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OneStream Announces Second Quarter 2024 Financial Results

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BIRMINGHAM, Mich., Sept. 3, 2024 /PRNewswire/ — OneStream, Inc. (Nasdaq: OS), the leading enterprise Finance management platform that modernizes the Office of the CFO by unifying core finance and operational functions — including financial close, consolidation, reporting, planning and forecasting, today announced financial results for its second quarter ended June 30, 2024.

Second Quarter 2024 Financial Highlights

Total Revenue: $117.5 million, an increase of 36% year-over-year.Subscription Revenue: $103.1 million, an increase of 44% year-over-year.GAAP Loss from Operations and Operating Margin: GAAP operating loss was $11.6 million compared to a loss of $16.2 million for the second quarter of 2023, and GAAP operating margin was (10)% compared to (19)% for the second quarter of 2023.Non-GAAP Operating Loss and Non-GAAP Operating Margin: Non-GAAP operating loss was $8.7 million compared to a loss of $13.3 million for the second quarter of 2023, and non-GAAP operating margin was (7)% compared to (15)% for the second quarter of 2023.

“Our strong top line growth in the second quarter underscores our continued momentum in the first half of the year, including achieving positive cash flow from operations and free cash flow for the third quarter in a row,” said Tom Shea, CEO of OneStream. “Our growth trajectory reflects what’s happening in the world of Finance today. CFOs are being asked to strategically guide the business towards growth against an economically volatile backdrop. We are in a solid position to empower the Office of the CFO with the operating system for modern finance and we remain committed to helping Finance leaders around the world effectively steer their businesses.”

Recent Developments and Business Highlights

Initial Public Offering. On July 25, 2024, the Company completed its initial public offering (the “IPO”) of 28,175,000 shares of Class A common stock, including shares sold by the Company and the selling stockholders, and the full exercise of the underwriters’ option to purchase additional shares. Net proceeds to OneStream from the offering were $352.9 million after deducting underwriting discounts and commissions.Splash User Conference. A record-breaking crowd at the OneStream Splash annual user conference in Las Vegas witnessed the unveiling of a dozen new innovations, including Advanced Narrative Reporting, a certified Microsoft Power BI Connector, a rapid-deployment CPM Express, expanded Sensible AI and Machine-Learning capabilities, and new partner solutions built atop the OneStream platform, including Infinity Sales Performance Management.OneStream Workplace Awards. OneStream was named a 2024 Inspiring Workplaces in both North America and in the United Kingdom. These awards come on the heels of being named a USA Today 2024 Top Workplace.

Financial Outlook

OneStream is providing the following guidance for the third quarter of 2024 and the full year 2024:

Q3’24

FY24

Total Revenue

$123M – $125M

$476M – $480M

Non-GAAP Operating Margin

(2)% – 0%

(5)% – (1)%

Non-GAAP Net Loss per Share

$(0.01) – $0.01

$(0.05) – $0.01

OneStream has not provided a reconciliation of its forward outlook for non-GAAP operating margin and non-GAAP net loss per share to their most directly comparable GAAP financial measures in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. OneStream is unable to predict with reasonable certainty the amount and timing of adjustments that are used to calculate these non-GAAP financial measures, particularly related to stock-based compensation and its related tax effects.

Earnings Webcast Information

OneStream will host a conference call for analysts and investors to discuss its financial results for the second quarter of 2024 and its outlook for the third quarter of 2024 and full year 2024 today at 4:30 p.m. Eastern time / 1:30 p.m. Pacific time. A webcast replay will be available on the Investor Relations Section of OneStream’s website following the call.

Date:

Tuesday, September 3, 2024

Time:

4:30 p.m. ET / 1:30 p.m. PT

Webcast:

https://investor.onestream.com

Upcoming Conferences

Citi 2024 Global TMT Conference
Thursday, September 5, 2024 at 3:50 p.m. ET / 12:50 p.m. PTGoldman Sachs Communacopia & Technology Conference
Wednesday, September 11, 2024 at 11:10 a.m. ET / 8:10 a.m. PT

