Financial_Year2017-18-Cigniti.pdf - Powering Digital Transformation with Quality Engineering DevOps Automate Accelerate Assure Annual Report 2017-18

Financial_Year2017-18-Cigniti.pdf - Powering Digital...

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Unformatted text preview: 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 forwardlooking 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 critical topic for board-room discussions as opposed to just being an innovative trend just a few years ago. Organizations across the globe are implementing the best-in-class quality engineering & DevOps practices to address their digital needs and to provide a fillip to their digital transformation endeavors. The digital transformation journey is as much about strategic approaches as it is about technology and people. To succeed in their digital journey, enterprises need to have their quality engineering strategies thought out thoroughly and executed impeccably. They also need to leverage strategic partnerships globally to help them achieve the much needed agility in the 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 everevolving 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 is a proven practice that has a far reaching impact on every aspect of an enterprise. Thousands of business apps are being launched daily, and the user expectations and number of connected devices are skyrocketing. CIOs today thus need to focus on making their projects future-ready. Digital Transformation is a proven practice that has a far reaching impact on every aspect of 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 2 Consumer Experience & Empowerment Digital Technologies Process Digitization Performance Management Powering Digital Transformation Digital Maturity Organizational Transformation Corporate Overview Management Reports Financial Statement Role & Criticality of Quality Engineering and Quality Assurance As digital trends evolve, so must a business’ approach to building and integrating a seamless digital customer experience. Digital transformation requires examining technology and business models to make sure they effectively engage customers at every touchpoint in the customer experience lifecycle. Clients need to drive towards digital transformation to unlock the value and reap the benefits by helping create, deliver and sustain technology solutions that offer experiences to engage customers at every touchpoint. Quality Engineering, or QE is the model that provides the flexibility and the power to underpin this kind of organizational change. Performance, functionality, security, and accessibility are some of the key factors that are expected from an 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. QA can be decoded differently for different organizations. Nonetheless, customer experience can be achieved by ensuring performance, security, functionality, and accessibility. This can be realized with rigorous testing and constant monitoring efforts. QE works essentially to streamline processes and support the teams to align effectively with the quality metrics. Cigniti’s quality engineering services cover the Software Testing Life cycle, Test Consulting and Test Advisory services, Test Implementation and Managed Testing services including Test Environment Management and Test Data Management, leveraging process frameworks, methodologies, and tools. We help customers across various industries achieve firsttime-right solution releases, quality improvements, and deliver a superior customer experience. 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 up the necessary quality standards and processes for every sprint. 3 Cigniti Technologies Ltd. Annual Report 2017-18 The Top 10 Digital Quality Engineering Trends of 2018 Machine Learning (ML) & Artificial Intelligence (AI) Mobile & Client Computing Internet Of Things (IoT) ML enhances the capability of computer systems to evolve, learn & get programmed. While AI-enabled driverless cars & delivery drones are a reality, rigorous testing & QE are needed to make them successful. The underlying idea of Mobile & Client Computing is to centralize data & communication, which enhances its mobility & helps seamless flow of data. Streamlining the flow of information & engaging the client systems will be an enabling factor in the digital transformation process. Engaging, interesting and inventive, IoT has been a point of experimentation for global enterprises and industries. Applications of IoT have been spreading across industries and will be a driving factor for growth. Bots Security Blockchain The application of bots is prevalent across sectors, including consulting & service domains. The idea is to automate the recurring & structurally repetitive activities so your employees can be freed up to perform more complex tasks. Whether it is connected devices, AI, VR or AR, there will be open nodes that will need a secure interface. Security will dominate corporate decisions, highlevel discussions and development strategies. The concept of Blockchain apps is being explored across domains to leverage its intrinsic benefits. With industries exploring ways in which it can be applied even at the conceptual level, QE is poised to become an integral aspect of the development process as a result. 4 Powering Digital Transformation Corporate Overview Management Reports Financial Statement Intelligent Apps Digital Twin Cloud Implementation Businesses need high-processing intelligent apps to enable better decision making & quick turnarounds. These apps must provide actionable business & customer insights that enable decision making & positive business outcomes. Digital twins refer to the digital representation of physical objects. They drive the business impact of IoT by offering a powerful way to monitor and control assets and processes. Cloud implementation works continuously to offer connectivity, bandwidth scalability and greater functionality for the software development process in the realm of digital transformation. Business Intelligence (BI) & Analytics BI and Analytics provide foresight for businesses by showcasing a historical, contemporary and even futuristic perspective for the business. BI and Analytics tools enable various organizational functions to make informed decisions and stay prepared for any potential challenges. 5 Cigniti Technologies Ltd. Annual Report 2017-18 Role of DevOps in the World of Digital Transformation A successful implementation of DX technologies is absolutely critical to ensure desired customer experience and improved RoI. Analysts, CIOs, and strategists claim that the DevOps approach has been winning digital wars for their enterprises with its intrinsic principle of Collaborative and Continuous Development. Consistent experimentation and upgrade is the key to growth, which also means that there is a growing and constant need to test these platforms for sustainability, experience, and quality assurance. DevOps provides this much needed approach to build a process that supports continuous delivery and continuous testing. It’s an approach that encourages seamless collaboration between development and operations to deliver a software/application. 