Author - anand

Democratization of AI: Empowering businesses in the digital transformation journey

In today’s data-driven world, knowledge is more than simply power; it is essential for staying ahead in a competitive marketplace. The ability to use data for informed decision-making differentiates successful businesses. However, the difficulty remains: not everyone in an organization possesses the technical skill to extract valuable insights from complicated data.

Enter “Data Democratization”-the game-changing concept of making data accessible and clear to everyone, regardless of technical skills. This approach enables all workers to use data, creating a culture of informed decision-making and creativity throughout the organization.

The Transformative Impact of Generative AI on Software Development and Quality Engineering

The Transformative Impact of Generative AI on Software Development and Quality Engineering

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

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

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

Cigniti Technologies Limited is appraised at Maturity Level 5 of the CMMI® Development & Services V3.0

Cigniti is the world’s leading AI & IP-led Digital Assurance and Engineering services company that helps global companies across industries continuously accelerate their Digital Transformation and become Digital-First. Cigniti has been appraised at Maturity Level 5 of the CMMI® Development & Services V3.0, this significant milestone reinforces Cigniti’s commitment towards excellence and sets new standards in the field of Digital Assurance & Digital Engineering.

The Capability Maturity Model Integration (CMMI) is a proven, outcome-based performance model and the globally accepted standard for improving capability, optimizing business performance and aligning operations to business goals. An appraisal at Maturity Level 5 indicates that the organization is performing at an “optimizing” level. At this level, an organization continually improves its processes based on a quantitative understanding of its business objectives and performance needs. The organization uses a quantitative approach to understand the variation inherent in the process and the causes of process outcomes.

Mr. Rajarshi Kumar Das, the CMMI Institute Certified High Maturity Lead Appraiser, performed the appraisal using the latest version of CMMI Model V3.0; The Benchmark appraisal evaluated various aspects of Cigniti’s Digital Assurance and Engineering services.

Acknowledging the achievement, Srikanth Chakkilam, CEO of Cigniti, said, “We are happy to have achieved the CMMI Development V3.0 Maturity Level 5 appraisal for Digital Assurance and Engineering services. It lays a strong path to help increase the confidence of our customers in our ability to offer world-class digital engineering services on top of our existing market leading digital assurance services. We remain committed to leveraging our standardized processes and industry best practices to drive exceptional value for our clients and fuel our continued success. This is a firm step towards marching ahead in achieving our stated goals of growth and being a preferred partner of choice in helping customers accelerate their digital journeys.”

“This certification is a testament to our internal processes and reflects our dedication to meeting and exceeding client expectations. The CMMI Development & Services V3.0 Maturity Level 5 certification benefits our clients by assuring them of our commitment to quality. It provides a more systematic, innovative, robust project management framework and risk-aware approach to project delivery. This certificate also serves as tangible proof of our competence to consistently deliver excellence, empowering our clients with the assurance that they are partnering with a trusted organization for their digital engineering requirements,” said Raghuram Krovvidy, Chief Delivery Officer, Cigniti Technologies.

For media inquiries, contact: mediarelations@cigniti.com

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

Cigniti’s AI/ML Client Successes Across Industries Reaffirm its AI & IP-led Digital Engineering Service Capabilities

Dallas, April 30, 2024: Cigniti's AI-driven analytics expertise has enabled global companies to achieve production-ready solutions and enhanced business outcomes, leveraging its IP-led platforms - BlueSwan™ and Zastra.

Cigniti provides end-to-end AI/ML project services, including consulting, strategy, development, testing, deployment, and management. Their capabilities cover AI strategy, ML testing, model building, cognitive services, and deep learning. Responsible AI/ML interventions have become essential for organizations, driving improved experience and efficiency.

Specializing in personalized AI implementations, Cigniti's in-house AI/ML experts ensure timely project delivery. Their AI/ML validation platform rigorously assesses model performance, while their proficiency in explainable AI addresses challenges and fosters transparency. Moreover, Cigniti's annotation workflow platform, Zastra™, streamlines data annotation efforts and facilitates collaboration. These collective capabilities drive enhanced experiences and operational efficiency for Cigniti’s esteemed Global 2000 and Fortune 500 clients.

