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Exam Code: 1Z0-447 Practice test 2022 by Killexams.com team
1Z0-447 Oracle GoldenGate 12c Implementation Essentials

Exam Title: Oracle GoldenGate 12c Implementation Essentials
Exam Number: 1Z0-447
Format: Multiple-Choice
Duration: 120 Minutes
Number of Questions: 72
Passing Score: 69%
Validated Against: Exam has been validated against Oracle GoldenGate 12c.

Oracle GoldenGate (OGG) Overview
- Describe OGG functional overview and common topologies
- Describe OGG Veridata and Management Pack functionality
- Describe the difference between real-time data integration replication and Data Manipulation Language (DML) replication

Install and Configure OGG
- download and Install OGG, and differentiate between various installers (zip, OUI, tar)
- Synchronize source and target databases with the Initial Load
- Prepare database for OGG CDC and check databases with OGG schema check script
- Configure OGG Replication component parameter files
- Configure the OGG Command Interface to create OGG processes
- Describe how to identify and resolve issues in heterogeneous replication, and provide appropriate solutions
- Configure OGG utilities

Mapping and Transformation Overview
- Implement use cases for transformation functions
- Implement macros

Managing and Monitoring Oracle GoldenGate
- Manage OGG command and data security
- Implement and troubleshoot OGG Monitoring
- Explain the configuration and management of the Enterprise Manager 12c plug-in
- Implement and troubleshoot OGG Veridata

Architecture Overview
- Describe OGG components
- Create the two types of Capture processes for Oracle database
- Create the three types of Replicat processes
- Explain the difference between an Extract and Pump, and local and remote trails
- Configure OGG's process recovery mechanism

- Describe and compare GLOBALS versus MANAGER parameters
- Create solutions using component parameters for replication requirements
- Install OGG parameters
- Explain and identify parameters specific for non-Oracle databases

Configuration Options
- Describe OGG configuration options (Data Definition Language (DDL), compression and encryption options)
- Configure OGG event actions based on use cases
- Troubleshoot conflict detection and resolution
- Configure Integrated Capture, Replicat, and deployment options

Oracle GoldenGate 12c Implementation Essentials
Oracle Implementation outline
Killexams : Oracle Implementation outline - BingNews https://killexams.com/pass4sure/exam-detail/1Z0-447 Search results Killexams : Oracle Implementation outline - BingNews https://killexams.com/pass4sure/exam-detail/1Z0-447 https://killexams.com/exam_list/Oracle Killexams : Multiple reports outline Oracle’s decision to lay off thousands of workers

DURHAM – Oracle will make job cuts and layoffs, according to reporting from The Information that was also reported on Monday by Reuters.

Media company The Information, a publication focused on news from Silicon Valley’s technology sector, reported in July that Oracle, would consider layoffs as a part of a $1 billion cost-cutting proposal.

According to the most latest report, filed Monday, the company’s layoffs include those from the company’s headquarters in Austin, Texas, as well as some workers based in the company’s California offices that were formerly its headquarters.

WRAL TechWire has not yet confirmed whether any North Carolina residents were impacted by layoffs at Oracle.  The company, which maintains a significant workforce in the Triangle and also has many other employees based in North Carolina, could not be reached for comment on this story.

Job storm on horizon? Layoffs, drop in tech hiring, more signs point to cooling

Layoff Watch: Job cuts are beginning to mount across NC – here’s the latest

Mon, 01 Aug 2022 11:01:00 -0500 en-US text/html https://wraltechwire.com/2022/08/01/layoffs-at-oracle-as-tech-giant-begins-to-make-cuts/
Killexams : 12 Game-Changing Software Solutions to Power Your Startup

Functional, easy-to-use software is a fundamental part of what makes businesses operate successfully. When starting your own business, it’s important to choose software that will help you manage all of the moving parts of your company, like employee monitoring, customer relationship management and email marketing. Learn more about the different types of software that are critical to support your business operations.


All businesses need to keep track of their finances – money going out, money coming in, profits, losses and so on. While you don’t necessarily need to hire a bookkeeper or get a CPA to complete your taxes, accounting can be difficult to manage without the right software. Here are our top picks for the best accounting software on the market.


Intuit QuickBooks Online is ideal for small businesses. It has many great accounting features, easily integrates with other software, is customizable and affordable, and has a great reputation. The system has features for accounts receivable and accounts payable, and it tracks projects and inventory. You can also pay for live, full-service bookkeeping services through QuickBooks. [See more features and benefits of accounting software in our guide.]

The platform is a great time-saver, which can be invaluable when starting a business. For instance, users can add product images and bundle items that are typically sold together when managing inventory. QuickBooks also increases efficiency through the use of their mobile app so that you can keep track of your numbers on the go. No matter which industry you’re in, your company’s financial information is incredibly valuable, and QuickBooks offers bank-grade security. Learn more in our full review of QuickBooks Online.

Oracle NetSuite

Oracle NetSuite is an enterprise resource planning platform that also has a powerful and intuitive financial management solution that helps businesses keep track of all of their financial data and automate all of their accounting functions. It expedites transactions, such as accounts receivable and payable, and has many reporting, planning and billing features. It can also integrate with other software.

NetSuite allows you to design and implement your business’s unique financial process into the accounting platform and provides real-time access to data. Additional tools include warehouse management, inventory tracking, inventory auditing, order management and multiple location management. You can learn more about these features in our full review of Oracle NetSuite.


FreshBooks is perfect for businesses that generate a lot of invoices, as you can create them quickly with this software. You can set up recurring invoices, schedule automatic payment reminders, and accept credit and debit card payments online. The system even monitors invoices after they’ve been sent and shows when customers have viewed and paid them. In fact, we deemed it the best invoicing software in our FreshBooks review.

FreshBooks also helps you track and bill expenses to be added to invoices. Other reports generated through the platform include profit and loss statements, sales tax summaries, expense spreadsheets, and time-entry details. It is an easily integratable software, and you can invite employees, contractors, accountants and business partners to work with your account.

FYIFYI: As a business owner, you’ll need to learn how to reconcile a business bank account. Fortunately, these bookkeeping tips can make the process easier.

Employee monitoring

The right employee monitoring solution is vital for tracking staff productivity, blocking inappropriate websites in the workplace, and overseeing time and attendance. Here are some of our suggestions for the best employee monitoring software available.


Teramind is a great employee monitoring software for businesses concerned with security threat protection, as it offers a data loss prevention package to secure your company’s network and data. Though not the cheapest option on the market, it is easy to use, and the company offers installation assistance.

Teramind allows you to track your employees’ hours and activity, as well as the applications they access. It also monitors incoming and outgoing messages, printing jobs, and user searches, and you can set behavioral rules. Teramind’s reporting system provides employers with keen insights into employees’ work habits. Read our review of Teramind for more details.


InterGuard is a high-quality employee monitoring system for businesses with remote and distributed teams. Its features include employee activity logging, email and chat logs, web content restrictions, and protection for sensitive company information. InterGuard can also archive productivity data. The system can even come in handy for ensuring HIPAA compliance and if you ever need evidence to defend yourself in a wrongful termination lawsuit. Learn more in our full InterGuard review.


ActivTrak is top-of-the-line employee monitoring software for tracking workplace analytics, as it has advanced workplace insight features. These tools are ideal for breaking down employee information in an easily digestible manner, and they allow you to look at team comparisons, activity breakdowns, work efficiency, workload balance, technology usage, and benchmarks and goals. It helps maintain network security by blocking potentially unsafe websites and prevents the copying of sensitive information. In addition to time tracking, ActivTrak also logs productive versus unproductive behaviors. Our thorough analysis of ActivTrak found it’s the best employee monitoring software for workforce analytics.

FYIFYI: Employee monitoring systems help you keep track of your employees’ productivity while overseeing important tasks and projects. You may also want to consider dedicated tools to measure employee performance or the best project management software.

Customer relationship management

New businesses need to attract customers and then retain them by building quality relationships. A customer relationship management (CRM) system can help you do just that. It is also an effective tool for understanding what makes your company successful and how you can maintain that success. Check out our recommendations for highly rated CRM software


The popular Salesforce platform’s many features, third-party integrations, and add-on options make it ideal for a growing business, which we found to be its best use case in our full indepth review of Salesforce. In addition to the third-party integrations, Salesforce as a vendor has a wide range of its own business products that work well together. Its software is also highly customizable, which means it can adapt to a company’s changing needs. 

