Author - Ramakrishna Rallapalli

Dallas, Aug 1, 2024: Cigniti Technologies Limited, a Coforge company, the world’s leading AI & IP-led Digital Assurance and Digital Engineering services provider, today announced that it has been positioned as a Leader in the Quadrant Knowledge Solutions Spark Matrix™: Digital Banking Services, Q3 2024. Last year, Cigniti was positioned as a Strong Contender in the same report.

Achieving the Leader position within a year is a testament to Cigniti’s substantial progress made through strategic enhancements and the collaborative efforts of the talented team. This recognition reinforces the company's position as a front-runner in the digital banking landscape, committed to continuous improvement and excellence.

The report highlights Cigniti's strengths in collaborating with partners for AI and ML-driven digital lending and risk management solutions that enhance loan origination, credit decision-making, and operational efficiency.

Cigniti's BlueSwan™ platform component, Velocita, offers advanced testing and automation for BFSI applications with configurable RPA frameworks. Additionally, Cigniti’s ISO 20022 migration services enable faster digital payments integration, fraud prevention, and improved automation analytics.

“This milestone underscores our capabilities in the digital banking sector and our focus on leveraging cutting-edge technologies to drive value for our clients. Our journey from being a Strong Contender to a Leader in the Spark Matrix™ is a significant accomplishment that motivates us to continue innovating and enhancing our service offerings. Our team’s dedication to delivering excellence and our strategic partnerships have played a crucial role in this achievement. We will continue to push the boundaries to ensure that our clients receive the best possible solutions to meet their digital banking needs,” said Sairam Vedam, CMO, Cigniti Technologies.

For media inquiries, contact: mediarelations@cigniti.com

About Cigniti:

Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758), a Coforge company, is the world’s leading AI & IP-led Digital Assurance and Digital Engineering services provider. Headquartered in Hyderabad, India, Cigniti’s 4200+ employees 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.

Learn more about Cigniti at www.cigniti.com and about Coforge at www.coforge.com.

Dallas, TX, July 30, 2024: Cigniti Technologies, the world's leading AI & IP-led Digital Assurance and Digital Engineering services company, today announced it is a technology alliance partner with UiPath, a leading enterprise automation and AI software company. This strategic collaboration aims to leverage the strengths of both organizations to deliver unparalleled automation solutions to clients.

QA QC competency
By integrating enterprise automation, hyper-automation, and cognitive automation, Cigniti Technologies is enhancing customer experience, optimizing costs, and driving efficiency. As a UiPath partner, Cigniti helps ensure streamlined operations, reduced manual effort, and reliable, efficient results tailored to industry-specific needs for its customers. Cigniti’s extensive expertise in Digital Engineering, combined with a proven track record of implementing the cutting-edge UiPath enterprise automation and AI platform, positions the company to deliver comprehensive automation strategies. This partnership drives digital transformation and operational excellence across various industries.

The UiPath Business Automation Platform offers end-to-end automation for business processes. There are four key factors that business leaders seeking to embed AI in their automation program must keep top of mind: business context, AI model flexibility, actionability, and trust. The new AI features of the UiPath Platform address these key areas to ensure customers are equipped with the tools necessary to enhance the performance and accuracy of GenAI models and tools and more easily tackle diverse business challenges with AI and automation. This enables more sophisticated automation with AI capabilities such as document understanding and intelligent document processing and provides sophisticated analytics to measure the business impact of automation.

This pervasive automation-first approach is proven to be both substantial and transformative. It allows everyone – from automation developers and testers to citizen developers and business end-users – to collaborate and put automation squarely at the core of everyday work.

By integrating Cigniti's Intelligent Automation Services with the UiPath Business Automation Platform, businesses gain improved efficiency, accuracy, and scalability, and reduced operational costs, empowering them to stay competitive in a rapidly evolving market.

Speaking about the partnership, Sairamprabhu Vedam, Chief Marketing Officer of Cigniti Technologies, said, "We are thrilled to announce our technology alliance partnership with UiPath. By combining our expertise in AI and IP-led digital assurance and engineering services with UiPath's leading enterprise automation and AI technology, we are poised to revolutionize the automation landscape. This collaboration enables us to enhance our automation solutions and deliver unparalleled efficiency, innovation, and value to our clients, driving transformative outcomes in their digital journeys. Being a UiPath partner is indicative of our advanced delivery skills and demonstrated success in real-world customer projects. We are excited about the opportunities this collaboration brings and look forward to a successful journey together."

For media inquiries, contact: mediarelations@cigniti.com.

About Cigniti Technologies
Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758), a Coforge company, 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 & 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.

Learn more about Cigniti at www.cigniti.com about Coforge at www.coforge.com.

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

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.

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

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

Dallas, 19^th 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

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