Cigniti’s AI-enabled predictive analytics and enterprise intelligence services for three of its clients – (i) for a Non-Profit Organization in enhancing a decision support system, (ii) for an HVAC Manufacturer in implementing digital fingerprint, and (iii) for a leading Caribbean Bank in conducting model validation, were included alongside a select group of 19 case studies in IDC’s Case Study compendium “Enterprise Intelligence Services Case Studies: AI-Enabled Analytics, # US50082223, Jan 2024”

Commenting on this, Srikanth Chakkilam, CEO of Cigniti Technologies, stated, “We believe the independent industry analyst firm’s Future of Enterprise Intelligence research underscores the pivotal role of AI/ML interventions in enhancing organizational efficiency and experiences. I am happy to see our AI/ML expertise delivered across three industries has been recognized and featured by the analyst firm. At Cigniti, our specialized offerings include AI strategy, ML testing, model building, cognitive services, and deep learning, ensuring timely delivery and impactful outcomes for our clients. Moreover, we're actively advancing our Gen AI capabilities and developing platforms, enabling global clients to harness the potential of AI and win the digital landscape.”

Sairam Vedam, CMO of Cigniti Technologies, added, “Cigniti, as a leading player in the AI & IP-led Digital Engineering and Digital Assurance services, is keenly attuned to the transformative power of AI, as we believe is emphasized by independent analyst firm’s Future of Enterprise Intelligence research. Our commitment to innovation and adaptability drives us to provide cutting-edge AI/ML and predictive analytics solutions, empowering organizations to thrive in an ever-evolving market. As we continue to leverage AI to optimize operations, enhance customer experiences, and stay ahead of the curve, we remain steadfast in our mission to drive digital transformation and excellence to all our global clients across industries.”

Access the report here for detailed case studies and more information.

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, and UAE.

Cigniti Technologies Recognized as a Disruptor for Embedding AI and Automation to deliver QA services for change agents in HFS Horizon Report on Assuring the Generative Enterprise™, 2024

Dallas, April 16, 2024: Cigniti Technologies, a global leader in AI & IP-led Digital Assurance and Digital Engineering services, has been acknowledged in the latest HFS Horizon report titled "Assuring the Generative Enterprise™, 2024". The report highlights Cigniti's commitment to quality assurance and investment in AI capabilities, positioning the company as a key player in enabling clients to maximize automation and operationalize GenAI within their software delivery lifecycles.

According to the report, Cigniti's value proposition lies in its flexible approach to delivering QA services, prioritizing outcomes-based solutions tailored to unique client needs. Through its BlueSwan platform, Cigniti embeds AI and automation across eight core components, enhancing testing procedures and automation efficiency. With a focus on assuring change agents, such as FDA compliance in the MedTech industry, Cigniti drives tangible outcomes, exemplified by a fourfold increase in release velocity and 85% automation coverage for a major US airline. Its industry-agnostic approach is showcased through successful QA implementations across retail, travel, healthcare, banking, financial services, and insurance sectors.

Tom Reuner, Executive Research Leader, HFS Research, says, "Leveraging its heritage in Quality Assurance, Cigniti continues to invest in AI capabilities to enable its clients to maximize the level of automation on their respective journeys toward putting quality at the center of the software delivery lifecycle and operationalizing GenAI."

Srikanth Chakkilam, CEO of Cigniti Technologies, remarked, "This recognition from HFS validates our relentless pursuit of excellence in Quality Assurance and AI-driven innovation. At Cigniti, we are committed to empowering enterprises to embrace digital transformation with confidence, and this acknowledgment underscores our dedication to advancing the forefront of technology."

Sairam Vedam, CMO of Cigniti Technologies, emphasized, "Cigniti's inclusion in the HFS Horizon report reinforces our position as a trusted partner for organizations seeking to enhance their digital capabilities through software quality as a strategic enabler. We are proud to contribute to the evolution of the generative enterprise by harnessing the power of AI led automation and digital assurance to drive tangible business outcomes."

Cigniti Technologies continues to lead the industry with its AI-driven approach, enabling clients to navigate complex digital landscapes with agility and innovation.

Access the full report here for more information.

