Advances AI-led, platform-driven services strategy

SANTA CLARA, Calif. and PUNE, India, Oct. 22, 2024 /PRNewswire/ — Persistent Systems (BSE: 533179) and (NSE: PERSISTENT) today announced the Company’s audited financial results for the quarter ended September 30, 2024, as approved by the Board of Directors.

Consolidated Financial Highlights for the Quarter ended September 30, 2024

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

“We are proud to announce the 18th sequential quarter of revenue growth, delivering $345.5M revenue, an 18.4% increase year-over-year. In the same period, our PAT grew by 23.4% in rupee terms. 

This quarter, we continued to strengthen our capabilities and advance our AI-led, platform-driven services strategy. We brought on Starfish Associates to elevate our AI-powered contact center modernization; the addition of Arrka expands our comprehensive offerings in digital governance, including data privacy, AI governance, and cybersecurity.

For the second year in a row, we were named a Challenger in the 2024 Gartner® Magic Quadrant™ for Public Cloud IT Transformation Services. We believe this inclusion underscores our differentiated cloud expertise and ability to deliver boutique-style client experiences using AI and automation.

Deepening our ESG commitment, I am pleased to share that we achieved carbon neutrality ahead of our target. These accomplishments demonstrate our dedication to delivering exceptional value to our clients while positively impacting the environment and society.”

Second Quarter FY25 Client Wins and Outcomes

The order booking for the quarter ended on September 30, 2024, was at $529.0 million in Total Contract Value (TCV) and at $348.3 million in Annual Contract Value (ACV) terms.

Some of the key wins for the quarter include:

Software, Hi-Tech & Emerging Industries

Enhancing the roadmap of product engineering and data engineering of the core application performance monitoring and observability platforms for a leading observability platform providerSetting up a global technology center for product engineering, customer support, and professional services to accelerate product roadmap and enhance productivity for a leading US-based cybersecurity companyStandardizing data management with a state-of-the-art data lake to improve utilization, predict stock, and reduce food waste for a global leader in food services and facilities management

Banking, Financial Services & Insurance

Modernizing cloud-based accounting software platform and report generation capabilities to improve user experience and business efficiency for one of the largest US-based fintech companiesTransforming and integrating front-office and regulatory technologies into a unified framework to reduce technical debt, enhance efficiency, and improve user experience for a large global financial conglomerateAccelerating go-to-market and upgrading technology stack with SASVA™ to scale flagship pricing and profitability management products for a leading financial analytics firm

Healthcare & Life Sciences

Establishing an AI-enabled software engineering hub and modernizing IT infrastructure for a PE-led carve-out of a leading life sciences and scientific instrumentation companyAccelerating the transition of the core research and development center to India securely and effectively for a leading US-based precision medicine and omics analytics providerDeveloping core applications to streamline customer on-boarding, device management, report management, and CRM integration for a leading UK-based organ transplant device manufacturer

News in the Quarter       

Persistent Advances Data Privacy and AI-Driven Business Transformation with the Acquisition of ArrkaPersistent Unveils SASVA™ 2.0: Revolutionizing AI-Driven Software Development and Business AccelerationPersistent Named as a Challenger in 2024 Gartner® Magic Quadrant™ for Public Cloud IT Transformation Services

Awards and Recognitions

Sandeep Kalra recognized the Best CEO in the IT Services (Emerging Companies) category by Fortune IndiaPersistent Achieves Carbon Neutrality a Year Ahead of TargetPersistent upgraded to Version 3 of CMMI Maturity Level 5 certificationPersistent received Gold-level recognition in the 2024 Healthy Workplace Awards from Arogya WorldPersistent cited as a Leader in ISG Provider Lens™ for Google Cloud Ecosystem Partner 2024 ReportFor the third consecutive year, Persistent has been listed in the Constellation Shortlist™ 2024 for Public Cloud Transformation Services for GlobalFor the second consecutive year, Persistent has been listed in the Constellation Shortlist ™ 2024 AI Services for GlobalPersistent has been listed in the Constellation ShortList™ 2024 for Custom Software Development ServicesPersistent has been listed in the Constellation Shortlist ™ 2024 for Customer Experience (CX) Operations Services for GlobalPersistent named a Leader in Everest Group’s BFSI-specific Software Product Engineering Services PEAK Matrix® Assessment 2024Persistent Named Fastest Growing IT Services Brand in the 2024 Brand Finance India 100 Report