Some of the CRM assets are an online community (Trailblazer), built-in project management and an easy importation process from tools like Gmail and Excel. Though the CRM implementation process varies due to Salesforce’s highly customizable nature, it is a fairly intuitive system and therefore easy to learn. 


Freshworks is a good match for businesses that make and receive a lot of sales calls, as it has an integrated business phone system that allows a team to manage inbound and outbound calls. It also has tools for email marketing campaigns, managing leads and deals, and tracking analytics. Freshworks, formerly known as Freshsales, has a user-friendly interface that is easy to learn and comes with a free resource library to help expedite the setup process. Other CRM features it offers include an interactive voice response system, social media integration, AI-based insights and workflow automation. We cover these functions in more detail in our Freshworks CRM review.


HubSpot provides a free plan that is perfect for businesses that haven’t used a CRM system in the past. It comes with templates, social tools and an online resource library with training resources. The platform also has CRM reporting tools that allow you to examine your pipelines and sales performance thoroughly. It helps you analyze revenue forecasts by the deal stage, observe productivity on the individual and team levels, and assess current deals from multiple perspectives. Other features include automatic profile enrichment, live chat, click-to-call in-app dialing and a meeting scheduler. Learn more in our review of HubSpot CRM.

TipTip: When choosing the right CRM for your business, consider whether you want a cloud-based system, and examine its device compatibility. 

Email marketing

Email marketing is an excellent method for reaching customers to inform them about deals, new products and any important updates. The best email marketing software is optimal for communicating with clients, whether you want to send an email blast or automate customer service responses.

Constant Contact 

Constant Contact is perfect for small businesses, as it is affordable and easy to use, integrates with other software, and offers all of the tools necessary to send out effective email marketing campaigns. It features a drag-and-drop email editor, A/B testing, an autoresponder, email templates, email list management, reporting, and analytics. While Constant Contact doesn’t have any free plans, it does offer a 60-day free trial. As soon as you set up your account, you can begin creating your first email campaign. Learn more in our Constant Contact analysis.


Sendinblue is a great fit for growing businesses focused on a volume-based email marketing plan. Some features include a drag-and-drop email creation tool, an email template library, email personalization, SMS marketing, customizable sign-up forms and real-time reports. Sendinblue joined forces with MeetFox, a video conferencing and meeting scheduling company, so you can integrate scheduling components through email, apps, direct messaging and social media. In addition to scheduling calls with clients through an automated system, users can host meetings directly from their website using branded video links.


Benchmark is another suitable option for smaller businesses because it is affordable and contains email automation features, responsive templates and an easy-to-use email editor. It also provides A/B testing, campaign analytics, an email designer and tools to build an email marketing list. Every feature in Benchmark has simple, step-by-step instructions, and the platform even includes instructional videos throughout the dashboard. The system can also easily integrate with other software, such as WordPress, Facebook, Google, Slack and Salesforce. Get more details in our full review of Benchmark’s email marketing software.

Tip: To determine whether your email campaigns are successful, look at key performance indicators like your email open rates and bounce rates.

Importance of the right software solutions

Every company relies on many components to run, and the right software can help a business owner stay on top of them all, from managing employees to handling accounting tasks to executing marketing campaigns. The best solutions will help you conduct everyday business operations and increase efficiency so you can not only get your enterprise off the ground, but also set yourself up for future expansion. Most vendors offering business management software have packages designed for small businesses and startups, especially in terms of pricing, so you can pick something that works for your current budget and scale as you grow.

Tue, 28 Jun 2022 12:00:00 -0500 en text/html https://www.business.com/articles/game-changing-software-solutions-to-power-your-startup/
Killexams : API Economy as a Key for Success of Future Banking and Finance

Application Programming Interfaces are an integral part of the emerging digital space. Without them, benefiting from many of today’s habitual financial services would be at least difficult if not impossible. In this piece, Andersen’s experts in FinTech software development will tell how API-based IT solutions contribute to the success of banks and financial organizations.

A brief outline of API technology

APIs allow FinTech companies to make data and features of their applications available to external custom software development companies, business partners, and internal departments. Thus, services and products interact with each other using third-party data and features via dedicated interfaces. The implementation of API protocols is required for looking up the weather forecast in real-time, making a bank transfer, studying text messages, and more. 

RapidAPI Developer Survey 2020-2021 attests to the popularity of this tool. Namely, 61,3% of software development companies said that in 2020 they had used APIs in their work more frequently than in the year before that, while 71,1% of respondents were planning to increasingly use them in 2021. Over 58% of organizations consider implementing the API economy model to be their highest priority. In their view, APIs are mostly used in Telecom, Healthcare, and Finance. 

Rest APIs remain a dominant technology, and there is also a growing interest in Websockets, Serverless & FaaS, gRPC, etc. For example, in 2020, the usage of AsyncAPIs and GraphQL increased by several times. The larger a company is the more internal services and communication protocols it uses. For example, 40% of major companies employing ten thousand people and more reported that they simultaneously use over 250 internal APIs. Three in four companies are inclined to rely on their own solutions while reducing their dependence on external products.

The API market dynamics

According to MarketsandMarkets, the global API management market will reach $5.1 billion by 2023 growing by nearly five times compared to 2018 and at an average annual rate of 32,9%. The forecast by Adroit Market Research, in turn, states that the global API market growth will surpass $21 billion by 2028.

Tools for API platforms, analytics, and security are increasingly used thanks to the advancement of mobile technologies. This motivates companies to develop their solutions for internal and external use. 

The above two pieces of research underscore the advantages of cloud technologies compared to the on-premises approach when a company uses its own data centers. Cloud technologies reduce companies’ expenses and speed up product development.

North America is the main region for the development of API technologies. There, API-related technologies are commonly used, vendors supply API management solutions on a massive scale, technology is constantly evolving, and there are skilled and knowledgeable experts. 

The rapid API market advancement is projected in the Asia-Pacific region with its technological leap and increased number of users.

APIs are most commonly used in Telecom, the IT sector, Banking, Finance, Security and Insurance, and public administration. The Banking and Finance industries are constantly looking for cutting-edge, flexible, and efficient tools for providing their clients with digital services. Numerous are developed by large organizations at a faster rate than by small and medium businesses.

The following infographics show the API management market growth by region.

The main global market players are Adobe, IBM, Oracle, Google, Red Hat, Software AG, Microsoft, SAP SE, and others. These are mostly US and European companies.

The API economy structure

Some companies following the global API trend don't fully understand how the API economy structure is organized. Thus, their API implementation strategies are inconsistent and fragmented.

The API economy is based on the following pillars:

  • the right approach to API adoption;

  • the choice of the right technology;

  • API development management;

  • the establishment of an ecosystem. 

Let’s consider how the above stages are implemented within Banking, Finance, Security, and Insurance.

The right approach to API adoption

Companies implement a business-driven approach to API management based on the adoption of Payment Services Directive 2 (PSD2) and Open Banking. These regulatory policies allow external financial service providers access to banking data, transactions, and other financial data of banks’ clients and financial institutions via APIs. 

The above approach is based on the API-first mindset and the top-down approach. The former suggests shifting a company’s business and IT processes to applying key API management principles. The latter requires that any solutions are made and the main channels of communication with clients are established via APIs. 

API reusability allows companies to develop their products based on already existing solutions. This principle substantially speeds up product launches and allows companies to get ROI faster. 

To implement the right approach to API adoption, financial institutions must change their organizational policies, ensuring communication with their clients and within their organizations mainly via APIs. Financial institutions can develop them in-house, order them from software development companies, or use open-source solutions.

The choice of the right API technology

The choice and comprehensive implementation of a suitable technological solution is another crucial factor for establishing the API economy. This stage is required to build the production environment. As a rule, companies consider the following tools and technologies:

  • API management platforms are the core of an entire API management system allowing organizations to establish data security policies, choose communication protocols and repositories, and get data analytics;

  • Microservice architecture is a decentralized system for data processing and storing. Thanks to it, companies perform the needed operations and establish communication protocols within the IT architecture of their solutions. Thus, each API is functioning independently, is easy to develop, and is testable and secure;

  • API management catalog is a cataloging system that stores information about APIs for their subsequent reuse or for the development of new APIs;

  • API monitoring technologies are used for efficient platform and service management, collection of statistics, and managing systems’ performance and user access.

