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31 Oct

Cigniti Hosted HYSEA and Montgomery County, Maryland Sign a Strategic Economic Development MoU

Dallas, 31st Oct: Hyderabad Software Enterprises Association (HYSEA) and Montgomery County, Maryland has signed an MoU, announcing the strategic partnership in nurturing the startup and innovation ecosystem in both Montgomery County, Maryland and Hyderabad, India. Cigniti Technologies, the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company played an instrumental role in bringing both the bodies in signing the MoU.

This partnership would facilitate interactions among startups, corporations, academic institutions, and other stakeholders in these two growing regions, to fortify the business ecosystems and enhance business growth support resources available to enterprises in both countries.

The MoU between Montgomery County and HYSEA has been signed in the presence of Mr. C V Subramanyam (Chairman & MD, Cigniti);  Mr. Marc Elrich (County Executive, Montgomery County), Ms. Manisha Saboo (President, HYSEA), Mr. Pavan Bezwada (Commissioner, Maryland Governors Commission on South Asian American Affairs); Sairam Vedam (Chief Marketing Officer, Cigniti) along with other Cigniti and HYSEA leaders.

The event was attended by 60+ delegates focused on Software and IT services, and advanced digital technologies (i.e., AI, IoT, satellite, MedTech, hospitality tech, robotics) to explore opportunities for technology collaboration and local economic growth.

About HYSEA
HYSEA is a unique industry initiative and a non-profit organization that strives to bring together the various IT and ITeS Organizations in Telangana under one umbrella to network, share knowledge and work closely with the Government and other industry stakeholders to expand into new areas of business, social development and economic prosperity of the state.

The association is 30 years old and has more than 300+ registered members, representing nearly 90% of Telangana’s IT/ITeS industry revenue and employee headcount. HYSEA member list includes a judicious mix of Large, Medium and Small, Indian and MNC companies such as Infosys, Intel, Micron, Wipro, Cognizant, TCS, Tech Mahindra, Capgemini, Deloitte, Cigniti Technologies,  Qualcomm, Microsoft, HSBC, ZF, WellsFargo, State Street, Google, Firstsource, Broadridge, Chubb, Infor, Micron, Valuemomentum, OpenText, ValueLabs, Synchrony, ZenQ, Innominds, Invenio, OSI Digital, Informatica, EnergyTech Global, TechEra IT Consulting and more from the Software Services, BPO, and Product segments.

About Montgomery County
Montgomery County, the largest jurisdiction in Maryland, USA, is among the most diverse and highly educated communities in the United States and has many citizens with families in India. The County is in the center of the 3rd largest bio health cluster and 4th largest technology talent pool in America. Adjacent to Washington, DC, this County also is home to numerous U.S. federal agencies (including the National Institutes of Health, the Food and Drug Administration, the National Institutes of Standards and Technology, and the National Cybersecurity Center of Excellence), and many advanced technology (i.e., IT, IoT, satellite, MedTech, hospitality tech, robotics) businesses, private and nonprofit research organizations. It now also is home to a new University of Maryland Institute for Health Computing which will leverage AI for population health, precision medicine, and drug discovery.

About Cigniti Technologies
Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758) is the world’s leading AI & IP-led Digital Assurance and Digital Engineering Services Company. 4200+ Cignitians worldwide help Fortune 500 & Global 2000 enterprises across 25 countries accelerate their digital transformation journey across various stages of digital adoption and help them achieve market leadership by providing transformation services leveraging IP and platform-led innovation with expertise across multiple verticals and domains. Our industry-leading digital assurance and AI-led digital engineering services are helping global customers with measurable outcomes, millions of dollars of savings, and significant ROI. We are headquartered in Hyderabad, India, with global offices spread across the USA, Canada, UK, UAE, Australia, South Africa, Czech Republic, and Singapore.

For media inquiries, please contact:
Midhun Pingili, AVP – Marketing | +91 8886093093 | Midhun.pingili@cigniti.com

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26 Oct

Cigniti Wins ISG Case Study Standout Award for its AI/ML Solution in the Education Industry

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

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

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

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

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26 Oct

Cigniti Wins ISG Case Study Standout Award for its AI/ML Solution in the Education Industry

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

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

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

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

Commenting on this recognition, Srikanth Chakkilam, CEO of Cigniti Technologies, stated, "We are happy to receive the ISG Case Study Standout award for Cigniti's expertise in operationalizing data to build a reliable and validated model for Adelphoi. This case study is a classic example of leveraging Technology for Good. AI/ML is experiencing an unprecedented boom, transforming how businesses operate, and this recognition underscores Cigniti's position as the frontrunner in harnessing the power of AI/ML for tangible, real-world results. At Cigniti, we offer transformative solutions that bridge the gap between cutting-edge technology and real-world impact. This accolade reflects Cigniti's unwavering commitment to innovation and excellence in leveraging technology for positive change to all our global clients."