Sessions offering a webcast will be available on the Investor Relations section of the OneStream website at https://investor.onestream.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. Forward-looking statements contained in this press release include, but are not limited to, the financial outlook for total revenue, non-GAAP operating margin and non-GAAP net loss per share provided for the third quarter ending September 30, 2024 and the year ending December 31, 2024. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors. Some of these risks are described in greater detail in our Prospectus dated July 23, 2024, filed with the Securities and Exchange Commission (the “SEC”) on July 24, 2024, and in the other documents we file with the SEC from time to time, including our Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, which we expect to file with the SEC on or around the date of this press release. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause our actual results to differ materially from those contained in any forward-looking statements we may make. These factors may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not rely on these statements or regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified timeframe, or at all. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Non-GAAP Financial Measures

In addition to GAAP financial measures, this press release includes non-GAAP financial measures that we use to help us evaluate our business, identify trends affecting our business, formulate business plans and make strategic decisions. These non-GAAP financial measures include non-GAAP operating loss, non-GAAP operating margin, non-GAAP net loss per share and free cash flow, and their respective definitions are presented below.

There are limitations to the non-GAAP financial measures included in this press release, and they may not be comparable to similarly titled measures of other companies. The non-GAAP financial measures included in this press release should not be considered in isolation from or as a substitute for their most directly comparable GAAP financial measures. Our management believes that our non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses that may not be indicative of our ongoing core operating performance. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when analyzing historical performance and liquidity and when planning, forecasting and analyzing future periods.

For a reconciliation of the non-GAAP financial measures presented for historical periods to their most directly comparable GAAP financial measures, please see the tables captioned “Reconciliation of Non-GAAP Financial Measures” included at the end of this press release. We encourage you to review the reconciliation in conjunction with the presentation of the non-GAAP financial measures for each of the periods presented. In future periods, we may exclude similar items, may incur income and expenses similar to these excluded items and may include other expenses, costs and non-recurring items.

Non-GAAP Operating Loss

We define non-GAAP operating loss as loss from operations adjusted for non-cash, non-operational and non-recurring items, including equity-based compensation expense and amortization of acquired intangible assets.

Non-GAAP Operating Margin

We define non-GAAP operating margin as non-GAAP operating loss as a percentage of total revenue.

Non-GAAP Net Loss Per Share

We define non-GAAP net loss as net loss adjusted for non-cash, non-operational and non-recurring items, including equity-based compensation expense and amortization of acquired intangible assets. We define non-GAAP net loss per share as non-GAAP net loss divided by weighted-average shares outstanding.

Free Cash Flow

We define free cash flow as net cash provided by (used in) operating activities less purchases of property and equipment.

Presentation of Financial Measures

This press release presents historical results, for the periods presented, of OneStream Software LLC, the predecessor of OneStream, Inc. for financial reporting purposes. The financial results of OneStream, Inc. have not been included in this press release as it had no material assets or liabilities and no material business transactions or activities during the periods presented. Accordingly, these historical results do not purport to reflect what the results of operations of OneStream, Inc. or OneStream Software LLC would have been had the IPO and related reorganization transactions occurred prior to such periods.

About OneStream

OneStream is how today’s Finance teams can go beyond just reporting on the past and Take Finance Further by steering the business to the future. It’s the leading enterprise finance platform that unifies financial and operational data, embeds AI for better decisions and productivity, and empowers the CFO to become a critical driver of business strategy and execution.

We deliver a comprehensive cloud-based platform to modernize the Office of the CFO. Our Digital Finance Cloud unifies core financial and broader operational data and processes and embeds AI for better planning and forecasting, with an extensible architecture, so customers can adopt and develop new solutions, achieving greater value as their business needs evolve.

With over 1,400 customers, including 15% of the Fortune 500, more than 250 go-to-market, implementation, and development partners and approximately 1,400 employees, our vision is to be the operating system for modern finance. To learn more, visit onestream.com.

Investor Relations Contacts

INVESTOR CONTACT

Anne Leschin
VP, Investor Relations and Strategic Finance
OneStream
investors@onestreamsoftware.com

MEDIA CONTACT

Victoria Borges
Media Relations Contact
OneStream
media@onestreamsoftware.com

 

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except unit amounts)

(Unaudited)

As of

June 30, 2024

December 31, 2023

Assets

Current assets:

