Encouraging India Towards An API-Driven Compliance System, Tally Eyes A CAGR Of 30-40% In 3 Years

~Redefines Connected Experience with fully Connected-GST capability and expands global multi-lingual integration, with the all-new TallyPrime 5.0~

With the continued vision to empower the backbone of the Indian economy – the fast-growing MSME sector; Tally Solutions today announced the global launch of the all-new TallyPrime 5.0, elevating its suite of Connected Services. A leading technology company providing business management software, Tally brings a new paradigm in connected services with API-driven tax filing. The launch is in line with the company’s vision to enhance business operations for the mid-mass segment both in India and globally.

The latest version with ‘Connected GST’ will serve as a consolidated interface for all online GST operations, without having to visit the GST portal. This release further strengthens Tally’s connected experience which includes e-invoicing and e-way bill generation capability, WhatsApp integration, etc. Additionally, addressing the increasing demand in the Middle East and Bangladesh, TallyPrime 5.0 adds advanced multi-lingual capabilities that will extend to Arabic and Bangla language interfaces with phonetic support.

The new solution encapsulates an array of unique features including a direct connect* to the GST portal which enables fast data upload/download, GSTR1 return filing, new recon flexibilities, including GSTR-1 recon and GSTR-3B recon features unique to Tally, Input Tax Credit (ITC) at risk identification and ledger creation. The feature also supports end-to-end ‘bookkeeping to return filing’, bringing an integrated experience.

With this new launch and other product pipeline initiatives, Tally is aiming to expand its current user base of 2.5 million+ by 50% over the next 3 years, while eyeing a CAGR growth of 30-40%. Sharing his views, Mr. Tejas Goenka, Managing Director, Tally Solutions said, “We’re continuously innovating our technology to help simplify business operations for MSMEs. Our latest release is designed to make GST filing simpler and hassle-free for Indian businesses. Currently, only a small portion of businesses use API-based filing, but we’re aiming to change that. With this latest launch, our focus is to consolidate the end-to-end GST filing journey of MSMEs, enabling them to save 60%-70% of their time. This release will also give a real-time status of their suppliers’ GST, safeguarding their ITC.”

MSMEs are seeking effective tech solutions for their operations, and TallyPrime 5.0 provides a simple, secure, and reliable solution. It enhances business management with new features and builds on existing ones like e-invoice generation, user-friendly dashboards, WhatsApp integration, and Excel imports. This new launch is in line with Tally’s mission to connect businesses with their ecosystem and elevate user experience. The latest release is free for all active TSS subscribers.

*TallyPrime 5.0 allows online operation for GSTR1, GSTR2A, GSTR2B, GSTR3B and CMP-08.

Rapido Inaugurates New Bengaluru Office, Celebrates Captains, Customers, And Commitment To Empowerment

Rapido, the country’s largest ride-hailing and employment generator platform is proud to inaugurate its new 40,554 sq. ft. corporate head-office in Bellandur (Bengaluru), recognizing the invaluable contributions of its captains and loyal customers. Their trust and loyalty have been bedrock in driving the company's consistent growth and success.

Long-time Captains and customers took the lead in inaugurating the new office, symbolizing their pivotal role in Rapido's journey. The founders followed with a powerful message, reinforcing that the heart of Rapido’s success lies in the synergy between its Captains, customers, and the company.

As the largest ride-hailing platform, Rapido has significantly contributed to generating employment opportunities and empowering women. By providing a flexible and accessible platform for drivers, Rapido has enabled thousands of individuals to earn a livelihood. The company has also actively promoted women’s participation in the gig economy, offering opportunities for women to become independent and financially secure.

According to Pavan Guntupalli, co-founder of Rapido Shared, “Our growth and achievements of becoming the country’s largest ride-hailing and employment generator platform are deeply rooted in the dedication of our Captains, the trust of our customers, and our ongoing efforts to empower women and create employment opportunities. We are thrilled to inaugurate our new headquarters as we continue to scale our operations and expand our services. Inaugurating this new headquarters is a significant milestone. It represents not just a new workspace, but a hub of creativity and collaboration where our team will continue to tackle India’s mobility challenges.”

