Accenture, SAP Co-Develop Cloud Solution to Help Utilities Companies Supercharge Business Processes

Accenture (NYSE: ACN) and SAP SE (NYSE: SAP) announced they are co-innovating and co-developing the new SAP® Cloud for Utilities solution to help companies more effectively manage business processes and customer experiences. This initiative aims to elevate energy transition and customer experiences, helping companies quickly adapt and thrive in times of change.

SAP Cloud for Utilities will be an end-to-end integrated solution born of Project Elevate, announced in May 2019. The solution is designed to be deployed in a cloud or hybrid environment to help utility companies automate sales processes, freeing up more resources to create meaningful customer experiences that can result in loyalty and revenue. SAP Cloud for Utilities can incorporate intelligent technologies and real-time business insights, building extensive capabilities around marketing, service, commerce, product bundling, self-service, fulfillment of complex services and subscription billing for commodity and non-commodity products.

“Working with SAP and our utility industry co-innovation group to accelerate developing SAP’s cloud-based platform for utilities can enable our clients to better create new experiences for their customers while streamlining back office operations,” said Jean-Marc Ollagnier, group chief executive for Accenture’s Resources business. “These benefits are important for utilities to be more competitive in markets that are under growing pressure due to advancing technology and changing consumer preferences, including better home energy efficiency and increased interest in renewable energy sources.”

The solution will be built on the market-leading SAP C/4HANA® suite, SAP S/4HANA® Cloud and SAP S/4HANA and will use deep product knowledge and industry and customer management capabilities from Accenture Technology and Accenture Interactive. Developers and industry specialists from Accenture and SAP are working together to help create unified, authentic and personalized customer touchpoints. Their mission is to provide unique industry insights, agile methodologies and integration capabilities that accelerate the advanced features of SAP C/4HANA and SAP S/4HANA across marketing, sales, commerce, service, billing and revenue management and customer data. Accenture and SAP also plan to integrate data with Experience Management solutions from SAP and existing operational data to help enable utility companies manage end-to-end core processes, networks and employees more efficiently.

“SAP Cloud for Utilities is our strategic cloud solution, designed to support lead-to-cash processes that can enable utilities to capture new opportunities and develop fresh business models in the dynamic market for innovative commodity and non-commodity products,” SAP Industries Co-President Peter Maier said. “The industry needs to create great customer experiences with integrated solutions for short time-to-market and low cost-to-serve.”

This initiative also includes the formation of an industry co-innovation group comprised of leading global utility companies to help define and design SAP Cloud for Utilities. Fifteen utility companies representing over 100 million customer contracts globally have already joined the co-innovation group including EDP, rku.it, Conergos, Innogy, and MVV. The co-innovation group is still open for utility companies to become early adopters and active contributors.

This agreement further advances SAP’s long-standing collaboration with Accenture, building on years of successful co-development and go-to-market activities related to SAP S/4HANA and across collaboration across multiple industries.

Trend Micro Survey Finds Lack of IT Security for 72% of Companies

Trend Micro Incorporated, a global leader in cybersecurity solutions, today announced findings from a survey that reveal organizational silos create unnecessary security risk for global businesses. The lack of security involvement in DevOps projects was reportedly creating cyber risk for 72% of IT leaders.

In an effort to better understand the DevOps culture, Trend Micro commissioned independent research specialist Vanson Bourne to poll 1,310 IT decision makers in SMB and enterprise organizations across the globe about their organizational culture.

“It’s no secret that developers and security teams have a history of butting heads,” said Steve Quane, executive vice president of network defense and hybrid cloud security for Trend Micro. “We want to help businesses breakdown those barriers by providing technology and solutions that work for developers, IT and security teams. To do that best, we have to understand how the DevOps community and IT security teams collaborate – so we asked them for input directly. Understanding their goals will help us continue to provide solutions that help them do their jobs, and help the end results be secure.”

DevOps is a bigger priority today than a year ago for 79% of companies, but 34% admitted security teams are not always consulted in project plans. This is despite 94% of respondents stating that they have encountered security risks when implementing projects.

This challenge is also highlighted in newly published research from ESG, also commissioned by Trend Micro along with other cybersecurity vendors, which states that only 20% of cloud-native application security product purchases for DevOps projects are actually made by IT security teams. To tackle the issue, ESG found that 68% of organizations have, or plan to have, a centralized team to handle DevOps security.

ESG’s survey found only 30% of organizations include a member of their cybersecurity team from the beginning of their software development process. Trend Micro has designed its solutions to help DevOps and security teams operate more seamlessly.