For media inquiries, contact: mediarelations@cigniti.com

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

Cigniti Positioned as a Challenger in Computer Vision Tools, Q1 2024 Report by Independent Research Firm

Dallas, April 5 2024: Cigniti Technologies, a global leader in AI & IP-led Digital Assurance and Digital Engineering services, is proud to announce that it has been positioned as a Challenger in The Forrester Wave™: Computer Vision Tools, Q1 2024. Cigniti believes this recognition places Cigniti among industry giants such as Google, AWS, and other leading platform companies that have been pioneering advancements in AI and Computer Vision.

The Forrester report states that Cigniti offers good annotation capabilities. In summary, the report says that Cigniti aims to redefine data annotation by integrating active learning and generative AI (genAI) technologies, which it plans to achieve through its Zastra CV platform. This platform is intended to set new standards for data annotation and support broader computer vision application development. Cigniti's current roadmap focuses on enhancing annotation-related features, including lidar point data annotation, synthetic data creation, and active learning audio annotation. Additionally, Zastra’s strength lies in data management, encompassing data collection, annotation, and anomaly avoidance. Forrester notes that Cigniti is a good match for clients seeking a data annotation accelerator with some CV platform capabilities or for leveraging Cigniti’s broader suite of services.

Srikanth Chakkilam, Chief Executive Officer at Cigniti, “Our positioning as a Challenger in the Forrester Wave™ reinforces for us our commitment to pushing the boundaries of technology. By integrating active learning and genAI technologies into our solutions, we aim to set new standards in data annotation and computer vision applications. This acknowledgment fuels our drive to innovate and enhances our dedication to providing solutions that empower our clients and transform the industry.”

Sairam Vedam, Chief Marketing Officer at Cigniti, “This recognition by Forrester is a significant milestone for us. We believe being positioned as a Challenger in this highly competitive evaluation is a testament to our unwavering commitment to excellence, innovation, and our relentless pursuit of delivering top-notch solutions in the field of computer vision. In our opinion, it validates our strategic direction and the innovative efforts we are putting into developing the Zastra CV platform. Our goal is to continuously redefine data annotation standards by leveraging active learning and GenAI technologies. We are committed to making substantial contributions to the field of computer vision and delivering exceptional value to our clients.”

Cigniti's recognition in The Forrester Wave™ is not just an achievement; we feel it is a catalyst for us to continue pushing the envelope in the Gen AI, AI, and computer vision domains. As we move forward, we remain dedicated to delivering innovative solutions that meet the evolving needs of our clients and drive the future of technology.

For media inquiries, contact: mediarelations@cigniti.com

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

Cigniti Honored as Top Regional Partner 2023 – North America by Katalon

Dallas, 19th March: Cigniti Technologies, the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company, has been recognized as the winner of its “Top Regional Partner Award” in the North America region by Katalon, the leading provider of the most modern, comprehensive software quality management platform. This award honors the partner who significantly impacted Katalon’s business in North America in 2023.

Paul Kizakevich, President, GTM and CRO at Katalon, expressed his thoughts on this noteworthy achievement: "Cigniti, providing digital assurance and quality engineering, has a strong reputation for delivering measurable results to their clients. Throughout 2023, our increased collaboration in North drove software testing modernization initiatives at many notable customers. Looking ahead in 2024, we are eager to continue nurturing and expanding our partnership with Cigniti."

On receiving this award, Cigniti’s Chief Revenue Officer, Vinay Rawat, remarked, “Cigniti is honored to receive the Top Regional Partner award for the second consecutive time. This recognition underscores our unwavering commitment to delivering unparalleled digital assurance and quality engineering services. Our collaboration with Katalon has been a testament to the power of synergistic partnerships, and we are thrilled to have contributed to the momentum in North America through joint marketing initiatives. As we look forward to 2024, we are excited about further nurturing and expanding our partnership with Katalon”.

This accolade reinforces Cigniti’s commitment to delivering exceptional digital solutions and highlights the success of its collaborative efforts with Katalon in driving innovation and excellence in digital 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 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, the Czech Republic, Costa Rica and Singapore. To learn more, visit www.cigniti.com.