The following infographics represent API architecture.

Companies face the challenge of choosing the right platforms for ensuring their production and communication processes, organizing efficient and harmonious microservice structure, and establishing effective API cataloging and monitoring. To do so, businesses look for reliable finance software development companies that specialize in API development and implementation.

API development management

This stage of the API economy implementation involves the adoption of Agile practices for API development management. The following development teams are responsible for API development:

Central teams manage API software architecture and processes on a platform level, establish use standards and patterns, and work with API-related tools, defining API development strategy.

Business unit design teams coordinate the interaction of API processes and standards within departments. They manage API development based on legislation and company rules within their industries, e.g. Finance, Insurance, or Banking. For these purposes, API capability centers are established.

Finally, delivery teams whose work is based on DevOps principles finalize a product. They rely on strategic principles and standards outlined by central teams, and on developments achieved by business unit design teams.

Successful API development and implementation lie in the efficient distribution of tasks between different teams, as well as in the interaction of customers with the key FinTech development certified on a project.

Building of API ecosystem

To ensure the stable functioning of the API economy within an organization it needs to establish an ecosystem where API solutions are included in its production and marketing strategies as a key element of the infrastructure. The API ecosystem establishment implies using of developer portals for efficient support and transparent document flow.  

It's recommended that an organization’s certified would participate in technical conferences, meetups, and hackathons where new ideas for the development of API banking solutions are generated. After all, businesses should implement advanced, user-friendly, and innovative software products to stay competitive in fast-evolving markets. 

A consumer-first approach is also crucial for building a productive ecosystem. It implies paying attention primarily to the development and improvement of services that are used by an organization’s clients and business partners most.

Finally, companies successfully monetize their API ecosystems by leasing their tools, adopting new payment methods, and enhancing client support.

To sum up

The API economy is the future of companies in the Banking and Finance industries. API solutions help businesses to interact with each other at a new level establishing efficient and convenient communication. 

At each of the API economy levels specified above, companies face the challenge of choosing the right API development and management strategies. Cooperation with top-rated finance software development companies will help companies solve this problem.

Thu, 21 Jul 2022 08:35:00 -0500 en text/html https://www.finextra.com/blogposting/22627/api-economy-as-a-key-for-success-of-future-banking-and-finance
Killexams : Oracle NetSuite Accounting Software Review

Oracle NetSuite is our pick for the best accounting software product that includes enterprise resource planning (ERP). NetSuite has been a leading brand name in the ERP space for many years. Your business can use it to keep track of your financial data and automate all of your accounting functions. But more importantly, you can use NetSuite’s full ERP solution to manage complex business functions on a global scale.

Oracle NetSuite Editor’s Score: 9.2/10

Payments 10/10
Automatic invoicing 9/10
Third-party integrations 9/10
Mobile app 10/10
Customer service 8/10

An established business with a lot of moving parts requires an advanced solution capable of managing complex processes, which is where ERP software can help. ERP refers to an integrated software solution used to manage business processes. Although finance and accounting is perhaps the most important part of ERP, other modules include human resources management, sales, marketing and supply chain. 

Oracle NetSuite is one of the leading solutions in the industry for ERP. This multifaceted solution can expedite an organization’s financial transactions, such as accounts receivable and payable, as well as keep track of a company’s compliance obligations. It has many reporting, planning and billing features, and is designed to be used globally and with multiple currencies. It can be easily integrated with other software, including Oracle’s suite of business solutions. For these reasons and more, we’ve chosen Oracle NetSuite as the best accounting software with ERP tools.

Did you know?Did you know? There are two types of ERP: on-premises ERP (manual installation) and cloud-based ERP (software as a service, or SaaS). Learn more in our article about ERP industry trends.

What We Like About Oracle NetSuite

  • NetSuite uses modular pricing, so you pay only for what you need. 
  • The software is ideal for operations on a global scale, making it a great choice for small businesses that are rapidly scaling into midsize or large businesses. 
  • NetSuite is a widely recognized ERP brand, with more than 31,000 businesses around the world using the software. 

What We Don’t Like About Oracle NetSuite

  • The high price point and steep learning curve are more appropriate for businesses with substantial resources at their disposal than small operations. 
  • There is no free trial, and potential customers need to contact Oracle NetSuite directly for a pricing quote. 

Ease of Use

As an integrated software solution used to manage HR, sales, marketing and supply chain, NetSuite goes far beyond simpler accounting and bookkeeping software. Unsurprisingly, NetSuite was far more complex than mass-market solutions, such as what we found in our review of QuickBooks. Like most of the best accounting software solutions we reviewed, NetSuite displays key business metrics on the main dashboard. As shown below, it’s a very busy interface packed with tools and drop-down menus

We found that while NetSuite’s ease of use might eclipse that of other ERP solutions, it obviously isn’t as user-friendly as basic solutions geared toward small businesses. NetSuite’s complexity means that many business owners may need to consider hiring a consultant to help them navigate the software and make full use of its capabilities. That said, the steep learning curve belies extremely powerful tools and capabilities that you simply won’t get with cheap alternatives.   

Oracle NetSuite dashboard
The Oracle NetSuite dashboard provides an overview of your KPIs.

Source: Oracle NetSuite

Oracle NetSuite Features

If you plan to use Oracle NetSuite as part of a larger ERP solution, you can integrate your accounting processes with other functions, such as inventory management, for a complete view of your business’s income and expenses. Here is an overview of the key features of Oracle NetSuite’s accounting solution.

Financial Process and Operations Management

NetSuite helps businesses design and implement financial processes with their accounting software. It provides the ability to seamlessly connect accounting functions with management systems. Managers have real-time access to their financial data, giving them the ability to create reports or address delays.

Its general ledger gives organizations the ability to input and monitor all of their financial data in a customizable ledger. Through the general ledger, users can report functionality, enhance audit trials and create support for new management.

NetSuite’s accounts receivable and payable features integrate all financial data into an easy-to-use system that functions automatically. They also have management programs for taxes, fixed assets, cash and payments.


If you have multiple clients, vendors or partners, NetSuite can streamline your billing infrastructure. It gives you control and flexibility over your billing process through a centralized framework that includes transactions, subscriptions and projects that go directly to the billing engine. The billing function also allows you to create and manage subscriptions and recurring billing.

Revenue Recognition

NetSuite helps you comply with accounting standards to report financial results in a timely manner. The revenue recognition services enable you to schedule, calculate and report revenue on financial statements swiftly.

Financial Planning and Reporting

Through its planning and budgeting functions, NetSuite can help you plan for your business’s financial future. One really cool function is that NetSuite can use your business’s data to forecast revenue and what-if scenarios, as well as produce budgets. The system can also take your current data in future projections and generate reports.

Global Account Management and Consolidation

Running your business internationally or introducing your products and services into an international market can present challenges. Through NetSuite’s financial engine, you can manage your business finances across your organization globally. We like that the software comes with multiple language interfaces that can help you bridge communication or language gaps.

NetSuite also offers a multicurrency management system that supports over 190 currencies. The software automatically calculates the exchange rate for real-time conversion. It also provides a variety of payment options to resolve international transactions seamlessly.

Oracle NetSuite business processes
Oracle NetSuite streamlines many business processes, from accounts payable and receivable to inventory management.

Source: Oracle NetSuite

Government Risk and Compliance

NetSuite helps organizations set up and monitor their systems so that they comply with their company’s government risk and compliance (GRC) programs. It provides the ability to change systems as your company scales and is audit ready so that any financial issues can easily be viewed and investigated. NetSuite complies with regulatory requirements such as ASC 606, GAAP and SOX.

The program can also transform your GRC program in real time by establishing a sustainable risk-management and compliance process. This feature can save businesses money in the long run, as it can predict major issues.


As an ERP platform, Oracle NetSuite offers seamless integration with all modules (accounting, inventory management, customer relationship management (CRM), human capital management, etc.) available on the platform. NetSuite integrates with many leading business software providers and offers open APIs for new integrations. 

