Category: Core Business Services

ERP-driven Business Success and Customer Rights Take Center Stage at Acumatica Summit 2023

by admin on February 5, 2023 in Core Business Services

Cloud ERP Company Surpasses 10,000 Customers, Announces Updated Customer Bill of Rights and Celebrates Customer Success at Annual Event

LAS VEGAS, Jan. 30, 2023 /PRNewswire/ — Acumatica, the world’s fastest-growing cloud ERP company, today outlined how its community of customers, partners and developers shapes business technology that is responsive to the real-world needs of small and mid-sized businesses (SMBs). The company announced these valuable impacts and articulated specific rights customers should expect from their technology vendors in an opening day keynote address at its annual Summit event in Las Vegas, Nev., which was attended by more than 2,800 customers, partners and analysts.

The opening keynote address featured Acumatica CEO John Case, who underlined the cloud ERP provider’s dedication to supporting SMBs as they face the challenges of today’s economy. Case noted that, despite the economic environment, Acumatica continues to grow, surpassing 10,000 customers. He credited the continued momentum to the Acumatica Community, which understands the needs of its customers.

“The Summit is a key touchpoint in an ongoing dialogue that takes place throughout the year in community forums, in meetings and at events,” said Case. “It’s the voices of our customers that drive us all forward in everything we do. Summit is a great opportunity to learn from the entire community – our customers, our partners, our people.”

Case also announced an update to Acumatica’s Customer Bill of Rights, which was initially published in July 2019. The new version expands on core principles to reflect the current business environment and the evolving organizational needs of today’s companies. In a blog post published today outlining each of the ten rights, Case wrote that Acumatica “firmly believes that all businesses have certain core rights in their dealings with technology vendors. Beyond just talking about it, today, we are

Global Retail Core Banking Solution Market Report 2022: Increase in Applications for IoT Solutions in Banking Sector Boosts Growth – ResearchAndMarkets.com

by admin on February 4, 2023 in Core Business Services

DUBLIN–(BUSINESS WIRE)–The “Global Retail Core Banking Solution Market Size, Share & Industry Trends Analysis Report By Component, By Deployment Mode (Cloud and On-premise), By Organization Size (Large Enterprises and SMEs), By Application, By Regional Outlook and Forecast, 2022 – 2028” report has been added to ResearchAndMarkets.com’s offering.

The Global Retail Core Banking Solution Market size is expected to reach $7.4 billion by 2028, rising at a market growth of 9.8% CAGR during the forecast period.

One of the key aspects influencing the market growth is how well the retail core banking solutions help clients manage their finances over a secure channel and provide flexibility in accessing their bank accounts. Additionally, the use of retail core banking solutions gives low-cost funding to banks, aids in their establishment, and maintains an efficient Customer Relationship Management (CRM), which are all predicted to propel market expansion over the course of the projection year. The sector is also growing due to customer mobile and online banking demand.

Banks are under pressure to implement better tactics that may offer their customers straightforward payment options due to the increasing competition from different mobile payment wallets and other Fintech applications, which is expected to drive the market’s growth. The competitors in the market are also focusing on new product launches to maintain a competitive edge.

Market Growth Factors

Increase in applications for IoT solutions in banking sector

Due to their many high-throughput and productivity-boosting uses, networked technologies like edge computing and IoT devices are gaining significant popularity on the global market. Additionally, many vendors are producing IoT devices, boosting the penetration of linked devices in the contemporary business environment. Radiofrequency identification (RFID), low-energy Bluetooth, near-field communication (N.F.C.), low-energy wireless, LTE-A, low-energy radio protocols, and Wi-Fi-direct are standard protocols and technologies used by IoT systems.

Growing demand

2022 fourth-quarter and full-year revenues

by admin on February 3, 2023 in Core Business Services

2022 fourth-quarter and full-year revenues

2022 fourth-quarter revenues of €1.1m (-22%)
2022 full-year revenues of €4.2m, with +2% Software revenue growth and a stable client portfolio compared with 2021
Recognized and increasingly innovative technology
Continued business development and cost optimization strategy

AMA CORPORATION PLC (“AMA”), a pioneer for assisted reality solutions and a publisher and integrator of B2B software solutions for smart workplaces, is reporting its revenues for the fourth quarter and full year in 2022, ended December 31, 2022.