Cash and cash equivalents

$

140,515

$

117,087

Accounts receivable, net

92,913

107,308

Unbilled accounts receivable

29,588

31,519

Deferred commissions

19,113

17,225

Prepaid expenses and other current assets

9,375

13,098

Total current assets

291,504

286,237

Unbilled accounts receivable, noncurrent

1,817

2,009

Deferred commissions, noncurrent

41,344

41,030

Operating lease right-of-use assets

17,237

18,559

Property and equipment, net

10,730

10,266

Intangible assets, net

3,117

—

Goodwill

9,071

—

Other noncurrent assets

4,869

3,458

Total assets

$

379,689

$

361,559

Liabilities and members’ equity

Current liabilities:

Accounts payable

$

24,663

$

8,274

Accrued compensation

25,446

22,436

Accrued commissions

5,961

10,158

Deferred revenue, current

193,519

177,465

Operating lease liabilities, current

3,017

2,505

Other accrued expenses and current liabilities

9,950

11,532

Total current liabilities

262,556

232,370

Deferred revenue, noncurrent

3,330

5,141

Operating lease liabilities, noncurrent

16,118

17,522

Other noncurrent liabilities

167

—

Total liabilities

282,171

255,033

Commitments and contingencies

Members’ equity:

Convertible preferred units

209,733

209,733

Members’ capital: common units

75,649

71,573

Accumulated other comprehensive loss

(900)

(625)

Accumulated deficit

(186,964)

(174,155)

Total members’ equity

97,518

106,526

Total liabilities and members’ equity

$

379,689

$

361,559

 

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands)

(Unaudited)

Three Months Ended June 30,

Six Months Ended June 30,

2024

2023

2024

2023

Revenues:

Subscription

$

103,133

$

71,843

$

198,820

$

135,921

License

6,905

6,652

13,084

13,444

Professional services and other

7,463

8,009

15,888

15,958

Total revenue

117,501

86,504

227,792

165,323

Cost of revenues:

Subscription

26,515

17,939

49,621

33,881

Professional services and other

10,460

10,784

21,382

20,610

Total cost of revenue

36,975

28,723

71,003

54,491

Gross profit

80,526

57,781

156,789

110,832

Operating expenses:

Sales and marketing (1)

52,216

46,744

100,525

94,015

Research and development (1)

19,952

13,226

36,876

25,755

General and administrative (1)

19,929

14,058

36,339

28,785

Total operating expenses

92,097

74,028

173,740

148,555

Loss from operations

(11,571)

(16,247)

(16,951)

(37,723)

Interest income, net

1,661

1,046

3,297

1,569

Other income (expense), net

2,391

5

1,491

(1,822)

Loss before income taxes

(7,519)

(15,196)

(12,163)

(37,976)

Provision for income taxes

331

175

646

470

Net loss

$

(7,850)

$

(15,371)

$

(12,809)

$

(38,446)

(1) Includes equity-based compensation expense as follows:

Three Months Ended June 30,

Six Months Ended June 30,

2024

2023

2024

2023

Cost of professional services and other

$

—

$

—

$

—

$

15

Sales and marketing

918

1,894

1,274

3,123

Research and development

1,149

105

1,254

309

General and administrative

652

933

1,304

2,213

Total equity-based compensation

$

2,719

$

2,932

$

3,832

$

5,660

 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(Unaudited)

Six Months Ended June 30,

2024

2023

Cash flows from operating activities:

Net loss

$

(12,809)

$

(38,446)

Adjustments to reconcile net loss to net cash provided by (used in)
   operating activities:

Depreciation and amortization

1,545

1,460

Bad debt expense

1,560

814

Noncash operating lease expense

1,394

1,410

Amortization of deferred commissions

9,492

7,724

Equity-based compensation

3,832

5,660

Other noncash operating activities, net

(2,037)

1,690

Changes in operating assets and liabilities:

Accounts receivable, net

14,957

13,403

Deferred commissions

(11,694)

(10,697)

Prepaid expenses and other assets

2,637

(5,766)

Accounts payable

14,133

(3,282)

Deferred revenue

14,242

24,088

Accrued and other liabilities

(3,598)

784

Net cash provided by (used in) operating activities

33,654

(1,158)

Cash flows from investing activities:

Purchases of property and equipment

(1,100)

(1,444)

Acquisition of business, net of cash acquired

(7,594)

—

Sales of marketable securities

—

87,247

Net cash (used in) provided by investing activities

(8,694)

85,803

Cash flows from financing activities:

Payments of deferred offering costs

(1,045)

—

Principal payments on finance lease obligation

—

(46)