The new office, designed to accommodate over 700 employees, underscores Rapido’s commitment to providing an inspiring and inclusive workspace. It features modern amenities such as AI-enabled video conferencing systems, a podcast studio, and collaborative spaces like an amphitheater-style town hall. Inclusive facilities, including a Mother’s room, nap pods, and accessible restrooms, reflect Rapido’s dedication to women empowerment and employee well-being.

The grand opening follows the company’s successful $200 million Series E funding round, which elevated its valuation to $1.1 billion. This recent funding boost positions Rapido to accelerate its expansion,

Lam Research Adds 20 India Universities To Initiative To Upskill Future Semiconductor Talent Via Semiverse™ Solutions Virtual Infrastructure

* Marks a major milestone in Company’s efforts to train a targeted 60,000 engineers over 10 years

Lam Research Corp. (Nasdaq: LRCX) announced today that 20 Indian universities will be enabled with the Semiverse Solutions virtual innovation infrastructure to train and develop future engineers for the semiconductor industry. Announced at the SEMICON India conference at Noida, the addition marks a major milestone in Lam’s efforts introduced in 2023, to contribute to upskilling up to 60,000 engineers over the next 10 years in India. Twenty universities were shortlisted from a list of close to 75 that have signed up for the program.

“Lam is committed to fostering the growth of the Indian semiconductor ecosystem. The addition of Semiverse Solutions virtual semiconductor environments to the selected 20 academic institutions will reach more than 2,600 students this academic year across the country and demonstrates significant progress towards our initiatives to help ready the next generation of semiconductor talent in India,” said Rangesh Raghavan, corporate vice president and general manager at Lam Research India.

Closing the Semiconductor Talent Gap in India

The semiconductor industry faces a major talent shortage to meet anticipated future demand. Educating future semiconductor engineers is even more daunting as it is cost-prohibitive for academic institutions to provide physical access to the most advanced nanotechnologies. Simulating real-world labs virtually provides greater democratization of engineering skills training, improved sustainability, and greater access to new talent pools in an increasingly computer-aided design world.

After a successful pilot at the Indian Institute of Science (IISc), Lam signed a tripartite memorandum of understanding with the India Semiconductor Mission (ISM) and IISc for the broad deployment of Semiverse Solutions to key universities in the country. Lam has previously announced a contribution of $29 million in software licenses towards the MoU, while ISM would support the establishment of infrastructure and operational costs. IISc will “train-the-trainers” at the selected universities, while Lam will deploy a dedicated team of employees to support the expansion across the country.

“Launched during Prime Minister Narendra Modi’s state visit to the US in 2023, the Semiverse Solutions training program is critical to achieving our skilling objectives to develop the talent needed to support the anticipated growth of the semiconductor industry,” said Akash Tripathi, CEO, ISM. “This program is an excellent example of what can be achieved when government, industry, and academia work towards a common end.”

The 20 universities will be enabled to use SEMulator3D®, a powerful 3D semiconductor process and integration modelling software that is part of the Semiverse Solutions™ platform, with a goal to accelerate India’s semiconductor education and workforce development objectives. The software is used by the world’s largest semiconductor companies, manufacturers, and foundries to model complete process flows and predict downstream ramifications of process changes that would otherwise require build-and-test cycles in the fab. Using SEMulator3D® is expected to help students learn to develop process flows and perform automated virtual experiments at significantly lower cost, and environmental impact.

“Students at IISc have realized exceptional value through the SEMulator3D enabled program and we are excited to replicate the success of the pilot and significantly improve the employability of graduates and post-graduate students in semiconductor manufacturing across the country,” said Professor Srinivasan Raghavan, chair of the Centre for Nano Science and Engineering at IISc.