To integrate NetSuite with other business software, a dedicated implementation team is available for an additional fee. The team can also develop additional integrations and project management planning.

Warehouse Management

One unique feature is Oracle NetSuite’s warehouse management and fulfillment module, which helps businesses control inbound logistics, outbound logistics and warehouse inventory management. Using NetSuite, businesses can generate and send purchase orders to their suppliers. They can also set high-priority tickets to an “expedite” list for faster processing. 

Outbound logistics tracks goods leaving the warehouse, which are shipped directly to stores or consumers. This tool includes a “pick, pack and ship” feature, which informs warehouse employees and distribution employees that a product is ready for transport. As an item moves through the warehouse, Oracle NetSuite updates its records to reflect the accurate number of quantities remaining in your inventory.

Did you know?Did you know?Supply chain distribution” and “logistics” mean two different things, although the two terms are often used interchangeably. Logistics is the process of planning how products will get to their destinations, while distribution is the real process of getting them there.

Inventory Tracking

Logistics tools are dependent upon accurate inventory management, which incorporates barcoding, batch and serial tracking to determine where items are located in a warehouse. We were especially impressed by how seamlessly the process fits together. When employees scan a received product into the storage facility, they move it from the loading dock to the appropriate lot, aisle and bin. Once placed, an item is scanned again, and Oracle NetSuite automatically updates its records with the location of the item and the date and time it was scanned.

Inventory Auditing

Once an item is stored in the warehouse, Oracle NetSuite regularly alerts staff to perform “cycle counts,” or inventory audits. These audits reconcile the real quantity of stock in storage with the records maintained by Oracle NetSuite’s inventory-tracking tool. Oracle NetSuite’s auditing features are also designed to streamline inventory audits by cataloging products based on their value, quantity and specific characteristics, like color, size, material and type.

Order Management

The order-management tool helps warehouses ensure an adequate quantity of each item is always on hand without over-ordering and ending up with deadstock, or products that cannot be sold promptly. NetSuite automatically analyzes historical sales and logistics data to determine optimal reordering points for each product, replenishing stock to an optimal threshold when it runs low. NetSuite also accounts for lead times identified through the inbound logistics tools, factoring in how long it takes suppliers to fulfill new orders and adjusting the minimum quantity accordingly.

Multiple-Location Management

Oracle NetSuite also includes a multi-location management tool, which we found useful for a warehouse that supplies several locations. Through lot tracking, bin tracking and serial tracking, you can monitor the flow of goods across your entire business in real time, and NetSuite automatically adjusts optimal stock levels to support demand across all your locations.

Oracle NetSuite dashboard
With NetSuite’s dashboard, you can access all of your accounting and planning information in one place.

Source: Oracle NetSuite

Oracle NetSuite Pricing

Oracle NetSuite’s platform consists of inventory management, financial management, point-of-sale, CRM and employee management software. Depending on the specifics of your business – such as the size of your company, its revenue and the modules you require – the price can vary greatly.

To get an accurate price estimate, you’ll need to speak with an Oracle sales representative, who will prepare a custom quote for you based on your company size, industry and specific needs. Based on our research, the platform starts at approximately $99 per user per month plus a $999 monthly licensing fee. While this base price can be used as an estimate, your costs may vary significantly.  

Oracle NetSuite may not be the best choice for small businesses with more basic accounting and bookkeeping needs. Midsize, scaling, large and international businesses are better positioned to benefit from Oracle NetSuite’s ERP platform. If you’re running a larger company, NetSuite’s integrated ecosystem can save you time and money that would otherwise be spent acquiring and integrating a hodgepodge of software solutions from a variety of vendors. 

Implementation and Onboarding

During our research into NetSuite, we found that onboarding isn’t the simplest process. As with pricing, you will have to contact Oracle NetSuite’s sales team for a free product tour. You can also view a variety of product-specific demos on NetSuite’s website. However, unlike most of the other software packages that we examined, NetSuite does not offer a free trial. 

Implementing NetSuite as a brand-new user likely won’t be a walk in the park for most business owners. An entire cottage industry of consultants exists solely to assist businesses with implementing NetSuite and tailoring it to fit their needs. Although businesses that use NetSuite are generally larger and can probably absorb these extra costs, it’s something to keep in mind for anyone considering NetSuite.

Customer Service

Oracle NetSuite provides extensive customer service for all of its software, including accounting systems. It also provides education services, where users can learn about the software they’re using and get up to speed on any new features or versions of their products. These services come in the form of both documents and online classes.

Real-time support for industries, as well as individual users, is available 24/7. The chatbot on NetSuite’s website can provide users with simple explanations or connect them with a customer service representative.

If you are a smaller business or on a tight budget, consider investing in a dedicated accounting software solution that can be integrated with your other systems and keep track of your finances.


With such a comprehensive set of features, Oracle NetSuite’s major limitation is not so much the software itself. In our view, the drawbacks are the high price point and steep learning curve. Implementation is likely to take a very long time; it may take months, or even years, to fully master the software and its abilities. It is not the most user-friendly system, despite a very wide feature set. This means that Oracle NetSuite is not an appropriate choice for small businesses with limited resources, but it is a great choice for established businesses with lots of resources. 

Small business owners with less complex needs might want to consider lower-priced alternatives for their accounting and bookkeeping needs. Aside from QuickBooks, our FreshBooks review found that software great for handling invoicing, while our review of Zoho Books revealed it to be a fantastic tool for automating processes. 

TipTip: Read our review of Xero to learn about an alternative software package that we believe is a solid fit for a growing business.


To generate our quantitative score and use case, we reviewed software features such as payment and invoicing capabilities, the number of integrations, mobile apps, report generation, supported user count, and customer service. We also assessed pricing and the availability of free trials. Sources of information included in this review were gleaned from the company’s website and software demos. Additionally, we studied user reviews for independent opinions on the software’s pros and cons.  For ERP specifically, we focused on how the breadth of the product creates a unified system that will help businesses meet complex challenges. 


What is Oracle NetSuite?

Oracle NetSuite is an ERP platform with numerous modules to manage financials, HR, inventory, supply chains and more. 

Are NetSuite and Oracle the same company?

The Oracle Corporation acquired NetSuite in 2016; the software package is now formally known as Oracle NetSuite. 

How much does Oracle NetSuite cost?

Potential customers will need to contact Oracle for a quote, although $99 per user per month plus a $999 monthly licensing fee is a ballpark figure.  

Bottom Line

We recommend Oracle NetSuite for …

  • Growing midsize or large businesses (or small businesses making that transition) that require a more powerful, all-in-one ERP solution. 
  • Businesses with the resources to support Oracle NetSuite beyond its monthly costs, such as hiring consultants to assist with training and implementation. 

We don’t recommend Oracle NetSuite for …

  • Small businesses without the resources or budget to accommodate NetSuite.
  • Businesses that want to avoid the steep learning curve that comes with a complex but powerful solution such as NetSuite.
Mon, 25 Jul 2022 12:00:00 -0500 en text/html https://www.business.com/reviews/oracle-netsuite/
Killexams : NetBackup IT Analytics System Administrator Guide

This is the preferred method of ensuring that your database is backed up on a regular basis.

Database Export (Windows)

The database user Aptare must have access to the export files stored in the directory:


Verify that Oracle user has read and execute privileges on these files before starting the database export.

  1. Log into the Windows database server.

  2. Ensure Oracle TNS Listener and Oracle services are running.

  3. At the command prompt execute the script:


  4. After successful completion, the export file aptare_scdb.exp is saved on the Windows database server in the directory:


  5. Copy the file c:\opt\datarcvrconf\aptare.ks to c:\opt\oracle\logs folder.

    This step is required only if database is exported from an NetBackup IT Analytics version of 10.5 or above.

To schedule the export task refer to the following.

See Scheduling the Export Job (Windows).

Database Export (Linux)

The database user Aptare must have access to the export files stored in the directory:


Verify that Oracle user has read and execute privileges on these files before starting the database export.

  1. Log into the Linux database server and switch to user Aptare.

  2. Ensure Oracle Listener and Oracle services are running.

  3. Change to the directory:


  4. Execute the command:

  5. After successful completion, the export file aptare_scdb.exp is saved in the /tmp directory on the Linux database server.