Proceeds from exercise of common unit options

—

247

Repayments of borrowings on revolving credit facility

—

(3,500)

Net cash used in financing activities

(1,045)

(3,299)

Effect of exchange rate changes on cash and cash equivalents

(487)

201

Net increase in cash and cash equivalents

23,428

81,547

Cash and cash equivalents – Beginning of period

117,087

14,687

Cash and cash equivalents – End of period

$

140,515

$

96,234

 

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(Unaudited)

Non-GAAP Operating Loss

Three Months Ended June 30,

2024

2023

(in thousands)

Loss from operations

$

(11,571)

$

(16,247)

Equity-based compensation expense

2,719

2,932

Amortization expense

183

—

Non-GAAP operating loss

$

(8,669)

$

(13,315)

Non-GAAP Operating Margin

Three Months Ended June 30,

2024

2023

(in thousands)

Operating margin

(10)

%

(19)

%

Equity-based compensation expense

2

%

3

%

Amortization expense

—

—

Non-GAAP operating margin(1)

(7)

%

(15)

%

(1) Non-GAAP operating margin may not foot due to rounding.

Free Cash Flow

Three Months Ended June 30,

2024

2023

(in thousands)

Net cash provided by operating activities

$

8,114

$

798

Purchases of property and equipment

(410)

(1,024)

Free cash flow

7,704

(226)

Net cash used in investing activities

$

(8,004)

$

(1,024)

Net cash used in financing activities

$

(694)

$

(19)

 

 

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SOURCE OneStream, Inc.

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Technology

BLUETTI Unveils Elite 200 Portable Power Station Promising Over 17 Years of Dependable Charging

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25 minutes ago

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November 13, 2024

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LAS VEGAS, Nov. 12, 2024 /PRNewswire/ — BLUETTI, a leader in portable power stations and eco-friendly energy solutions, launches the Elite 200 V2, a 2KWh all-powerful portable power station designed for easy and convenient home backup power and outdoor activities.

Building on the remarkable success of the AC200P — praised by CNET as the “Best Overall Power Station”— the Elite 200 V2 is BLUETTI’s refined upgrade, created in response to valuable customer feedback after selling over 200,000 units of the AC200P. As the world’s first portable power station to use LiFePO4 battery technology, the AC200P set new standards in the industry. Its successor, the Elite 200 V2, redefines portable power station with enhanced battery longevity, a sleek and ultra-compact design, and a beautifully clean exterior, perfectly combining performance with elegance in energy solutions.

17 Years Use with Automotive-Grade Battery

BLUETTI was one of the first brands to adopt LiFePO4 batteries while others used NCM batteries with only 500 life cycles. Now, it raises the bar with ultra-long-lasting automotive-grade LFP batteries. The Bluetti Elite 200 V2 Portable Power Station boasts a 6,000+ cycle lifespan, so you can rely on it for 17 years of daily use — 12 times the typical industry standard. It’s also the first in the industry to pass over 33 rigorous battery tests by CNAS, ensuring high standards of performance and stability. This level of durability means you’ll have decades of reliable power and a more sustainable lifestyle.

Backup Power for Homes, RVs, and Beyond

With hurricanes and winter storms on the rise, along with increasingly lengthy power outages, reliable backup power is essential for peace of mind. The Elite 200 V2 portable power station delivers a powerful 2,600W output, capable of running household essentials like refrigerators, lights, routers, and microwaves with ease. Say goodbye to worries about spoiled groceries or a dark home — its high-capacity 2,073.6Wh battery keeps a 100W refrigerator running for up to 16.8 hours.

For road-trippers, campers, and outdoor enthusiasts, the Bluetti Elite 200 V2 Portable Power Station is an essential power source, charging everything from space heaters and coffee makers to phones and camera batteries. When powering high-powered devices, simply activate the Power Lifting mode to access up to 3,900W — sufficient for running hot plates, hair dryers, and other high-demand appliances. Whether you’re camping off the grid or embarking on a cross-country road trip, the Elite 200 V2 provides reliable portable power to keep your essentials running, making it the perfect outdoor power solution for any adventure.

Compact, Space-Saving Design for Versatile Use

Space is a premium in RVs, tiny home offices, and campers, and the Elite 200 V2 fits right in. It’s the size of a 1kWh unit, yet packs a 2kWh punch in a 13.7*9.8*12.6 inches body — 40% smaller than its predecessor. BLUETTI achieves this by integrating wireless internal structure design and advanced LFP prismatic cells, which enable zero-gap battery stacking for ultimate space efficiency. Unlike the commonly used cylindrical cells, the prismatic cells hold more energy and are less likely to have defects.