Lam Continues Leadership Role in Accelerating the India Semiconductor Ecosystem

Today’s announcement is the latest in a series of actions from Lam intended to foster innovation, collaboration and the pipeline of talent in India’s growing semiconductor ecosystem. Earlier this week, the company launched the Lam Research Challenge competition to inspire university engineering students and broke ground in Bengaluru on what is expected to be one of the most advanced systems labs in the country at Lam’s India Center for Engineering – a new facility that will expand capabilities for designing, on-tool testing, and validation of semiconductor manufacturing processes, thereby potentially shortening engineering design cycles. Lam also announced earlier this year its plans to expand its global supply chain to include India and is exploring India-based suppliers who can collaborate to fulfil the need for precision components, custom parts, high purity gas delivery systems and other assemblies that go into cutting-edge semiconductor wafer fabrication equipment.

About Lam Research

Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam’s equipment and services allow customers to build smaller and better performing devices. In fact, today nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com.

Sabre Bengaluru Celebrates The Success Of Blitzcode 2024: A Showcase Of Innovation And Collaboration

Sabre Bengaluru GCC is thrilled to announce the successful conclusion of its annual innovation event - Blitzcode. The sixth edition of Blitzcode exemplified the spirit of innovation and collaboration at Sabre, reinforcing the company's dedication to solving real-life challenges through state-of-the-art technology and developing new products and solutions for the travel and hospitality industries.

This year, participants competed in two distinct categories:

Eureka Gallivant: Teams were challenged to devise solutions that significantly impact customers, enhance existing products, and introduce new functionalities to drive growth and revenue.

Strong Core: The focus of this category was on making products more stable and secure, improving overall quality, and increasing customer satisfaction.

Participants leveraged the latest Gen AI technologies, and Cloud platforms such as Google Cloud, to develop innovative solutions in response to complex industry challenges. Over 35 teams, comprising of 200+ employees, coded and prototyped for over 1000 hours. The event showcased remarkable creativity and technical prowess, which will help Sabre in its mission to build towards tomorrow and reimagine the future of travel.

The event concluded with an awards ceremony, where the winners were rewarded with cheques and certificates by Kurt Ekert, Sabre’s President & CEO, during an employee all-hands. Team Optimization Jedis came in first place with their innovative idea for an in-house AI explanation tool, GenRO Innovators secured second position, and team SkyGuardians took the third spot. Additionally, 15 teams will receive the ‘Making a Difference’ prize for successfully deploying their solutions within six months, underscoring the event's tangible impact on Sabre's commitment to fostering innovation.

Reflecting on the success of the hackathon, Sriram Gopalswamy, Vice President, Site Reliability Engineering & MD, Sabre Bengaluru, said: “Beyond the competition aspect, over the past several years, Blitzcode has been an exceptional catalyst for upskilling and fostering innovation by motivating our team members to solve business challenges for our customers. We take a lot of pride in the solutions that have emerged from Blitzcode, which will not only propel growth for our customers, but will have an undeniable impact on the travel ecosystem as a whole.”

Garry Wiseman, EVP and Chief Product Officer at Sabre, added: “I was thrilled to see the innovation and collaboration that was on display this year during Blitzcode - an event that embodies Sabre's unwavering commitment to innovation, collaboration and fostering a culture of problem-solving for our customers. While many organizations look at coding events such as this to develop blue-sky ideas, Blitzcode is a unique initiative that focuses on creating real-life solutions to use in everyday operations. The benefits can be seen as direct improvements in our offerings, and accelerated deployments for our customers. The prospect of these solutions elevating our customers' experiences and contributing to the future of travel fills me with great pride and enthusiasm.”

Blitzcode 2024 has once again proven the power of collaboration and innovation at Sabre Bengaluru GCC. The event enabled teams to tackle important industry challenges, resulting in production-ready solutions that will undergo rigorous testing over the next few months, before being rolled out to Sabre’s customers and partners.

