Subex Announces FY19 Q3 Results with Consolidated Revenue of INR 8,228 lacs, EBIDTA* of INR 757 lacs

Subex, a leading telecom analytics solution provider, today announced its consolidated financial results for the year ended December 31, 2018.

Performance Highlights for the quarter ended December 31, 2018:

Revenue for the quarter at INR 8,228 lacs as against INR 8,806 lacs in FY19 Q2
Revenue for the 9 months ending 31st Dec 2018 at INR 24,625 lacs as against INR 24,367 for 9 months ending 31st Dec 2017.
Profitability

EBIDTA* for the quarter at INR 757 lacs as against Rs. 1,236 lacs in FY19 Q2
Profit after Tax (PAT) for the quarter at INR 206 lacs as against Rs. 631 lacs in FY19 Q2

Highlights of the Quarter

* Announced the launch of a new brand, CrunchMetrics which is a division of Subex Digital LLP, a wholly owned subsidiary of Subex Limited. CrunchMetrics is an AI based anomaly detection system designed to help organizations discover business opportunities and mitigate risks in real-time. The solution is vertical agnostic and has a wide range of use cases for Telecom, Retail and FinTech verticals at launch

* Launched next-gen fraud prevention solution to help telcos proactively deal with existing and emerging fraud types like digital fraud.

Vinod Kumar, Managing Director & CEO, Subex said, “In line with our Subex 3.0 strategy, the third quarter of FY19 marked our entry into newer verticals through the launch of CrunchMetrics. Additionally, we continue to expand our capabilities on IoT Security and have now expanded it to cover the needs of Oil and Gas and logistics verticals. These have helped us to forge new partnerships that will play a crucial role in our future growth. We will continue to invest in these new high growth areas.

On our core area we have brought about a paradigm shift in managing fraud and risk in digital ecosystem by enhancing our fraud management solution with new digital fraud management capabilities. From a business perspective, the order booking for the quarter was in line with our expectations. However, some of these new deals did not see revenue conversion in the quarter and the same will be reflected in the subsequent quarter.”   

Kodak Alaris and Newgen Software Announce Global Strategic Alliance to Enable Digital Workplace Solutions

Kodak Alaris and Newgen Software Technologies Limited have announced a new global strategic alliance that will provide their customers and channel partners with access to best-in-class solutions to help organizations drive digital business. Under the agreement, Newgen and Kodak Alaris will expand, connect and grow their network by jointly recruiting partners with similar profiles to help sell their solutions. Kodak Alaris scanners are now included on the Newgen certified document scanner list.

The alliance is expected to generate new business opportunities for channel partners that work with Alaris and Newgen across geographies, vertical markets, and applications. It positions Alaris and Newgen as partners of choice for customers around the world looking to leverage the power of their information, reduce cost, save time and optimize business processes.

Through its comprehensive scanner portfolio, scalable capture software solutions and expert managed and professional services, Kodak Alaris enables organizations to automate business processes and take complexity out of information capture. Newgen’s solutions extract greater value from enterprise data systems integrating with content repositories across multiple sites to eliminate redundant processes. Newgen leverages new-age technologies such as cloud, robotic process automation (RPA) with business process management (BPM), digital sensing, enterprise mobility and process analytics to help organizations reinvent their workplaces.

“We’re excited to collaborate with Newgen Software,” said Vanilda Grando, Global Sales Development Director for Alaris, a Kodak Alaris business. “Partners play a key role in delivering value to our customers. Together, we will help organizations make sense of their data, achieve compliance and create transparency and efficiency throughout their operations.”

Alaris has won more Buyers Lab Awards than any other scanner manufacturer, including four Scanner Line of the Year awards. Newgen, on the other hand, has received strong industry recognition from leading analyst firms such as Gartner and Forrester for its robust BPM, ECM (enterprise content management), and CCM (customer communication management) products.