6 Powering Digital Transformation This reduces the gap between developers and operations in the software development process. This facilitates added productivity and smooth workflow that enables continuous delivery for the organization to empower it in the longer run. DevOps tools are also leveraged to support the process and make it traceable for the respective teams. Corporate Overview At the conceptual level, DevOps encourages transformation not just at the development level, but also at the organizational level. Only when all the functions collectively work, DevOps can be a complete success. But how does this add value for Digital Transformation initiatives? Digital Transformation involves building applications that can be quickly updated without impacting consumer experience. These consumer-centric applications are needed by every business to reach out to the customers and make an impact. This is the fundamental reason why enterprises are leveraging DevOps to build contemporary web and mobile applications. DevOps comes with some robust features to enable the much needed Digital Transformation initiatives and ensure the best possible ROI with it. Most important of all, the practice of DevOps brings together cross-functional teams that team up and streamline various outcomes to reach the desired business outcomes. Tools are needed to manage the same, such as the business, performance, database, functionalities, applications, and much more. Nevertheless, the basic concept remains the same, that is, to encourage collaboration and shared responsibility. Management Reports Financial Statement Digital Transformation is all about gaining speed, quality, and ensuring RoI from every new technology implemented. DevOps enables the same by facilitating Continuous Development, Testing, and Integration in the Application development process. An application can be loaded on the Cloud or could be on premise, however, a DevOps approach is needed to ensure that there is no downtime and the consumer experience is not impacted. Meeting the expectations of the consumers in this scenario of minimal attention span is integral to any Digital Transformation initiative. When companies bring in DevOps practices they tend to achieve larger goals with minimal impact and with less complexities. DevOps organizations are able to deliver with added speed, functionality, and more innovation. It also offers technical benefits such as Continuous Software delivery, reduced complexities to manage, and faster resolution of problems. Moreover, there are cultural benefits for the organization as well – more productive teams, higher engagement of resources, and better growth opportunities with more collaboration. Consequently on the business front, it enables faster delivery of features, much more stable operating environments, enhanced communication, and more focus on innovative outcomes. It is evident that practices such as DevOps offer the flexibility that is important for successfully implementing Digital Transformation. DevOps organizations are able to deliver with added speed, functionality, and more innovation. It also offers technical benefits such as Continuous Software delivery, reduced complexities to manage, and faster resolution of problems. 7 Cigniti Technologies Ltd. Annual Report 2017-18 Unlocking The Power of Digital Transformation With Test Automation Gartners’ latest test automation research “Critical Capabilities for Software Test Automation” (published February 2018) evaluates 10 popular functional software test automation offerings. The research focuses on how test automation tools compare on the 14 critical capabilities that Gartner selected as the most critical points of comparison. Gartners’ “Magic Quadrant for Software Test Automation” evaluates the major vendors used to accelerate and scale functional test automation. One of the inferences of the report is ‘Supplement your test automation investment with other products — such as test management, continuous integration offerings, and release automation tools — to zero in the portfolio of tools based on alignment with available skill sets and factoring in time-tomarket requirements.’ Test Automation as a practice has been leveraged by enterprises to not only bring speed for testing and development, but also to assure quality in the Software Development Lifecycle. Quality Assurance is a critical area for every industry, where software testing plays a critical role to ensure desired customer experience. In order to build products that can meet the needs of the market, enterprises are embracing Test Automation to build robust software. Test Automation ensures faster turnaround, rigorous testing, and cost-effectiveness in the long run. 8 Powering Digital Transformation Corporate Overview Management Reports Financial Statement Factors Impacting Customer Experience Accessibility Page Load Speed User Navigation Simplicity of Use Secure Interface Real-time Assistance Personalized Features Test Environments and Digital Transformation The test environments are evolving and getting more equipped, which is adding feasibility for all testing requirements. Digital Transformation is propelling the need for Agile and DevOps methodologies to offer greater flexibility and instantaneous updates. Test Automation is adapting to these changes and offer solutions to operate in these volatile development scenarios. Testing frameworks will have to get more robust and reusable to bring in cost-effectiveness and efficiency not just for single testing requirement but for any similar testing needs in the future. Currently, we see a lot of permanent test environments, which is going to change and virtualization will be the key to boost agility and speed. Adoption of New and Emerging Technologies Test Automation is imperative across diverse industries, especially when organizations have to adopt new technologies and build innovative applications for enhanced consumer experience. Software testing and quality assurance help businesses to effectively adopt a new technology. Test automation suites and frameworks enable testing and development teams to rigorously and repeatedly test their enterprise applications under varying environments. This empowers organizations to confidently launch their applications in the consumer environment for commercial success. Performance Test Automation: A Strategic Step for Assured Customer Experience Performance Testing with automation is an essential and conscious decision that organizations take not only to achieve sustainability, but also speed. While building a super powerful gaming application that can run across devices and is targeted for online gamers, it is important to check its performance under varying n...
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