About Sabre Corporation

Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveller experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre’s technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visitwww.sabre.com

About Sabre Capability Center (GCC), Bengaluru

Sabre’s vibrant capability center at India’s silicon valley, Bengaluru plays a major role in developing industry-leading solutions for the travel business and provides a strong IT backbone to global operations. We operate the Sabre Hospitality Solutions and Sabre Travel Solutions businesses in India. Sabre India’s sales team provides support to the airline, hotels, travel agencies and travel management community across the country. The journey which began in 2005 with just nine employees has grown stronger with each passing year & stands at a current headcount of 1500+ and is growing steadily. Sabre Bengaluru GCC is among the largest centers for Sabre outside of the US, and continues to evolve and grow alongside our peer centers globally for Sabre – Dallas – USA, Krakow – Poland. A workplace where agile transformation practices based on lean start-up thinking are built on a daily basis, the GCC in Bengaluru has been consistently featured in the ‘Great Places To Work’ (GPTW) rankings.

Track3D, An Unified Reality Intelligence Platform For Construction, Secures $4.3 Million Seed Funding

* Plan to expand workforce in India and open a new office within the next year to support its growth trajectory

Track3D, an AI-first startup pioneering a groundbreaking reality intelligence platform for the construction industry, announced today that it has secured $4.3 million in seed funding. The round was led by Endiya Partners, with participation from Shadow Ventures, Monta Vista Capital, and others. This investment will drive the adoption of Track3D’s unified reality capture data platform, which is designed for intelligent, comprehensive, AI-powered construction progress monitoring.

“Track3D is a unique example of a vertical, AI-first company shaping the digital transformation of a pivotal sector. We believe the time is now for a unified, data-agnostic construction monitoring solution to realize real-time, accurate and cost-efficient progress tracking and deviation analysis. We're thrilled to back Track3D’s progress, and the team which is driven by the passion to enable structural change in an industry,” says Sateesh Andra, Managing Director, Endiya Partners.

Track3D, co-founded by Chaitanya Naredla ("NK"), Kiran Gutta, and Vineeth Paruchuri, is the built environment’s only AI-first Reality Intelligence Platform. It serves as a central hub for all visual data, transforming reality capture data from a system of record to a system of intelligence. Utilizing visual data from drones, 360 cameras, laser scanners, and mobile devices, Track3D provides actionable insights to enhance project oversight and decision-making within a single intuitive system.

Track3D’s Hyderabad office, with about 100 experts in Product, ML/AI, Engineering, and Support, is central to the platform’s development. They drive key advancements in AI-driven analytics and 3D computer vision, enhancing reality intelligence platforms on both the Web and Mobile.

Beyond technology, Track3D has significantly contributed to the local economy through job creation and partnerships with educational institutions in Andhra Pradesh and Telangana. The company plans to expand its workforce in India and is set to open a new office next year to support its ongoing growth and innovation.

“The financial support from these premiere investors is a testament to how bullish the industry is on the Track3D platform,” said Track3D CEO and co-founder NK Chaitanya. “Reality capture isn’t particularly new, but Track3D’s Reality Intelligence Platform is a first-of-its-kind unified platform that turns raw data into exponentially more valuable information with advanced AI tools. No more guesswork. Whether you’re in pre-planning, mid-project, or final handover, Track3D acts as your platform for all reality intelligence with a level of detail not offered by any other platform. If you can see it, we can capture and analyze it, without the need for BIM.” 

Track3D’s platform has boosted productivity by 15%, improved schedule adherence by 12%, and cut rework costs by 20%, winning enterprise clients like Hensel Phelps and PCI.

”Our partnership with Track3D marks a pivotal shift from juggling multiple reality capture solutions to embracing a unified, standardized platform. With Track3D, we've achieved a perfect synergy of speed, accuracy, and cost-efficiency that's pivotal for modern construction monitoring,” says Thai Nguyen, Director of Innovation, Hensel Phelps. “Since our initial collaboration in mid-2023, we have expanded our operations from a single pilot to over 30 projects this year alone. The responsiveness and robust support from Track3D have been instrumental, setting us on a promising path to scale to 100 projects next year. Track3D isn’t just a tool; it’s a game-changer for the construction industry, redefining how we approach project monitoring and execution."

