Persistent Systems today reported the Company's board-approved audited financial results for the quarter ended September 30, 2023 known.

Consolidated Financials for the Quarter Ended September 30, 2023 : 

*Includes impact of one-time expense to celebrate US$1 billion milestone in Q1FY24

Sandeep Kalra, Chief Executive Officer und Executive Director, Persistent:

“We are pleased to announce another quarter of strong revenue growth, driven by customer confidence in our digital engineering and business modernization capabilities. Our proactive approach and adaptability have enabled us to thrive in this uncertain macroeconomic environment, resulting in our highest-ever total contract value (TCV) of more than $475 million in order intake in Q2FY24.

Our recognition as a Challenger in the 2023 Gartner ^® Magic Quadrant ^™ for Public Cloud IT Transformation Services is the result of our continued focus and investment in deepening our hyperscaler capabilities. We continually strive to deliver excellence and are confident we can build on this success.

I am also very proud to announce that we have won the Golden Peacock Award for Excellence in Corporate Governance 2023. This is a recognition of our unwavering commitment to the highest standards of corporate governance."

Q2 FY24: Customer wins and results

Order intake for the quarter ended September 30 , 2023 was $479.3 million in total contract value (TCV) and $315.9 million in annual contract value (ACV).

Key achievements this quarter include:

Software, high-tech and emerging industries

• Providing product development and customer support services for a cloud-based security platform for a global digital communications company
• Pioneered product development for an order management platform to enable results-based advertising for a leading media technology company
• Established greenfield IT and provided managed services for a private equity-backed spin-off of one of the largest providers of business and financial information services

Banking, financial services and insurance

• Building an InsureTech platform and scaling technology initiatives in data and digital transformation for a leading insurance company
• Providing platform development and support services for the entire data estate of a multinational financial services and asset management company
• Modernizing the identity and access management platform for the entire product portfolio of a large US -based financial software company

Healthcare and Life Sciences 

• Modernizing the cross-domain data roadmap across clinical solutions, enterprise and pharmacy customer support, claims and payments integrity, and revenue cycle management for a pioneering health and wellness company
• Established a LIMS (Laboratory Information Management System) and provided product development services to further develop the existing cancer detection platform for a leading precision oncology company
• Building a cloud-based image archiving and communications platform, including a call center management system, leveraging Persistent's proprietary code interpretation platform to transform patient engagement for a leading radiology company

News in the quarter 

• Persistent introduces generative AI solutions in partnership with Google Cloud 
• Persistent achieves Premier Tier partner status in the AWS Partner Network 
• Persistent makes history with three GUINNESS WORLD RECORDS titles 
• Fortune India : Persistent Push for Growth, with Dr. Anand Deshpande 
• The Times of India : Harnessing the potential of Generative AI - A journey from experimentation to adoption, with Dr. Rajesh Gharpure 
• Kizzi's AI Report: The Transformative Power of AI with Rajasekar Sukumar 

Awards and Recognitions 

• Persistent has been recognized as a Challenger in the 2023 Gartner ^® Magic Quadrant ^™ for Public Cloud IT Transformation Services 
• Persistent won the Golden Peacock Award for Excellence in Corporate Governance for 2023 
• Persistent is listed on the Constellation ShortList™ 2023 in the AI ​​Services: Global category 
• Persistent was recognized as one of the top 15 engineering service providers in Everest Group's 2023 PEAK Matrix Engineering Services (ES) Service Provider of the Year™ Awards 

The solution enables faster payment processing with the cloud-based platform

Today Silverflow, the leading cloud-based payment processing platform, announces an exciting partnership with Transaction Services (TRX) to provide current and new clients with more capabilities to enhance the management of customer payments. The Silverflow cloud-based acquirer processing platform enables even greater efficiency in payment solutions for acquirers, merchants, and customers.

Scott Martin, CEO of Transaction Services says, "By partnering with Silverflow, our customers will enjoy quicker implementations and integrations, even greater data insights, and expanded global processing capabilities. Most importantly, we share a mutual commitment to best-in-class customer service and support."

"With the announcement of our expansion into the US market earlier this year, we are thrilled to be partnering with TRX to help US merchants gain more control of their payments." Says Anne Willem De Vries, CEO and Co-Founder of Silverflow. "From advanced functionality like push-to-cards payments to easy reconciliation and insights into interchange and scheme fees, Silverflow can help TRX offer the most innovative payment solutions on the market in the US."

