds from sale of property and equipment

988

28,210

Repayment from related parties

–

44,222

Net cash used in investing activities

(1,807,762)

(1,299,145)

Cash flows from financing activities

Borrowings from short-term loans

4,231,293

3,725,560

Repayment of short-term loans

(6,398,592)

(3,694,345)

Net cash provided by (used in) financing activities

(2,167,299)

31,215

Effect of exchange rate changes on cash and cash equivalents

(546,913)

(62,102)

Net change in cash and cash equivalents

3,344,597

(2,667,158)

Cash and cash equivalents, beginning of the period

25,328,486

24,419,912

Cash and cash equivalents, end of the period

$

28,673,083

$

21,752,754

Supplemental cash flow information

   Interest paid

$

109,433

$

82,531

   Income taxes paid

$

905,535

$

1,139,416

Non-cash investing and financing activities

Transfer from prepayments to property and equipment

$

457,666

$

–

Liabilities assumed in connection with purchase of property and equipment

$

–

$

17,792

 

 

PR Newswire

Microland Recognized as a Leader in the Gartner Magic Quadrant for Managed Network Services

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BENGALURU, India, ATLANTA and LONDON, Nov. 30, 2020 — Microland, a global digital transformation company announced today that it has been recognized as a Leader in the Gartner Magic Quadrant for Managed Network Services. The detailed report is available at https://www.microland.com/analyst-insights/leader-gartner-magic-quadrant.

Gartner evaluated vendors on multiple parameters. Assessment was based on two service categories of managed LAN & Managed WAN / WLAN and five management attributes of service delivery platform, service management functions, operations automation, customer experience management & professional services that are Core capabilities for Managed Network Services.

The report projects that "By 2023, 40% of enterprise buyers will demand standardized service definitions from managed network services (MNS) providers, up from 15% in 2018" and that "By 2024, to enhance agility and support for cloud applications, 60% of enterprises will have implemented SD-WAN, compared with about 30% in 2020."

According to the report "The MNS market consists of globally capable providers of MNS that provide service management functions for the operation of enterprise networks." "The providers in this market are either Network Service Providers (NSPs) or non-NSPs, as both types are common in this market." According to another report, "Critical Capabilities for Managed Network Services", "The providers in this research are either NSPs or non-NSPs, as both types are common in this market and have also met the requirement for delivering services on a global basis, beyond their own home country."

Pradeep Kar, Founder, Chairman and Managing Director commented: "We believe Microland’s recognition in Gartner’s Magic Quadrant for Managed Network Services is a huge validation of our resolute focus in being the IT Infrastructure Partner of Choice to our customers for 31 years, and Microland has been in the forefront of providing Managed Network Services from its inception. I believe this recognition is a demonstration of the depth and breadth of our services and driving continuous innovation. We dedicate this recognition to our customers who’ve always inspired us to raise the bar of success."

The report outlines, "For Managed Network Services (MNS), automation is the key to the efficiency and quality of the service delivery platform at scale. Importantly, automation is also critical to maintaining service delivery quality and positive customer experience from provider MNS offerings."

Reacting to the noteworthy mention, Robert Wysocki, Senior Vice President & Global Client Solutions Leader – Networks & Cybersecurity noted: "We believe this is a recognition of our ability to drive superlative customer experiences through continued investments in innovative solutions. One of our key investment areas has been in an automated service delivery platform—the Network Assurance Platform that helps in proactive management of the complete lifecycle of network infrastructure management."

Mahesh Nagaraj, Chief Marketing Officer added, "We are honored for Gartner to have recognized us as a Leader in the Magic Quadrant for Managed Network Services. Our belief that technology works best when you notice it least, is the way we’ve approached our customer engagements and every plan, intervention and innovation is focused on guaranteeing that promise. Microland’s suite of proprietary solutions have been catalysts in enabling our customers to accelerate their transformation journey and ‘making digital happen."

Microland has customers across multiple sectors including BFSI, Retail, Hi-tech, Pharma & Lifesciences and has been providing Managed Network Services and Network Transformation Services globally across 170 countries. Microland delivers Managed Network Services to its customers through several NOCs operating 24 x 7 underpinned by its homegrown IP, the Network Assurance Platform. Microland’s Network offering suite includes managing the network infrastructure across the whole spectrum of LAN, WLAN, WAN and data center with significant expertise in emerging technologies including software defined networks (SDLAN, SDWAN), Wi-Fi 6.0 and 5G. Microland has established partnerships with several technology providers including Cisco, Fortinet, Velocloud by VMware, Versa Networks, among others.  

