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ignio™ Celebrates Fourth Anniversary by Doubling its Revenue and Customer Base

Posted On: 2019-08-13 19:57:16

Digitate, a software venture of Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, announced that ignio™, its award-winning AI/ machine learning-based cognitive automation software, has doubled its revenue as well as number of customers, year on year, as it completes four years since launch.

The last four years have seen ignio steadily expand into newer areas of enterprise operations. Its early adoption was by progressive CIOs looking to automate their IT operations. ignio made their IT infrastructure stacks self-healing by using its context-aware reasoning capability to pre-empt problems, and autonomously resolve a lot of the incidents that did occur. Since then, ignio has been used to automate batch jobs management and ERP application support.

Now, largely driven by demand from business stakeholders, ignio's cognitive capabilities are being leveraged to transform new business-centric use cases. It is being used by retailers to find anomalies in drug prescriptions, and to reconcile vendor incentive payouts, freeing up working capital. Procurement officers are using ignio to uncover maverick spends by detecting and predicting anomalies, enabling quicker decisions.

In the last 12 months, ignio had 52 new wins, bringing the total number of customers to 105. These are mostly Global 2000 companies, distributed across the retail, manufacturing, telecom and banking and financial services sectors. With its speedy implementations and track record of delivering impactful outcomes within weeks, ignio is being viewed by forward thinking organizations as a strategic investment to build an agile and resilient operating core that powers a great customer experience.

PostNord, a leading supplier of communication and logistics solutions in the Nordic region, recently implemented ignio. Jenny Fagerstedt Boman, Head, IT Delivery, PostNord, said, "The competitive advantage that ignio can give us is that we become a lot quicker to market. Time to market is very crucial for us. One of the challenges we had before we implemented ignio was that we didn't realize that something was wrong in our systems until it was too late, ie after an incident took place. The aim for ignio is basically to be on top, to act and resolve incidents before business users are impacted."

Akhilesh Tripathi, Global Head, Digitate, said, "ignio's unique capabilities cover the breadth and depth of an enterprise from IT to business and from context to self-heal. ignio closes the loop between prediction, recommendation and autonomous execution on a single platform, and delivers unparalleled results on business assurance, agility, efficiency and customer experience. We will continue to invest in the product, expand our partner ecosystem, and offer 24x7 support."

Roy Illsley, Distinguished Analyst, Ovum, said, "ignio is one of the very few softwares that have the holistic capabilities needed to ensure that operational effectiveness can be delivered using a data driven AI approach. Solutions like ignio have refined the algorithms so that they are more comprehensive and future oriented and not just focused on automating siloed operational activities."

With its unique and innovative cognitive capability that blends artificial intelligence, machine learning, and advanced software engineering, ignio is the only software product in the marketplace that spans across enterprise IT (AIOps), workload management, ERP operations and business operations with a common core. Some of its new functionalities released during the year include:

- Enhanced AI/ ML capabilities to predict the health of the enterprise blueprint and explainable AI to help customers identify and bridge data-related gaps, inadequacies and quality issues.

- Unique model-, case- and rule-based reasoning combined with contextual intelligence and pre-built knowledge to deliver more accurate predictions and significantly improve autonomous problem management and resolution.

- Capabilities to develop new use cases and patterns and support additional technologies in the environment using ignio Studio, a state-of-the-art integrated development environment that comes pre-built with comprehensive and rich knowledge models.

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2200.2 as compared to the previous close of Rs. 2245.6. The total number of shares traded during the day was 78148 in over 4554 trades.

The stock hit an intraday high of Rs. 2250.2 and intraday low of 2195. The net turnover during the day was Rs. 173057748.


Source: Equity Bulls

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