Silverflow's innovative platform harnesses the power of AWS cloud infrastructure, empowering businesses to effortlessly expand their global presence. Our technology simplifies the process of launching new acquiring territories, providing easy access to worldwide transaction processing on a single API. TRX, in collaboration with a leading US-acquiring bank, will utilize Silverflow's easy-to-use API to power the full range of TRX's merchants from card-not-present to card-present, including POS, softPOS, and mobile POS.

Enghouse Interactive, a leading provider of mission critical enterprise technologies, today announced an expansion of its partnership with Intertec Systems. This collaboration is set to offer a comprehensive suite of state-of-the-art video collaboration, enterprise video management contact center and fleet management transportation solutions to the Middle Eastern market.

"This partnership embodies our commitment to globally expanding our channel program," said Vince Mifsud, President of Enghouse Systems. "By joining forces with Intertec Systems, we are expanding our technologies into the Middle East market through a partner that has the local presence and required know-how to succeed in this region."

Enghouse will provide Intertec Systems with an expansive range of enterprise solutions for a broad range of industry sectors such as health care, BFSI, government, retail and the courts. These solutions are centered around specific workflows, driving efficiency and productivity to new heights. They are already deployed in supreme courts, leading health care organizations in the U.S. and transportation systems in major metropolitan areas around the world.

"Our collaboration with Enghouse is a testament to our shared vision of empowering businesses in the Middle East," said Naresh Kothari, MD of Intertec Systems. "Together, we aim to deliver unparalleled video collaboration experiences that drive growth and transformation."

Key Aspects of the Enghouse-Intertec Partnership

1. Customized Solutions for Varied Industries: Enghouse's collaboration with Intertec will focus our video collaboration tools, catering to the distinct demands and challenges of sectors like health care, BFSI, government, retail and courts.
   
   
2. Cloud Conferencing & Unified Meeting Rooms: Customers will benefit from the Enghouse cloud conferencing platform and integrated meeting room systems, ensuring a smooth and engaging virtual meeting experience.
   
   
3. Innovation at its Best: The partnership is committed to providing customers with groundbreaking ways to connect and streamline their business processes.
   
   
4. Choice-Flexible Deployment: Clients can opt for on-premises, cloud-based, or hybrid setups, ensuring their video collaboration tools are in sync with their specific infrastructure and operational needs.

The Consulate General of Canada in Dubai is pleased with the global success of Enghouse, a Canadian company. Consulate officials pointed to today's announcement as a strong example of Canadian innovation and R&D creating enterprise software products and strategically coupling them with regional expert partners like Intertec Systems. "It's encouraging to see that Enghouse has invested and expanded its presence in the UAE – a critical, high growth and forward-thinking technology market, and an important partner for Canada," said Tracy Reynolds, Consul General of Canada in Dubai.

• New report, commissioned by Airties, shows the global acceleration of FTTH, the growing need to focus on latency, and the importance of deploying in-home Smart Wi-Fi to enhance QoE

In advance of the 2023 Network X Conference, Airties, a global leader of managed Wi-Fi solutions for broadband service providers, today released a newly commissioned whitepaper from Omdia titled "Ensuring Consistent Home Wi-Fi QoE is Critical to Broadband Success." The paper, written by Michael Philpott, Omdia Research Director, Service Provider–Consumer, highlights the global acceleration of ultra-high-speed Internet, the growing need for operators to focus on latency, and the importance of deploying in-home Smart Wi-Fi to enhance Quality of Experience (QoE) for subscribers.

According to this new Omdia report, more than 40% of households worldwide will have FTTH connectivity by 2027, and even more in advanced countries. The move to more advanced broadband access technologies is enabling ever-faster broadband speeds, with a 500% increase in the average speed over the past five years, and a further 200% increase expected across all regions in the next five years. But speed alone will no longer be a competitive advantage for broadband operators. The report notes that in the future more and more applications will be interactive in nature, relying as much on low latency as speed, and operators need the right software management tools to identify applications and optimize users' Wi-Fi performance to avoid the bottleneck simply moving to the in-home network.

"As service providers continue their push towards full-fiber networks and gigabit broadband services, the ability to provide high-speed, low-latency and highly consistent Wi-Fi connectivity to every device and every corner of the home becomes a vital part of the end-to-end broadband strategy," said Michael Philpott, Omdia Research Director, Service Provider–Consumer. "Not doing so quickly leads to customer dissatisfaction, which in turn leads to increased operational costs and customer churn. This report discusses the importance of deploying Smart Wi-Fi with enhanced capabilities to address latency, application prioritization, and continually optimize home Wi-Fi performance."