About Katalon
Katalon is a comprehensive, AI-augmented software quality management platform that enables quality assurance, DevOps and software teams of any size to deliver world-class customer experiences faster, easier, and more efficiently. The platform accelerates end-to-end software development by powering the authoring, execution, and insights of test automation across any app or environment, and flexibly integrates across a team's architecture and processes. Founded in 2016 and servicing customers in over 80 countries, Katalon is headquartered in Atlanta, Georgia. For more info about Katalon, please visit katalon.com.

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

Cigniti Technologies reports the financial results for Q3FY24

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

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

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

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

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

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

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

Hyderabad, February 6th, 2024: Cigniti Technologies Limited, world’s leading AI & IP-led Digital Assurance and Digital Engineering services company, announced the consolidated financial results for the quarter ended December 31, 2023.

For the quarter under consideration, the company's consolidated revenue from operations stood at Rs. 468.02 crore as against Rs. 451.83 crore in Q2FY24.

EBIDTA margin for the quarter ending on December 31, 2023 stood at Rs. 64.57 crore as against Rs. 64.83 crore in Q2FY24.

Profit After Tax incurred by the company for the quarter ending on December 31, 2023 stood at Rs. 48.04 crore as against Rs. 45.86 crore in Q2FY24.

Commenting on the results, Mr. Srikanth Chakkilam, Chief Executive Officer, "Closing the third quarter of FY24 on a strong note, Cigniti Technologies has showcased resilience and growth amidst industry challenges. Our sequential revenue growth underscores the efficacy of our robust business practices and the steadfast execution of our strategies. The company won six new clients, made significant progress in generating opportunities for Digital Engineering services in existing accounts, and our pipeline for the rest of the year also looks robust.”

Highlights for the quarter ended December 31, 2023:

  • Revenue from the top 5 clients contributed approximately 27.31% of the Revenue.
  • BFSI, Retail & e-commerce and Travel, Transport & Hospitality sectors contributed in a major way to the revenue for Q3FY24.
  • Revenue splits geographically: North America & Canada – 83.35%, UK & Europe – 8.41%, Rest of the World – 8.24%.

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 4100+ employees 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.

To learn more, visit www.cigniti.com.

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

Cigniti Technologies reports the financial results for Q2FY24

Consolidated Revenue Rs. 451.83 crores and Net Profit Rs.45.86 Cr
Standalone Revenue Rs. 195.91 crores and Net Profit Rs. 29.29 Cr

Consolidated Financial Performance for Q2YF24 v/s Q2FY23 (Corresponding Year)

  • Revenue of Rs. 451.83 crore v/s. Rs. 416.65 crore [8.4%]
  • Reported EBITDA of Rs. 64.83 crore v/s. Rs. 60.76 crore [6.7%]
  • PAT of Rs. 45.86 crore v/s. Rs. 41.53 crore [10.4%]

Consolidated Financial Performance for Q2FY24 v/s Q1FY24 (Sequential Quarter)

  • Revenue of Rs. 451.83 crore v/s. Rs. 439.53 crore [2.8%]
  • EBITDA reported of Rs. 64.83 crore v/s. Rs. 62.07 crore [4.4%]
  • PAT of Rs. 45.86 crore v/s. Rs. 44.56 crore [2.9%]

Consolidated Financial Performance for H1FY24 v/s H1FY23 (Corresponding Quarter)

  • Revenue of Rs.891.36 crore v/s. Rs. 794.63 crore [12.2%]
  • EBITDA reported of Rs. 126.90 crore v/s. Rs. 105.31 crore [20.5%]
  • PAT of Rs. 90.42 crore v/s. Rs. 72.53 crore [24.7%]

Hyderabad, November 03rd, 2023: Cigniti Technologies Limited, world’s leading AI & IP-led Digital Assurance and Digital Engineering services company, announced the consolidated financial results for the quarter ended September 30, 2023.

For the quarter under consideration, the company's consolidated revenue from operations stood at Rs. 451.83 crore as against Rs. 439.53 crore in Q1FY24.

EBITDA margin for the quarter ending on September 30, 2023 stood at Rs. 64.83 crore as against Rs. 62.07 crore in Q1FY24.

Profit After Tax incurred by the company for the quarter ending on September 30, 2023 stood at Rs. 45.85 crore as against Rs. 44.56 crore in Q1FY24.