Intuit QuickBooks Launches QuickBooks Online Accountant for CA's

Intuit QuickBooks has announced the launch of QuickBooks Online Accountant in India - an online practice management solution specifically designed for Chartered Accountants (CAs) to take their practice to the next level. It helps CAs to grow their practice and manage their clients all in one place.

QuickBooks Online Accountant comes with power-packed features to make a CA’s life easier. The real-time client collaboration feature allows CAs to access and manage their clients (QuickBooks Online and non-QuickBooks Online) anywhere, anytime with a single login. CAs no longer have to chase their clients for documents as the product allows them to send and receive documents in real-time. It further enhances their team’s productivity by providing the ability to add projects and tasks and assign them to a team member or client.

QuickBooks Online Accountant is an outcome of extensive research via ‘follow me homes’ done over the course of one year. The Intuit QuickBooks team did over 1,000 ‘follow me homes’ with CAs in India to understand the challenges they face while running their practice. The four major pain points that came out of the exercise were time wasted on manual data entry, chasing clients for information, multiple steps and tools required for GST filing and complex process involved in input tax credit reconciliation.

“QuickBooks Online Accountant eliminates the dependency on multiple solutions for CAs. Now they can use a single software to manage all their clients’ accounting, file GST returns and manage their practice. QuickBooks Online Accountant will ease their daily tasks and give them the extra time they need in a day,” said Aditi Puri Batra, Country Manager, Intuit QuickBooks India. “Well-equipped accountants are an increasingly invaluable resource in India where the number of small businesses is growing rapidly. Accounting professionals play an important role in fuelling small business success. Globally we have found that 75 percent of accounting professionals agree that using QuickBooks Online Accountant has improved their firms’ efficiency.” she added.

QuickBooks Online Accountant follows the launch of QuickBooks Online in 2012, which is one of India’s leading online financial management solutions for small businesses. The two products QuickBooks Online and QuickBooks Online Accountant integrate allowing CAs and their clients (small businesses) to work together in real-time and share information securely. With over 4.5 million customers powered by more than 1 million accounting professionals globally, Intuit’s flagship offering- QuickBooks Online Accountant- does not just allow CAs to manage their practice but helps them to grow it.

The Indian small businesses base is expected to increase from 75 million in 2019 to 105 million by 2024. Currently, over 70 percent of small businesses in India are digitally enabled; in an enhanced productivity stage wherein they are leveraging the benefits of cloud-based solutions such as accounting, customer relationship management and enterprise resource planning. The addressable market for Intuit QuickBooks is 12 million service-based small businesses that use business workflow productivity tools. These small businesses are being served by 0.15 million (1.5 lakh) practising CAs who are now adopting technology and shifting their practice to the cloud to better sever their clients.

“I have been using QuickBooks Online since the product was launched in India. It has been a boon for a small company like ours as all the functionalities can be accessed online. I feel the new product, QuickBooks Online Accountant, will be a great tool as I can run a virtual office from anywhere. I will be able to assign tasks to my staff, track their progress remotely on a real-time basis and coordinate with my clients seamlessly for filings and compliance,” said Karthikeyan Ramamurthi, Chartered Accountant and co-founder of Abidance BPM Services.

The advantages and capabilities of QuickBooks Online Accountant specifically designed for India include:

·         Localised offering
·         Local currency billing (INR)
·         GST Compliant
·         Wholesale billing options (for rebate, discount and value pricing flexibility)
·         Deadline management system
·         Platform to manage the books of the accountancy practice
·         Strong access controls
·         Protected data access
·         Password protection
·         Audit log system
·         Customisable management reporting system and
·         User-friendly for clients across industries

Travel Tours and Tours Money Opens their Sixth Store in Koramangala

Travel Tours, the leisure travel brand of FCM Travel Solutions and Travel Money, Foreign exchange brand of FCM Travel Solutions have announced the launch of a new outlet at Koramangala in Bangalore to further increase their presence in Karnataka. This store will be Travel Tours’ 41st store in India and 6th store in Bangalore.

Travel Money and Travel Tours stores have been designed to give consumers a convenient access with an unbeatable pricing and service quality related to Foreign Exchange and Leisure Travel. The store at Koramangala offers a wide range of travel services by Travel Tours such as Domestic and International Flights, Customized and Group Holidays, Hotels, Car Transfers, Visa, Cruise vacations, Honeymoon packages, Adventure holidays and foreign exchange services such as Buying & Selling Foreign Currency, Multi-Currency Travel Card, Outward Remittances for Educational or Close Relative Maintenance and more.