  6. Execute the cp /opt/aptare/datarcvrconf/aptare.ks /tmp command to copy the file aptare.ks to datarcvrconf folder.

    This step is required only if database is exported from an NetBackup IT Analytics version of 10.5 or above.

To schedule the export task refer to the following.

See Scheduling the Export (Linux).

Sun, 31 Jul 2022 12:01:00 -0500 en text/html https://www.veritas.com/support/en_US/doc/140670999-149890373-0/v144256952-149890373
Killexams : The Dark Arts: SQL Injection And Secure Passwords

As the year of 2005 was drawing to a close, a website known as Myspace was basking in popularity. With millions of users, the site was the most popular social networking site in the world. It was unique in that it let users use HTML code to customize their Myspace page. Most of us, c’mon…admit it….had a Myspace page. The coding part was fun! But not everything was changeable with code. You could only upload up to 12 images and the Relationship Status drop-down menu only had a few options to choose from. These limitations did not sit well with [Samy Kamkar], a 19 year old hacker out of Los Angeles.


It didn’t take [Samy] long to figure out how to trick the site to let him upload more images and change his relationship status to a customized “in a hot relationship”. After hoodwinking the Myspace site with some simple hacks, he realized he could do just about anything he wanted to with it. And this is where things get interesting. It took just over a week to develop a script that would force people who visited his page to add him as a friend. But that wasn’t enough. He then programmed the script to copy itself onto the visitor’s page. [Samy] had developed a self-propagating worm.

The script went live as [Samy] went to bed. He woke up the next morning with 200 friends requests. An hour later the number had doubled. [Samy] got worried and sent an anonymous email to the webmaster warning of the worm. It was ignored. By 1:30PM that day, he had over 6,000 friends request. And like any good hacker worth his weight in floppy drives, his sense of humor had him program the script to also add his name to each visitor’s Heroes List. This angered many people, who deleted him from their page, only to get reinfected moments later when they visited another (infected) page.

[Samy’s] script was raging out of control.  As the evening closed in, his friends count had reached 919,664. It would top the 1 million mark just before Myspace took their servers offline to figure out what was going on. Two hours later, the site was back up. [Samy’s] profile page had been deleted.

[Samy] had used a technique known as cross-site scripting (XSS) to pull off his hack. We’ll touch on XSS in a later article. For now, we’re going to stick to the basics – proper passwords and SQL Injection.

Password Security

To begin, we need to touch on some basics.  All of the hacker protections you employ can be rendered useless with an ineffective password. In our last article, we talked about how a group of hackers known as Lulzsec were able to hack software security expert [Aaron Barr]’s corporate website. His main password was “kibafo33”. According to a password security checker, it would take about 11 minutes to crack. Adding a single special character and capitalizing a letter, such as Kiba#fo33, brings that time up to 275 days.

Cracking passwords consists of using common phrases and brute force attacks. With brute force attacks, all letter, number and special character combinations are tried in a sequential manner. Thus choosing longer passwords and a larger number of character types makes it harder to break. This is why many websites insist that you use at least one special character and capitalize a letter as it greatly increases the security of your password. It doesn’t take much effort to create what is essentially an unbreakable password. So before you go checking your site for vulnerabilities, start with your password.

SQL Injection

SQL injection (SQLi) is a technique that allows an attacker to execute SQL statements in an entry field. This technique was used with great success by the Lulzsec hackers. One member who went by the name [Kayla] wrote an automated program that combed thousands of URLs and returned those that were vulnerable to the attack. Typically, a mischievous SQL statement is passed to the database along with a normal input. For instance, one could type into a password field of a username/password login prompt:

password’ OR 0=0

The resulting SQL query would look something like:

SELECT id FROM users WHERE username=’username’ AND password=’password’ OR 0=0

The statement “0=0” that was added is always true. If there are no checks in place, this will result in bypassing the authentication process and logging into the account of the first person on the database, which is usually the database administrator. Now, it’s highly unlikely that you would find a modern website that would have this kind of vulnerability, but it never hurts to check. It is often the simple hacks that are overlooked.


A more advanced form of SQLi is called union based SQL injection. It involves a similar process but uses the UNION SQL operator to gain access to data within the HTTP response. A security company has set up a phony testing website that is vulnerable to this type of attack that we will utilize for demonstration purposes.

Key in the following:


This is a completely normal query but vulnerable to SQL injection. You can tell by putting an apostrophe (‘) at the end of the string and observing the SQL error message. This is a just a test website, so go ahead and try it! We’re going to exploit it by asking for a nonexistent record, such as “artist = -1”. It can be any number that does not exist within the database. We’ll then use the UNION operator to join our malicious statement to the request. The malicious statement will be SELECT.

http://testphp.vulnweb.com/artists.php?artist=-1 UNION SELECT 1, 2, 3

This proves that the database will return data if we ask it nicely. Now let’s get some useful data, like a (fake) credit card number.

http://testphp.vulnweb.com/artists.php?artist=-1 UNION SELECT 1,pass,cc FROM users WHERE uname='test'

Going Deeper


Running rogue SQL statements on a test website is one thing, running them on a real website is another. You will have realized by now that you’ll need to brush up on your SQL skills to truly understand any real penetration testing. Finding real websites with vulnerabilities is the first step, but is not much different from our example. PHP sites tend to be targets as they are more likely to be vulnerable to SQLi attacks. A method called Google Dorking (pdf) is one method used to find these sites. Here’s just one example that can be typed into your favorite search engine:


This turns up about 1.6 Million results, and as before, appending the URL with an apostrophe is the simple test. If an SQL error is returned, the site is vulnerable to an SQL attack. From this point, an attacker would go on to use SQL statements to figure out how many columns are in the database, and then start exploiting it.

Preventing SQL Injection Attacks

You now have more than enough information to start testing your site to see if it’s vulnerable to an SQLi hack. In many cases, the hacker winds up with the MD5 hash of the database password. They’ll then use various crackers to get the password…another reason you should use secure passwords and not use the same password on various accounts.

Preventing SQLi can be done by sanitizing inputs on your webpage. This would prevent anyone from entering “0=0” in an input where numbers are not needed. The vast majority of pages out there will have their inputs sanitized. But it only taks one slip up to expose the entire site to attacks. If ever you happen to run across a site that is not sanitizing its inputs, please play nice and send the webmaster an email. Save your hacking skills for constructive endeavors.



Wed, 03 Aug 2022 11:59:00 -0500 Will Sweatman en-US text/html https://hackaday.com/2016/03/09/the-dark-arts-sql-injection-and-secure-passwords/
Killexams : Microsoft Introduces a New Way for Faster Building Cloud Apps with Azure Developer CLI

Recently Microsoft introduced the public preview of the Azure Developer CLI (azd) — a new, open-source tool that accelerates the time it takes to get started on Azure. It provides developer-friendly commands that map to essential stages in the developer workflow: code, build, deploy, monitor, and repeat.

The Azure Developer CLI is designed to set up the resources developers need to run their applications in Azure. According to the Microsoft documentation, the recommended workflow for the Azure Developer CLI is:

  • Template selection
  • Get and deploy workflow
  • Change code, commit and automatically deploy to running apps 

Source: https://docs.microsoft.com/en-us/azure/developer/azure-developer-cli/overview

Developers can use various commands such as azd init, azd provision, azd deploy, azd monitor, and azd pipeline config.  Also, Savannah Ostrowski, a senior product manager, Cloud Native Developer Tools & Experience at Microsoft, wrote in a developer blog post:

Better yet, you can also use azd up to create, provision, and deploy a new application in one step! For a list of supported commands, see the Developer CLI reference docs. Alternatively, run azd –h from your preferred terminal after installation. If you no longer want or need the resources you’ve created, you can run azd down.

However, Dana Epp, a security engineer, and researcher at Vulscan Digital Security, warned in a tweet:

What's the worst thing for MORE shadow IT for cloud admins to fret about?
It's sexy. Powerful. And puts potential company resources at risk. 
Friend's don't let friends 'right-click deploy'. And they shouldn't allow `azd up` without isolation.

Note that every template comes with source code, infrastructure code, pipeline files, and configuration needed to run the entire solution on Azure and local run and debug in VS Code and Visual Studio. Furthermore, guidance is available through the documentation landing page and getting started video.

