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PR Newswire

RattanIndia Finance Wins the Celent Model Bank Award 2020 for Retail Lending Powered by Nucleus FinnOne Neo

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NEW DELHI, April 22, 2020 /PRNewswire/ — Celent, the world’s leading research, advisory and consulting firm focused on financial services technology, has named RattanIndia Finance as the winner of The Celent Model Bank Award 2020 for Retail Lending, powered by FinnOne Neo from Nucleus Software.

Celent Model Bank Awards recognize the best practices of technology usage in banking. RattanIndia Finance deployed FinnOne Neo in the cloud, disrupting the consumer finance market with a superior digital experience, speedy approvals and the rapid launch of innovative loan products. With FinnOne Neo, RattanIndia reduced the time taken to bring new products to market by 50%, decreased the IT resource count by 75% and lowered the cost of ownership by 90%. They recorded rapid business growth and became the first lender to offer loans for electric bikes in India

Mr. Craig Focardi (Senior Analyst, Celent) said, “Although the growth of cloud computing has accelerated in recent years, the movement of mission-critical core lending and banking solutions has not. RattanIndia Finance’s successful transition of its entire end-to-end lending platform for retail and corporate banking is a leading-edge example of the future potential for public cloud, which is why RattanIndia Finance is worthy of Celent’s Model Bank 2020 Award for retail lending.”

Mr. Harvinder Gandhi (Head of Technology, RattanIndia Finance) commented, “We are really excited to win the Celent Model Bank Award, powered by FinnOne Neo. This project helped us differentiate as an agile, digital and customer focused lender. We are delighted that the project confirmed our belief that technology powers business growth and helps us deliver a superior customer experience. The results that we have seen are truly remarkable.”

Mr. R. P. Singh (CEO, Nucleus Software) said, “Our heartiest congratulations to RattanIndia Finance for wining this prestigious Model Bank Award from Celent. RattanIndia Finance is an innovative company and we are proud to support them in their goal to provide a faster, easier and more customer centric experience. This achievement is a further testament to the confidence of global financial services industry in the power, reliability and robustness of our solutions.”

About: Nucleus Software. 

Media Relations:  

Rashmi Joshi
rashmi.joshi@nucleussoftware.com  
+91-9560-694654

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PR Newswire

Arcadier: Building free COVID-19 related marketplace to support community

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SINGAPORE, April 22, 2020 /PRNewswire/ — The COVID-19 pandemic has changed the way work and life happens. Today, nearly 3 billion people around the world are under some form of lockdown. Communities and community-based businesses have been hit especially hard by the Pandemic as face-to-face interactions have come to a standstill globally. Considering the pandemic’s impact, Arcadier, the world’s fastest-growing marketplace builder, is announcing an initiative to support the free creation of new marketplaces offering help or relief to those impacted by COVID-19.

Free COVID-19 related Arcadier Marketplace for your community
Free COVID-19 related Arcadier Marketplace for your community

Over the last few weeks, Arcadier has been receiving numerous requests from dedicated individuals and organisations intending to build marketplaces to aid their communities during this period of uncertainty. The free use of the Arcadier’s marketplace DIY SaaS solutions will be specifically offered to initiatives helping individuals or businesses affected by the Coronavirus crisis, especially if the intention of the marketplace is to assist in coordinating finite resources better and where profit making is not the principal objective.

Chief Operating Officer of Arcadier, Kenneth Low, said, “We recognize that the unprecedented global health crisis has made stemming the tide of infections while caring for the vulnerable a top priority, and we see the use of online marketplace technology as an efficient way to assist with the matching of societal resources to needs in every community. As such, we have decided to make our platform freely available to individuals or organizations with that vision to help their neighbourhoods or small local businesses tide through this period by supporting them with digitization.”

Arcadier provides ready marketplace solutions that suit different purposes, ranging from buying and selling items to scheduling and booking time-slots for rental or services. Consequently, participants can build community marketplaces to share medical or home supplies, offer volunteer services to support neighbours or even create an online marketplace for food takeaways from local restaurants affected by Coronavirus lockdown measures.

The sponsorship of a free marketplace for those affected by COVID-19 program is open to anyone around the world. However, to ensure that only genuine initiatives will benefit from this offer, Arcadier will review and approve every applicant seeking to participate in this free marketplace Covid-19 programme as well as monitoring their progress. This programme will run till 31 July 2020.

More information about how to build a free platform for those affected by Covid-19 and the eligibility criteria of the programme, please follow the link here. Arcadier looks forward to partnering with companies on coronavirus-fighting initiatives.

About Arcadier

https://www.arcadier.com

Arcadier is the world’s fastest-growing online marketplace builder and is the recognized global leader of multi-vendor eCommerce marketplace technology with users from more than 170 countries. Founded in 2013 in Singapore by senior PayPal executives, it has offices in 5 countries including Singapore (HQ), Australia, Philippines the United States and the United Kingdom. Arcadier enables Large Enterprises, SMBs, Governments and Start-Ups to build their own white-labelled marketplaces efficiently and cost-effectively. Arcadier’s platform supports various eCommerce models including B2B, B2C, P2P, Service & Rental across industry verticals such as retail, consumer goods, commodities, wholesale, manufacturing and services. Recently Arcadier launched its Arcadier Enterprise offering focused on enabling large corporations and multi-brand retailers to create complex marketplace experiences for their businesses.

