The Cohesive Companies Announces the Acquisition of Professional Construction Strategies Group Ltd

The Cohesive Companies, a digital integrator investment of the Acceleration Fund of Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced its acquisition of Professional Construction Strategies Group Ltd, (PCSG). Founded in 2000 by Katherine Bew, chaired by Dr. Mark Bew MBE, and headquartered in Croydon, UK, PCSG has developed world-leading methodologies, talent, and experience in advisory services to built-environment owners for transformative benefits in going digital, advancing BIM and GIS through infrastructure digital twins. Now within The Cohesive Companies, the organization can dramatically grow its advisory scope (already at over 50 professionals), both in global scale and to reach all infrastructure sectors.  

Greg Bentley, Bentley Systems’ CEO, said, “Mark Bew’s visionary thinking about the potential of BIM advancement through digital twins has spearheaded the UK’s world leadership in digital ambitions for infrastructure, and has also inspired us at Bentley Systems. We recognize that owner-operators need advisory services to guide their transformations to digital workflows – and that all of us in their ecosystem benefit from expert consultancy services propagating best practices in digital twin adoption.  

“Accordingly, we’re determined to catalyze the market development of digital integrators through our Cohesive portfolio developments. As so many sector-leading infrastructure owners have strongly endorsed the PCSG team and their results, the opportunity for Cohesive to join forces with Mark and Katherine Bew to globalize their work is fortuitous.” 

Noah Eckhouse, The Cohesive Companies’ CEO, said, “We are pleased to welcome Mark and Katherine and the entire PCSG team into The Cohesive Companies. Our sole mission as an autonomous digital integrator consultancy is to support owner-operators and their supply chains in going digital, contributing to great outcomes for our clients independent of their investment choices among technology vendors. From iTwins to Maximo, from cloud to mobile, this leverages our uniquely cohesive digital twin expertise, beyond resourceful technology implementation, in change management, business process redesign, and – now expanded through PCSG’s leading advisory services – strategy consulting.” 

Dr. Mark Bew MBE, Chairman of PCSG, said, “Katherine and I are delighted to be joining The Cohesive Companies. Deepening what we can offer to existing clients, while at the same time broadening our scope through this comprehensively global organization, is a very exciting opportunity for us, our clients and our partners. 

“Our vision is one of infinitely smarter futures where a digitally engineered built environment supports the delivery of infinitely better social, environmental and financial outcomes. I particularly want to thank our world-class PCSG team and our farsighted clients for enabling and embracing this tremendous opportunity to accelerate the realization of this vision.” 

Icertis Launches Supplier Onboarding and Diversity Compliance Application

Icertis, the contract intelligence company that pushes the boundaries of what’s possible with contract lifecycle management (CLM), announced today a new application built on the Icertis Contract Intelligence (ICI) platform that provides hassle-free supplier onboarding and support for supplier diversity compliance. The Icertis Supplier Onboarding and Diversity Compliance application allows organizations to quickly evaluate suppliers and rapidly onboard them, while providing collaboration capabilities to ensure suppliers are compliant with organizational and customer policies, including supplier diversity initiatives and environmental sustainability programs.

Supplier onboarding has traditionally been cumbersome and time-consuming, and rapidly changing regulatory environments have added complexity to the compliance process. Fragmented onboarding practices can result in limited supplier information capture and poor visibility into whether suppliers meet a company’s diversity, sustainability, and regulatory obligations. Further complicating the onboarding process is a lack of collaboration capabilities and integration with existing systems, which can become a hurdle in adoption, usage, and compliance.

“Whether during business as usual or times of crisis, companies need not only agility to access badly needed supplies and services, but also a framework that mitigates risks,” said Nick Heinzmann, Research Analyst, Spend Matters. “A fully effective solution should link initial information collection with ongoing maintenance and compliance against the terms of an agreement. Because onboarding is ultimately just one step in a longer process of managing a supplier relationship, the most effective organizations will deploy a solution that addresses both the external risks brought by third parties and the range of potential events that could occur over the course of a relationship.”