2022 revenues

Consolidated revenues (IFRS) unaudited, in million euros, at constant exchange rates	2022	2021	Change at constant exchange rates
First quarter	1.1	2.2	-52%
Second quarter	1.0	1.8	-44%
First half	2.1	4.0	-48%
Third quarter	1.0	1.3	-18%
Fourth quarter	1.1	1.3	-22%
Second half	2.1	2.6	-20%
Full-year	4.2	6.6	-37%

The AMA Group (“AMA”) recorded €4.2m of revenues in 2022 (unaudited and at constant exchange rates), compared with €6.6m in 2021, with revenues linked to its core business, selling the XpertEye software suite, climbing 2% to €2.5m, while equipment sales (connected equipment and glasses, smartphones) contracted 68%. These trends continue to reflect the wait-and-see approach observed for clients and prospects facing a deteriorating economic environment.

AMA generated these 2022 revenues with more than 490 clients (as many as in 2021), primarily major groups in diverse sectors, including Merck, Alstom, Air Liquide, Boehringer and KPMG.

AMA has continued to work with its main large clients and welcomed 115 new accounts on board in 2022. 87% of the 15 largest clients in 2020 and 2021 (representing more than 50% of bookings) renewed their contracts or placed new orders in 2022. Nevertheless, AMA recorded a reduction in the average basket for its clients, which face an uncertain economic environment leading them to defer or scale back their investments in

Three outsourcing trends to look out for in 2023

by admin on February 2, 2023 in Core Business Services

The IT services market is robust. The sector continues to grow, despite multi-faceted crises, including the hike in energy prices, which have contributed to a seven per cent year-over-increase in the fees of service provider contracts in Q3 2022 (compared to Q3 2021).

However, major changes are taking place in sourcing practices. We’re seeing traditional infrastructure projects, which have long been the core business of providers, taking a back seat. Instead, aspects of the sourcing process that directly contribute to value creation for the enterprise client now have priority. As a result, we’re seeing framework conditions, objectives and rules in the relationship between enterprises and IT service providers change at an astounding pace.

As organisations digitise more of their legacy systems and processes, we’re seeing new requirements for process design that interact closely with the innovations that the IT industry is producing. The need for adjustment in sourcing is increasing all the time. In 2023, organisations will need to realign existing partners’ performance requirements continually and include new service providers in the existing partner ecosystem where necessary. We’ll also see an increase in the number of internal stakeholders who will have a say in the design of IT. Therefore, promoting cooperation between the client’s IT function, the business itself and service providers will be a key success factor for effective sourcing.

Trend 1: Business process outsourcing (BPO) providers will focus on customer value

Traditionally, back-office processes (like accounts and HR) have been the domain of BPO providers, but as more of these processes are digitised, BPO providers are looking beyond their core areas to find new ways to deliver value to clients. Banks and insurance companies have been among the quickest players in the market to react to this development. The range of outsourced value-creation processes is growing and

CGI and Laurentian Bank of Canada extend business partnership

by admin on February 1, 2023 in Core Business Services

Stock Market Symbols
GIB (NYSE)
GIB.A (TSX)
www.cgi.com/newsroom

CGI to expand delivery of banking transformation services over the next five years

MONTRÉAL, Jan. 30, 2023 /CNW Telbec/ – CGI (NYSE: GIB) (TSX: GIB.A) announces today a five-year contract extension with the Laurentian Bank of Canada (TSX: LB) (the “Bank”). Under the new agreement, CGI will help the Laurentian Bank of Canada manage its digital transformation process, while supporting its efforts to improve and simplify the end-user experience for both external and internal customers.

“CGI values its long-standing business partnership with the Laurentian Bank of Canada, which began more than two decades ago,” says Michael Godin, CGI Senior Vice-President, Greater Montréal. “This agreement will enable the Laurentian Bank of Canada to leverage CGI’s institutional knowledge and critical application management services to strengthen operational efficiencies and deliver a better customer experience.”

Over the term of the agreement, both organizations will contribute towards a co-innovation fund, designed to help the Bank leverage CGI’s business and technology services, to deliver an enhanced end-user experience.

“Our new arrangement with CGI enables us to take a more flexible approach to maintaining some of our core business systems and managing resources,” says Beel Yaqub, Executive Vice-President and Chief Information Technology Officer, Laurentian Bank of Canada. “We are also excited to work with CGI to collaborate on opportunities to introduce further innovation into our ecosystem, as we enhance our customers’ digital experience.”