Commenting on the results, Mr. Srikanth Chakkilam, Chief Executive Officer, said, "We are pleased to see our revenue grow sequentially amid current market conditions, owing to our robust business practices and diligent execution. While we acknowledge the challenges faced by the overall industry in this quarter, we remain optimistic about Cigniti’s future prospects based on our offerings and thought leadership.

"We remain committed to swiftly adjusting to market changes with a strong emphasis on delivering optimal results for our stakeholders. Looking ahead, we anticipate a potential for margin enhancements through the second half of FY24.”, he added.

Highlights for the quarter ended September 30, 2023:

  • Revenue from the top 5 clients contributed approximately 24.60% of the Revenue.
  • BFSI, Retail & e-commerce and Travel & Transport sectors contributed in a major way to the revenue for Q2’FY24
  • Revenue splits geographically: North America & Canada – 83.21%, UK & Europe – 8.45%, Rest of the World – 8.33%.
  • The Board recommended an interim dividend of Rs 3 per share.

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 4100+ employees 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.

To learn more, visit www.cigniti.com.

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

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."

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."

ISG Recognizes Cigniti as “Product Challengers” and “Contenders” in the US and Europe Regions in the ISG Provider Lens™ Digital Engineering Services 2023 Study

Cigniti Technologies, the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company, is delighted to announce its recognition as Product Challengers and Contenders in the ISG Provider Lens™ Digital Engineering Services 2023 Study. This recognition is a testament to Cigniti's commitment to delivering innovative and transformative digital engineering solutions to its clients across the US and Europe regions.

  • In the US region, Cigniti has been recognized as Product Challengers in Design & Development, Integrated Customer/User Engagement, Platform & Application Services, and Contenders in Intelligent Operations quadrants.
  • In the Europe region, Cigniti has been recognized as Contenders in Design & Development, Integrated Customer/User Engagement, Platform & Application Services, and Intelligent Operations quadrants.

Srikanth Chakkilam, Chief Executive Officer at Cigniti Technologies, commented, "We are honored to be recognized as Product Challengers and Contenders in the ISG Provider Lens™ Digital Engineering Services 2023 Study. This recognition is a firm step towards our journey of becoming a leading quality-first digital engineering services player and accomplish our stated objectives. This acknowledgment validates our dedication to innovation and our ability to deliver high-quality digital engineering solutions to our clients. It reinforces our position as a trusted partner for organizations seeking quality-led digital engineering services where that can truly accelerate digital transformation and deliver enhanced customer experiences."

Sairam Vedam, Chief Marketing Officer at Cigniti Technologies, added, "We are delighted to receive this recognition from ISG. Being acknowledged as Product Challengers and Contenders in multiple quadrants demonstrates our expertise across different aspects of digital engineering services. This surely elevates our positioning in achieving significant mindshare amongst our customers to become a trusted partner of digital-led business growth. As software sits at the center of every company’s digital charter, our resolve to offer a confluence of AI and IP-led Digital engineering services with an incredible ability to put quality at the digital core is further elevated. This recognition motivates us to have deeper conversations with our customers to understand and accelerate their digital journeys."

Cigniti Technologies and Mahatma Gandhi Institute of Technology (MGIT) Collaborate to Bridge Industry-Academia Gap and Empower Future IT Professionals

Hyderabad, June 23rd, 2023: Cigniti Technologies, the world's leading AI and IP-led Digital Assurance and Digital Engineering services company, has entered into a Memorandum of Understanding (MoU) with Mahatma Gandhi Institute of Technology (MGIT), a prestigious Hyderabad-based educational institution, to launch an innovative training program aimed at bridging the gap between academia and industry.

This association between Cigniti and MGIT aims to equip students with practical skills and technical knowledge that align with the demands of the ever-evolving IT industry. Leveraging Cigniti's industry experience, a customized training program has been curated to empower students with the necessary tech and professional skills, enabling them to excel in their careers. The comprehensive training program will include a robust curriculum aligned with industry requirements, hands-on workshops, and practice labs. Additionally, this collaboration will open doors for real-time projects, guest lectures by subject matter experts (SMEs) from Cigniti, and potential internship opportunities, providing students with invaluable industry exposure.