“By harnessing both companies’ best-in-breed technologies, customers can realize all the benefits of a paperless, digitally-driven work environment,” said Diwakar Nigam, Chairman and Managing Director, Newgen Software.“From modernizing manual, time-intensive processes such as customer on boarding and claims handling within the financial services and insurance sector; to streamlining workflows, enabling public sector bodies to effectively deliver digital citizen services; to automating business-critical workflows such as records management or accounts payable within enterprises, Alaris and Newgen are now better positioned to deliver value to our customers than ever before.”

Three Mega IT Expo 2019 Opens with Address by Union Minister Suresh Prabhu

The 27th Convergence India 2019, the 3rd Internet of Things India 2019 and EmbeddedTech India 2019 expos, was inaugurated by Suresh Prabhu, Hon’ble Minister, Ministry of Commerce & Industry and Civil Aviation, Government of India, at the Pragati Maidan, New Delhi, today.

Organised by India Trade Promotion Organization (ITPO) and Exhibitions India Group, the event builds upon Government of India’s ‘Digital India’ and ‘Make in India’ initiatives through a display of a vast array of products pertaining to fields such as ICT, IT & ITeS, broadcast & digital media, emerging technologies & enterprise solutions, virtual & augmented reality, artificial intelligence, robotics, cloud services, etc.

Speaking during the special address at the inaugural ceremony, Suresh Prabhu, Minister, Ministry of Commerce & Industry and Civil Aviation, Government of India said, “This event is a true convergence of technologies and companies from around the world coming together to build a new global technology-driven ecosystem. I believe India has a very important role to play in this new world, not only as a nation capable of adopting new technologies, but also one capable of innovating and producing new technologies. We have many companies in the country that have already made a mark in their respective domains, and they now have the opportunity to work together on building holistic solutions needed for the future we are heading towards. I would like to congratulate Mr. Prem Behl for organising this event on such a scale and I look forward to its continued growth in the years to come.”

Delivering his Welcome Speech, Prem Behl, Chairman, Exhibitions India Group, said “With an annual GDP growth rate of 7.4 per cent, India is already the world's sixth-largest economy and poised to become the fourth-largest consumer market behind the US, China and Japan. Consumer spending is expected to grow from $1.5 trillion to around $6 trillion by 2030. Much of this progress in terms of GDP and consumer buying has happened in the last five years or so.”

Behl added that e-commerce has emerged as the face of new India. With the Indian e-commerce market expected to grow into triple digits to $200 billion by 2026, one of the greatest impacts will be felt by the micro, small & medium enterprises (MSME). Another positive impact of this has been the rise in start-up sector. “Today, many start-ups are focused in mobility, e-commerce and other technology verticals. They are creating jobs and contributing to the economy, so much so that they have become the face of new India.”

During the occasion, Deepak Kumar, Executive Director, ITPO, said, “Interactions and interesting and educational sessions here will strengthen and facilitate government and private initiatives related to Digital India and Internet of Things.”

The inaugural session also witnessed the release of a knowledge paper by MarketsandMarkets, titled “Internet of Things: The Next-Gen Revolution in India”. The document offers in-depth analysis of how India is moving towards a digital economy. It also discusses the growth trajectory of India’s telecom sector and explores reasons for increasing mobile and Internet penetration among masses.

“As a privileged partner of Convergence India 2019, MarketsandMarkets is honoured at the opportunity for furthering the event’s value proposition. Drawing from our thousands of deep-researched reports, we will shine the light on the most relevant trends and disruptions prevalent in telecom, media and IoT. We will present crucial insights on the above three, including their current dynamics, in terms of both the market and under-girding technologies; and meticulous prognoses for six years down the line,” said Sachin Garg - Associate Vice President, Emerging Technologies, MarketsandMarkets.

Dharmendra Pradhan Launches New Reforms, Guidelines to Strengthen Jan Shikshan Santhans

In a bid to boost skill training and entrepreneurship in the remotest corners of the country, Dharmendra Pradhan, Minister of Skill Development and Entrepreneurship, Petroleum and Natural Gas (MSDE) today announced comprehensive reforms for Jan Shikshan Sansthan (JSS), to further strengthen the skills ecosystem benefiting those in the underprivileged sections of society.  The announcements were made today during the National Conference for Jan Shikshan Sansthan (JSSs) which was held today at the AICTE Auditorium in New Delhi; and saw a gathering of more than 700+ people from JSS across India.