CGI is a valued partner to the banking and capital markets industry by helping financial institutions improve end-to-end customer experience through digital strategies, channels and technologies – successfully executing transformative projects and ensuring market growth for clients as they take the lead in new digital territories. For more, visit CGI.com.

About CGI
Founded in 1976, CGI is among

Danaher Reports Fourth Quarter and Full Year 2022 Results

by admin on January 30, 2023 in Core Business Services

WASHINGTON, Jan. 24, 2023 /PRNewswire/ — Danaher Corporation (NYSE: DHR) (the “Company”) today announced results for the fourth quarter and full year 2022. All results in this release reflect only continuing operations unless otherwise noted. Net earnings refers to net earnings attributable to common shareholders.

For the quarter ended December 31, 2022, net earnings were $2.2 billion, or $2.99 per diluted common share which represents a 25.0% year-over-year increase from the comparable 2021 period. Non-GAAP adjusted diluted net earnings per common share were $2.87 which represents a 6.5% increase over the comparable 2021 period.

Revenues increased 2.5% year-over-year in the fourth quarter of 2022 to $8.4 billion. Non-GAAP core revenue growth was 7.5%, including 7.5% non-GAAP base business core revenue growth.

For the full year 2022, net earnings were $7.1 billion, or $9.66 per diluted common share which represents a 13.5% year-over-year increase. Non-GAAP adjusted diluted net earnings per common share for the year were $10.95, which represents a 9.0% increase over the comparable 2021 amount.

Revenues for the full year 2022 increased 7.0% to $31.5 billion. Non-GAAP core revenue growth was 9.5%, including 8.0% non-GAAP base business core revenue growth.

Operating cash flow for the full year 2022 was $8.5 billion and non-GAAP free cash flow was $7.4 billion.

The Company provides forecasted sales only on a non-GAAP basis because of the difficulty in estimating the other components of GAAP revenue, such as currency translation, acquisitions and divested product lines.

Starting with the first quarter 2023, the Company will revise its definition of base business core growth to exclude revenues related to COVID-19 testing, vaccines and therapeutics, in addition to the exclusion of currency translation, acquisitions and divested product lines.

For the first quarter 2023, the Company anticipates that

CIOs step up to fill plus-size leadership roles

by admin on January 29, 2023 in Core Business Services

With a career path that wound through R&D, product development, advanced supply chain, and technology, Praveen Jonnala is well positioned to lead a global IT organization as well as take the reins of operations and other core business functions.

Jonnala stepped in as CIO at network infrastructure provider CommScope two years ago after more than a dozen years spent at the company in various roles leading business and technology transformation. Today, Jonnala also commands much of the traditional COO portfolio — an expanded set of responsibilities that work given his track record of understanding business needs and translating them into high-impact digital solutions.

CommScope

“Whether you hold an official title or not, we’re now in this era where technology leaders can’t just operate doing a bunch of technology stuff,” says Jonnala, CommScope’s senior vice president and CIO. “There’s greater appreciation from business leaders that technology is what’s driving efficiencies, disrupting products, and underpinning new revenue models. There’s a natural pull to look at CIOs now not just for running data centers and applications, but to be a transformative catalyst for the business.”

While it’s common for others in the C-suite to take on so-called plus-roles, the CIO has historically worn multiple hats without the benefit or glory of a formal title marking their expanded terrain. The successful shift to remote work and accelerated digital transformation during the pandemic years elevated CIOs’ stature, earning trust and recognition from business leaders that was absent in the past. With technology now a pervasive enabler of all aspects of the business, CIOs have the end-to-end visibility and cross-functional insights that other executives lack, not to mention oversight of key enterprise assets such as data and analytics.

“We always had business leaders take on other roles, but the CIO

Leading IT services and cybersecurity firm, Sourcepass, continues to invest in their client’s experience through strategic hire of Chief Client Officer

by admin on January 28, 2023 in Core Business Services

As Sourcepass’ Chief Client Officer, Matt McCarthy will lead the sales, marketing, and client strategy teams, providing strategic direction with a focus on client experience.

NEW YORK, Jan. 24, 2023 /PRNewswire/ — Sourcepass, a leading IT services and cybersecurity firm, has named Matt McCarthy as its new Chief Client Officer.

Matt is driven to disrupt the stale IT services market with heavy innovation to create a differentiated and enhanced client experience. In his new role, he will be responsible for leading the sales, marketing, and client strategy teams toward related company goals. Matt’s experience and leadership enables Sourcepass to continue their hyper-growth journey while delivering maximum value for their clients.