A respondent in a Reddit thread on the Azure Developer CLI said:

Looks like another wrapper for something that was already solved. Deploying IaC and applications to PaaS is easy enough with CI/CD tasks. I guess the tool is nice if a developer needs to deploy a test cloud infrastructure and application from a local computer. Still going to test out in CI/CD because never know until used.

Currently, the Azure Developer CLI is in public preview and includes support for Container Apps, Functions, Static Web Apps, & App Services in Node, Python, and C#.  AKS and Java are coming soon. Microsoft uses Bicep in current templates, while other IaC providers, like Terraform, are in the works.

Fri, 05 Aug 2022 11:33:00 -0500 en text/html https://www.infoq.com/news/2022/07/azure-developer-cli-preview/
Killexams : Enterprise resource planning (ERP) software
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    When government ministers or their policy wonks think of technology and the economy, you can virtually certain they are thinking of consumer tech companies, mostly from the west coast of the US. ... Continue Reading

  • Oracle’s Steve Miranda: supply chain analytics changing in response to faster business change

    Covid has shaken the global economy over the past two years in ways it is hard, if not impossible, to grasp – at least while we are still in the thick of it. Adam Tooze’s book Shutdown: how Covid ... Continue Reading

  • Having trouble overcoming the S/4HANA confidence gap?

    As John Lennon and Yoko Ono didn't quite sing, "Give POC a chance!" If you’re one of the many SAP users who’s yet to migrate to S/4HANA, we understand your hesitation. It’s potentially a big ... Continue Reading

  • Thu, 07 Oct 2021 13:11:00 -0500 en text/html https://www.computerweekly.com/resources/Enterprise-resource-planning-ERP-software
    Killexams : BrightView Holdings, Inc. (BV) CEO Andrew Masterman on Q3 2022 Results - Earnings Call Transcript

    BrightView Holdings, Inc. (NYSE:BV) Q3 2022 Earnings Conference Call August 4, 2022 10:00 AM ET

    Company Participants

    Faten Freiha - Vice President of Investor Relations

    Andrew Masterman - Chief Executive Officer

    John Feenan - Chief Financial Officer

    Brett Urban - Incoming Chief Financial Officer

    Conference Call Participants

    Tim Mulrooney - William Blair

    George Tong - Goldman Sachs

    Justin Hauke - Baird

    Pete Lukas - CJS Securities


    Good morning and welcome to today's BrightView Holdings Incorporated Third Quarter Fiscal 2022 Results Call. My name is Bailey and I will be your moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions-and-answers at the end. [Operator Instructions]

    I would now like to pass the conference over to our host Faten Freiha, Vice President of Investor Relations. Please go ahead.

    Faten Freiha

    Thank you, operator, and good morning everyone. Thank you for joining BrightView's third quarter fiscal 2022 earnings conference call. Andrew Masterman, Chief Executive Officer; John Feenan, Chief Financial Officer; and Brett Urban, Incoming Chief Financial Officer are on the call.

    Please remember that some of the comments made today including responses to questions and information reflected on the presentation slides are forward-looking and real results may differ materially from those projected. Please refer to the company's SEC filings for more details on the risks and uncertainties that could impact the company's future operating results and financial condition. Comments made today will also include a discussion of certain non-GAAP financial measures. Reconciliations to comparable GAAP financial measures are provided in today's press release. Disclaimers on forward-looking statements and non-GAAP financial measures apply both to today's prepared remarks as well as the Q&A.

    I'll now turn the call over to Brightview's CEO, Andrew Masterman.

    Andrew Masterman

    Thank you Faten, and good morning, everyone. We are delighted to report on another strong quarter, demonstrating momentum in our fundamental business drivers and the resiliency of our model.

    Before we start, let me take the opportunity to thank the BrightView team for their hard work and dedication in a rapidly changing and challenging environment. Their efforts help fuel our performance and enable us to remain poised for long-term success.

    On today's call, I will review the third quarter performance at a high level, discuss execution against our key growth drivers, elaborate on external headwinds facing our durable business, and outline the confidence underpinning our optimistic long-term view.

    Let me start with Q3 performance. We delivered strong land organic growth for the fifth consecutive quarter, implemented our strategic pricing initiatives and managed through multiple external headwinds with tenacity and focus on positioning BrightView for long-term success. We continue to execute on our successful Strong-on-Strong M&A strategy, made progress on ESG initiatives and enhance our value proposition to customers through technology investments, all while managing through rising fuel costs as well as continued inflation of material and labor expenses. Our focus on organic growth and profitability improvements will enable us to leverage our scale to further power our growth and deliver exceptional shareholder value.

    Let's review a few financial highlights for the quarter on slide 4. Revenue grew by 11% for the quarter, reflecting strong total organic growth of 5.6% and continued benefits from M&A transactions. Strong net new growth, ancillary penetration, snow removal services and pricing initiatives powered our total maintenance organic growth of 3.1% on top of a prior year organic growth rate of 11%. Due to a late spring and extended snow season, our maintenance business benefited from significant growth in snow removal services relative to the prior year.

    In addition our land business delivered 2.3% organic growth, which resulted in total maintenance organic growth of 3.1%, in line with our expectations. This dynamic demonstrates the agility of our business and how our service mix, snow and land, allows us to manage through seasonality.

    A robust rebound in our backlog drove development organic growth of 14%, demonstrating a continuation of our strong performance. Development organic growth continues to exceed our expectations. And looking at the bidding pipeline, we remain optimistic about the momentum in the business.

    It is clear from our top line results that we transform the business to focus on driving sustainable organic growth. Importantly, we anticipate this momentum to continue over the near and long-term. As a result we expect fourth quarter maintenance land organic growth to be approximately 3% in line with long-term plans and development organic growth to be about 8%.

    Furthermore, we are confident that our robust sales engine will continue to drive solid organic growth in fiscal year 2023 and beyond. Adjusted EBITDA was $94 million in the quarter, up about 1% year-over-year. Our profitability was impacted by the unexpected level of increase in fuel costs. Fuel expense increased by about $10 million year-over-year, roughly $1 million of that was driven by volume and the remaining $9 million was price.

    We began implementing fuel surcharges in April, which enabled us to offset approximately $2 million of that rise in fuel costs. As a result, fuel costs had a net impact of approximately $7 million on adjusted EBITDA. Excluding this incremental fuel headwind, our adjusted EBITDA would have been $101 million or up about 8% prior to relative to the prior year, above the high end of our guidance range. The strength of our performance demonstrates the outsized execution of our team across our 280-plus branches.

    Adjusted EPS came in at $0.43 per share for the quarter, reflecting the benefit of latest share repurchases, strong top line performance, and effective management of our direct costs, labor and materials.

    Let's move to slide 5 to discuss our growth drivers. We are intently focused on executing on our strategy, which is validated by the momentum in our business and centered around three main pillars. First, delivering robust organic growth through our dedicated locally driven sales force of 200-plus team members focused on customers and new opportunities. Second, investing in technology, digital services and marketing, to continue to drive a significantly differentiated customer value proposition and expand our market share. Third, executing on our strategic and accretive M&A transactions, enabling efficient expansion in the high-growth markets.

    Let me dive into each pillar with some details. Starting on slide six. Our strong organic growth performance over the last five quarters was powered by significant growth in net new sales, as our sales force continued to attract new and larger customers. Over the last several years, we have increased average job size by more than 40% in the maintenance business, as we attracted customers with larger demands and expanded share of wallet with existing customers.

    Our land maintenance business generated more than $150 million of organic revenue growth over the last five consecutive quarters. Importantly, our growth is ahead of the industry, which is projected to grow at 0.9% for 2022 according to IBIS reporting. This compares to our projected land organic growth of 4% to 5% and our total projected growth of approximately 8% for fiscal 2022. Despite the headwinds we are facing, we are significantly outgrowing the industry.

    Furthermore, we have, and continue to gain market share. Despite the scope reductions, we are seeing across the landscaping industry. These scope reductions are driven by two factors. First, there is natural desilting that occurs as plant life takes group of soil requiring less maintenance over time. Second, the current inflationary environment and some customers -- we've led some customers to actively reduce scope. As a result, we are seeing modest growth in the market that is certainly below today's inflationary levels.