Formerly under the Ministry of Human Resources Development, Jan Shikshan Sansthan has been transferred to the Ministry of Skill Development & Entrepreneurship in 2018. Today’s conference saw the release of new guidelines, aligning the JSSs to the National Skill Qualification Framework (NSQF). This marks an important step towards the convergence of all skilling activities under the aegis of one ministry, bringing in transparency and accountability to the entire skilling ecosystem.

Jan Shikshan Sansthan (JSS) has been instrumental in skill training and introducing avenues of entrepreneurship among the socio-economically backward and educationally disadvantaged groups such as neo-literates, semi-literates, SCs, STs, women and girls, slum dwellers, migrant workers. By bringing them under the aegis of the national skill framework, the agenda of today’s event was to align all skilling activities to a common cause of skill development at the district and gram level.

Dharmendra Pradhan, Hon'ble Minister of Petroleum and Natural Gas & Skill Development and Entrepreneurship, said “The emergence of the rural industry as an important growth engine for the economy makes it an imperative for us to stress on skilling our youth in remote districts of the country. JSSs can play an important role in bridging information asymmetry between skill training and market opportunities thereby giving an impetus to the creation of a workforce equipped in technology-driven skills, including in areas like health & wellness, tourism, e-commerce, retail and trade.JSS guidelines have been reformed keeping in mind the diverse stakeholders engaged in running these institutions, and will bring in greater flexibility, transparency and uniformity.”

Giving an overview on the direction being given to JSS, Juthika Patankar, Additional Secretary, Ministry of Skill Development & Entrepreneurship said, “A skilled society is an essential precondition for achieving social and economic advancement for any country. The re-energised JSS form a unique position for themselves and I am certain that their convergence under Skill India will help bring in a mindset shift amongst our rural youth, to make vocational education and technical training as a preferred career choice. Skilling will not only make them independent but will also help in arresting migration from rural areas to already choked metros.”

“Today, out of the 247 active JSS, we already have 43 JSSs established across 42 Aspirational Districts identified by NITI Aayog and we will soon be introducing a few more in the LWE regions to promote skill development of the youth in the region and help them connect back into mainstream economy. I am positive of the change that the JSS will bring to the ecosystem,” she further added.

Release of New Guidelines

The launch of these strategic guidelines is an attempt by the MSDE to re-energize and reinvigorate the Jan Shikshan Sansthans. By aligning JSSs to the National Skill Framework, the Government aims to provide standardised training across sectors. Key highlights of the guidelines are:

Alignment of JSS course and curriculum to National Skill Qualification Framework (NSQF) to standardize training
Decentralization of powers for JSSs- giving more accountability and independence to district administration
To identify and promote traditional skills in the district through skilling / upskilling;
Evidence based assessment system
Easy Online certification
Linking JSS to PFMS (Public Finance Management system) maintaining transparency and accountability of the ecosystem
Creating livelihood linkages
Training of Trainers to develop the capacity through NSTIs (National Skills Training Institutes)

Will Accelerate Digital in Financial Services, Synechron Announces in 2019 Trend Report

Synechron, a global financial services consulting and technology services provider, today released a report, ‘Digital Strategies and Transformation 2019: Methodologies and Practical Approaches,” revealing the top trends it expects to see in financial services technology in 2019 and beyond as firms begin to re-structure to prepare for future technologies.

Based on Synechron’s work with the world’s largest global banks and insurance companies, it has published a report that outlines four key themes for financial services’ priorities starting in 2019 – Ecosystems, Technology-led Transformation, Data as a Horizontal, and Culture Transformation.