Mark Mortimer, COO of Adelphoi, commented, "We are thrilled to have collaborated with Cigniti Technologies on this ground-breaking project. Their dedication, expertise, and unwavering commitment to excellence have culminated in a transformative predictive analytics software model. This software will reduce treatment time and improve outcomes for countless youth in the child welfare and juvenile justice systems."

To read the case study, click here.

About Cigniti Technologies
Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758) is the world's leading AI & IP-led Digital Assurance and Digital Engineering Services Company. 4200+ Cignitians worldwide help Fortune 500 & Global 2000 enterprises across 25 countries accelerate their digital transformation journey across various stages of digital adoption and help them achieve market leadership by providing transformation services leveraging IP and platform-led innovation with expertise across multiple verticals and domains. Our industry-leading digital assurance and AI-led digital engineering services are helping global customers with measurable outcomes, millions of dollars of savings, and significant ROI. We are headquartered in Hyderabad, India, with global offices spread across the USA, Canada, UK, UAE, Australia, South Africa, Czech Republic, and Singapore.

For media inquiries, please contact:
Midhun Pingili, AVP – Marketing | +91 8886093093 | Midhun.pingili@cigniti.com

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05 Oct

Cigniti Achieves TISAX Label 2 Certification with Maturity Level 3 in the Automotive Industry

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

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

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

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

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05 Oct

Cigniti Achieves TISAX Label 2 Certification with Maturity Level 3 in the Automotive Industry

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

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

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

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

About Cigniti Technologies:
Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758) is the world's leading AI & IP-led Digital Assurance and Digital Engineering services company. 4200+ Cignitians worldwide help Fortune 500 & Global 2000 enterprises across 25 countries accelerate their digital transformation journey across various stages of digital adoption and help them achieve market leadership by providing transformation services leveraging IP & platform-led innovation with expertise across multiple verticals and domains. Our industry-leading Digital Assurance and AI-led Digital Engineering services are helping global customers with measurable outcomes, millions of dollars of savings, and significant ROI. We are headquartered in Hyderabad, India, with global offices spread across the USA, Canada, UK, UAE, Australia, South Africa, Czech Republic, Singapore, and Costa Rica. To know more about Cigniti, visit: www.cigniti.com

For media inquiries, please contact:
Midhun Pingili
AVP – Marketing
+91 8886093093
Midhun.pingili@cigniti.com

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21 Sep

Cigniti Technologies Recognized as a Leader in Everest Group’s Quality Engineering Services PEAK Matrix® Assessment 2023

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

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

"As enterprises increase their technology investments to revolutionize their conventional business models, the expectations from the quality function have grown exponentially. To ensure business and technology success, enterprises now realize the need to embed best-fit quality engineering solutions that can serve its complex technology architecture as well as development processes. Consequently, enterprises are actively partnering with specialist quality engineering providers. These providers play a vital role in propelling innovation with their laser-sharp focus in the quality engineering space, guiding their enterprise clients through a transformative journey toward becoming a quality-first organization," said Alisha Mittal, Vice President, Everest Group."Cigniti emerges as a Leader in Everest Group's Quality Engineering (QE) Specialist Services PEAK Matrix® Assessment 2023, owing to its a comprehensive solution portfolio in the QE services space, which is further fortified by their ongoing investments in in-house solutions such as BlueSwan and their robust partnership network."

Commenting on this milestone, Srikanth Chakkilam, CEO & Director of Cigniti Technologies Inc, stated, "We are elated to be recognized again as a Quality Engineering Leader by a global analyst. It is an affirmation of our relentless pursuit of excellence in Quality Engineering. This recognition is a testament and a reflection of Cignitians worldwide who are putting their best foot forward to ensure our clients leverage the power of software quality to win the digital landscape. In today’s contemporary business landscape, the role of Quality Engineering has shifted from being a typical service offering to embracing a Business Assurance mindset.”

“This fundamental shift has empowered us to test performance and to ensure it for businesses actively. Cigniti is committed to maintaining its leadership position in the Quality Engineering space by consistently exceeding client expectations and pushing the boundaries of innovation,” Srikanth added.

Cigniti's Chief Marketing Officer, Sairam Vedam, stated, "Being positioned as a 'Leader' in the PEAK Matrix® Assessment is a reflection of the consistent ascent of Cigniti over the years to a stage where we are becoming a champion of quality first approaches to help accelerate the digital business outcomes of our clients the world over. We believe that in a software-led world that increasingly results in global businesses being digitally reimagined, deep-rooted quality engineering expertise is a must for clients to leap ahead. By being at the forefront of AI and IP-led innovation through our platform, BlueSwan, we are transcending innovation and value creation frontiers.”