About Persistent

Persistent Systems (BSE & NSE: PERSISTENT) is a global services and solutions company delivering Digital Engineering and Enterprise Modernization to businesses across industries. With over 23,200 employees located in 19 countries, the Company is committed to innovation and client success. Persistent offers a comprehensive suite of services, including AI-enabled software engineering, product development, data and analytics, CX transformation, cloud computing, and intelligent automation. The Company has been recognized as the “Most Promising Company” of the Year by CNBC-TV18 at the 2023 India Business Leader Awards. Persistent has achieved carbon neutrality, reinforcing its commitment to sustainability and responsible business practices. As a participant of the United Nations Global Compact, the Company is committed to aligning strategies and operations with universal principles on human rights, labor, environment, and anti-corruption, as well as take actions that advance societal goals. With 327% growth in brand value since 2020, Persistent is the fastest-growing IT services brand in the 2024 Brand Finance India 100 Report.

www.persistent.com

Forward-looking and Cautionary Statements
For risks and uncertainties relating to forward-looking statements, please visit persistent.com/flcs

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The company is rolling out a new system by Paradox that will make the hiring process simpler, faster, and more automated for all 3,500+ restaurants in North America and Europe The Paradox platform is supporting Chipotle’s fall hiring efforts, its second largest hiring period of the year

NEWPORT BEACH, Calif., Oct. 22, 2024 /PRNewswire/ — Chipotle Mexican Grill (NYSE: CMG) announced today that it is partnering with Paradox to introduce a new platform that will make hiring employees more efficient for its restaurant teams. Paradox’s conversational hiring system will enable the General Managers in Chipotle’s restaurants to spend less time on administrative tasks, including collecting basic information from candidates and scheduling interviews, and allow them to focus on their day-to-day operations and providing excellent hospitality for guests. The technology, underpinned by Conversational AI, is expected to reduce the amount of time it takes to hire an employee for an in-restaurant position by as much as 75%.

Paradox is currently being introduced in a phased approach across more than 3,500 restaurant locations, with plans for completion this month. The recruiting system aims to decrease the time to hire, reduce job advertising costs, increase hiring for hard-to-fill roles, and improve candidate experience.

Introducing “Ava Cado“
Paradox’s experience is driven by a virtual team member that Chipotle named “Ava Cado.” Ava will provide a frictionless hiring experience by chatting with candidates, answering their questions about Chipotle, collecting basic information, scheduling interviews for hiring managers, and sending offers to candidates who are selected by managers. Ava is multilingual and can converse with candidates in English, Spanish, French, and German.

“As we continue to move toward our long-term goal of operating 7,000 restaurants in North America, we are empowering our teams to recruit and hire talent that are excited by our vision to Cultivate a Better World and want to grow with us,” said Ilene Eskenazi, Chief Human Resources Officer. “Paradox operates as if we’ve hired additional administrative support for all our restaurants, freeing up more time for managers to support team members and provide an exceptional guest experience. We’re excited about the early improvements we’re seeing.”

A Leading Workplace
In August, Chipotle ranked #1 on the American Opportunity Index’s first-of-a-kind ranking of the top 50 employers that offer recent high-school graduates with the best pathway to a sustaining career and increased compensation. Chipotle offers eligible workers industry-leading benefits such as debt-free degrees, tuition reimbursement up to $5,250 per year, access to mental health care, financial planning tools, and the opportunity for quarterly bonuses for all employees, including hourly crew members, up to a month’s worth of pay per year. It also provides transparent career progression showing how crew members can advance to a Restaurateur, the highest General Manager position, in as little as three and a half years, with a total potential compensation package of approximately $100,000 while leading a multi-million-dollar growing business. Last year, Chipotle had 24,000 internal promotions including 90% of its restaurant management roles and 87% of Field Leader positions.

Those interested in joining Chipotle on its mission to Cultivate a Better World can apply here: https://jobs.chipotle.com/.

ABOUT CHIPOTLE
Chipotle Mexican Grill, Inc. (NYSE: CMG) is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. There are over 3,500 restaurants as of June 30, 2024, in the United States, Canada, the United Kingdom, France, Germany, and Kuwait and it is the only restaurant company of its size that owns and operates all its restaurants in North America and Europe. Chipotle is ranked on the Fortune 500 and is recognized on Fortune’s Most Admired Companies 2024 list and Time Magazine’s Most Influential Companies. With over 120,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. For more information or to place an order online, visit www.chipotle.com.