Speaking about the store launch, Mr. Anand Menon, Brand Leader, Travel Tours, Leisure Travel Brand of FCM Travel Solutions said, “We are excited to launch our 6th Travel Tours outlet in Bangalore at Kormangala, one of the most urban localities in the city, teeming with a young professional population.. The new generation of workforce is willing to spend on experiential activities like travelling and discovering new and non-conventional destinations. This store is designed to cater to the needs of up-market urban millennials who are keen on enjoying short-haul breaks and long-haul trips. Young professional with rising disposable has resulted in a higher number of youth and young families taking multiple, short vacations throughout the year.”

Expressing his thoughts on the launch, Mr. Gagan Malhotra, Brand Leader, Travel Money, Foreign Exchange Brand of FCM Travel Solutions said, “Koramangala is a prime location in Bengaluru that houses modern and tech savvy professionals with rising disposable incomes. Customers in Koramangala will find our services of multi-currency forex card and forex transfer very convenient for their travel purposes. With the addition of this new store, we aim to become the preferred choice of travellers of Bengaluru. Our new store will serve as a one-stop shop solution for these young professionals to not only plan luxury or budget-friendly trips but also for their forex travel needs.  We are positive that Bengaluru will prove to be a highly profitable and growth-oriented market for Travel Money and aid our expansion plan across India with more stores set to launch soon keeping in line with our aim to have 50 plus stores by 2020.”

With the opening of this latest store the national reach for Travel Tours’ extends to a total of 41 stores and Travel Money extends to a total of 43 store across Mumbai, Delhi, Gurgaon, Chandigarh, Kochi and Bengaluru via a combination of owned branches and newly opened franchise outlets.

Machinery Perceived for 3D-Shoe-Uppers Mass Segment to be Displayed at Techtextil 2019

Techtextil India is the leading international trade fair for technical textile and non-woven offering complete solutions of the entire value chain of 12 application areas from Agrotech to Sporttech which addresses all visitors’ target groups. They are now organizing the 7th edition of Techtextil India, which is going to be held from 20-22 November 2019 at the Bombay Exhibition Centre. For the first time at Techtextil India of CMS 202 HP B that can be used for short 2D and 3D knit fabrics and accessories, CMS 303 Ki B TT Sport – a cost and space-saving machine mainly for the 3D shoe-uppers mass segment and CMS 330 Ki W TT Sport with three fully-fledged knittings and transfer systems for the footwear knitting industry by Stoll India Pvt. Ltd will be displayed. This year they will display textile solutions of the latest technologies and innovations at this exhibition.

Many other interesting types of machinery like Fadex AS, a new “super UV protector” to make automotive & transportation textiles more resistant to light; Foron SP-WF, a range of high-performance disperse dyes for polyester sportswear; and Appretan NTR, a water-based textile coating binder that rallies renewable natural ingredients for applications such as tea bags and coffee filters or capsules by Archroma will also participate in Techtextil.

Nanofics coatings that are used to add new functionalities such as hydrophilic, hydrophobic or oleophobic and are deposit in a cost-effective way by Europlasma NV will also participate for the first time in Techtextil India. The sunrise sector of the Indian technical textile industry possesses great potential due to its cost-effectiveness, durability, and versatility within the market. Effective strides were taken by the government of India to boost growth and the development has also played a major role to entice international companies to view India as a strong market for trade.

Techtextil India is a part of the “Technical Textiles & Textile Processing” the brand with actually 8 shows worldwide within Messe Frankfurt’s Texpertise Network comprising 49 fairs that highlight innovations and show what is driving the global textile industry. Messe Frankfurt is one of the world’s leading trade fair organizers, generating around €645 million in sales and employing 2,297 people. The Messe Frankfurt Group has a global network of 29 subsidiaries and 57 international Sales Partners, allowing it to serve its customers on location in more than 160 countries. Messe Frankfurt events take place at more than 40 locations around the globe. The exhibition is an important marketplace to develop new ideas, strengthen existing consumer relations, and gain new business relationships.

Other prominent names from the industry like Aditya Birla Yarns (P T Elegant), Archroma, Coated Sales, Europlasma, Far Eastern New Century Corporation, Ginni Filaments, Groz Beckert, Lenzing Ag India, Lucky International, Montex Glass Fiber, Oerlikon Nonwoven, Park Non-Woven Pvt Ltd, Piotex Textech Pvt. Ltd, PyroTex Industries GmbH, Saint Gobain Adfors, Grindwell Norton Ltd, Sarex Chemicals, Shreenath Adhesives, Suntech Geotextile Pvt. Ltd, Supreme Nonwoven and The Filament Factory GmbH will also be present to showcase advanced technologies and solutions to cater to various application areas of the industry.

Many international contingents like German pavilion, China Pavilion, Taiwan Pavilion will be participating. They aim to tap the potential of the composites industry and promote wider application of advanced composites. While there is a great scope for the composites industry to cater to the global market, the most significant growth driver for the trade and technology of composites is the huge untapped potential of the domestic market which will gain momentum through this platform.