“Automation, Acceleration, and Assurance are the three pillars of our commitment to ensure frictionless, impeccable digital customer experiences to help our customers truly become market leaders. We are truly honored with this recognition,” Sai said.

Access the full report here.

About Cigniti Technologies:
Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758) is the world's leading AI & IP-led Digital Assurance and Digital Engineering services company. 4200+ Cignitians worldwide help Fortune 500 & Global 2000 enterprises across 25 countries accelerate their digital transformation journey across various stages of digital adoption and help them achieve market leadership by providing transformation services leveraging IP & platform-led innovation with expertise across multiple verticals and domains. Our industry-leading Digital Assurance and AI-led Digital Engineering services are helping global customers with measurable outcomes, millions of dollars of savings, and significant ROI. We are headquartered in Hyderabad, India, with global offices spread across the USA, Canada, UK, UAE, Australia, South Africa, Czech Republic, Singapore, and Costa Rica. To know more about Cigniti, visit: www.cigniti.com

For media inquiries, please contact:
Midhun Pingili
+91 8886093093
Midhun.pingili@cigniti.com

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21 Sep

Cigniti Technologies Recognized as a Leader in Everest Group’s Quality Engineering Services PEAK Matrix® Assessment 2023

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

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

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14 Sep

Maximize the Potential of AI and Machine Learning for Quality Assurance

Maximize the Potential of AI and Machine Learning for Quality Assurance

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

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

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04 Sep

The role of Generative AI in cybersecurity and fraud detection

The role of Generative AI in cybersecurity and fraud detection

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

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

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28 Aug

ISG Recognizes Cigniti as a Contender in Digital Innovation Services & Managed Services in the ISG Provider Lens™ Retail & CPG Services 2023

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

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

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

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

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

To view the charts, click here.

For media inquiries, please contact:
Midhun Pingili
Sr. Director, Marketing
+91 8886093093
Midhun.pingili@cigniti.com

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28 Aug

ISG Recognizes Cigniti as a Contender in Digital Innovation Services & Managed Services in the ISG Provider Lens™ Retail & CPG Services 2023

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

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

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

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

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

To view the charts, click here.

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17 Aug

Cigniti CEO in Conversation With Economic Times on Q1FY24 Results and Business Outlook

Cigniti CEO in Conversation With Economic Times on Q1FY24 Results and Business Outlook

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

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

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15 Aug

Data Quality For Good AI Outcomes

Data Quality For Good AI Outcomes

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

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28 Jul

Cigniti Technologies reports the financial results for Q1FY24

Consolidated Revenue Rs. 439.53 crores and Net Profit Rs. 44.56 Cr
Standalone Revenue Rs. 190.30 crores and Net Profit Rs. 27.16 Cr

Consolidated Financial Performance for Q1YF24 v/s Q1FY23 (Corresponding Year)

  • Revenue of Rs. 439.53 crore v/s. Rs. 377.97 crore [16.3%]
  • Reported EBITDA of Rs. 62.07 crore v/s. Rs. 44.55 crore [39.3%]
  • PAT of Rs. 44.56 crore v/s. Rs. 31.00 crore [43.7%]

Consolidated Financial Performance for Q1FY24 v/s Q4FY23 (Sequential Quarter)

  • Revenue of Rs. 439.53 crore v/s. Rs. 424.97 crore [3.4%]
  • EBITDA reported of Rs. 62.07 crore v/s. Rs. 68.37 crore [-9.2%]
  • PAT of Rs. 44.56 crore v/s. Rs. 49.24 crore [-9.5%]

Hyderabad, 28th July 2023: Cigniti Technologies Limited, the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company, announced the consolidated financial results for the quarter ended June 30, 2023.

For the quarter under consideration, the company's consolidated revenue from operations stood at Rs. 439.53 crore as against Rs. 424.97 crore in Q4FY23.

EBITDA margin for the June quarter is at 14.1% and stood at Rs. 62.07 crore as against Rs. 68.37 crore in Q4FY23.

The company’s reported Net Profit for Q1FY24 stood at Rs.44.56 crore as against Rs. 49.24 crore in Q4FY23.

Commenting on the results, Mr. Srikanth Chakkilam, Chief Executive Officer, said, "We have achieved a reasonable performance in Q1FY24 given the headwinds in the economy. We continue to observe the environment cautiously and work towards achieving sustainable growth in the coming quarters.

During the quarter, the Company has made inroads into the digital engineering space with its top 50 clients. The company is confident that its relentless focus on delivering high-quality solutions to its clients, along with innovative service offerings, shall result in enhanced performance."