3 Fast Charging Options

Gone are the days of waiting all night to recharge your power station. With BLUETTI’s Turbo technology, you can top off the Bluetti Elite 200 V2 Portable Power Station to 80% in just 50 minutes with a dual AC and solar setup. And for you road warriors, the optional 560W high-speed car charger means you can recharge in just 4.2 hours while driving between stops. When you’re deep into the woods, it’s also convenient to charge from the sun at a maximum of 1,000W. Thanks to built-in solar tracking technology, it automatically activates to capture solar energy whenever there is light.

Tech-Powered Safety for Everyday Use

Using the Elite 200 V2 is as easy and safe as using your smartphone. The Elite 200 V2 is backed by multiple safety technologies for worry-free use. The proprietary BLUETOPUS AI-BMS smart battery management system regulates charging, prevents overheating, and keeps everything safe and stable. With multi-chip protection, you can confidently plug in high-starting power devices like car fridges through the car outlet or connect high-voltage solar panels without risking damage to the unit. Plus, it’s fire-resistant, shock-proof, and adaptive to your challenging adventures.

Super Quiet and Efficient Power

Say goodbye to noisy generators that can disturb your sleep or work. Supported by BLUETTI’s noise-canceling cooling technology, the Elite 200 V2 operates as low as 16dB — so quiet, it’s like the gentle rustle of leaves. This means you can run it in a tent, cabin, or even a home office. Plus, it draws minimal self-power of under 10W per hour when idle, giving you maximum efficiency with the least waste. Even if you accidentally leave it on overnight with AC/DC active, it retains 94% of its charge, significantly outperforming competitors that typically remain only 81%.

Price and Availability

From November 12 to December 2, the Elite 200 V2 is available at a debut price of just USD $1,099 on both the Bluetti Official Site and Amazon. Enjoy an additional 5% off with the code ELITE200V2PR at checkout.

About BLUETTI

As a technology pioneer in clean energy, BLUETTI is committed to a sustainable future by providing affordable green energy storage solutions for both indoor and outdoor use. Through initiatives like the LAAF (Lighting An African Family) program, BLUETTI is dedicated to bringing power to 1 million African families in off-grid areas. With a strong focus on innovation and customer needs, BLUETTI has established itself as a trusted industry leader in over 110 countries and regions.

Media Contact: Ellen Lee, ellenlee@bluetti.com

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SOURCE BLUETTI POWER INC

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Technology

Millennium Hotels and Resorts Partners with Aiello to Revolutionize Hospitality with AI Voice Technology

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25 minutes ago

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November 13, 2024

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Enhancing Guest Experience and Operational Efficiency with Cutting-Edge AI Solutions

TAIPEI, Nov. 13, 2024 /PRNewswire/ — Aiello, a leading startup specializing in Natural Language Processing (NLP), is proud to announce its partnership with Millennium Hotels and Resorts (MHR). This collaboration aims to redefine standards in the hospitality industry by deploying the AI-powered Aiello Voice Assistant (AVA) across six MHR’s properties in Singapore and Thailand, including Grand Copthorne Waterfront Hotel Singapore, Orchard Hotel Singapore, M Social Hotel Singapore, Studio M Hotel Singapore, M Hotel Singapore City Centre and M Social Hotel Phuket in Thailand.

Leveraging Aiello’s innovative AI technology, this strategic initiative aims not only to enhance the guest experience through personalized, voice-activated services but also to establish new benchmarks for operational efficiency and environmental sustainability.

“Millennium Hotels and Resorts distinguishes itself by leveraging cutting-edge technology and is committed to delivering exceptional guest experiences with a Blue Ocean Strategy mindset,” shared Saurabh Prakash, Interim Chief Operating Officer & Chief Commercial Officer at Millennium Hotels and Resorts. “By embracing Aiello’s AI technology, we’re   adopting a data-driven approach that allows us to better understand guest preferences, enabling us to deliver personalized services while unlocking new revenue opportunities.”