Digital Business Ecosystems – Ecosystems will reshape the future of Financial Services as banks look to change the way they engage with and support customers to provide value-added services that reinforce their underlying business ecosystem vision. This may be fuelled by a need to keep up with ‘new’ service providers such as FinTechs and InsurTechs or with traditional Technology companies like Amazon becoming increasingly involved in the banking sector. To be successful, these new Business Ecosystems will need to bring together the firm’s Digital Platform Strategy Mobile, and an open Application Programming Interface (API) approach to ingest data sources from the Internet of Things’ (IoTs’) ‘things’. It will need access to powerful Analytics from the programmable economy to help firms go beyond traditional banking services and think about specific events and experiences where data or distributed business models can enable a better customer experience. This will all need to be supported by an Enterprise Cloud strategy, and it needs to happen now for Banks, Asset Managers, and Insurance companies to shift into a successful digital business.

Technology-led transformation – When discussing digital transformation, it is impossible to strategize on an action plan without a heavy focus on Technology.  In 2019, firms expect to update systems to become future-ready with a modern, flexible technology architecture. This will include accelerating the move from monolithic business systems to a microservices architecture and adopting an Open API strategy to support “beyond banking” business models. In terms of front-end engineering, this means ramping up design thinking for more customer-optimized, usable user interfaces (UIs) that shift to AngularJS. This full-stack technology transformation to a more flexible technology architecture also will require a hard look at Cloud strategy.

Data as a Horizontal – Digital Transformation has been fuelling a massive growth in data available to banks, asset managers and insurance companies available for analysis and further business value. Given the vast amount of data created each day, it is considered one of the banks’ most valuable assets - but only if it is properly mined and the value is extracted. Data analytics, data mining, data lakes, and data visualization tools are essential to assign value to the immense amount of data being created and to use it to better understand and target customers. While 2018 moved AI strategies beyond simple automation to more complex Data Science focused use cases, 2019 will set the stage for the push toward enterprise-scale Business Intelligence and further advancement of Data Science strategies to achieve business return on investment (ROI).  Given the anticipated, continued exponential growth of data, firms should also start to prepare for their five to ten-year data strategies which should think about things like Quantum Computing and Ecosystems.

Culture Transformation – Because banks are re-structuring and rethinking their business strategies to align with a new generation of customers and a new generation of service providers, the culture also must transform to adapt. This will include a change in spending from run-the-bank to change-the bank initiatives, as well change management with a focus on agile workspaces and DevOps. Firms will change to support remote workers from anywhere, and invest in diversity and inclusion initiatives for pluralistic workspaces and teams. Sustainable finance will also be a key trend in 2019 as firms’ appeal to a new generation of customers with different priorities.

"2019 will really push forward the future of financial services and see immense change take place. We expect that this year will see the start of ecosystems that bring together some key technologies that aim to provide more effective methods of engaging with customers. We cannot wait to see what 2019 will bring and look forward to leading the way on this new and exciting journey for financial services," said Faisal Husain, Co-founder and CEO at Synechron.

COLOROTHON Celebrates Colors of Life and Social Cause

Becomes the largest open-air painting session, Enters ‘London Book of Record for largest number of people painting under platform of all age groups’

New leaves are springing up and flowers are blooming in every conceivable color all around you. And the stage for COLOROTHON was Aptly Set Up at Kittur Rani Chennamma Stadium Jayangar, for a Burst of Creativity.

COLOROTHON Season 11 with the tagline ‘Draw Your Imagination’ attracted ten thousand people at the Kittur Rani Chennamma Stadium Jayangar, Bengaluru. The  participants included a diverse groups of teens, adults and senior citizens to color their imagination.

The paintings were a reflection of diverse thoughts, nature and shades of life. Many aspiring artists got an opportunity to interact with established artists as they painted live at the event.

The event was Inauguratedby Worshipful Mayor GangambikeMallikarjun, along with Ramalinga Reddy, Senior Congress Leader, Ex. Home Minister, Govt. of Karnataka in the presence of Sowmya Reddy, Jayanagar MLA, N. Nagaraju, ByrasandraCorporator and Celebrity guests like Actress SamyukthaHornad, and Mrs. InterNations USA 2018 – 2019 Krupalatha Martin Dass; Dr. VaniRao, Founder and Managing Director, Youthphoriya; and Kishore Joseph, Founder Trustee, COLOROTHON and Director, Breathe Entertainment, COLOROTHON Season 11.

