Cambridge Technology (NSE: CTE; BSE: 532801), a leading global technology company focused on Artificial Intelligence as a service (AIaaS) to transform organizations into "AI-first" leaders, is pleased to announce that it has been appraised at Level 5 of the CMMI Institute's Capability Maturity Model Integration (CMMI)® v1.3 for its services. The appraisal was performed by QAI Consulting.
CMMI® is a capability improvement approach that provides organizations with the essential elements of effective processes that ultimately improve their performance. An appraisal at maturity level 5 indicates that the organization is performing at an "optimizing" level. At this level, an organization continually improves its processes based on a quantitative understanding of its business objectives and performance needs. The organization uses a quantitative approach to understand the variation inherent in the process and the causes of process outcomes.
In order for CT to build a practice that is innovative, it has laid the foundation of a self-learning organization and as part of that CT is continually proud to be one of the ~30 companies appraised at this level for services in India. CT is also one of the few organizations in the world with 100 percent AWS certified Cloud Operations Centre with proven experience of over 10 million instance management hours.
In the past, CT has been appraised at CMM Level 5 v1.1, CMMI Level 5 v1.2, CMMI L5 v1.3 for development and maintenance projects and maintaining this highest level in CMMI for its services.
In acknowledgment of the achievement, Aashish Kalra, Chairman of CT, commented, "CT achieves a milestone to become a self-learning and innovating organization and being appraised at the highest level of CMMI for our services demonstrates our focus and commitment towards continuous process maturity, innovation and delivering value to our customers. We are continually proud to maintain the highest standards of software quality & engineering in our organization and be part of a select group of global companies appraised at the highest level."
Shares of CAMBRIDGE TECHNOLOGY ENTERPRISES LTD. was last trading in BSE at Rs.68.15 as compared to the previous close of Rs. 67.05. The total number of shares traded during the day was 8025 in over 90 trades.
The stock hit an intraday high of Rs. 68.35 and intraday low of 65.75. The net turnover during the day was Rs. 539273.