Aiello CEO and Co-founder Vic Shen remarked, “Through this collaboration, we have demonstrated how our AI solutions can transform hotel management. By creating a bespoke AI database for MHR, alongside a property and corporate dashboard that visualizes AVA and TMS user behavior data, we empower hoteliers to monitor and understand guest interactions anytime and anywhere. With the addition of a multi-hotel view, MHR gains a comprehensive understanding across properties, enabling data-driven strategies and truly personalized service. Together with MHR, we’re leading the digital transformation of the hospitality industry, creating more intelligent and intuitive hotel environments.”

MHR also unveiled an unboxing video of AVA, demonstrating the AI assistant’s innovative features alongside an interview video detailing the collaboration with Aiello:

Aiello X Millennium Hotels and Resorts | Hotel of Tomorrow

 

Pioneering AI Integration to Enhance Property Value and Drive Sustainable Growth

Ke-Vin Lim, Head of Group Innovation at City Developments Limited (CDL), emphasized that Millennium Hotels and Resorts (MHR) is the first hotel group in Singapore to implement the AVA in guest rooms. “This initiative reflects our commitment to integrating advanced technology, significantly enhancing property value and positioning us as more competitive and attractive for the future,” he said.

Lim also noted that the adoption of AI aligns perfectly with MHR’s sustainability vision. “By replacing outdated in-room amenities and printed materials, we’re making a long-term, sustainable investment,” Lim commented. MHR’s six properties in Singapore have already achieved Global Sustainable Tourism Council (GSTC) certification. Shen also emphasized, “For instance, by replacing the cabling in over 2,300 rooms with AVA, we would reduce 6,240 kilograms of carbon dioxide emissions, which is equivalent to what would require 284 trees to absorb,” further underscoring MHR’s commitment to environmental responsibility.

Driving Operational Efficiency and Workforce Competitiveness with AI and Digital Transformation

According to an Oracle study, 67% of hotels are facing staffing shortages, with 12% indicating that this impacts their operational effectiveness. “Addressing these operational challenges has been a key motivation for integrating technology into MHR’s systems,” said Andy Tan, Senior Vice President, Global Sales and Partnerships at MHR. “Integrating AVA with our task management system, housekeeping staff can receive real-time updates on room statuses and guest requests, reducing manual tasks and streamlining workflows.” he added. While system integration posed initial challenges, the expertise of Aiello’s team ensured a smooth transition with minimal disruption to existing IT infrastructure.

M Social Hotel Phuket Revolutionizes Guest Services with Aiello Voice Assistant

As the first hotel in MHR group to implement AVA, M Social Hotel Phuket has achieved significant success in transforming guest services. “Our goal was not only to enhance operational efficiency but also to deliver a seamless, enjoyable experience for our guests,” said Pjey Mayandi, General Manager of M Social Hotel Phuket. Serving as the hotel’s central hub, AVA integrates cloud-based phone systems, task management, in-room dining, and smart room controls, significantly streamlining operations. Since replacing traditional in-room phones, M Social Hotel Phuket has seen a significant reduction in call volumes, further showcasing the system’s effectiveness.

Aiello remains dedicated to expanding its comprehensive SaaS platform, Aiello-One, to more hospitality providers across Southeast Asia, Japan, and beyond, empowering hoteliers to unlock the full potential of smart technology and deliver unparalleled guest experiences. With robust backing from partner in Singapore, Go Nimbus, Aiello is well-positioned to scale and implement these innovative solutions across the region. 

About Aiello

Aiello is a leading provider of Voice AI in the hospitality industry. Its flagship product, Aiello Voice Assistant, is a multi-award-winning talk & touch voice AI technology solution aimed at streamlining hotel operations, enhancing the guest experience, and generating insights about customer behavior. The state-of-the-art Aiello Voice Assistant is designed to elevate the guest experience with its unique AI-powered features and capabilities. Since 2019, Aiello Voice Assistant has been deployed in over 180 hotels, encompassing 20,000 rooms, and has answered over 14 million inquiries from 2.5 million end users in Chinese, Japanese, Thai, and English.

Learn more at Aiello’s official website: https://aiello.ai/

About Millennium Hotels and Resorts

Millennium Hotels and Resorts (MHR) is a dynamic, global hospitality group with properties spanning four continents and 80 destinations. With a reputation for excellence, MHR owns, manages, and operates over 140 properties worldwide including in New York, Los Angeles, London, Paris, Dubai, Abu Dhabi, Auckland, Beijing, and Singapore. Its diverse portfolio spans brands including The Biltmore, Grand Millennium, Millennium, M Social, Studio M, M Hotel, Copthorne, and Kingsgate—offering the perfect address for business and leisure travellers who are looking for hospitality experiences that go above and beyond. MHR is a Hong Leong Group subsidiary of Singapore-listed global real estate company City Developments Limited. For more information, visit www.millenniumhotels.com.