"MGIT takes immense pride in announcing the signing of a Memorandum of Understanding (MoU) with Cigniti Technologies. This MoU signifies a strong bond between MGIT & Cigniti Technologies, built on shared values and a common vision to empower students and foster excellence. Through this collaboration, we aim to bridge the gap between academia and the industry, ensuring that our students are well-equipped to thrive in the ever-evolving world of technology." - Prof. G. Chandramohan Reddy, Principal, MGIT.

"Cigniti is happy to partner with MGIT to create a dynamic learning experience that combines academic knowledge and practical industry skills. Through this collaboration, we aim to nurture a well-prepared, skilled workforce to meet the industry's challenges. Cigniti brings its extensive expertise and industry insights to the table, leveraging its deep domain knowledge and global experience in technology through the C-ignite program. We believe this collaboration will bring immense value to Cigniti and MGIT."  - Veera Reddy Patlolla, Global Head of HR, Cigniti Technologies.

Along with Veera Reddy and Prof. Chandramohan Reddy, the signing ceremony was graced by the leadership team from both sides.

About Cigniti:
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 learn more, visit www.cigniti.com.

Contact
Midhun.pingili@cigniti.com  (+91 8886093093)

Cigniti Technologies Reports the Financial Results for Q4FY23 and the Fiscal Year FY22-23

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

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

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

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

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

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

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

Hyderabad, May 02nd, 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, and the fiscal year ended March 31st, 2023.

The company’s reported Net Profit for Q4FY23 stood at Rs. 49.24 crore as against Net Profit of Rs. 46.55 crore in Q3FY23.

The Company’s Consolidated Revenue from operations for the quarter under consideration stood at Rs 424.97 crore as against Rs 427.99 crore in Q3FY23.

EBITDA margin for the March quarter was at 16.2% and EBITDA stood at 68.37 crores, up by 109.6% compared to Q4’FY22.

For the last fiscal year FY22-23, Cigniti Technologies reported total revenue of Rs. 1647.58 crore, a 32.7% increase over the previous fiscal year. Net profit for the year was Rs. 168.32 crore, representing a 83.5% increase over the previous year.

Commenting on the results, Mr. C V Subramanyam, Chairman & MD, said, " I am happy that we continued our strong performance in Q4 FY23 and the FY ending March 2023. We have grown by 32% in Revenue in comparison to the previous year and expanded in margins substantially. Consequently, the board has recommended a final dividend of Rs. 3 per share and a special dividend of Rs. 2.50 per share marking the milestone completion of 25 years by the company. Our endeavor to help clients with the digital landscape through a quality-first approach to digital transformation has put us in an enviable position in the Global Market. I am confident we will march ahead and reach newer heights in the years to come.”

Highlights for the quarter ended March 31, 2023

  • Revenue from the top 5 clients contributed approximately 22.8% of the Revenue
  • BFSI, Retail & e-commerce and Travel & Transport sectors contributed the most to the revenue for Q4’FY23
  • Revenue split geographically: North America & Canada – 82.6%, UK & Europe – 8.5%, Rest of the World - 8.9%.

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 4100+ employees 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.

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

Cigniti Technologies provides critical medical equipment to the Gynaecology Facility at the Government MNJ Institute of Oncology, Regional Cancer, Hyderabad, India.

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

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

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

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

By collaborating with Nirmaan Organization, Cigniti aims to reduce the stress on the existing public healthcare system caused by the increase in gynecology-related cases, such as delivery cases in Mother and Child hospitals and tertiary hospitals. This assistance will deliver better healthcare, minimize gynecology referrals to private/tertiary hospitals, and offer a green channel for women on a walk-in basis to decrease the waiting period. With this support, the facility will be able to provide medical attention to at least 1,000 marginalized patients annually.

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. 4200+ Cignitians worldwide help Fortune 500 and Global 2000 enterprises across 24 countries accelerate their digital transformation journey through 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, the UK, the UAE, Australia, South Africa, the Czech Republic, and Singapore.
To learn more, visit www.cigniti.com.

Contact
Midhun.pingili@cigniti.com  (+91 8886093093)

Cigniti Technologies Commemorates Women in Technology Ahead of International Women’s Day.