 The closing ceremony was presided by Ms. SowmyaReddy , MLA, Jayanagar, who presented the trophies and gift vouchers to the best 15 paintings selected by eminent artists across 5 age groups. All participants were also presented with a participation certificate.

Organized by Breathe Entertainment, COLOROTHON also saw a display of other activities like drums circle, caricature, doodle artist, origami artist, interactive street magic, toonfigures , and many more.

Overwhelmed by the response, Kishore Joseph, Founder Trustee  of the COLOROTHON said “it is an amazing and humbling experience to see people come with their family and spend some quality time in creativity, a rarity in today’s fast-paced world.”

“We seem to have achieved COLOROTHON’s aim of providing a limitless opportunity for imaginative thinking and in the process integrate social cause to raise awareness across all societal divisions. We are donating 300 Best paintings to Om ASHRAM TRUST – OLD AGE CARE  for charity,” he  explained.

Elaborating on social cause segments at the event, Kishore Joseph, Founder Trustee, Breathe Entertainment, said, “There was a talk on self-defence for women by Antra Bhargav - India’s First Woman to receive Black Belt in Taekwondo at the age 5, child abuse awareness workshop by Faith Foundation,  Talk on Memory and Mind education for children by Dr. Manjunth. M.S.  Memory & Mind Coach and a talk on eye donation by the founder of Project Vision Fr. George Kannathanam. In the coming month best paintings will be featured in a world’s  largest open-air painting exhibition, the proceedings from which will go to various charitable organizations.”

Summing up the event Sowmya Reddy said, “We are in absolute delight to have seen people bring out the child in them and make moments colorful. Learning and exploring are two constants in our lives.

SHAREit Claims the Numero Uno Spot as the Most Downloaded Tool App in India in 2018

In a report launched by App Annie, the global provider for mobile data and analytics, SHAREit has emerged as the most downloaded tool app in India. It was also ranked as the application with the third most active monthly user base in India, next only to WhatsApp and Facebook.

SHAREit currently has more than 400 Mn users in India who have installed the application. Out of these over 200 Mn are our monthly active users.

The report also mentions SHAREit amongst the top 5 applications downloaded in India across categories. This huge feat was achieved by SHAREit by deeply understanding the Indian internet user’s behavior as well as their demands. Basis their findings and with the digital revolution taking over, SHAREit started its journey into content by partnering with local Indian content providers.

The application which started as a content sharing application, is now amongst the leading content discovery, consumption, and sharing platforms in the country. Via strategic partnerships with local Indian content provider platforms, SHAREit now streams local digital content such as short videos, movies and music etc. for its Indian users which is available in 9 local Indian languages such as Hindi, Tamil, Telugu, Kannada, Punjabi, Malayalam, etc. With a wide user base especially in tier II and tier III cities, SHAREit has also helped their content partners reach wider audience, especially those unreachable by big players in advertising industry.

Talking about the achievement, Mr. Karam Malhotra, CEO, SHAREit India, said, “We are overwhelmed by the response we have received from India. We find ourselves with a new found sense of responsibility to continuously entertain our loyal users and connect them to them the best of content, gaming and app discovery in 2019.”

“SHAREit regards technology and localization as its most important factor. In the past year, we have worked towards strengthening our team in India with experts from each industry in our 3 markets Delhi, Bangalore and Mumbai. Beyond the metros, SHAREit also has teams who are working hard to expand the applications’ reach and serve our users in tier II and tier III cities. We are on a journey to ensure digital entertainment of all types could be equally accessible by everyone, by becoming the one-stop service platform allowing users to browse, download, and transfer content with ease.” He further added.

To achieve this goal, Karam also said that, “SHAREit welcomes everyone to join hands as our partner, together we could engage SHAREit’s huge user base and wide reach in India. Together, SHAREit and its partners will revolutionize how users discover, consume and share content in India.”