"Demands placed upon today's home Wi-Fi networks have never been higher," said Metin Taskin, Co-CEO and founder of Airties. "For today's intensive usage, especially with applications like high-definition video conferencing, cloud-based gaming, and AR/VR, broadband operators need ways to proactively manage the application experience across every connected device in the home. This new report from Omdia addresses key considerations around latency and QoE, and we're pleased to help make it available to broadband service providers around the globe."

Managed Wi-Fi is Critical for QoE

Based on Omdia's research with leading broadband service providers, the new report highlights that a lack of home Wi-Fi investment can lead to the following: 

• An increase in customer support calls, with up to 60% of all broadband service calls relating to Wi-Fi;
• Increased operational costs due to the complexity of pin-pointing causes of home Wi-Fi issues, pushing up costs to $30 per customer care call, with 10%–15% of customers needing more than a single call to resolve the issue;
• Additional inefficiency and unnecessary costs because 80% of routers that are returned as faulty are found to have no physical defect, or no fault found (NFF);
• A reduction of Net Promotor Scores (NPS) by up to -40 points by not being able to resolve a customer's Wi-Fi issues promptly; and
• Unreported discontent, as up to 50–60% of subscribers with Wi-Fi related issues do not report the problem. Such customers typically have a lower NPS of up to -20 points, making a bad Wi-Fi user experience a growing driver of broadband customer churn.

Data from this new report demonstrates the critical need for broadband service providers to deploy Smart Wi-Fi software that can monitor, predict, and solve performance issues. Operators interested in reading more about how Smart Wi-Fi can be used for monetization and differentiation are also encouraged to read a prior Omdia report titled: "Marketing Smart Wi-Fi: The Key to Broadband Differentiation."

The Importance of Low Latency

The new report, "Ensuring Consistent Home Wi-Fi QoE is Critical to Broadband Success", notes that the next generation of Internet applications will also be far more interactive, where low latency and network consistency will be crucial to the overall experience. For example, the report gives use cases such as for cloud gaming, where a consistent level of low network latency is more important than speed. For XR applications, the report notes that ultra-high fast speeds and ultra-low latency are equally important. If such services are to be delivered with sufficient quality of experience, it is essential that operators, as they develop their next-generation optical fiber networks, ensure they are capable of multi-gigabit access speeds, but also low levels of latency and jitter, efficiently providing the required reliability and consistency. 

The report states that service providers must invest in advanced Wi-Fi technology, like that provided by Airties, if the home network is not to become the new bottleneck to the delivery of high-quality broadband services and applications. Recently, for example, Airties announced an integration with Domos that aims to provide enhanced latency measurement at the device and application level as a capability of Airties Cloud.

Another key finding of the report is the importance for broadband operators to deploy a common Smart Wi-Fi platform to all households, regardless of hardware or chipsets deployed, to monitor and manage the quality of service experienced by all customers. Utilizing the data collected, cloud analytic tools can then also help in creating more efficient hardware deployment strategies, effectively target broadband marketing campaigns, and optimize QoE per household.

Airties at Network X and Wireless Global Congress EMEA

Airties will exhibit at Network X in stand C22 from October 24-26 in Paris. In addition, at Wireless Global Congress EMEA, Airties' Co-CEO and founder, Metin Taskin, will speak on an executive session titled: "How Next-Gen Wi-Fi will Transform the Smart Home" on Wednesday, October 25 from 4:35pm-5:10pm. Airties' Head of Research, Sarper Gokturk, will speak on the panel: "Operators: Optimizing Network Deployment and Management to Deliver the Best Wi-Fi Experience" on Thursday, October 26 from 10:15-10:45am.

Airties has been recognized with many prestigious industry awards for its innovative work serving broadband operators, including: "Best Home Wi-Fi Solution Award" from Broadband World Forum; "Best Wi-Fi Service Provider Solution" and "Best Home Wi-Fi Product" awards from Wi-Fi NOW; "Best-In Home Wi-Fi Network" award from Wireless Broadband Alliance; "Best Broadband Customer Experience" from Cable & Satellite International; and many others.

SHIFT attendees to hear the latest on AI-driven innovations, critical security advancements, and comprehensive partnerships that shape the future of cyber resilience

Commvault, a leading provider of data protection and cyber resilience solutions for hybrid cloud organizations, today announced the kickoff of SHIFT, a highly anticipated, worldwide set of events focused on one of the most pressing issues in the enterprise today: cyber resilience. The first event, which is invite-only, takes place in New York City on November 8, followed by a series of global simulcasts on November 9 in local time zones.