Source:

Gartner, Magic Quadrant for Managed Network Services, Ted Corbett et al., 9 Nov 2020

Gartner, Critical Capabilities for Managed Network Services, Danellie Young et al., 10 November 2020

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Microland

Microland’s delivery of digital and "Making Digital Happen" allows technology to do more and intrude less. We make it easier for enterprises to adopt nextGen Digital infrastructure. We enable this using our expertise in Cloud and Data Centers, Networks, Digital Workplace, Cybersecurity and Industrial IoT— ensuring the embrace of brilliance is predictable, reliable and stable.

In the COVID impacted world, Microland is making digital happen for enterprises with a laser focus on services that are more relevant to our clients and prospects than ever before. Incorporated in 1989 and headquartered in Bengaluru, India, Microland has more than 4,500 digital specialists across offices and delivery centers in Asia, Australia, Europe, Middle East and North America.

Read more here: https://www.microland.com/

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PR Newswire

Laiye and RAAS PAL Form Partnership to Drive the Industry-wide Automation

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BANGKOK, Oct. 23, 2020 — Laiye, the leading Robotic Process Automation (RPA) platform provider in Asia, and RAAS PAL, a robotics and AIoT solution provider in Thailand, announced the partnership to provide the industry-wide high-quality automation services in Thailand.

Laiye initially delivered some significant projects including Automated Human Resources Outsourcing (HRO) and built the Virtual Office to drive brand engagement and boost RAAS PAL’s productivity.

Technology is completely changing the way we work. In the newly completed projects, Laiye not only automated parts of RAAS PAL’s online recruitment processes but also delivered a virtual office solution that includes many robot employees performing different tasks, like Human Resources Outsourcing, Financial Services Outsourcing, etc. Laiye aims to drive the promise of the fully automated enterprise for the most strategic companies.

"This first step in the adoption of RPA in our group processes has been extremely meaningful for us. We particularly liked the fact that we could start from small to scale. Besides the short learning curve, what touches us even more was Laiye UiBot’s services," said CEO of RAAS PAL. 

This cooperation is expected to deliver automation value to clients of all industries, with those in regulated industries such as finance, banking, manufacturing, human resource, healthcare and more. Furthermore, entrepreneurs see a lot of potential in automating the processes which bring innovative benefits to various aspects of enterprise business.

About Laiye

Founded in 2015, Laiye is a forward-looking company focused on offering automation solutions to a wide range of users from individuals to enterprises. Laiye is a pioneering company in Robotic Process Automation (RPA) and artificial intelligence with more than 19-year experience. Laiye’s mission is to automate all rule-based, repetitive, high-volume digital tasks for you and your business to increase creativity and productivity.

Additional Resources
Follow Laiye on LinkedIn, Facebook, and Twitter, or contact the team at Globalteam@laiye.com.

 

PR Newswire

Mindtree reports second quarter FY21 results

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– Broad-based revenue growth of 3.1% q-o-q, in USD terms

– EBITDA margin at 19.6% and PAT margin at 13.2%

BANGALORE, India and WARREN, N.J., Oct. 15, 2020 — Mindtree, a global technology services and Digital transformation company, guiding its clients to achieve faster business outcomes, announced its consolidated results today for the second quarter ended September 30, 2020 as approved by its board of directors.

"I am pleased and encouraged with our performance in delivering a broad-based growth with revenue of $261M and EBITDA of 19.6% for the quarter. We appreciate the trust from our clients and thank our employees for their unrelenting dedication and collaborative spirit during these unprecedented times. Our approach of Redefining Possibilities in the new normal for businesses enabled us to deliver a balanced H1 performance. This has helped to reinforce confidence on our strategy to build on existing strengths and drive profitable growth by being the business transformation partner for our clients, developing future ready talent and delivering value to all our stakeholders," said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree.