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PR Newswire

TAL’s AI Team Wins Championship Award at a Top International Academic Contest

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BEIJING, April 22, 2020 /PRNewswire/ — The international Conference of Computer Vision and Pattern Recognition (CVPR2020), one of the top Artificial Intelligence academic conference, has recently revealed the grant challenge results in a series of categories. TAL’s AI Lab has won the EmotioNet Challenge, an award for human facial expression recognition, surpassing 69 other teams from around the world.

Demonstrating China’s AI competitiveness to world by winning the top-notch AI academic conference

Known as the Olympic Games of computer vision field, CVPR will be held in Seattle, Washington, USA in June 2020. The EmotioNet Challenge is one of the most revered academic competitions in the field of human facial expression recognition. The research methods used to tackle this challenge have been published on CVPR and ICCV (International Conference of Computer Vision), two of the top three computer vision conferences in the world. Over the years, the event has attracted a large number of teams from top universities and companies worldwide.

EmotioNet 2020, sponsored by CVPR and Ohio State University, has attracted teams from Alibaba, China University of Science and Technology, Chinese Academy of Sciences, Otto-von-Guericke-Universität Magdeburg, Nanyang Technological University, and other organizations. After fierce competition, TAL’s AI Lab won the championship, demonstrating TAL’s growing AI technology capabilities to the world.

In the competition, TAL’s AI Lab has proposed a solution to the inconsistencies of overfitting during multitask learning in human facial expression recognition, which has significantly improved the accuracy and the F-score of the model. It is one of the many AI abilities that TAL has been able to develop and applied to multiple TAL products and services. Currently, this technology is also made available to the entire education industry through TAL’s Open AI Platform.

Enlarging investments in the AI technology R&D for wider applications

Applying AI technology to the education products is often challenging due to the lack of data covering all forms of educational products and services.

Over the past decade, TAL has accumulated a massive amount of data and has continued exploring various education settings such as face-to-face (in-person), online one-to-one, online dual-teacher, and other methods of teaching. Understanding the changing demands with data generated from various types of education products, TAL is in a good position to further develop “AI + Education” technologies for students. The AI models improve as the types of TAL education products continue to grow.

TAL education group consistently steps up its efforts in research and engineering development. The AI Lab, the Brain Science Lab, the Silicon Valley R&D Center, the Big Data Center, and the Postdoctoral Workstation were all founded to better fulfill TAL’s mission, “Making education better with love, science, and technology”.

TAL keeps breaking new ground in the research and development of cutting-edge technologies. Last November, Hurun Research Institute listed its AI Intellectual Property in China 2019. A list comparing over 500 Chinese AI Companies based on their comprehensive development, innovation abilities, and technology maturity. TAL is ranked among the top 10. TAL also attended the AAAI Conference on Artificial Intelligence 2020, in February of this year. With the team’s two latest research findings, TAL was invited to take the lead in organizing two symposiums on “smart education”. 

TAL has developed more than 100 AI capabilities for education in eight categories including graphics, voice, data mining, and natural language processing, etc. It has created more than 10 AI solutions based on different education scenarios, covering all aspects of teaching, learning, testing, exercises, and assessment. TAL has also developed many unique and/or leading abilities throughout the process of building its own AI platforms. This includes: containing infrastructure for storage, annotation, training, and online services.  

Building a new diversified ecosystem for smart education in China

Education AI has been growing vigorously in recent years. As a leading company in the education sector, TAL is actively promoting the joint development of “AI+Education” and the advancement of education sector with its partners.

In August 2019, the Ministry of Science and Technology of China approved TAL to build the National Smart Education Platform for Open Innovation of Next Generation AI. This initiative means that TAL has officially become the “national team” behind exploring “Education+AI”. The platform is expected to support the thorough integration of AI and education, letting smart education empower all stakeholders and improve teaching efficiency, management, and the opening-up of schools.

The National Smart Education Platform for Open Innovation of Next Generation AI will concentrate on learners, enhancing core links between education and education services step by step. By promoting supply-side reform of the education service sector, the platform strives to both increase productivity and cut the cost among education. Through breakthroughs, distribution of education resources, and realizing data-driven individualized teaching at scale, it will bring changes to educational concepts and models. Meanwhile, the R&D threshold for small to medium enterprises, as well as the risk in commercialization for education institutions, will be lowered. The enthusiasm for innovation and entrepreneurship in smart education will be unleashed.

TAL has technological partnerships with Tsinghua University, Institute of Computing Technology of Chinese Academy of Sciences, Beijing Normal University and Stanford University, jointly contributing to an open tech ecosystem ranging across both public and private institutions.

TAL Education Group expresses its aspiration to work with all stakeholders to meet learners’ core needs, solving major issues in the application of smart education, and furthering the development of education industry. Focusing on broad AI technologies and platform-based services, TAL wishes to establish an AI open innovation platform for smart education that features independent and controllable basic software and hardware. An open exchange of general technology, data, effective application, and a vibrant innovation ecosystem; this will eventually create a new and diversified smart education ecosystem. A symbiotic environment that is made to cover all methods and scenarios within education.