About Track3D

Track3D, a Bay Area-based AI-first startup with offices in Milpitas, CA and Hyderabad, India, is dedicated to transforming the construction industry with its pioneering Reality Intelligence Platform. As the built environment's only AI-first unified reality data capture platform, Track3D serves as the central hub for all visual data, delivering a system of intelligence that transforms raw data into actionable insights. The platform integrates advanced AI tools with data from drones, 360 cameras, laser scanners, and mobile devices into a single, intuitive system. Learn more at https://www.track3d.ai/

Transform Your Ambience With The Versatile Hugo Table Lamp

Goldmedal Electricals, one of India’s leading Fast Moving Electrical Goods (FMEG) manufacturers, proudly introduces the Hugo Table Lamp, a lighting solution designed to function more than just a regular table lamp.

The Hugo Table Lamp is expertly engineered to synchronize light with the beats of the playback music. With 16 million colour choices, adjustable brightness, customizable white balance, and diverse scene modes, you can tailor the lights to your precise preferences. Designed for convenience, the Hugo Table Lamp is powered by a USB cord. This lamp adapts to your needs, enhancing your space whether you're reading, relaxing, or entertaining.

Key features of the Hugo Table Lamp include:

·         Voice Control: Compatible with popular voice assistants for hands-free operation—control power, brightness, and modes via voice commands.

·         IR Remote Control: Adjust brightness, colour temperature, and modes from anywhere in the room with the included remote.

·         CCT Lamp with Swivel Function: Easily dim or brighten the head lamp to match your needs, control the direction for reading light or ambient glow, accordingly.

·         Multiple Scene Modes: Choose from 13 modes to suit any atmosphere.

·         Smart App Control: Operate remotely via Google Assistant or Amazon Alexa for timers, brightness, and scene selection.

·         Music sync mode & timer function: Switch between multiple rhythmic light modes and synchronize with playback music. Also set timer for the light as per your need.

·         Power supply: Can be powered by a power adaptor or a USB cable.

Mr. Bishan Jain, Director of Goldmedal commented "Our goal with the Hugo Table Lamp was to create a lighting solution that not only enhances the aesthetic of any room but also offers smart, intuitive control. With features like voice control, multiple scene modes, and smart app integration, the Hugo Table Lamp is designed to fit into the modern lifestyle, for convenience of our customers."

The Hugo Table Lamp is available now on Amazon at just Rs. 9999/-. Additionally, it comes with a one-year warranty.

OutSystems And KPMG Announce New Survey Exploring AI And The Future Of Software Development

* Redefining “impossible” legacy projects, 75% of software executives see up to a 50% reduction in development time with increased AI and automation

As the reach of artificial intelligence (AI) expands, IT leaders are exploring new use cases for technology used throughout the software development lifecycle (SDLC), according to a new survey launched today titled “AI in software development: Exploring opportunities and uncertainties” by OutSystems, a global leader transforming how companies innovate through software, and KPMG, a multinational professional services network.

The research surveyed 555 software executives around the world whose companies span IT consultancy services, manufacturing, banking, financial services and insurance among others. 84 percent of respondents reported that their organizations first began to incorporate AI technologies in their SDLCs between six months to five years ago, with the earliest adopters primarily being IT services companies. Across regions, EMEA and North America remain roughly on equal footing, while APAC is steadily catching up.

The findings show that testing, quality assurance, and security vulnerability detection are by far the most widely adopted use cases for AI in software development. Nonetheless, generative AI (GenAI) is set to transform the industry by significantly enhancing these processes and introducing unprecedented capabilities.

75% of software executives have seen up to a 50% reduction in development time by implementing AI and automation.