Key financial highlights:                                       

Quarter ended September 30, 2020

  • In USD:
    • Revenue at $261 million (growth of 3.1% q-o-q / decline of 3.7% y-o-y)
    • Net profit at $34.3 million (growth of 21.5% q-o-q / 79.2% y-o-y)
  • In INR:
    • Revenue at ₹19,260 million (growth of 0.9% q-o-q / 0.6% y-o-y)
    • Net profit at ₹2,537 million (growth of 19.1% q-o-q / 87.9% y-o-y)

Other highlights:

  • Clients:
    • 283 active clients as of September 30, 2020
    • 8 new clients added during the quarter
    • $10 million clients grew by 1, total 24
  • People:
    • 21,827 Mindtree Minds as of September 30, 2020
    • Trailing 12 months attrition is 13.8%
  • Q2 deal wins with leading global clients:
    • For a global CPG client, Mindtree has been chosen as a strategic partner for digital transformation. Mindtree will provide managed services to maintain digital platforms, create digital assets, and provide insights for real-time analytics for timely decision-making process
    • Mindtree expanded its engagement with a leading national bank in the U.S. to be its strategic application managed services partner to streamline its processes, manage and optimize technology applications, and accelerate its business transformation journey
    • Mindtree won a multi-year contract with a Swedish medical solutions company to provide SAP application support and will migrate the customer’s on premise SAP to Microsoft Azure to enable platform-led DevSecOps operating model
    • For a UK’s leading consumer electronics retailer, Mindtree will deliver the End User services by using Voice bots , Augmented reality, Virtual reality ( AR/VR ) capabilities to support remote stores and employees
  • Recognition:
    • Mindtree Recognized as an Expert Managed Service Provider for Microsoft Azure that signifies Mindtree’s expertise in cloud services
    • A digital case study by Mindtree has been chosen as one of the top 25 case studies in ‘ISG Digital Case Study Book-2020" for a leading online grocery store on "Delivering on the Promise of Data"
    • Mindtree has been recognized a leader in the Managed Services Archetype in ISG Provider Lens Next-Gen Private/Hybrid Cloud – Data Center Services & Solutions 2020 Report
    • Mindtree recognized a leader in UK & US for SAP S/4HANA System Transformation, Managed Application Services for SAP ERP and SAP Leonardo Services in ISG Provider Lens SAP HANA and Leonardo Ecosystem Partners (Mid-Market) 2020 Report
  • Announcements
    • The Board of Directors at its meeting held on October 15, 2020 have declared an interim dividend of 75% ( ₹ 7.5 per equity share of par value ₹ 10 each)

About Mindtree

Mindtree (NSE: MINDTREE) is a global technology consulting and services company, helping enterprises marry scale with agility to achieve competitive advantage. "Born digital," in 1999 and now a Larsen & Toubro Group Company, Mindtree applies its deep domain knowledge to 280+ enterprise client engagements to break down silos, make sense of digital complexity and bring new initiatives to market faster. We enable IT to move at the speed of business, leveraging emerging technologies and the efficiencies of Continuous Delivery to spur business innovation. Operating in more than 15 countries across the world, we’re consistently regarded as one of the best places to work, embodied every day by our winning culture made up of over 21,000 entrepreneurial, collaborative and dedicated "Mindtree Minds".

To learn more about us, visit www.mindtree.com or follow us @Mindtree_Ltd

Safe harbour

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. The conditions caused by the COVID-19 pandemic could decrease customer’s technology spending, affecting  demand for our  services, delaying prospective customers’ purchasing decisions, and impacting our ability to provide on-site consulting services; all of which could adversely affect our future revenue, margin and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

For more information, contact:
INDIA
Tanuja Singh
Mindtree 
+91 9741000266
Tanuja.Singh@mindtree.com                                                         

Mindtree Limited, Global Village, RVCE Post, Mysore Road, Bangalore-560059;
CIN: L72200KA1999PLC025564; Phone: + 91 80 6706 4000; Fax: +91 80 6706 4100;
E-mail: info@mindtree.com/investors@mindtree.com; Website: www.mindtree.com

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PR Newswire

Infosys Named a Global Leader in Digital Process Automation Services

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BENGALURU, India, Oct. 8, 2020 — Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, announced today that Forrester has named Infosys a global leader in Digital Process Automation (DPA) Services, in its recent report entitled "The Forrester Wave™: Digital Process Automation Service Providers, Q3 2020". Infosys ranked highest in the "current offering" category and among the top two in the "strategy" category. The report notes Infosys’ long history in process automation and a deep, impressive expertise in executing large and sophisticated projects across North America, Europe, and Asia.