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PR Newswire

Infortrend’s Scale-Out NAS to support SMB Multichannel

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TAIPEI, April 21, 2020 /PRNewswire/ — Infortrend® Technology, Inc. (TWSE: 2495), the industry-leading enterprise storage provider, adopts SMB Multichannel feature for its scale-out NAS EonStor CS. With support of SMB Multichannel, it is now possible to establish multiple simultaneous network connections between EonStor CS cluster and its clients over aggregated network interface cards (NICs). It increases bandwidth, storage performance, and fault tolerance for performance-demanding applications, such as 4K video editing, broadcasting, or real-time streaming in M&E industry and HPC.

EonStor CS is a scale-out NAS expandable up to 144 nodes in a cluster with a total of over 100 GBps throughput and 100PB capacity. By enabling SMB Multichannel, an SMB 3.0 client can access data on CS storage via multiple available paths, which compared to one path only, facilitates aggregation of network bandwidth and increases network fault tolerance.

Importantly, SMB Multichannel feature provides higher bandwidth and higher system performance, which is proved to be especially useful for performance demanding workloads. It aggregates multiple network interfaces and performs data read or write processes simultaneously utilizing multiple channels, which helps to noticeably increase performance. Moreover, if any failure occurs, it is automatically detected, and the data communication processes are moved to a normally functioning channel so that there is no connection disruption and no impact on system availability.

“With support of SMB Multichannel, our EonStor CS scale-out NAS can ensure not only higher performance, but also continuous network service for time-sensitive and high availability applications. For example, in M&E industry, for editing video footages with resolution 4K and above, high bandwidth is required. By using SMB Multichannel connected through multiple network interfaces, users are able to yield benefits of smooth workflow with provided bandwidth and experience no downtime while collaborating on their projects,” said Frank Lee, Senior Director of Product Planning.

Learn more about EonStor CS scale-out NAS

About Infortrend

Infortrend (TWSE: 2495) has been developing and manufacturing storage solutions since 1993. With a strong emphasis on in-house design, testing, and manufacturing, Infortrend storage delivers performance and scalability with the latest standards, user friendly data services, personal after-sales support, and unrivaled value. For more information, please visit www.infortrend.com

Infortrend® and EonStor® are trademarks or registered trademarks of Infortrend Technology, Inc.; other trademarks are the property of their respective owners.

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Source: Infortrend Technology, Inc.

PR Newswire

Y Soft Unveils Premium 3D Lesson Plans and Special EDU Bundle to Help Educators Use 3D Printing in STEAM Curriculum

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— New exclusive be3D Academy lesson plans available only to YSoft be3D eDee customers

BRNO, Czech Republic and DALLAS, April 21, 2020 /PRNewswire/ — Y Soft Corporation, the leading enterprise workflow solutions provider, today announced premium 3D lessons in YSoft be3D Academy and a new 3D/2D EDU bundle designed to save schools money by combining their regular 2D print management needs with Y Soft 3D printers. 

3D printing in education is a growing market with more and more educational institutions adopting fleets of 3D printers to help STEAM classes illustrate difficult concepts, enhance hands-on interactive learning, and drive class engagement. To help support those efforts, Y Soft worked with educators to develop YSoft be3D Academy. The online library of 3D curriculum features comprehensive lesson plans, guides, videos, models, and presentations. It provides everything needed to conduct a STEAM subject lesson using 3D printing. A model database provides additional models that teachers can use to build their own lessons

While standard be3D Academy 3D lessons are available for anyone to use for free, Y Soft now provides premium 3D lesson plans exclusively for all eDee customers, including those that purchase the new EDU bundle. Premium lessons have the same rich resources as standard content, but only eDee customers can access them. Premium lessons are available today, and more will be added quarterly.

“These premium lessons, and the ones that follow, demonstrate our resolve to provide educators with easy to use and easy to follow lesson plans that help keep students engaged whether in a classroom or even at home,” commented Elke Heiss, Chief Marketing Officer, Y Soft. She added, “We’ve learned from schools that these lessons have helped teachers quickly ramp up their home learning classes during the current work/study at home situation caused by COVID-19.”

EDU Bundle

Y Soft also announced a new affordable education-focused EDU bundle that includes everything a school needs to start leveraging 3D printing in their classrooms. With scarce resources, educators need to be efficient in their print services offerings while finding new ways to engage students in learning. The EDU bundle combines print management for a school’s 2D printers and 3D printers, accomplished through YSoft SafeQ, the company’s print management and document capture software. Combining their print management options and leveraging available grant monies allows schools to justify the investment into 3D printing.

The EDU bundle includes: 

  • YSoft be3D eDee printer, a desktop 3D printer with an enclosed chassis for safety 
  • Three years of free access to premium 3D lessons in YSoft be3D Academy
  • DeeControl layering software, easy-to-use PC/Mac application for 3D print preparation 
  • Intelligent software including:
    • YSoft SafeQ for secure access, the ability to print at any 2D or eDee printer and usage reports 
    • Notifications and pictures during print progress, job completion alerts 
  • Beginner’s Accessory Kit
  • Student/faculty ID Card Reader 
  • Filaments: 3000 grams each of black, white and orange 

Ms. Heiss stated, “This bundle helps schools create an opportunity for students to excel in STEAM subjects and ready them for their future careers at an affordable cost. When a school chooses the be3D eDee solution, they get YSoft SafeQ to manage their 2D and 3D print needs, a unique value only Y Soft can offer.”