To improve communication and accelerate time to value, the Icertis Supplier Onboarding and Diversity Compliance application provides a seamless way to collaborate with suppliers. A self-service onboarding process coupled with rule-based routing allows organizations to rapidly evaluate a large number of suppliers. Additionally, integration with third-party data sources like Dun & Bradstreet and supplier risk management software allows organizations to cross-reference supplier information, enabling informed qualification decisions. Other features include the ability to automatically add clauses related to Disadvantaged Business Enterprise (DBE) programs; define supplier policies, documentation and data requirements to ensure compliance; and integrate with major business applications like sourcing, ERP, P2P, and more.

“Being able to effectively manage the supply chain is vital to an organization’s long-term success, and the importance has only increased as the COVID-19 pandemic disrupted assured supplier relationships, resulting in a rush to identify new suppliers and onboard them quickly,” said Neal Singh, COO, Icertis. “This application helps companies struggling to conform to multiple supplier management policies and protocols, such as required documentation, diverse supplier commitments, environmental sustainability plans, and contract evaluations. Because the ICI platform gets smarter with every transaction, companies can now leverage their contract intelligence to capitalize on new opportunities and rapidly respond to challenges today and long after the current crisis has passed.”

About Icertis

With unmatched technology and category-defining innovation, Icertis pushes the boundaries of what’s possible with contract lifecycle management (CLM). The AI-powered, analyst-validated Icertis Contract Intelligence (ICI) platform turns contracts from static documents into strategic advantage by structuring and connecting the critical contract information that defines how an organization runs. Today, the world’s most iconic brands and disruptive innovators trust Icertis to govern the rights and commitments in their 7.5 million+ contracts worth more than $1 trillion, in 40+ languages and 90+ countries.

Pledge Taking Ceremony at the PNB HQ on Vigilance Awareness Week

The nation’s leading public sector bank, Punjab National Bank (PNB) with 1 lakh employees across the nation participated in the Integrity Pledge taking ceremony as a part of Vigilance Awareness Week from 27th October to 2nd November 2020. The pledge is a commitment for highest standards of honesty and integrity at all times and to support the fight against corruption. The pledge was administered by Sh. CH SS Malikarjuna Rao, Managing Director and Chief Executive Officer and Sh. Vijay Kumar Tyagi, Chief Vigilance Officer. Messages from Honourable President of India, Prime Minister of India, Vice-President of India and Central Vigilance Commission were echoed during the ceremony by Executive Directors. 

Theme for this year’s Vigilance Awareness Week is ‘सतर्क भारत, समृद्ध भारत “Vigilant India, Prosperous India”. While taking the pledge, Sh. CH SS Malikarjuna Rao, MD & CEO said that “Everyone must imbibe the quality of being vigilant in day to day routine to protect against untoward incidents. Preventive vigilance takes a very important stage for any organisation, if an organisation is vigilant it will always be strong. Preventive Vigilance is basically a checkpoint to understand if we are adhering to the laid down guidelines. In the interest of newly recruited POs & management trainees, CVC in consultation with PSB’s has issued guidelines to ensure that new staff members are imparted 1 year classroom training as well as on the job training before deployment in to credit division. The scheme was inaugurated by the Honourable Finance Minister, Ms Nirmala Sitharaman.” 

Sh. Rao also emphasized on the need to reinforce our commitment every year & think about incidents happened in last one year. The celebration of the VAW 2020 is to be cautious and alert in our professional and personal lives against all potential risks. The core theme of Preventive Vigilance helps and reminds us to create an atmosphere or an ecosystem wherein members of the PNB parivar do not bring any risks upon themselves or the organisation. 

Sh. Tyagi, Chief Vigilance Officer reiterated message from CVC highlighting that all organisations must focus on enhancement of internal processes & activities. Systemic improvements may be carried out to improve the delivery of services to the public. 

Castrol India Announces Third Quarter (Jul-Set 2020) and 9M (Jan-Sep) 2020 Results

 

·    Revenue from operations increased by 4% (INR 883 Crs vs INR 849 Crs of 3Q 2019)

·     Profit before tax increased by 17% (INR 278 Crs vs INR 237 of 3Q 2019)

·     Growth across all spaces

Sandeep Sangwan, Managing Director, Castrol India Limited says, "I am pleased to say that Castrol India has recorded a strong performance in the third quarter of 2020, while being focused on three priorities during this continuing pandemic – protecting our people, supporting communities and protecting the financial health of our business.