Highlights for the quarter ended June 30, 2023:

  • Revenue from the top 5 clients contributed approximately 23.12% of the Revenue.
  • BFSI, Retail & e-commerce and Travel & Transport sectors contributed in a major way to the revenue for Q1’FY24
  • Revenue splits geographically: North America & Canada – 83.06%, UK & Europe – 9%, Rest of the World – 7.94%.

Furthermore, we take immense pride in the recent acknowledgments we have received.

  • Nelson Hall’s NEAT report "Quality Engineering 2023" has recognized us as a Leader in Overall Quality Engineering, AI-based Analytics and Automation, Application Security Testing, Cloud Migration, and RPA.
  • The leading analyst firm also acknowledged Cigniti as an Innovator in UX Testing and a Major Player in ERP and COTS Testing. These accolades reflect our continued focus on innovation and the pursuit of excellence.
  • Additionally, ISG recognized Cigniti as a Product Challenger and Contender in the US and Europe Regions in the ISG Provider Lens™ Digital Engineering Services 2023 study.”

About Cigniti Technologies Limited:
Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758) is the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company. Headquartered in Hyderabad, India, Cigniti’s 4200+ employees help Fortune 500 and Global 2000 enterprises across 25 countries accelerate their digital transformation journey across various stages of digital adoption and help them achieve market leadership by providing transformation services leveraging IP and platform-led innovation with expertise across multiple verticals and domains. To learn more, visit www.cigniti.com.

For further information, please contact:

Gaurangi Veshvikar
Adfactors PR
Mob: +91 9321923248
Email: gaurangi.veshvikar@adfactorspr.com

Midhun Pingili
Cigniti Technologies
Mob: +91 8886093093
Email: midhun.pingili@cigniti.com

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25 Jul

Cigniti’s IP, ZastraTM, has been Recognized in the “The Computer Vision Tools Landscape, Q2 2023” Report by Independent Research Firm

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

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

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

Srikanth Chakkilam, Chief Executive Officer, Cigniti Technologies, said, "According to recent reports, the majority of companies with data and analytics decision-makers who are adopting AI technologies are planning to boost their investments in computer and machine vision in the upcoming year. From enhancing medical diagnoses to improving quality control in manufacturing, Computer Vision is transforming operations and unlocking new opportunities across industries. For us, this recognition further bolsters ZastraTM’s industry-proven capabilities as a computer vision tool that helps global organizations harness the power of AI in their digital transformation journeys.”

Sairam Vedam, Chief Marketing Officer at Cigniti Technologies, added, “The recognition of ZastraTM in Forrester's report is, in our opinion, a testament to the company's expertise in computer vision and its commitment to delivering innovative solutions. ZastraTM empowers organizations to enhance visual analysis and optimize various computer vision use cases through its comprehensive suite of tools, frameworks, and methodologies. We are proud to contribute to the future of computer vision and remain committed to driving innovation in the Digital Assurance and Digital Engineering space and be at the frontiers of an AI-led future.”

Forrester defines Computer Vision tools as "Software tools, software development kits (SDKs), and platforms that assist in both the development and deployment of computer vision models for multiple enterprise-level use cases. They include tools for data ingestion, data augmentation, model training, testing, and/or deployment."

Access the full report here.

About Cigniti Technologies:
Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758) is the World's Leading AI & IP-led Digital Assurance and Digital Engineering Services Company. 4200+ Cignitians worldwide help Fortune 500 & Global 2000 enterprises across 24 countries accelerate their digital transformation journey across various stages of digital adoption and help them achieve market leadership by providing transformation services leveraging IP & Platform-led innovation with expertise across multiple verticals and domains. Our industry-leading digital assurance and AI-led digital engineering services are helping global customers with measurable outcomes, millions of dollars of savings, and significant ROI. We are headquartered in Hyderabad, India, with global offices spread across the USA, Canada, UK, UAE, Australia, South Africa, Czech Republic, and Singapore. To know more about Cigniti, visit: www.cigniti.com

For media inquiries, please contact:
Midhun Pingili
Sr. Director, Marketing
+91 8886093093
Midhun.pingili@cigniti.com

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25 Jul

Cigniti’s IP, ZastraTM, has been Recognized in the “The Computer Vision Tools Landscape, Q2 2023” Report by Independent Research Firm

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

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

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

Access the full coverage

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24 Jul

The Role of Soft Skills in the AI Era

The Role of Soft Skills in the AI Era

Artificial intelligence (AI) is rapidly changing the world of work. Many tasks that humans once performed are now being automated by AI systems. There are growing concerns that AI might lead to job losses. However, there is also a growing recognition that AI will create new jobs requiring different skills than those currently in demand. While AI excels in efficiency and automation, it often lacks the necessary human touch for emotional understanding, creativity, and complex problem-solving.

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