Today's landscape is rife with challenges, from ransomware and other cyber threats, to the exponential increase in data scattered across on-premises, hybrid, and multi-cloud environments, to evolving threats fueled by the rise in AI. The technology world is at a turning point where the need for a new approach to data security and cyber resilience has never been clearer. SHIFT is not just an event; it's a call to action. Together, Commvault and its partners are working to redefine cyber resilience for the AI and ransomware era.

Attendees will gain insights into the complex and evolving landscape of cyber threats. They will also learn about Commvault's transformative approach to cyber resilience, bringing together the worlds of security, data protection, data intelligence, cloud, and recovery. And, they will discover modern solutions that offer enterprise-ready cyber resilience to protect their data wherever it lives and help ensure rapid, predictable recovery in the face of escalating cyber threats at the lowest TCO.

At SHIFT, Commvault will introduce and shed light on:

• A groundbreaking reveal: Commvault's most exciting announcement in its 27-year legacy.
• AI-driven cyber resilience: Strategies to harness AI's power to bolster security across hybrid infrastructures while getting greater insights from data.
• Data security innovations: Redesigned solutions that can play a critical role advancing an end-to-end security posture.
• Strategic partnerships: Extensive advancements and endorsements across the partner ecosystem, from cloud service providers and global service integrators to strategic alliance partners and AI and security collaborations.
• Real-world testimonials: Insights from customers, partners, and industry luminaries on how Commvault's innovations are reshaping their cyber resilience strategies.
• Expert panels: Engaging roundtable discussions will further enrich the event, featuring stories from customers and partners on their success and resilience journeys.

The speaker lineup boasts an impressive array of experts. A sampling of speakers includes:

• Sanjay Mirchandani, Commvault's CEO, will discuss a transformative solution for enterprise-level cyber resilience.
• Melissa Hathaway and Moriah Hara, respected cybersecurity advisors, will talk about the growing threat of cybercrime, cyber terrorism, and ransomware, and what this means for the enterprise.
• Rajiv Kottomtharayil, Commvault's Chief Product Officer, will also share perspectives on the latest cyber threats and Commvault's innovative solutions that can give customers an unfair advantage against bad actors.

Intelisys, a ScanSource company, and a leading technology services distributor of connectivity and cloud services, has named Advantix, the MCx provider™, its top mobility supplier in 2023. The annual awards honor supplier partners for consistently going above and beyond to deliver excellence, support and value to Intelisys sales partners.

"At Intelisys, we are proud to honor our supplier partners who consistently go above and beyond to deliver excellence, support and value to our Sales Partners," said Paul Constantine, Executive Vice President, Supplier Services, Intelisys, a ScanSource company. "We'd like to congratulate Advantix on their recognition as Top Mobility Provider. Their outstanding achievements throughout the year have set the standard for success by driving growth in the channel. We look forward to even greater collective success in the future."

Winners were selected based on a number of criteria that include, but are not limited to, revenue performance, year-over-year growth, and overall impact of their solutions and programs in the channel.

"We are honored to be recognized by Intelisys, an enduring and trusted Advantix partner," said Natasha Royer Coons, chief executive officer at Advantix. "Our SaaS platform and managed wireless connectivity solutions were purpose-built to provide a uniquely positive partner and customer experience. This recognition demonstrates that our formula is valued by partners, which is very gratifying. On behalf of everyone at Advantix, I'd like to thank the Intelisys team for recognizing us this year."

The awards were presented to the honorees during ScanSource Channel Connect in Orlando, Florida.

ENGLISH IS A 25+ YEAR INDUSTRY LEADER KNOWN FOR SCALING GLOBAL NETWORK AND CLOUD BUSINESSES

PacketFabric, a leading* Network as a Service (NaaS) innovator and a Digital Alpha Advisors, LLC portfolio company, today announced Vincent English has been appointed to lead the company as its Chief Executive Officer. Vincent was previously the Chief Executive Officer and Executive Director of Megaport where, in various roles, he was instrumental to growing the company's business – from the execution of a successful initial public offering to global expansion and consistent delivery of industry transformative products and services.         

Highlights:

• English played an instrumental role in growing Megaport, an early Network as a Service provider, from an Australian-based operation to a global platform delivering more than $100M in annual revenue as Chief Executive Officer and Executive Director.
  
  
• English's global leadership experience enables PacketFabric to innovate its service roadmap and transform its go to market capabilities to accelerate growth globally as a leading Network as a Service provider.
  
  
• PacketFabric's Network as a Service platform enables enterprises to connect to services and locations that power their businesses at cloud-scale and in real time. Customers can align their network architecture to optimize cost and performance for today's IT workloads and ensure they are ready for tomorrow's evolving data architectures.
  