The education bundle also includes 3D print training, multi-year support, and installation. Full details can be found at https://be3dacademy.ysoft.com/en/3d-print-solution.

About Y Soft 
Y Soft develops intelligent Digital Transformation office solutions for enterprise, SMB, and Education that empower employees to be more productive and creative. Our YSoft SafeQ® workflow solutions platform enables businesses to manage, optimize and secure their print and digital processes and workflows. Our 3D print solutions are focused in the Education sector where they provide unique ease of use and safety benefits, while utilizing YSoft SafeQ software for seamless 3D print management.  

Founded in 2000, the company is headquartered in Brno, Czech Republic, with offices in North and Latin America, Europe and Middle East/Africa (EMEA) and the Asia Pacific region (APAC). For more information, please visit www.ysoft.com. 

Global:
Steven Knuff
Senior Manager, Global PR and Analyst Relations
steven.knuff@ysoft.com  
+1 512 810-3207

Czech Republic:
Jiří Kocourek
jiri@parco.cz  
+420 775 630 41

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PR Newswire

Sogou Inc. Files its Annual Report on Form 20-F

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BEIJING, April 21, 2020 /PRNewswire/ — Sogou Inc. (NYSE: SOGO) (“Sogou” or “the Company”), an innovator in search and a leader in China’s internet industry, today announced that the Company filed with the Securities and Exchange Commission its Annual Report on Form 20-F for the fiscal year ended December 31, 2019. The Annual Report is available on the Company’s investor relations website at http://ir.sogou.com/.

The Company will provide a hard copy of the Annual Report containing the audited consolidated financial statements of the Company, free of charge, to a shareholder or holder of the Company’s American depositary shares upon written request.   

About Sogou

Sogou Inc. (NYSE: SOGO) is an innovator in search and a leader in China’s internet industry. With a mission to make it easy to communicate and get information, Sogou has grown to become the second largest search engine by mobile queries and the fourth largest internet company by MAU in China. Sogou has a wide range of innovative products and services including the Sogou Input Method, which is the largest Chinese language input software for both mobile and PC. Sogou is also at the forefront of AI development and has made significant breakthroughs in voice and image technologies, machine translation, and Q&A, which have been successfully integrated into our products and services.

For investor enquiries, please contact:

Jessie Zheng
Sogou Investor Relations
Tel: +86 10 5689-8068
Email: ir@sogou-inc.com 

For media enquiries, please contact:

Rachael Layfield
Brunswick Group
Tel: +86 10 5960-8600
Email: sogou@brunswickgroup.com

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Source: Sogou Inc.

PR Newswire

Audiens Bolsters Its Innovative Customer Data Platform with $8M Strategic Investment from Tech Giant NHN

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The Audiens Customer Data Platform (CDP) gives digital marketers the ability to instantly personalize their data on their terms, get more out of their customer data and cut the waste from their advertising spend

SAN JOSE, California and CAMBRIDGE, United Kingdom, April 21, 2020 /PRNewswire/ — Audiens, a global independent customer data platform and audience management tool, has received an $8M (£6.5 M) cash investment from South Korea’s NHN Corp. This is the first investment in a European technology company for NHN. The investment accelerates Audiens international expansion plans and strengthens the team in key European markets.

In addition to enriching the Audiens CDP product, the investment opens a new channel for NHN data technology to reach global customers beyond South Korea.

Jonathan Brech, previously Chief Commercial Officer at Audiens, has been appointed CEO to lead the expanded business along with Marko Maras, founder of Audiens, will now head-up product strategy and innovation. Brech was previously the CEO at Cambridge Data, which advised major organizations to develop world-class data-driven capabilities.

NHN has vast quantities of consumer behavior data and is one of the few tech giants outside the western walled gardens of Amazon, Google, Facebook, Apple and Microsoft. Their focus on cloud, data, advertising, fintech and entertainment will enable Audiens to deliver unique competitive audience insight.

With the investment, Audiens plans to augment its plug and play audiences to deliver automatic audience identification and prioritization technologies. They’ll use advanced data processing techniques based on cloud data experience and machine learning techniques from NHN. The company will also embed new standard mathematical models into their CDP and ramp-up data science capabilities to embed better consumer behavior models in the audience management platform.

“Powerful industrial-strength functionality is moving out of the IT and business information domain and directly to the marketing user, to control and evolve, Audiens gives marketers instant visibility on their audience behavior,” said Jonathan Brech, CEO of Audiens. “Our audience management platform also lets marketing collaborate with colleagues on which ‘nudges’ work best to push different audiences to the next most desirable outcome — whether that’s buying media in a smarter way or messaging via email, messenger platform, etc. It’s a much faster way of understanding and responding to the way your consumers are behaving.”

“Audiens has a unique vision to automate audience identification and optimization using data science and machine learning techniques,” said JS Lee, Director of NHN. “By supporting them with our data science, technology and advertising leadership, plus our extensive customer insight data, we can deliver an exciting marketing game-changer.”

“The continued evolution of CDP’s as a result of the elimination of third-party data shows the strength of the CDP platform to marketers. CDPs are a critical technology to any marketer who needs to turbocharge their first-party data and build and manage audiences for engaging marketing campaigns,” said Brech. “CDP’s are the new must-have model for high-impact marketing and this investment from NHN proves the value of our technology platform.”