Partial revival of pent up demand, a robust supply chain and distribution network, investment in our brands along with judicious working capital management contributed to us delivering a good set of numbers, including growth across all spaces.

Our team has displayed exceptional commitment to ensure uninterrupted production at our three manufacturing plants, aligned with government safety and health advisories, to meet customer demand as well as new customer wins, acquisitions and virtual customer engagements have been made possible by teams working from home during the lockdown.

Robust working capital management which saw us generate INR 624 Crs net cash from operations in 9M 2020 which is more than 150% of PAT, along with judicious cost and efficiency management programmes have helped us maintain a current strong liquidity and financial position to be able to meet any near-term challenges.

We have focused on brand building initiatives this quarter with our power brands on television and digital media including Castrol Activ, Castrol CRB range and Castrol MAGNATEC.

Two new variants were launched in the cars and two-wheeler category with Castrol GTX SUV and Castrol Activ CRUISE respectively in the thinner oils segment.

Several external recognitions came our way during this quarter. Our Patalganga plant was recognized with the National Safety Council of India Award for its leadership and implementation of HSSE programmes while our Paharpur plant won a platinum award at the Apex India Occupational Health & Safety Awards 2020 and gold at the National Occupational Health & Safety Awards 2020 organized by Indian Chamber of Commerce. We also celebrated a double win at the prestigious Asia Pacific Effie Awards where our marketing campaigns for Castrol Super Mechanic and Castrol Activ nonstop democracy were recognized.

Similarly, we received accolades from our OEM clients with Ford recertifying the Silvassa plant with the Ford Q1 certification, making Silvassa plant the only lubricants plant in Asia Pacific region to hold this coveted award. Castrol India also received the highest rating in Schaeffler’s supplier evaluation on quality, delivery, environment and HSSE criteria. 

In this quarter, we relaunched our CSR community programmes through virtual training initiatives for truckers and mechanics. The trainings have been modified bearing the pandemic in mind and focus on emotional and physical well-being, awareness on health and hygiene practices along with methods to effectively manage finances.

The business has been able to adapt and respond well to the dynamic external environment which is reflected in our third quarter results. The results also highlight our strong fundamentals and give us confidence that we are on track with our strategic sustained profitable business growth as and when economic activities return to normal.

The Board of Directors of the Company has at its meeting held on 27 October 2020 recommended an interim dividend of INR 2.50 per share (2019: First interim dividend INR 2.50 per share; Second interim dividend INR 3.00 per share). The record date for the purpose of said interim dividend is 6 November 2020 which would be paid on or before 26 November 2020.

About Castrol India: Castrol, is one of the world’s leading lubricant brands and has a proud heritage of innovation and fuelling the dreams of pioneers. Castrol India Limited is one of India’s leading lubricants company and has established itself as a pioneer and innovator in the Indian lubricants industry. Its iconic brands such as Castrol CRB, Castrol GTX, and in more recent times power brands like Castrol Activ, Castrol MAGNATEC and Castrol VECTON, are used by millions of consumers and customers across the country. The company also has a presence in select segments like High Performance Lubricants and metalworking fluids in industries as varied as automotive manufacturing to mining to machinery and wind & energy.

Castrol India has a large manufacturing and distribution network in India with three manufacturing plants and a distribution network of 350 distributors who sell to consumers and customers through over 100,000 retail outlets. Castrol sub-distributors also reach additional outlets in rural markets whilst Castrol India also directly services over 3,000 key institutional accounts.

Along with providing world class products and services, Castrol India is focused on safety, compliance and quality as its number one priority.

Harley-Davidson & Hero Motocorp Announce Agreements for Sales and Service in the Indian Market

Embarking on a new journey together, Harley-Davidson, Inc., the legendary motorcycle manufacturer and Hero MotoCorp, the world’s largest maker of  motorcycles and scooters in terms of unit volumes, today announced that the two will ride together in India.