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

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

Cigniti Technologies Q2FY23 Revenue

Consolidated Revenue Rs. 416.65 crores and Net Profit Rs. 41.53 Cr
Standalone Revenue Rs. 172.64 crores and Net Profit Rs. 26.09 Cr

Consolidated Financial Performance for Q2YF23 v/s Q2FY22 (Corresponding Year)

  • Revenue of 416.65 crore v/s. Rs. 307.90 crore [35%]
  • Reported EBITDA of 60.76 crore v/s. Rs. 31.92 crore [90%]
  • PAT of 41.53 crore v/s. Rs. 22.17 crore [87%]

Consolidated Financial Performance for Q2FY23 v/s Q1FY23 (Corresponding Quarter)

  • Revenue of 416.65 crore v/s. Rs. 377.97 crore [10%]
  • EBITDA reported of 60.76 crore v/s. Rs. 44.55 crore [36%]
  • PAT of 41.53 crore v/s. Rs. 31.00 crore [34%]
Consolidated Financial Performance for H1FY23 v/s H1FY22 (Corresponding Year)

  • Revenue of 794.63 crore v/s. Rs. 572.26 crore [39%]
  • EBITDA of 105.31 crore v/s. Rs. 56.23 crore [87%]
  • PAT of 72.53 crore v/s. Rs. 42.59 crore [70%]

Hyderabad, October 20, 2022: Cigniti Technologies Limited, world’s leading AI & IP-led Digital Assurance and Digital Engineering services company, announced the consolidated financial results for the quarter ended September 30, 2022.

The company’s reported Net Profit for Q2FY23 stood at Rs 41.53 crore as against Net Profit of Rs 31.00 crore in Q1FY23.

The Company’s Consolidated Revenue from operations for the quarter under consideration increased by 10% to Rs. 416.65 crore as against Rs. 377.97 crore in Q1FY23.

EBIDTA reported for the quarter ended September 30, 2022, stood at Rs. 60.76 crore up by 36% compared to Q1FY23.

Management Commentary
Commenting on the results, Mr. C V Subramanyam, Chairman & MD, said, "In the second quarter, Cigniti Technologies ably demonstrated its sustained growth across the verticals, highlighted by our strong Net Profit growth of 10.2%. I am confident that we will continue this growth momentum for the next few quarters.

 I am happy to update that the unveiling of our company's new brand identity has revitalized our efforts to surpass all past expectations. This quarter also witnessed Cigniti Technologies being honored with the 'Outstanding Contributor to the Indo-US Corridor’ award. This is an outcome of the spirited efforts demonstrated by all the Cignitians, propelling us to the forefront of digital transformation in a leading tech-driven market such as the USA.”

Highlights for the quarter ended September 30, 2022

  • Revenue from the top 5 clients contributed approximately 23.16% of the Revenue
  • BFSI, Retail & e-commerce and Travel & Transport sectors contributed the most to the revenue for Q2FY23
  • Revenue split geographically: North America & Canada – 85%, UK & Europe – 8%, Rest of the World 7%.

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 4100+ employees 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.

To learn more, visit www.cigniti.com.

For further information, please contact:

Raveena Shetty
Adfactors PR ltd
Mob: 9769539969
Email: raveena.shetty@adfactorspr.com

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

Cigniti’s Chairman & MD, Mr. C V Subramanyam, Honored With ‘Outstanding Contributor to the Indo-US Corridor’ Award

Cigniti’s Chairman & MD, Mr. C V Subramanyam, Honored With ‘Outstanding Contributor to the Indo-US Corridor’ Award
Hyderabad, 24th  September 2022: Mr. C V Subramanyam, Chairman & MD at Cigniti Technologies, received the award for ‘Outstanding Contributor to the Indo-US Corridor’ at the ‘18th Indo-American Corporate Excellence Awards 2022held by the Indo-American Chamber of Commerce (IACC) on 23rd September in Mumbai. The award was presented to Mr. C V Subramanyam by Mr. Suresh Kotak, Chairman, Kotak Commodities and Mr. Rahul Narwekar, Speaker of Maharashtra Legislative Assembly.

Cigniti is the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company that helps Fortune 500 & Global 2000 companies accelerate their digital transformation journey. The IACC recognizes organizations and individuals that embody the promotion of Indo-US trade and have made outstanding contributions to boosting all spheres of the corporate ecosystem - business, industry, and the overall community between the two nations. In line with this, the award recognizes Mr. C V Subramanyam’s leadership and direction that helped Cigniti quickly grow to develop specialized high-tech capabilities and acquire firms in the US and India.