“Adding NHN’s technology and data science muscle to the simplicity and easy deployment of Audiens CDP platform, gives our global customers the ability to create marketing campaigns that create value faster for their brand,” added Brech. “The investment accelerates our data science studio capabilities and augments our international sales and marketing program.”

Customers, including ING, Iper and Unieuro, use Audiens to optimize their marketing, grow customer lifetime value by up to threefold and achieve up to 50% savings in advertising cost per acquisition (CPA).

For more information about Audiens and their audience management platform, go to www.audiens.com. For more information about NHN go to https://www.nhn.com.

Media contact: press@audiens.com

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PR Newswire

Really Simple Systems Launches New Marketing Module to Beta

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PETERSFIELD, England, April 21, 2020 /PRNewswire/ — Leading cloud CRM vendor, Really Simple Systems, has today announced the release of a new version of its marketing module for beta testing.

Established in 2006, the popular cloud CRM software developer and vendor has launched its new integrated marketing software on beta. Testers have been recruited from the company’s own customer base to carry out this first stage of user acceptance testing.

The new marketing module will replace the company’s current integrated app, bringing additional functionality and features, along with a simpler campaign processing tool.

Really Simple Systems’ founder and CEO, John Paterson, explained: “Small and mid-sized business today are looking for greater functionality in their marketing software but also need it to be integrated with their CRM system and to successfully run it without the support of a large team of IT professionals. We’ve developed our new marketing module to be intuitive and easy to use but with all the features you’d expect from a stand-alone system. Reaching the point of launching this software for beta testing is a big milestone and we look forward to moving to general release shortly.”

The Really Simple Systems new marketing module includes a redesigned email editor to create professional looking emails, a new ‘simple campaign’ tool to quickly create and send email campaigns, and a new contact segmentation process, allowing the generation of both static and dynamically populated contact lists. The module will be available in two price packages, with the standard system available for up to 5,000 emails per month and the advanced functionality for up to 50,000 emails per month.

Product Development Manager, Simon Ridley, added: “The beta testing phase is extremely important to us and we are thankful to our volunteer testers for their time. Getting their feedback allows us to see how the software meets a wide range of real-world scenarios and helps us fine tune the app.”

The new marketing software is scheduled for general release during summer 2020.

About Really Simple Systems

Established in 2006, Really Simple Systems is one of the world’s largest providers of cloud-based CRM software. Designed for small and mid-sized businesses operating B2B, its customers range from single user start-ups to 200 user systems, including the Red Cross, the Royal Academy of Arts, the British Museum and NHS. Featuring integrated modules for email marketing and customer service, Really Simple Systems CRM is credited as being super-easy to use with excellent customer support.

PR Newswire

Zift Solutions Named a Leader in Through Channel Marketing Automation

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Analyst Firm Recognizes Zift as a TCMA Leader in 2020

JERSEY CITY, New Jersey and RESEARCH TRIANGLE PARK, North Carolina and OXFORD, England, April 21, 2020 /PRNewswire/ — Enterprise Channel Management provider Zift Solutions was named as a “Leader” in The Forrester Wave™: Through Channel Marketing Automation, Q2 2020 report by Forrester Research, Inc.

“We believe our recognition as a TCMA Leader in the 2020 WAVE, including our top ranking in the Strategy category, and the highest scores possible in 11 criteria all underscore ZifONE’s unique ability to power the digital transformation that is redefining the channel in 2020 and beyond,” said Gordon Rapkin, CEO of Zift Solutions. 

According to the report, authored by Jay McBain and Lori Wizdo, “Zift Solutions offers a single integrated platform for all channel management needs. As the name implies, ZiftONE aims to be a single solution that can support an entire channel management program — from recruitment to ROI.”

“It has always been our mission to include everything a channel program needs to deliver value in one application,” said Laz Gonzalez, Zift’s Chief Strategy Officer. “We believe earning a Leader ranking in the Forrester WAVE report for TCMA now shows Zift is the only vendor to bring both — the breadth and the depth in functionality required by serious channel marketers, who are looking to develop integrated marketing campaigns and help partners tell their digital story”

Forrester Research, Inc. determined its 2020 TCMA WAVE rankings based on 24 criteria evaluating 13 providers’ current offerings, strategy and market presence. Zift received top ranking in the Strategy category and 5 out of 5 possible points in eleven criteria, including Digital Asset Management; Execution (partners); Marketing Vehicles; Subscription/Profile Management; Digital Marketing Execution; Security & Compliance; Integration; UI/UX; Product Innovation Roadmap, Supporting Products and Services; and Partner Ecosystem.

The report also states, “Zift has delivered TCMA solutions for more than 12 years. The company shows its understanding of the drivers of channel success in Zift Zone — a revitalized alliance program to connect customers to Zift’s robust ecosystem of agencies, applications, and service providers — and Zift Labs — a service offering to assist developers in client companies.”

Moreover, authors of the Forrester 2020 TCMA WAVE note in the report, “The solution addresses both simple marketing tactics and complex use case scenarios, like allowing partners to use market development funds (MDF) to pay for marketing activities or creating multi-touch marketing programs.”

Zift’s Chief Technology Officer Lionel Farr noted; “Markets are always changing and sit still for no one. This is especially true of the channel space, which is why innovation is critical to the success of any product; its central to our culture, and helps inform our strategy here at Zift.”