Additionally, Techtextil India Symposium will also be conducted, which is the premier forum for the technical textiles industry (including nonwovens and composites) bringing together top-level speakers, technical specialists and highly qualified professionals across the industry.

The conference will attract speakers and delegates representing the entire cross-section and stakeholders at a common platform, including the leading machinery manufacturers, raw material suppliers, fabric suppliers, the end-product manufacturers, consultants, startups/new entrepreneurs, investors, research and development companies, testing, and certification authorities and industry associations, a major textile institution, etc.

Hinduja Global Solutions Announces Q2 Results for FY2020

Hinduja Global Solutions (HGS) (listed in BSE & NSE) today announced its unaudited Second Quarter and Half Year results for FY2020.

Speaking on the results, Partha DeSarkar, CEO of HGS said: “HGS posted a robust revenue growth in Q2 FY2020, driven by demand across Healthcare and CES (Consumer Engagement Services) verticals. Overall revenues for Q2 stood at Rs. 12,906 million, an increase of 11.4% YoY. From a margin perspective, Q2 EBITDA margins improved to 13.3% as per expectations.    Led by growth from existing clients and increased operational efficiencies, all our major geographies have shown strong revenue growth and improved profitability. Healthcare vertical posted strong growth, with higher volumes and new clients going live.

We continue to invest significantly in technology-led BPM services. In Q2, we launched HGS Digital, a new practice focused on providing high-end digital strategy and transformative digital-first solutions to clients. With seven wins in the quarter, we expect HGS Digital to open up big opportunities for us going forward.

The sales pipeline for H2 looks encouraging, and with Open Enrollment and Holiday Season coming up in Q3, HGS is well-positioned to deliver a better second half.” 

Financial Highlight for Q2 FY2020

HGS reported a YoY revenue growth of 11.4% to Rs. 12,906 million
Revenue growth in constant currency terms was 11.5%
EBITDA was Rs. 1,711 million, up by 120.5% YoY; EBITDA margins stood at 13.3%
Net profit was Rs. 491 million, a YoY increase of 9.7%; Net margins stood at 3.8% %
Capital expenditure for the quarter was Rs. 310 million
Generated 179% of the Q2 FY2020 EBITDA into Free Cash due to collections of receivables
Reduction in gross debt of Rs. 270 million in H1 FY2020; As on 30th September, 2019 gross debt was Rs 5,726 million and net cash was Rs 298mn.
Second Interim Dividend of Rs 2.50 /share.

Tata Motors Announces ‘India Ki Doosri Diwali’ Campaign 2019

Extending the festive cheer, Tata Motors announced the launch of its new ‘India ki Doosri Diwali’ campaign, to celebrate the success of its SCV range. Under this offer, for every Tata Motors SCV and Pickup (PU) vehicle bought during the month, the buyer will receive an assured gift through a scratch card system. These gifts range from bumper prizes like gold vouchers of varying denominations worth 5 lakhs, 3 Lakhs & 1 Lakh INR and many more exciting gifts like LED TV, Washing Machine, Mobile Phone, Juicer Mixer & Fuel coupons. The Assured Gift is in addition to the attractive consumer offers on the entire SCV Cargo & Pickup range. The campaign is valid until November 30, 2019.

The campaign has been launched to commemorate the success of Tata Ace, which has sold over 22 lakh units and is the number 1 CV brand in India. Celebrating this achievement, the company has announced a variety of lucrative offers for its SCV, cargo and Pickup customers.

Speaking on the campaign, Mr. Rajesh Kaul, Head – Sales & Marketing, Tata Motors said, “At Tata Motors, we always believe in making customer-centric offerings and maximizing revenues of our customers. Our SCV range offer superior safety, versatile performance in varied conditions, comfort and cost-effectiveness to its customers. We are glad to offer products that have positively changed lives by helping people start and grow their businesses. The buzz around this campaign has led to an increase in footfall across showrooms. We look forward to a boost in sales of all Tata SCVs owing to the ongoing festive spirits as well as the attractive incentives offered on every SCV purchased in this month.”

Tata Motors has planned a marketing campaign across print, radio and digital to communicate the campaign to its customers. The Company continues to keep its promise of delivering best-in-class product and service experiences.

The special offers are applicable to the Tata Motors SCV cargo & pickup range of products comprising of brands such as Ace Gold, Ace HT, Zip, Mega, Super Ace Mint, XL Range, Yodha and the newly launched Tata Intra. The range consists of multiple fuel variants (Diesel & CNG) and applications (ARAI certified Container body, High Deck Load Body, various municipal applications, etc.