Per a distribution agreement, Hero MotoCorp will sell and service Harley-Davidson motorcycles, and sell Parts & Accessories and General Merchandise riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero’s existing dealership network in India. 

As part of a Licensing agreement, Hero MotoCorp will develop and sell a range of premium motorcycles under the Harley-Davidson brand name.

These actions are aligned with Harley-Davidson’s business overhaul, The Rewire, and the company’s announcement in September to change its business model in India.

This arrangement is mutually beneficial for both companies and riders in India, as it brings together the iconic Harley-Davidson brand with the strong distribution network and customer service of Hero MotoCorp.

About Hero MotoCorp Ltd.

The New Delhi (India) headquartered Hero MotoCorp Ltd. is the world’s largest manufacturer of motorcycles and scooters, in terms of unit volumes sold by a single company in a year — the coveted position it has held for the past 19 consecutive years. The Company has sold over 95 million motorcycles and scooters in cumulative sales since inception. Hero MotoCorp currently sells its products in more than 40 countries across Asia, Africa, Middle East, and South and Central America. Hero MotoCorp has eight state-of-the-art manufacturing facilities, including six in India, and one each in Colombia and Bangladesh. Hero MotoCorp has two world-class, state-of-the-art R&D facilities — the Centre of Innovation and Technology (CIT) in the northern Indian state of Rajasthan, and Hero Tech Centre Germany GmBH. Hero MotoCorp is one of the largest corporate promoters of multiple disciplines of sports, including, Golf, Football, Field Hockey, Cricket and Motorsports. Fifteen-time major winner Tiger Woods is Hero’s Global Corporate Partner.

About Harley-Davidson

Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services. Our vision: Building our legend and leading our industry through innovation, evolution and emotion. Our mission: More than building machines, we stand for the timeless pursuit of adventure. Freedom for the soul. Since 1903, Harley-Davidson has defined motorcycle culture with an expanding range of leading-edge, distinctive and customizable motorcycles in addition to riding experiences and exceptional motorcycle accessories, riding gear and apparel. Harley-Davidson Financial Services provides financing, insurance and other programs to help get Harley-Davidson riders on the road.

Paytm Money Launches ETFs to Help New Investors Diversify and Improve Returns on their Portfolio

 

- ETF can be bought at as low as Rs 16 for Equity & Gold ETFs starting at Rs 44  

- Builds a simple interface on mobile to invest in ETFs or for intra day

- Aims to equip every Indian with an ETF

- Aiming 1 lakh users to invest in ETFs in the next 12 to 18 months

India’s homegrown digital financial services platform Paytm today announced that its wholly-owned subsidiary 'Paytm Money' has launchedExchange-Traded Funds (ETFs)on its platform, post-approval from the Securities and Exchange Board of India (SEBI). These are passive funds that are listed on NSE /BSE and traded like regular equity shares proving the merits of mutual funds along with the return potential of stocks. With this inclusion, the company becomes a comprehensive platform wherein investors from across all financial and knowledge backgrounds can conveniently access ETFs and start investment journey to accumulate wealth for their various financial goals.

Paytm Money believes that ETF is an essential part of an investor's portfolio and all Indians must invest in it. Therefore, the company has made it convenient for new investors by facilitating ETF investments for as low as Rs. 16 in Equity, Rs. 44 in Gold and Rs. 120 for NIFTY. The platform's interactive and easy to use interface helps to track the price changes in the preferred ETFs along with the flexibility to set a price alert. It also updates the live prices of an ETF and empowers investors to place a sell order during the open market hours and receive the money directly in their bank account. Advanced investors can even execute intra day trades in ETF and the simple stop loss/target price orders allow users to automate their risk management.The investor also gets the flexibility to invest via both the Paytm Money app and the Paytm Money website.

Investments in ETFs through Paytm Money is relevant for first-time investors who may initiate an investment with a simple nominal amount. As opposed to actively managed mutual funds, ETFs are a relatively low-cost option since passive fund management results in the funds having a lower expense ratio. For investors putting in smaller amounts, the benefit of compounding, coupled with low fund management costs would enable them to boost the portfolio returns. The app is also tailored to serve as a good long term strategy helping experienced investors diversify their portfolio on a broad-based level. It allows them to raise exposure to both the market leaders of today as well as the prominent sectors poised to grow in future.