A complimentary copy of the complete report is available here.  To learn more about Zift’s innovative vision, award-winning channel technology, and how ZIftONE drives channel success, visit www.ziftsolutions.com.

About Zift Solutions
Zift is the Enterprise Channel Management leader, synchronizing the people, processes and technology organizations require to drive channel success. ZiftONE enhances channel partner program productivity and profitability by automating marketing, sales, and operational processes — and integrating seamlessly with established systems and infrastructure. To learn more, visit ziftsolutions.com, join the conversation via the blog Channel Chatter and follow us on Twitter @zift.

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PR Newswire

Infosys: 37.8% Growth in Digital Portfolio Leads to Strong 9.8% Growth in FY 20

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BENGALURU, India, April 20, 2020 /PRNewswire/ — “I am proud of the Infosys team that has worked exceptionally well to achieve 93% remote working today and ensuring consistent service delivery for our clients in this rapidly changing environment. Our focus on the health of our employees and our commitment to our clients helped us navigate the past few weeks,” said Salil Parekh, CEO and MD. “We had an exceptional year in financial year 2020 with growth of 9.8% and operating margin of 21.3%. While the immediate short-term will be challenging, looking ahead, we can see that there is a strong interest to consolidate with partners with high-quality and agile service delivery and strong financial resilience. I am confident we will emerge from this stronger.”

31.7% YoY

6.4% YoY

21.1% Q4

-0.8% CC

$1.65bn Q4

37.8% FY

9.8% FY

21.3% FY

-1.4% Reported

$9.0bn FY

Digital CC growth

CC growth

Operating margin

QoQ growth

Large deal signings
  • FY20 revenues grew by 8.3% in USD, 9.8% in constant currency
  • FY 20 operating margin at 21.3%
  • FY 20 Free Cash Flow at $2.15 billion; Free Cash Flow to net profit conversion at 92%
  • Q4 20 revenues grew year-on-year by 4.5% in USD; 6.4% in constant currency
  • Q4 20 revenues declined sequentially by 1.4% in USD; 0.8% in constant currency
  • Q4 20 Digital revenues at $1,341 million (41.9% of total revenues), year-on-year growth of 31.7% and sequential growth of 2.6% in constant currency
  • Announces final dividend of `9.50 per share
  • Considering the business uncertainty emanating from COVID-19, the company is unable to provide guidance on revenues and margins for FY 21 at this stage. The company will provide guidance after visibility improves

1.  Financial Highlights – Consolidated results under International Financial Reporting Standards (IFRS)

For the quarter ended March 31, 2020

For the Year ended March 31, 2020

Revenues were $3,197 million, growth of 4.5% YoY and decline of 1.4% QoQ

Revenues were $12,780 million, growth of 8.3% YoY

Operating profit was $674 million, increase of 2.6% YoY and decline of 5.2% QoQ. Operating margin was 21.1%.

Operating profit was $2,724 million, growth of 1.0% YoY. Operating margin was 21.3%.

Basic EPS was $0.14, growth of 4.2% YoY and decline of 5.7% QoQ

Basic EPS was $0.55, growth of 8.3% YoY

“We completed a satisfying year on multiple counts – growth in all verticals and geographies, significant increase in large deal wins, good client mining and operational discipline”, said Pravin Rao, COO. “The impact caused by COVID-19 since last few weeks of March has led to significant displacement in the operating model while severely testing business continuity plans of companies. We demonstrated what a ‘Live Enterprise’ truly is by improving the infrastructure and technology enablement for our employees in a short time span and ensuring business continuity for clients.”

“We continue to remain focused on execution excellence in a period of high uncertainty. Our relentless focus on liquidity will be supported by our strong Balance Sheet of $3.6 billion cash, backed by accelerated cost take-outs and operational rigor”, said Nilanjan Roy, CFO. “The final dividend of `9.50 per share is a testimony of a strong free cash flow performance for FY 20.”

2.  COVID-19 update

As the world comes together to manage the impact of the crisis caused by COVID-19, Infosys is making every effort to tackle the turbulence. The company is prioritizing employee well-being, assuring services for business continuity and strategizing offerings to improve business resilience for its clients, while also supporting community initiatives. Over 93% of our workforce is enabled to work from home, in countries still under lockdown, and from the company’s offices, wherever possible – are all in sync with the company’s priorities and working tirelessly to help make sure clients are running their businesses and preparing for a future of resilience. (Please refer to the separate press release on our COVID-19 response released today)

3.  Update on whistleblower matters

The Audit Committee appointed an external legal counsel to conduct an independent investigation into the whistleblower allegations which have been previously disclosed to stock exchanges on October 22, 2019 and to the Securities Exchange Commission (SEC) on Form 6-K on the same date. As previously disclosed on January 10, 2020 the outcome of the investigation has not resulted in restatement of previously issued financial statements.

The Company cooperated with an investigation by the SEC regarding the same matters. In March 2020, the Company received notification from the SEC that the SEC has concluded its investigation and the Company does not anticipate any further action by the SEC on this matter. The Company is responding to all the inquires received from the Indian regulatory authorities and will continue to cooperate with the authorities for any additional requests for information. Additionally, in October 2019, a shareholder class action lawsuit was filed in the United States District Court for the Eastern District of New York against the Company and certain of its current and former officers for alleged violations of the US federal Securities Laws. The Company is presently unable to predict the scope, duration or the outcome of these matters.