“Matt is a proven leader in building advanced client experience operations over the course of his career,” said Sourcepass CEO, Chuck Canton. “His strategic addition to our team advances our commitment to providing an IT services experience that client’s love.”

“I could not be more excited to join Sourcepass’ accelerated journey to modernize, innovate and disrupt the IT Services industry,” said McCarthy. “With our robust technology portfolio, intuitive client platform and relentlessly passionate team, we are uniquely positioned to drive the success of our client’s businesses.”

A dynamic leader, Matt brings over twelve years of executive management experience in driving customer success. Matt served as the Director of Client Services for iCore Networks when they were successfully integrated into Vonage in 2015. Thereafter, Matt served at Vonage for seven years, starting as the Director of Client Services and advancing to Vice President of Customer Success. In addition to leading Customer Success, he was the VP & GM of a core business platform at Vonage. Most recently, Matt served as the Head of Global Account Management & Customer Relations for a software communications and productivity company, Nextiva.

About

Transforming risk controls for next-level decision-making

by admin on January 27, 2023 in Core Business Services

In an exclusive Risk.net panel session, convened in collaboration with ServiceNow, experts discussed the unique challenges facing risk and resilience practitioners, and the utilisation of frameworks and risk quantification for optimal decision-making across financial services organisations

The panel

John Goodman, Senior vice-president, Cyber Risk Institute
Jack Jones, Chairman, FAIR Institute
Greg Kanevski, Global head of banking, ServiceNow
Moderator: Mark Hofberg, Financial services risk solutions executive, ServiceNow

There is no shortage of rules, methods or digital frameworks in risk management.

The role of risk quantification in decision-making and the value of harmonising regulatory requirements in risk management are key, especially with firms preparing globally for uncertainty against the backdrop of rising inflation and geopolitical pressures.

Navigating this landscape has underscored the need to transform risk assessments – via intelligent automation into digital business processes – to continuously monitor and prioritise risk. The modernisation of risk programmes aimed at continuous monitoring is on the up, providing firms with better and more timely data, and embedding processes within core business operations in a more cost-effective manner.

At the Risk.net panel session with ServiceNow, experts discussed how the speed of change in digital has combined with unprecedented events and market conditions to drive the need for more data and integration, as well as robust risk quantification frameworks to better influence decisions.

Here are the key themes that emerged from the discussion.

Framework application

Over centuries of medical development, two fundamental components have instilled in us an understanding of where we once were to where we are now: experimentation and collaborative learning.

Just as medicine was unable to make greater advances until knowledge of physiology caught up with that of anatomy, similarly, within the frameworks of risk management and cyber security, risk controls are the industry’s anatomy, but the physiology –

Layoffs aren’t the only problem plaguing Big Tech, as giants struggle to innovate

by admin on January 26, 2023 in Core Business Services

Amazon is cutting 18,000 people from its workforce.Mark Lennihan/The Associated Press

The U.S. tech giants that built the digital economy and generated trillions of dollars of wealth in the process are suddenly taking a less costly and less innovative approach to innovation.

A surge in interest rates last year ended an era of cheap capital, clobbered valuations and dammed the flood of money that the pandemic brought to Big Tech. C-suites have been shuffled. Forward-looking features, such as Amazon.com Inc.’s Alexa voice service, are getting less investment, while more wildly speculative projects – say, the metaverse – are proving to be money pits. For all their talk of innovation, companies such as Amazon AMZN-Q, Alphabet Inc. GOOG-NE, Meta Platforms Inc. META-Q and even Apple Inc. remain deeply dependent on the same core business lines of a decade ago.

Cost-cutting is now the norm – more than 175,000 people have lost their jobs in the sector worldwide since the downturn began in late 2021. These days, less is more for Big Tech’s erstwhile big spenders.

“They want to show investors that they’re being responsible,” said Margaret O’Mara, a history professor at the University of Washington and the author of The Code: Silicon Valley and the Remaking of America. She points to the “crazy Christmas parties” of the 1980s personal-computer boom as a parallel: Sooner or later, the market will plateau. Today’s restraint, she said, comes after years of “a baseline where maybe there was a little bit too much exuberant spending.”

Maybe the new era for Big Tech began when Google founders Larry Page and Sergey Brin stepped down as executives from parent company Alphabet in late 2019, just as reports of a strange flu began to emerge from China. Or perhaps it began a couple of years later,