Early adopters are planning to increase their use of AI in other stages of the SDLC, such as user interface design, code generation, DevOps optimization, and application maintenance. Nearly all respondents are planning to increase their investment in AI-augmented SDLC management over the next two years, indicating that AI will play a central role in driving innovation and competitive advantage in the software industry.

“AI is redefining the impossible,” said Paulo Rosado, CEO and founder at OutSystems. “I’m laser-focused on helping teams compress multi-year legacy modernization projects into just a few months. The latest AI disruptions have brought us the potential to compress these development timelines into even shorter and faster projects. With AI, historically impossible transformation projects are not only possible but easier, cheaper, and faster to accomplish.”

71% of respondents are planning to incorporate AI into application development and SDLC management workflows.

“Right now, the developer’s role is shifting from code writer to code reviewer,” said Rodrigo Coutinho, Co-founder and AI Project Manager at OutSystems. “Large language models (LLMs) are a big help, but they still make mistakes. But as these models evolve, and trust in the resulting code improves, the developer’s role will be more akin to that of an orchestrator and acceptance tester of AI-generated outputs.”

Despite being a nascent technology a couple of years ago, the report found that confidence in the quality of AI-generated code has risen substantially—half of respondents said that the implementation of AI has improved software quality, enhanced decision-making, and increased efficiency in software testing and quality assurance.

But confidence is also paired with risk awareness surrounding tech debt in the form of orphan code and hallucinations, a lack of context for an organization’s specific coding needs, and scalability concerns. With strategy baked into AI in SDLC processes, 56% of respondents said they experienced or expected to experience a higher quality of applications, with fewer bugs and improved performance.

Data privacy and security concerns remain the primary barriers to broader adoption.

The AI opportunity is undeniably huge, but its wider adoption in other areas of the SDLC beyond software testing and vulnerability detection still face some barriers. Chief among these are data privacy and security concerns (56% of respondents) and regulatory and compliance challenges (42%). Moreover, 38% of executives cite difficulties integrating generative AI into existing workflows as the primary barrier to adoption.

“There’s a lot of speculation on what will change with the rise of GenAI,” said Michael Harper, Managing Director at KPMG U.S. “While there will be challenges, those with effective change management initiatives will reskill and upskill their workforces, leading to AI and jobs evolving in tandem.”

One-third of respondents said they had a backlog of between 150 and 800 use cases for GenAI.

The speed and sprawl of AI, namely GenAI, is paving the way for an increase in investments for nearly all respondents.

But risks concerning the reliability of AI-generated code persist, though they can be mitigated with existing approaches, such as user acceptance testing, unit testing, and regression testing. “It’s up to the developer working with AI to guarantee the quality of the deliverables, but this becomes way more efficient with AI,” said Coutinho. “AI is, in fact, a great partner in creating tests in synthetic data.”

Other oft-cited concerns were the limited availability of skilled personnel and difficulties integrating GenAI into existing tech stacks and workflows. Fears of job losses are high as well, with 89% of respondents claiming that certain roles will be eliminated by AI. This falls in line with a broader industry trend over the last couple of years. However, in the longer term, AI may well create more jobs than it displaces, resulting in a new type of developer, equipped with specialized AI skill sets.

About OutSystems

OutSystems is a global leader transforming how companies innovate through software, empowering IT leaders with a better way to build the software that matters most. The OutSystems platform helps companies develop, deploy, and maintain mission-critical applications by unifying and automating the entire software lifecycle. With OutSystems, organizations leverage GenAI to deliver software instantaneously, adapt faster to changing requirements, and reduce technical debt by building on a future-proof platform. Helping customers achieve their business goals by addressing key strategic initiatives, OutSystems delivers software up to 10x faster than traditional development. Recognized as a leader by analysts, IT executives, business leaders, and developers around the world, global brands trust OutSystems to tackle their impossible projects and turn their big ideas into software that moves their business, people, and the world forward.

Founded in 2001, the company’s network spans more than 750,000 community members, over 500 partners, and active customers in 75+ countries across 21 industries. Learn more at www.outsystems.com.