4.  Board changes

DN Prahlad, Independent Director, has resigned from the company to devote more time for his other business commitments with effect from April 20, 2020. The Board placed on record its appreciation for the services rendered by him during his tenure.

The Company announced the appointment of Uri Levine as an Independent Director of the Company, effective April 20, 2020, based on the recommendations of the Nomination and Remuneration Committee of the Board. The appointment is for a period of three years and is subject to the approval of shareholders.

Uri Levine is a passionate serial entrepreneur and disruptor. He co-founded Waze, the world’s largest community-based driving traffic and navigation app, with more than 500 million drivers around the globe, which was acquired by Google on June 2013 for more than $1.1 billion. Uri has been in the high-tech business for the last 30 years with half of them in the start-up scene.

5.  Client wins & Testimonials

  • “Thank you. For employing great people at Infosys. For above and beyond service. And, for a long and prosperous relationship. Not all of our partners were able to get their teams fully up and running. With great pride, I was able to tell the leadership team that Infosys is fully operational for us. Thank you! May Infosys and India weather this storm well and emerge stronger”, Head of US Operations at a global financial services firm.
  • “Your team has supported a historic shift of office-based employees to work-from-home-status in record time here in the US. The planning, execution and subsequent experience of our staff in the new work modality has been outstanding. The CEO and our board have recognized the incredible efforts that have taken place from the IT teams”, CIO of a leading healthcare company.
  • Reckitt Benckiser (RB), a FTSE 100 company, has renewed its partnership with Infosys to reimagine its infrastructure and application operations. As part of this engagement, Infosys will bring in advanced AI and Automation to build a Cognitive First IT Enterprise at Reckitt Benckiser, offering a seamless digital experience for its enterprise users.
  • E.ON has awarded Infosys a multi-year engagement to run and transform its future workplace services. Infosys would transition the workplace services for the E.ON group from the existing incumbent and then continue to transform and operate it till 2025. This expands the strategic partnership between E.ON and Infosys and builds upon the existing contract which Infosys has with E.ON’s subsidiary innogy. Infosys would leverage its Digital Innovation Center in Düsseldorf, Germany, to deliver services for this engagement.
  • Infosys has been selected by Siemens to deploy Wingspan, Infosys’ Digital Learning and Talent Transformation Platform. The company-wide deployment of next generation, talent transformation platform will enhance learning experience for 385,000 Siemens employees.
  • Infosys entered a long-term strategic partnership with GE Appliance, a Haier company, to effectively streamline IT operations. As a part of this alliance, Infosys will assist GE Appliances to accelerate their digital and workplace transformation through automation-driven managed IT services support across global command centres, service desks, end-user computing, IT infrastructure, and applications.
  • A large CPG company selected Infosys to accelerate the transformation of the company’s digital technology capabilities and optimize costs. In addition to being the strategic transformation partner Infosys will also provide end-to-end support for enabling integrated operations across Applications, Infrastructure and Cybersecurity.

6.  Recognitions

  • Infosys was positioned as a leader in IDC MarketScape: North American Distributed Energy Resource Management Systems Strategic Consultants and Systems Integrators 2020 Vendor Assessment
  • Positioned as a leader in IDC MarketScape: Worldwide Business and Industrial IoT Consulting and Systems Integration Services 2020 Vendor Assessment
  • Recognized as a leader in IDC MarketScape: Worldwide Business and Industrial IoT Engineering and Managed Services 2020 Vendor Assessment
  • Positioned as a Leader in the IDC MarketScape: Worldwide Integrated Payment Platforms 2019-2020 Vendor Assessment
  • Ranked as a leader in NelsonHall NEAT for Cognitive and Self-Healing IT Infrastructure Management Services
  • Ranked as a leader in NelsonHall NEAT for Digital Manufacturing Services
  • Infosys BPM has been recognized with the elite international award- Brandon Hall Human Capital Excellence Awards, 2019 under three diverse categories.
  • Infosys BPM has won the Best Practices in CSR Awards 2020 for the Skill Development Initiative of IBPM at 6th International Conference of Corporate Social Responsibility by Institute of Public Enterprise, Hyderabad.

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, 2019. 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.

Infosys Limited and subsidiaries

Audited Condensed Consolidated Balance Sheet as at:

(Dollars in millions except equity share data)

March 31, 2020

March 31, 2019

ASSETS 

Current assets

Cash and cash equivalents

2,465

2,829

Current investments

615

958

Trade receivables

2,443

2,144

Unbilled revenue

941

777

Prepayments and other current assets

739

827

Income tax assets

1

61

Derivative financial instruments

8

48

Total current assets

7,212

7,644

Non-current assets

Property, plant and equipment

1,810

1,931

Right-of-use assets(B3)

551

–

Goodwill

699

512

Intangible assets

251

100

Non-current investments

547

670

Deferred income tax assets

231

199

Income tax assets

711

914

Other non-current assets

248

282

Total non-current assets

5,048

4,608

Total assets

12,260

12,252

LIABILITIES AND EQUITY 

Current liabilities 

Trade payables

377

239

Lease liabilities(B3)