    However, landscape maintenance continues to be a sizable marketplace with massive opportunities, given our share of approximately 3%. Similar to maintenance, our development business is relationship based with the majority of our customer relationships exceeding 10 years. Repeat customers make up more than 85% of our development business. And retaining these repeat marquee clients remains our goal through our intense customer focus.

    Our model is project-based and we learned over decades of experience that highly repeatable customers tend to be more profitable in nature. Our end markets are diverse with a balanced distribution of contract sizes and verticals, including commercial, hospitality, parks and public facilities. Furthermore, we are increasing workload in the public sector, a market that will benefit from increased infrastructure spending. All of these efforts have helped power the recovery of our development business and the strength of its organic growth.

    Let's turn to technology on slide 7. Strategic investments in technology provide a differentiated customer value proposition across all verticals. Technology investments directly support our maintenance book with new and bigger accounts and enhance retention. Technology also drives efficiency and engagement, including many of the tools we've discussed, BrightView or HOA Connect, quality site assessments, Salesforce CRM and service confirmation. Each has been implemented as digital tools to engage customers, while supporting property enhancement and increased ancillary penetration.

    By the end of this calendar year, we will be upgrading our customer portal and launching BrightView Connect 2.0. This enhanced portal will be available to all customers and will put the entire relationship online, similar to online banking. Once this portal is launched, our customers' quality site assessments, monthly reviews, enhancement proposals, contact points and maintenance schedules will all be digitally available. Through this service, customers can engage with us in an efficient manner and we can readily address their needs.

    Importantly, we will be the only landscaping company that offers this customized service, which is aligned with our customers' demands. All of these digital advancements have driven net new growth and is one of the reasons we continue to see it for the fifth consecutive quarter, solid land organic growth, exceeding our industry. In addition, our integrated suite of applications enable efficiency, seamless acquisition, integration and robust data analytics, and operational efficiencies delivered cost savings along with better service quality and safety.

    Let's turn now to our acquisitions and move to slide eight. We continue to execute on our Strong-on-Strong M&A strategy, a strategy we have developed, refined and effectively deployed over the last five years. Our 30-plus acquisitions over that period position us as market leaders in key high-growth MSAs enable us to further extend our reach and grow market share. Importantly, our pipeline remains robust with attractive valuations of more than $700 million of opportunity.

    Recently, we acquired SGS Hawaii, a premier commercial landscaping provider headquartered in Wailuku, Hawaii with operations on Maui, the Big Island and Kauai. SGS focuses primarily on the hotel and resort sector with services ranging from ground management and lawn maintenance to irrigation, tree trimming, arbor care, soil testing and fertilization.

    Importantly, SGS sustainability characteristics aligned with our ESG priorities, SGS utilizes electric powered equipment across all of its operations and its business is entirely supported by a modern specialized electric fleet. SGS's expertise in the hotel and resort industry strengthens our portfolio, while its commitment to reducing carbon emissions through the use of electric powered equipment is the perfect complement to our environmental sustainability strategy. With SGS, we now have presence on all major islands in Hawaii which solidifies our presence in this attractive market.

    Let's now move to Slide 9. Our successful execution comes in a challenging and dynamic environment with sustained uncertainty associated with notably -- most notably with inflationary trends. Let me address three external factors that are influencing our business: Material cost inflation, labor challenges and rising fuel costs. And how our team is responding to position the company for long-term profitable growth.

    Let's start with material cost inflation which has mainly impacted the profitability in our development business. Development has been impacted by material price increases that has put significant pressure on margins over the last five quarters. Historically, contracts had three to six months and sometimes 9-month lead times. We have shifted now to allow 10 to 15 days of pricing commitments in our contracts which shortens the time line and mitigates the impact of rising material costs.

    By the end of this current fiscal year, the impact of the contracts with longer lead times and fixed pricing should be behind us. As a result, we expect our margins in the development business to Excellerate over the coming quarters. Labor cost inflation continues to be a headwind similar to many other companies. Historically, we have seen on average wages increase in the 4% to 5% range and now we are seeing increases in the 6% to 7% range.

    Our pricing volume and operating efficiencies have helped to offset this wage pressure. The teams in the field have done an outstanding job of attracting labor to execute on our customers' demands usually during this busy summer season. In addition, the influx of H2B workers continues to support our labor needs. The combination of this influx and the ability of our teams to recruit and step up has put us in a great position to ensure that we can execute on our customers' demands this year.

    Lastly rising fuel costs have significantly impacted our business this quarter. As I mentioned earlier fuel costs had a net impact of approximately $7 million on our adjusted EBITDA. While we have been able to offset inflationary pressure on wages through pricing initiatives, fuel costs have presented more of a challenge given the rapid escalation in costs.

    Although we instituted food fuel surcharges, they were based on lower gasoline prices back in fiscal Q2. Also keep in mind that these are customers, we reached out to a few months back for significant price increases. It's important to note that the dialogue with customers has been constructive and the majority have accepted the fuel surcharges.

    We have elected to take a balanced approach, absorb some of the incremental fuel costs in the near term and focus on strategic pricing initiatives improving ancillary penetration and attracting larger clients. Ultimately, we believe the impact of rising fuel cost is transitory, either costs will normalize or we will further adjust our pricing in the upcoming renewal season to reflect the continued rising costs.

    Let's turn to Slide 10. Despite these external headwinds business fundamentals remain strong and give us confidence that we continue to be poised for long-term profitable growth. First commercial landscaping is a resilient business that has withstood various economic cycles and environments. We have over 80 years of experience in this business and have navigated countless cycles. Our team is prepared and focused on achieving our goals.

    Second our customers span across a number of diverse verticals. We serve marquee customers across various end markets including corporate and commercial properties HOAs, public parks, hotels and resorts, hospitals and other healthcare facilities, educational institutions, restaurants and retail and golf courses among others. Our business and customer mix give us the agility to continue to thrive in a rapidly changing environment.

    Third, we have a differentiated customer value proposition powered by technology, a focus on sustainability and an unparalleled network of expertise. Fourth, secular trends including moving towards greener equipment and irrigation and maintenance are in our favor and position us very well competitively.

    We have invested heavily behind our environmental efforts and have made great progress in moving towards using greener handheld equipment, as well as technology-powered water systems that reduce usage. Lastly, we have multiple opportunities organic and M&A that will power our growth and fuel long-term profitability. Our organic growth will be driven by technology enhancements, as well as our powerful sales engine and expertise across various ancillary services. Our M&A pipeline remains robust and we are well positioned to attract M&A candidates.

    Before turning the call over to John, I'd like to speak to our environmental sustainability efforts on Slide 11. As a company dedicated to designing developing and maintaining the best landscape on earth, we have continually focused on seeking and investing behind sustainable solutions that minimize, our impact on the environment.

    Our customers have understood the value of sustainability for many years. In addition to reducing carbon emissions, water conservation remains at the forefront for many of our clients particularly as we continue to face drought conditions across several regions in the United States. As the leader in irrigation services, we are thrilled to partner with customers to help them reduce water usage through smart irrigation technology and turf conversion into native landscapes which are less water-intensive.

    Let me illustrate with a couple of examples. A few years ago, we partnered with Oracle to maintain two of their California locations. We installed smart irrigation controllers and planted native plants to help reduce water consumption, enabling them to achieve savings of more than $0.5 million and 91 million gallons of water in one year. Both sites were recognized for efficient water use by the Silicon Valley Water Conservation Awards Coalition.

    We continue to work with Oracle, along with several other large companies across the country with corporate campuses, to maintain native landscapes, track and monitor water usage and enhance irrigation helping them save millions of gallons of water and significant reduced facility costs.

    Importantly, we support customers across a diverse set of end markets including golf course, municipalities, and HOA communities. For instance, earlier this year in Nevada, legislation was put into place that requires turf removal, in cases where grass exists for purely aesthetic purposes. As a result, we are now working closely with a number of HOAs in Las Vegas, to help them convert decorative or nonfunctional turf, into less water-intensive native landscapes.

    Our expertise in water management enables us to drive water conservation efforts and allows us to expand our relationship with existing customers, through additional ancillary irrigation services. We are privileged to work with a diverse mix of customers, who continue to embrace environmentally conscious practices, particularly in the area of water conservation.