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SOURCE Chipotle Mexican Grill

200+ media, influencers and kids gather to play with this season’s hottest toys

TORONTO, Oct. 22, 2024 /CNW/ – The Let’s Play Holiday Showcase, Canada’s premier media and social content creator product showcase event featuring top toys for the upcoming holiday season takes place today and will welcome more than 200 of the country’s top media and influencers and many of the world’s top toy manufacturers.

The event, produced by Swerve Strategic, an award-winning full-service marketing communications agency, provides Canada’s top media and social content creators an exclusive opportunity to engage with the Holiday Season’s Top Toys through meaningful and interactive play. The event provides one-to-one access to all the top toy brands whose products parents and kids will certainly have on their list this holiday season.

The event takes place today, October 22nd, between 3-7 PM at Wychwood Barns in Toronto.  Let’s Play happily welcomes the children of registered media and influencers and encourages them to attend.

Any media or social influencers currently not registered and interested in attending the Let’s Play event tonight, please email aking@scoopmediaevents.com.

“We are thrilled to be bringing back our inaugural showcase again this year,” says Andrew Wagar, President and CEO, Swerve Strategic. “Let’s Play” provides guests with a one-stop-shop for their gift guides and helps generate important buzz for the brands involved during their most important season. It also provides the toy companies an opportunity to present their products in person to the most influential media in the country, all in one place at one time.”

The top toys coming of the 2024 Let’s Play Holiday Showcase are (listed in alphabetical order. All prices CDN):

Disney ily 4EVER Inspired by Stitch Doll  by Jakks Pacific – Ages 6+  | $49.97 | Available at Wal-Mart

INSTAX MINI Link 3 Smartphone Printer from FUJIFILM Instax – Ages 6+  | $129.99 | Available at most major retailers

INSTAX PAL from FUJIFULM Instax – Ages 6+ | $129.99 | Available at most major retailers

LeapFrog Magic Adventures Globe – Ages 5+ | $119.99 | Available at Amazon, Wal-Mart, Toys “R” Us, Indigo and Best Buy

Play-Doh Pizza Delivery Scooter Playset by Hasbro – Ages 3+ | $139.99 | Available at most major retailers

Sticki Rolls: Sticki Band Single Pack & Sticki Station – Ages 5+ | $9.99 & $29.99 | Available at Wal-Mart, Mastermind, Amazon and Toys “R” Us

VTech KidiZoom Smartwatch DX4 – Ages 4+ | $69.99 | Available at Amazon, Wal-Mart, Toys “R” US, Canadian Tire, Mastermind, Indigo and Best Buy

FUJIFILM Printlife Photo Prints – All Ages | Starting at $0.19 | Available at fujifilmprintlife.ca

YUMMiLAND Small Lip Gloss Dolls by MGA – Ages 4+ | $14.99 | Available at Amazon, Wal-Mart and Toys “R” US

HITSTER – Ages 16+ | $29.99 | Available at Wal-Mart and Amazon

Cloud B Tranquil Penguin – Ages 0+ | $74.99 | Available at West Coast Kids and Snuggle Bugz

Little Big Friends Musical Friends – Ages 0+ | $39.99 | Available at West Coast Kids and Snuggle Bugz

PLAYMOBIL Pirates: Large Pirate Ship – Ages 4+ | $139.99 | Available at all independent and mass retailers

This year, Swerve has once again partnered with the Canadian Toy Association‘s charitable program, Toys for the North. Toys featured at the Let’s Play Holiday Showcase will be boxed up and flown to surprise children in Canada’s most remote and impoverished northern communities. Toys for the North is a partnership between the Canadian Toy Association, Thomson Terminals, and the RCMP with support from the RCAF.

Link to additional information & images available HERE.

ABOUT Swerve Strategic
Swerve is an award-winning full-service marketing communications agency. We understand that human decisions are driven by emotion. Through strategic storytelling, we create an emotional connection between brands and consumers.

Swerve specializes in integrated marketing campaigns with a focus on strategic development, digital marketing, earned media, PR, influencer marketing and events.

SOURCE Swerve Public Relations Inc.