82

–

Derivative financial instruments

65

2

Current income tax liabilities

197

227

Client deposits

2

4

Unearned revenue

395

406

Employee benefit obligations

242

234

Provisions

76

83

Other current liabilities

1,321

1,498

Total current liabilities

2,757

2,693

Non-current liabilities

Lease liabilities(B3)

530

–

Deferred income tax liabilities

128

98

Employee benefit obligations

5

6

Other non-current liabilities

139

55

Total liabilities

3,559

2,852

Equity 

Share capital- `5 ($0.16) par value 4,800,000,000 (4,800,000,000) equity shares authorized, issued and outstanding 4,240,753,210 (4,335,954,462) equity shares fully paid up, net of 18,239,356 (20,324,982) treasury shares as at March 31, 2020 (March 31, 2019)

332

339

Share premium

305

277

Retained earnings

11,014

11,248

Cash flow hedge reserve

(2)

3

Other reserves

594

384

Capital redemption reserve

17

10

Other components of equity

(3,614)

(2,870)

Total equity attributable to equity holders of the company

8,646

9,391

Non-controlling interests

55

9

Total equity

8,701

9,400

Total liabilities and equity 

12,260

12,252

Infosys Limited and subsidiaries

Consolidated Statement of Comprehensive Income for the:

(Dollars in millions except equity share and per equity share data)

Unaudited

Audited

3 months ended March 31, 2020

3 months ended March 31, 2019

Year ended March 31, 2020

Year ended March 31, 2019

Revenues

3,197

3,060

12,780

11,799

Cost of sales

2,133

2,028

8,552

7,687

Gross profit

1,064

1,032

4,228

4,112

Operating expenses

   Selling and marketing expenses

161

174

664

638

   Administrative expenses

229

200

840

778

Total operating expenses

390

374

1,504

1,416

Operating profit

674

658

2,724

2,696

Other income, net (A3) (B2)

84

94

395

411

Finance cost(B3)

(6)

–

(24)

–

Reduction in the fair value of Disposal Group held for sale(A1)

–

–

–

(39)

Adjustment in respect of excess of carrying amount over recoverable amount on reclassification from “Held for Sale” (A2)

–

–

–

(65)

Profit before income taxes

752

752

3,095

3,003

Income tax expense (A4)

160

171

757

803

Net profit

592

581

2,338

2,200

Other comprehensive income

Items that will not be reclassified subsequently to profit or loss:

Re-measurements of the net defined benefit liability/asset, net (B4)

(2)

–

(24)

(3)

Equity instrument through other comprehensive income, net

–

–

(5)

10

(2)

–

(29)

7

Items that will be reclassified subsequently to profit or loss:

Fair valuation of investments, net

2

3

3

–

Fair value changes on derivatives designated as cash flow hedge, net

–

(2)

(5)

3

Foreign currency translation

(473)

74

(720)

(560)

(471)

75

(722)

(557)

Total other comprehensive income/(loss), net of tax

(473)

75

(751)

(550)

Total comprehensive income

119

656

1,587

1,650

Profit attributable to:

Owners of the Company 

590

580

2,331

2,199

Non-controlling interests

2

1

7

1

592

581

2,338

2,200

Total comprehensive income attributable to:

Owners of the Company 

117

655

1,582

1,649

Non-controlling interests

2

1

5

1

119

656

1,587

1,650

Earnings per equity share

Basic ($)

0.14

0.13

0.55

0.51

Diluted ($)

0.14

0.13

0.55

0.51

Weighted average equity shares used in computing earnings per equity share

Basic

4,240,181,854

4,347,129,592

4,257,754,522

4,347,130,157

Diluted

4,245,981,386

4,353,023,863

4,265,144,228

4,353,420,772

NOTES:

A.  Notes pertaining to previous year

  1. During the year ended March 31, 2019, the Company had recorded a reduction in the fair value amounting to $39 million in respect of its subsidiary Panaya.
  2. The Company had recorded an adjustment in respect of excess of carrying amount over recoverable amount of $65 million in respect of its subsidiary Skava during the year ended March 31, 2019.
  3. Other income includes interest on income tax refunds amounting to $7 million for the year ended March 31, 2019.
  4. During the year ended March 31, 2019, on account of conclusion of an Advanced Pricing Agreement (APA) in an overseas jurisdiction, the Company had reversed income tax expense provision of $14 million, which pertains to previous periods.

B.  Notes pertaining to the current quarter / year

  1. The audited condensed consolidated Balance sheet and Statement of Comprehensive Income for the year ended March 31, 2020 have been taken on record at the Board meeting held on April 20, 2020.
  2. Other income includes interest on income tax refunds amounting to $2 million for the three months ended March 31, 2020 and $37 million for the year ended March 31, 2020.
  3. On account of adoption of IFRS 16- Leases effective April 1, 2019.
  4. Includes unrealized losses on certain investments carried in the PF trust for the quarter and year ended March 31, 2020.

C.  A Fact Sheet providing the operating metrics of the Company can be downloaded from www.infosys.com

INR- https://www.infosys.com/investors/reports-filings/quarterly-results/2019-2020/q4/documents/ifrs-inr-press-release.pdf

Factsheet- https://www.infosys.com/investors/reports-filings/quarterly-results/2019-2020/q4/documents/fact-sheet.pdf