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Powering Digital Transformation with Quality Engineering & Devops Automate Powering Digital Transformation with Quality Engineering & DevOps Automate. Accelerate. Assure. Annual Report 2017-18 Contents Corporate Overview Digital Transformation 02 Quality Engineering and Quality Assurance 03 The Top 10 Digital Quality Engineering Trends of 2018 04 Role of DevOps 06 Test Automation 08 Acceleration Of Digital Transformation 10 Mitigating Risks 12 The World of Cigniti 14 Quality Engineering (QE) 24 DevOps 26 Automate 27 Accelerate 28 Assure 29 New Innovations 30 Chairman’s Message 32 CEO’s Message 34 Corporate Information 35 Board of Directors 36 Management Reports Management Discussion and Analysis 38 Notice 46 Board’s Report 58 Corporate Governance Report 83 Financial Statements Consolidated Statement Independent Auditors’ Report 106 Balance Sheet 110 Statement of Profit and Loss 111 Cash Flow Statement 113 Notes 115 Standalone Statement Independent Auditors’ Report 166 Balance Sheet 172 Statement of Profit and Loss 173 Cash Flow Statement 175 Notes 177 Cautionary Statement Regarding Forward-Looking Statement Certain statements in this annual report concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. We have tried wherever possible to identify such statements by using words such as ‘anticipate’, ‘estimate’, ‘expect’, ‘project’, ‘intend’, ‘plan’, ‘believe’ and other words of similar substance, in connection with any discussions regarding future performance. We cannot guarantee that these forward-looking statements will be realized, although we believe that we have been prudent while making the assumptions. The achievement of results is subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, our actual results could vary materially from those anticipated, estimated, or projected. Readers should bear this in mind. We undertake no obligation to publicly update any forward- looking statements, whether as a result of new information, future events, or even otherwise. POWERING DIGITAL TRANSFORMATION THROUGH QUALITY ENGINEERING & DEVOPS Today, digital transformation has become a mandate and a The digital transformation journey is as much about strategic critical topic for board-room discussions as opposed to just approaches as it is about technology and people. To succeed being an innovative trend just a few years ago. Organizations in their digital journey, enterprises need to have their quality across the globe are implementing the best-in-class quality engineering strategies thought out thoroughly and executed engineering & DevOps practices to address their digital impeccably. They also need to leverage strategic partnerships needs and to provide a fillip to their digital transformation globally to help them achieve the much needed agility in the endeavors. overall business processes. According to an IDC forecast, Worldwide spending on digital transformation (DX) technologies (hardware, software, and services) is expected to be nearly $1.3 trillion in 2018. Based on Industry estimates, the spending on Digital transformation initiatives will increase to 40%-50% of the overall IT budget by 2020. New age digital businesses therefore require the best possible quality engineering services that are driven by artificial intelligence and automation, and built for a DevOps environment. Implementing DevOps practices will help CXOs deliver these initiatives in a high speed, iterative, and continuous manner while delivering quality @ speed. Delivering with high quality @ speed in digital transformation initiatives requires a completely new way of approaching testing because of the trending development approaches (Agile, DevOps), Technologies (Social, Mobile, Analytics, Cloud, Big Data, & IoT) & Tools (significantly open source, seamlessly coupled with commercial). Cigniti is powering the Digital Transformation journey of organizations by establishing comprehensive testing frameworks and strategy across the organizations’ digital value chain that comprises of digital marketing, web portals, web content, digital assets, web analytics, and the overall digital ecosystem – Cloud, Mobility, Big Data, AI, and smart devices. Our test offerings include Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance solutions. Cigniti’s Verita is a robust quality engineering platform and dashboard that comes with the ability to analyze and provide data that is descriptive, diagnostic, predictive, and prescriptive. At Cigniti, we take pride in building enterprises of the future. Cigniti Technologies Ltd. Annual Report 2017-18 THE NEED FOR DIGITAL TRANSFORMATION With constant changes in technology and rising competition, businesses are getting wireless and ‘digitally’ connected as it is imperative for them to stay relevant in a dynamic and ever- evolving marketplace. Hence, organizations spend substantial time, efforts and resources while undergoing transformation, which is essential for continued customer retention in the longer run. Digital Transformation Thousands of business apps are being launched daily, and is a proven practice the user expectations and number of connected devices that has a far are skyrocketing. CIOs today thus need to focus on making reaching impact on their projects future-ready. Digital Transformation is a proven every aspect of an practice that has a far reaching impact on every aspect of enterprise. an enterprise. In order to grow and compete effectively in the market, a company’s vision, thus, must include digital transformation. Forrester in its report (for CIOs) titled ‘Digital Rewrites the Rules of Business’ mentions that “While digital customer engagement is common across all industries, every industry has a unique transformation opportunity. Manufacturers, for example, are digitizing their products and their manufacturing and supply chain processes. Retailers are transforming the role of stores in customer loyalty and engagement. Banks are building digital platforms to embed their services into partner’s services. And media companies are ramping up to deliver content via any channel.” Key Elements of Digital Transformation Consumer Digital Digital Organizational Experience & Empowerment Technologies Maturity Transformation Process Performance Digitization Management 2 Powering Digital Transformation Corporate Overview Management Reports Financial Statement ROLE & CRITICALITY OF QUALITY ENGINEERING AND QUALITY ASSURANCE As digital trends evolve, so must a business’ approach QA can be decoded differently for different organizations. to building and integrating a seamless digital customer Nonetheless, customer experience can be achieved experience. Digital transformation requires examining by ensuring performance, security, functionality, and technology and business models to make sure they effectively accessibility. This can be realized with rigorous testing engage customers at every touchpoint in the customer and constant monitoring efforts. QE works essentially experience lifecycle. Clients need to drive towards digital to streamline processes and support the teams to align transformation to unlock the value and reap the benefits by effectively with the quality metrics. helping create, deliver and sustain technology solutions that offer experiences to engage customers at every touchpoint. Cigniti’s quality engineering services cover the Software Testing Life cycle, Test Consulting and Test Advisory services, Quality Engineering, or QE is the model that provides the Test Implementation and Managed Testing services including flexibility and the power to underpin this kind of organizational Test Environment Management and Test Data Management, change. leveraging process frameworks, methodologies, and tools. We help customers across various industries achieve first- Performance, functionality, security, and accessibility time-right solution releases, quality improvements, and are some of the key factors that are expected from an deliver a superior customer experience. application. These cannot be possibly achieved without following a stringent process and scrupulous monitoring. Technically speaking, Quality Engineering is a quarterly review process that focuses on quality control and quality assurance management by leveraging physical technology, defined standards, and measurable tools. These defined processes help teams to emphasize on quality even on a firefighting mode, especially when the focus is primarily on resolving the current issue. QE efforts are needed to not only test the software quality, but also to analyze and enhance quality throughout the application development lifecycle. It helps teams to align with various quality metrics to achieve them even in the longer run. Businesses are demanding faster turnaround time and shorter delivery cycles to deal with changing market dynamics. Likewise, teams are focusing on automating the software development process and making it cost effective. QE helps teams to stay on track and check the relevant quality metrics throughout the development cycle. Ultimately, teams are able to validate the quality of a build and stay in sync with the quality metrics. There are multiple quality factors that are addressed in the process – usability, accessibility, stability, and security. QE enables teams to meet all these quality metrics by setting
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