For the report, Forrester assessed 13 service providers through its 22-criteria evaluation of DPA services. The report recognizes Infosys for its investments in unique IP to ease the development experience on DPA platforms and strengths in process discovery, modeling, and documentation. The report also acknowledges Infosys’ mature customer experience.

Dinesh Rao, EVP and Global Head – Enterprise Application Services, Infosys, said, "We see global enterprises moving towards a cloud economy that makes them adaptable, flexible and interoperable. Our innovative digital process automation offerings, part of Infosys cobalt, help enterprises accelerate this cloud journey. Our FLUID DPA strategy, a core differentiator together with our digital capabilities, including low code application development, deliver perceptive experiences and responsive business value chains. This helps organizations in accelerating their speed to market and evolving towards becoming a resilient live enterprise. Being recognized as a Leader by Forrester validates for us the excellence of our capabilities and investments made in this space."

Rob Koplowitz, Vice President, Principal Analyst Serving Application Development & Delivery Professionals and John Bratincevic, Senior Analyst at Forrester, wrote in the report, "Infosys excels in areas related to wide technology deployment. Process discovery, modeling, and documentation are all strengths — with extensive partnerships to match. Its work enabling citizen developers is also industry-leading, with investments in unique IP to ease the development experience on DPA platforms and provide in-context feedback through virtual coaches. Infosys’ customer experience methodology is also very mature, and reference client feedback indicated strong customer experience results. Infosys is a good choice when you have a wide range of sophisticated DPA needs that require deep technical and process expertise."

A complimentary copy of the Forrester Wave for Digital Process Automation Services, Q3 2020 report can be accessed here – https://www.infosys.com/services/digital-process-automation/insights/positioned-leader-forrester-wave-2020.html

Related Reading – https://www.infosys.com/services/digital-process-automation/overview.html 

About Infosys

Infosys is a global leader in next-generation digital services and consulting. We enable clients in 46 countries to navigate their digital transformation. With nearly four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2020. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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PR Newswire

Infosys to Acquire Product Design and Development firm, Kaleidoscope Innovation

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Expands engineering services portfolio by strengthening presence in Medical devices, Consumer and Industrial markets across US

BENGALURU, India and CINCINNATI, Sept. 4, 2020 — Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a definitive agreement to acquire Kaleidoscope Innovation, a full-spectrum product design, development and insights firm innovating across medical, consumer and industrial markets, bolstering capabilities in the design of smart products. This acquisition demonstrates Infosys’ commitment to innovate for its clients, and make a meaningful impact on human lives by combining cutting-edge technologies and experiences to revolutionize patient care, treatment, diagnostics and consumer health across the world.

Kaleidoscope Innovation brings to Infosys a diverse talent pool with extensive knowledge of design and engineering. The company leverages a deep understanding of clinical environments, strong product development capabilities across domains, and a consultancy-style approach addressing human factors, product design, UI/UX design, research & insight, development and visualization. It serves a marquee and diversified customer base with state of the art, in-house labs, 3D design environments and customer experience centers. Kaleidoscope designs microsurgical instruments, devices used in minimally invasive surgery, drug delivery devices for ophthalmic therapies and user-centric wearables. It also offers usability testing in support of regulatory submissions, including the delivery mechanism for aortic stents.

Ravi Kumar, President, Infosys, said, "This acquisition further strengthens our digital offerings at the intersection of new software technologies and medical devices – a sector that is expected to witness significant investments and consumerization in the post-COVID era. Our clients will benefit from the combination of Kaleidoscope’s strong upstream offerings of product innovation and design, and Infosys’ stack of product engineering, validation and commercialisation services at a global scale. We are excited to welcome Kaleidoscope Innovation and its leadership team into the Infosys family, as part of Infosys Engineering Services portfolio."

Nitesh Bansal, SVP & Global Head of Engineering, Infosys, said, "Device engineering for both the consumer and medical industries has been a critical success parameter for our clients. The addition of upstream concept design and human factors engineering, through this acquisition not only provides us end-to-end capability, but also creates an engagement engine dedicated towards innovation and growth in this sector."