On receiving the award, Mr. C V Subramanyam said “I am honored to receive this award and grateful to the IACC for the recognition. This award is extremely special as Cigniti leapfrogs into the digital orbit and continuous its journey to accelerate the digital transformation of some of the leading and largest companies in the USA. This award further inspires the collective endeavor to realize our vision of ‘Together, we build a better future through technology-led transformation’. The U.S. is the front runner in digital adoption, and we strive to better Indo-U.S. relations through technology-driven trade in the corridor. 80% of Cigniti’s 4100+ workforce contribute towards the work we do in the Indo-US corridor.”

Cigniti’s Chairman & MD, Mr. C V Subramanyam, Honored With ‘Outstanding Contributor to the Indo-US Corridor’ Award

Cigniti’s Chairman & MD, Mr. C V Subramanyam, Honored With ‘Outstanding Contributor to the Indo-US Corridor’ Award
Hyderabad, 24th  September 2022: Mr. C V Subramanyam, Chairman & MD at Cigniti Technologies, received the award for ‘Outstanding Contributor to the Indo-US Corridor’ at the ‘18th Indo-American Corporate Excellence Awards 2022held by the Indo-American Chamber of Commerce (IACC) on 23rd September in Mumbai. The award was presented to Mr. C V Subramanyam by Mr. Suresh Kotak, Chairman, Kotak Commodities and Mr. Rahul Narwekar, Speaker of Maharashtra Legislative Assembly.

Cigniti is the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company that helps Fortune 500 & Global 2000 companies accelerate their digital transformation journey. The IACC recognizes organizations and individuals that embody the promotion of Indo-US trade and have made outstanding contributions to boosting all spheres of the corporate ecosystem - business, industry, and the overall community between the two nations. In line with this, the award recognizes Mr. C V Subramanyam’s leadership and direction that helped Cigniti quickly grow to develop specialized high-tech capabilities and acquire firms in the US and India.

On receiving the award, Mr. C V Subramanyam said “I am honored to receive this award and grateful to the IACC for the recognition. This award is extremely special as Cigniti leapfrogs into the digital orbit and continuous its journey to accelerate the digital transformation of some of the leading and largest companies in the USA. This award further inspires the collective endeavor to realize our vision of ‘Together, we build a better future through technology-led transformation’. The U.S. is the front runner in digital adoption, and we strive to better Indo-U.S. relations through technology-driven trade in the corridor. 80% of Cigniti’s 4100+ workforce contribute towards the work we do in the Indo-US corridor.”

The event was graced by the U.S. Administration present in India, and senior corporate dignitaries.

About Cigniti:
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 4100+ employees 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.

To learn more, visit www.cigniti.com.

Contact:
Midhun.pingili@cigniti.com  (+91 8886093093)

Cigniti Accelerates a Fortune 500 American Retailer’s Digital Transformation Journey

Dallas, TX, 8th September 2022: Cigniti Technologies, the world’s leading AI and IP-led Digital Assurance and Digital Engineering services company has further strengthened its partnership with a leading American retailer by ensuring superior digital experience to their customers and by accelerating their digital ambitions. The Fortune 500 American retailer and Cigniti recently celebrated their 1st anniversary of the partnership, and they see tremendous scope for growth via digitalization that will assure the retailer’s business outcomes at an accelerated pace.

The American retailer is an established sporting goods recreation retailer in the U.S. with nearly close to 260+ stores across states and a portfolio of 25+ private label brands. It possesses deep consumer connections and growing mobile, omnichannel, and digital capabilities. The company offers a broad assortment of sports and camping equipment, footwear, apparel, and more through its retail and e-commerce platform. The client was looking to accelerate its Digital Transformation initiatives with mobile channel activation, achieve seamless business continuity, elevate its Digital Test CoE, enhance DevOps to integrated DevSecOps, fully automate Data Engineering (Test Data Management) and environment provisioning (Test Environment Management), and set up a real-time dashboard, Verita (Cigniti’s proprietary tool), across small cross-functional teams.

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