Varun Sridhar, CEO - Paytm Money said, “ETFs are investment avenues that everyone should add to their portfolio to earn index or market-linked returns at a lesser cost. At Paytm Money, our efforts have been to democratize and simplify wealth management for all and in the case of ETFs also we have simplified investing for everyone. We are offering a user-friendly interface along with necessary factors that the user may need to make an informed decision and invest in ETFs of their choice conveniently. We are targeting 100k users to invest in ETFs in the next 12 to 18 months through the platform.”

In India, there are 69 different kinds of ETFs available across the index, gold, equity and debt categories with top-performing ETFs such as Aditya Birla Sun Life Gold ETF, Nippon India Nv20 ETF, LIC G-Sec Long Term ETF among others. They have delivered returns to the tune of 18.67%, 10.29% and 8.43%. 

Samhita-CGF, USAID, MSDF and Omidyar Network India Along launch ‘REVIVE’, a $6.85M Facility to Boost COVID-19 Impact in India

In a bid to restore livelihoods lost during the COVID-19 crisis, Samhita-Collective Good Foundation (CGF), the U.S. Agency for International Development (USAID), Michael & Susan Dell Foundation (MSDF) and Omidyar Network India have collaborated to launch a $6.85 million blended finance facility called REVIVE.

The financing facility, also supported by corporates such as Arvind Limited and Godrej Consumer Products Limited and foundations like Brihati Foundation powered by Claris, will provide accessible and affordable capital in the form of grants, returnable grants* and loans to previously employed or self-employed workers and at-risk nano and micro enterprises to either restart and sustain their work or find alternative business opportunities. The facility is expected to reach between 60,000-100,000 workers and enterprises and will give preference to youth and women. REVIVE will also undertake upskilling activities for laid-off youth and informal sector workers.

Priya Naik, Founder and CEO, Samhita said: “In order to alleviate the livelihood crisis and kick-start the economic recovery process, REVIVE will work with companies and foundations to plug the gap around timely, affordable and accessible capital for entrepreneurs and micro enterprises that form critical backbones of businesses and the national economy. This will have a positive impact on economic activity, self-employment, and household consumption, giving families and small businesses the agency to pay their dues, buy daily business supplies and invest in protective gear and other operations to sustain and thrive.”

Ramona El Hamzaoui, USAID/India Acting Mission Director, stated: “The United States and India have a long history of collaboration in the health and development areas, and our cooperative response to COVID-19 builds on this strong partnership.  The COVID-19 pandemic has had a significant negative impact on the global economy, including India and its citizens. The impact on women and youth has been higher. USAID is proud to support REVIVE and its noble effort to help these vulnerable groups with the economic recovery process and to contribute again to their families and their country’s growth and development.”

Rahil Rangwala, Director, Michael & Susan Dell Foundation, added: “COVID has displaced so many workers in the informal sector, and has had a tremendous impact on our economy. REVIVE is a powerful platform aligned with our goal to support programs that bring people back to a road to recovery and reignite the economy. “

Siddharth Nautiyal, Partner, Omidyar Network India, said: “The Covid-19 pandemic has most impacted the vulnerable sections of India and a large chunk of India’s “Next Half Billion”- the vendors, gig-economy workers, small businesses and daily wage earners and low-middle income Indians, whom we seek to serve through our investments. This segment of the population needs immediate financial support to reskill, restock inventories and rebuild resilience. Through REVIVE, we aim to restore livelihoods through accessible and affordable capital thereby giving a much-needed impetus to small businesses and aiding economic recovery’’

The REVIVE Alliance will initiate partnerships with a range of stakeholders, including companies and foundations as fundraising partners, and business chambers, non-banking financial companies, social organisations and prominent sector influencers who will provide robust expertise and implementation support.

Among the companies and foundations that have come onboard, Arvind Limited will support workers from the textile industry who have lost their jobs; Godrej Consumer Products Limited will support beautypreneurs; and Brihati Foundation powered by Claris will support farmers and street vendors.