For further information, please contact:

Patty Chen

Director of Marketing, Aiello

Email: patty.chen@aiello.ai

Patricia Wang
PR/Event Marketing Manager, Aiello
Email: patricia.wang@aiello.ai

Sandra Chiu

Senior Manager, Branding, Marketing & Loyalty

Email: Sandra.chiu@millenniumhotels.com

 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/millennium-hotels-and-resorts-partners-with-aiello-to-revolutionize-hospitality-with-ai-voice-technology-302301956.html

SOURCE Aiello

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Technology

Diligent Launches AI-Powered Due Diligence Reports for Enhanced Supplier and Third-Party Risk Management

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25 minutes ago

on

November 13, 2024

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Diligent AI-powered reports build on history of industry experience to solve major compliance pain points

SINGAPORE, Nov. 13, 2024 /PRNewswire/ — Diligent, a leading GRC SaaS company, today announced the launch of its AI-powered due diligence reports, offering organizations easy access to comprehensive third-party assessments. Designed to meet growing regulatory demands and the complexities of modern supply chains, the reports enable more efficient decision-making for chief compliance officers, general counsel, and other risk professionals balancing resource constraints and increased compliance burdens.

“As supply chains become more complex and face heightened regulatory scrutiny, businesses are increasingly exposed to reputational and compliance risks,” said Amanda Carty, GM, Compliance at Diligent. “For years, Diligent has set the standard as a leading comprehensive screening tool. Now with AI-powered due diligence reports, customers benefit from an even more efficient, scalable, and risk-based approach to managing third-party risk — while still having access to in-depth, analyst-led investigations when required. This enables faster decision-making, better compliance outcomes, and more robust risk management practices.”

Diligent’s AI-powered reports consolidate key risk data from global sanctions watchlists, politically exposed persons (PEPs) databases, and adverse media sources, providing a holistic view of third-party risk. Diligent’s due diligence services include specialized assessments tailored to specific areas of risk, such as environmental, social and governance (ESG) and human rights. For deeper insights, Enhanced Due Diligence (EDD) and Open Source Investigations (OSI) assess risk and verify details through comprehensive research, ensuring robust compliance and oversight throughout the supply chain.

Key features of Diligent’s AI-powered due diligence reports include:

One-Click Reports: AI-driven reports provide an intuitive overview of third-party risk in just one click.Comprehensive Risk Coverage: Consolidates data from sanctions lists, PEPs, State-Owned Enterprises (SOEs) and negative media sources to ensure thorough third-party risk evaluations.Flexibility for Varying Risk Levels: Automatically assesses low-risk entities with the option to escalate high risk cases for in-depth investigation.Seamless Integration: Fully integrates with Diligent’s Third-Party Risk Management platform for streamlined workflows.Efficiency Gains: Reduces manual intervention, enabling compliance teams to focus on high-value tasks while accelerating compliance decisions.

By integrating AI assessments with Diligent’s Third Party Risk Management solution, which includes risk modeling, automated workflows and advanced reporting, organizations benefit from a seamless, end-to-end solution for managing compliance challenges across their supply chain. This enables faster decision-making, better compliance outcomes, and more robust risk management practices.

To learn more about how Diligent’s AI-powered due diligence reports, visit: https://www.diligent.com/products/due-diligence

About Diligent
Diligent is the leading GRC SaaS company, empowering more than 1 million users and 700,000 board members and leaders to make better decisions, faster. The Diligent One Platform helps organizations connect their entire GRC practice — including governance, risk, compliance, audit and ESG — to bring clarity to complex risk, stay ahead of regulatory changes and deliver impactful insights, in one consolidated view. Learn more at diligent.com.

Follow Diligent on LinkedIn, X (Twitter) and Facebook.

 

View original content:https://www.prnewswire.com/apac/news-releases/diligent-launches-ai-powered-due-diligence-reports-for-enhanced-supplier-and-third-party-risk-management-302303530.html

SOURCE Diligent

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