  
• PacketFabric is designed to be a 100G capable network for the company's portfolio of services with high availability, which is critical for large enterprise customers. The company also has a growing portfolio of 400G connections that are available to customers with the most demanding enterprise workloads.
  
  
• In addition to being cloud native, PacketFabric offers a full array of enterprise services including first/last mile, AS1828 internet, and transit services that allow the company to operate as a next-generation network service provider for enterprises. A key part of the platform is a high degree of automation that eases self-service usage for customers.

Of his new role, English said, "I am thrilled to join PacketFabric at such a crucial point in the company's growth. Data consumption has continued to accelerate and has proven one of the fundamental constants in our industry. PacketFabric was built from the ground-up as a massive, cloud-scale network. With the ongoing growth of cloud services along with emerging Artificial Intelligence and Machine Learning applications, this trend is accelerating. The PacketFabric platform has proven to be a crucial enabler for today's cloud consumption model. I am excited to support PacketFabric's go to market transformation to capture more of the cloud opportunity and deliver new services that will support our customers, partners, and enable the continued growth of intelligent IT architectures."                         

Digital Alpha Partner Karl Meyer added, "Vincent is an industry giant, and we are excited for him to build on the tremendous foundation that was established by Dave Ward who led the company to this point as its CEO. We believe that Vincent's executive leadership experience will help to guide PacketFabric in this next stage of growth, as PacketFabric continues to transform the Network as a Service industry."

English brings immense experience and valuable industry knowledge to PacketFabric. He held multiple executive roles at Megaport, including Chief Financial Officer, Chief Operating Officer and most recently Chief Executive Officer. Prior to his tenure at Megaport, English served as Chief Financial Officer at Digicel Group, a multi-national telecommunications company. English also held multiple financial operations roles at Alcoa and Gillette.

English's robust industry vision, strong industry expertise, and global leadership experience will provide significant upside opportunity to PacketFabric.

Alliance aims to generate efficiency for digital transformation projects

SQUADRA , a technology consultancy that supports companies' entire digital transformation journey, announces a strategic partnership with Cervello  to expand the offering of ITSM (Service Management Services) Information Technology) in the Brazilian market.

The collaboration aims to meet the growing demand for efficiency, productivity and innovation in the IT sector, and should generate mutual benefits.

For SQUADRA , it will mean a substantial increase in revenue, a notable expansion of the portfolio of products and services, the consolidation of its position in the competitive ITSM market and a considerable increase in the customer base. SQUADRA intends to expand its customer base to reach new horizons by offering the Cervello ESM Suite solution.

For Cervello , the partnership represents a significant expansion of its presence in the sector, a significant increase in its customer base and the valuable opportunity to count on a highly qualified partner to strengthen its position in the business scenario. Cervello sees the alliance with SQUADRA as an opportunity to expand the business, in addition to establishing solid and lasting roots.

This partnership will also allow SQUADRA to offer a complete and integrated ITSM solution , further enhancing its expertise in service governance based on ITIL (Information Technology Infrastructure Library), with a focus on improving the efficiency and productivity of IT and CSC (Central of Shared Services).

SQUADRA will be responsible for marketing, implementing and sustaining the  Cervello ESM Suite solution, while Cervello will provide training, support and updates.

"This partnership with Cervello will strengthen our position in Brazil and our customers' digital transformation journey", highlights Rodrigo Dias , Head of Corporate IT at SQUADRA.

"We foresee a successful collaboration and will work together on innovation projects within the Cervello ESM Suite platform, to develop new solutions and services, providing a cutting-edge environment for our customers", adds Dias.

For Roberto Fidalgo, Commercial Director at Cervello, integrated processes, combined with a structured knowledge base, increase the quality and standardization of customer service, resulting in greater profitability, productivity and, above all, the ability to reduce operational costs , allowing investment in expansion and innovation.

"The Cervello ESM Suite is not just a technological solution; it is a way to manage companies' relationships with internal and external customers in an even more personalized way", says the executive.

With a focus on results aligned with the companies' long-term vision, both will work to meet customer needs in a sector increasingly focused on innovation and efficiency, always combined with ITIL best practices and service models with chatbot and Artificial Intelligence.

SQUADRA, renowned for its excellence in quality, processes and governance, is about to further consolidate its market presence through this strategic partnership.

The moment represents an important step towards offering high-quality ITSM solutions, demonstrating companies' commitment to meeting the constantly evolving needs of organizations .

"We will help our customers make an extremely significant technological leap", concludes the SQUADRA executive.