Matt Kornau, CEO & Co-Founder, Kaleidoscope Innovation said, "We are enthusiastic about our exciting new partnership with Infosys. It allows us to scale quickly and bring expanded offerings in AI, Analytics, and Digital Infrastructure to our clients. Kaleidoscope has always valued the ability to enhance people’s lives and their outcomes through innovation. We feel Infosys shares these same values and will open new avenues for our client partners, and our staff, to pursue larger opportunities together.  We will remain dedicated to serving as good partners to other companies, large and small, as we continue to meet our mission."

Bill Taylor, Co-Founder, Kaleidoscope Innovation added, "Infosys provides an exciting platform for us to extend our relationship with our Business Partners to address the productization of solutions they have been asking us to deliver. Having the technical prowess and bandwidth to offer solutions that address manufacturability and lifecycle management will benefit all parties. We can now offer them the scale needed for both front end innovation and back end implementation and sustainability"

The acquisition is expected to close during the second quarter of fiscal 2021, subject to customary closing conditions.

About Kaleidoscope Innovation

Kaleidoscope Innovation is a full-service product development firm innovating across medical, consumer and industrial markets. For over 30 years, clients have partnered with Kaleidoscope to improve the human experience. Kaleidoscope offers both consultancy-style and onsite services, across a full breadth of disciplines to meet their client’s needs where needed, including insights & human factors, medical affairs, industrial design & user experience, engineering, visualization and software development. For more information about Kaleidoscope Innovation, please visit www.kascope.com

About Infosys

Infosys is a global leader in next-generation digital services and consulting. We enable clients in 46 countries to navigate their digital transformation. With nearly four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2020. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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PR Newswire

SP Madrid enables 100+ Contact Center Agents to Work Remotely using Ameyo

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Ensures business continuity during COVID-19 in less than 2 days with a dramatic increase in call connect rates

MANILA, Philippines, Aug. 19, 2020 — Ameyo, an omnichannel customer engagement platform, today announced that it has enabled SP Madrid, a BPO Collections Leader in Philippines, move its 100+ agents to Remote Contact Center Solutions in less than 2 days, overcoming the challenge of low internet connectivity and bandwidth issues.

SP Madrid was looking for a solution that could help them with a customer engagement process with remote access to ensure business continuity.

With a secure VPN connection, Ameyo helped SP Madrid move its contact center agents to a remote working environment without any hassle. Ameyo’s all-in-one Remote Contact Center Solution backed up with automated dialer, built-in CRM, and comprehensive remote monitoring dashboards ensured that there is no fragmented data. Ameyo’s solution assists SP Madrid’s call center agents with a unified customer interface which allows easy access to all customer information in one place, thus, no information is missed.

Additionally, customer service supervisors, operation heads, and managers at SP Madrid got better hold on business operations and were able to measure and track agents’ performance with quantifiable metrics.

Speaking of the transition to Remote Solutions, Ian Madrid, Co-founder at SP Madrid, says, "Ameyo assisted us to enhance our customer experience with advanced remote contact center capabilities. Throughout the years, Ameyo has helped us enrich our collections process and we have gotten more than what we have paid for."

Sachin Bhatia, Co-founder and Global Sales & Marketing Head at Ameyo, says, "Contact centers are playing a pivotal role in post-COVID-19 times, as they provide the last line of human to human interaction between brands and consumers. Remote contact centers will enable collections brands like SP Madrid to work remotely and increase business productivity."

Ameyo’s Remote-first Contact Center Solution ensures remote IT governance, enables enterprises to run contact center operations with trust and ensures a smooth onboarding and collaboration. 

About SP Madrid

SP Madrid is a reckoned collections company based in the Philippines. Founded in 2008, the company is backed-up with most advanced collection technology and comprehensive DPA data privacy compliance. 

About Ameyo

Ameyo is an Omnichannel customer engagement platform that helps businesses go remote with its virtual contact center solutions and help them streamline their customer service, and collection processes. Know more at www.ameyo.com

Media Contact:
Pushkaraj Phule
pushkarajphule@ameyo.com  
+91-9870039596

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