    To wrap up, we are pleased with our results and proud of our financial and strategic progress amid a challenging environment. We are executing on our key growth drivers, investing in our sales team and technology, with power net new customers and improved ancillary penetration leading to solid organic growth.

    Our M&A strategy continues to be a reliable and sustainable source of growth. Our disciplined pricing efforts, build on that growth and support our ability to offset cost headwinds. Importantly, we are dedicated to positioning the business to thrive in the face of external macro headwinds, changing secular trends and regulatory requirements. I'm confident that our efforts will continue to position us for long-term profitable growth.

    I'll now turn it over to John, who will discuss our financial performance in greater detail.

    John Feenan

    Thank you, Andrew and good morning to everyone. I'm pleased to report on another solid quarter. We delivered strong organic growth in our Maintenance and Development businesses, and our team navigated through a challenging environment and managed through rapidly evolving external headwinds, including most notably the continued rise in fuel costs. We remain focused on our key investment pillars of cash generation, organic growth, mergers and acquisitions, and margin enhancement over time.

    Before I cover our financial results in detail, I'd like to give Brett Urban, our incoming CFO, a couple of minutes to introduce himself. Going forward, Brett will be leading our earnings calls. Brett?

    Brett Urban

    Thank you, John and good morning, everyone. BrightView is a durable business with multiple growth opportunities, and an exciting time for me to be part of this dedicated team. I have been with BrightView for seven years and have served as head of the company's Financial Planning and Analysis Group, as well as CFO of our Maintenance segment. In my new role, as the company's CFO, I will follow in John's footsteps and support the team to execute on growth drivers that maximize our potential and expand our market share

    In addition, I'll be focused on consistently growing our business, enhancing our balance sheet and executing on capital allocation plans that create long-term shareholder value. I'm fortunate to have John's guidance during this transition period, which will certainly position me and BrightView for success.

    Lastlym I believe engagement with our investors and analysts, is essential to our long-term success. Working with Andrew, John and the team, I look forward to meeting and partnering with you all over the coming months.

    I will now turn the call back over to John, to cover our results.

    John Feenan

    Thank you, Brett. Let me now provide a snapshot of our third quarter results. Moving to Slide 14. Total revenue for the third quarter, increased by 11% reflecting 5.6% of total organic growth. Total revenue growth was supported by increases in both on maintenance and development segments. Maintenance revenues, increased by 7.1% driven by 3.1% of total organic growth, which included 2.3% of land organic growth. Our total maintenance organic growth benefited from better-than-expected snow removal services, as a result of the longer than typical snow season, which offset ancillary services in April.

    Land organic growth was driven by strong contract growth and a continued rebound in our ancillary services. In addition, our pricing strategy contributed approximately 50 basis points to our land organic top line growth, net of scope reductions as expected. Last week, we realized $20.8 million of incremental revenue from acquired businesses. Development revenues increased by 24% compared to the prior year. The increase was driven by a combination of strong organic growth of 14%, and M&A contributions of approximately $15 million.

    We remain encouraged by our pipeline and bid calendar, and we anticipate continued strong organic growth in the fourth quarter, of approximately 8%. As Andrew mentioned, we serve a diverse mix of end markets in our development business and we are seeing growth across all of these verticals most notably in public works, and commercial construction projects.

    Turning to the details on Slide 15. Total adjusted EBITDA for the third quarter was $94.3 million, up 0.7% compared to the prior year. Our adjusted EBITDA performance was impacted predominantly by higher fuel prices. For the third quarter, of this fiscal year gasoline spend represented 3.4% of total revenue compared to 2.2% in the prior year.

    While the guidance for the third quarter that we provided back on the second quarter call reflected the higher level of fuel versus prior year. The real surge was much higher than anticipated, especially in May and June, two of our busiest months of the year, where fuel consumption is at its highest.

    As a result, the unanticipated level of increase resulted in adjusted EBITDA that is about a net $7 million below our expectations. Excluding this incremental fuel headwind, our adjusted EBITDA would have been $101 million for the fiscal third quarter, above the high end of our guidance range.

    Looking at our results by segment. Maintenance adjusted EBITDA was $89 million or down 1.5% compared to the prior year and reflects an adjusted EBITDA margin of 15.9% compared to 17.3% in the prior year. Solid contract growth and a rebound in our ancillary services penetration was more than offset by the surge in fuel prices.

    The rise in fuel prices year-over-year largely impacted our maintenance segment, where the net impact was approximately $6 million. Excluding the net impact of fuel, maintenance adjusted EBITDA margin for the third quarter would have been approximately 17%, roughly flat with the prior year.

    In the Development segment adjusted EBITDA increased by 11.8% for the third quarter. This growth was driven by stronger revenues and the implementation of mitigating actions to offset inflationary headwinds, primarily in material costs. Development adjusted EBITDA margin was 11.2% or 120 basis points lower than the prior year, roughly in line with the guidance we provided last quarter.

    Relative to the prior year, profitability in the Development segment was impacted by higher subcontracted labor, due to project mix, as well as higher fuel costs, which were partially offset by reduced material costs.

    As a reminder, the margin decline in the Development segment represents an improvement over prior quarters, where development adjusted EBITDA margins were decelerating at a greater pace.

    On slide 16, this chart illustrates the historical improvement we have experienced in our development adjusted EBITDA margins over the last three quarters. We expect this improvement to be sustained and we still anticipate achieving positive margin growth in the fourth quarter of fiscal 2022 for the Development segment, despite the expected fuel headwind.

    Turning now to slide 17. For fiscal Q3, corporate expenses represented 2.1% of revenue, a 20 basis point improvement relative to the prior year and reflects our focus on expense management. Interest expense for the third quarter was $15 million compared to $9 million in the prior year, reflecting an increase in interest rates coupled with increased borrowings.

    Looking ahead to the fourth quarter, we expect interest expense to be approximately $20 million, reflecting higher SOFR rates and increased long-term debt due to our latest refinancing.

    Our adjusted earnings per share for the quarter was $0.43, compared to $0.44 for the prior year. Adjusted earnings per share benefited from a decrease in our share count driven by latest share repurchases, strong top line performance as well as solid cost management of direct costs, labor and materials. These benefits were offset by the rise in fuel costs and higher interest expense.

    In summary, we are pleased with the top line growth we delivered during the quarter. Net new growth, improved ancillary trends and our pricing initiatives drove solid organic growth and enabled us to offset labor and material cost inflation. Furthermore, our M&A strategy continued to be a reliable source of growth.

    Fuel will likely remain a headwind for the fourth quarter and we will continue to work to mitigate its impact on our profitability. We believe our pricing initiatives and operational efficiencies will continue to support our goal of expanding margins to pre-pandemic levels over time.

    Let's move now to our balance sheet and capital allocation on slide 18. Net capital expenditures totaled $21 million for the third quarter or 2.8% of revenue, compared to $13 million or 1.9% of revenue in the prior year. This increase was driven by the timing of received orders that were impacted by pandemic-related supply chain challenges. Looking ahead, we continue to anticipate capital expenditures to be approximately 3.5% of revenue for fiscal 2022, which is in line with our latest guidance.

    Net debt on June 30 2022 was approximately $1.37 billion reflecting an increase of $109 million sequentially. Our leverage ratio was 4.8 times at the end of the third quarter, up from 4.4 times in the second quarter. The increase in net debt and leverage ratio was driven primarily by the repurchase of the second tranche of shares held by MSD. We expect positive free cash flow in the fourth quarter and anticipate a modest decline in our leverage ratio by fiscal year-end.

    Moving to slide 19. Year-to-date free cash flow was an outflow of $17 million compared to positive $96 million in the prior year. The variance in our free cash flow was driven by the following: first, $45 million of increase in net capital expenditures, due to the timing of received orders that were impacted by pandemic-related supply chain challenges; $34 million of net outflow associated with the repayment of the payroll tax deferral under the CARES Act; and $13 million of cash tax outflow due to the timing associated with the CARES Act tax planning.

    Looking ahead, we expect fourth quarter free cash flow to significantly Excellerate relative to the fourth quarter of the prior year resulting in second half 2022 results that are in line or modestly ahead of 2021 second half performance.

    It's important to reiterate, that we expect capital expenditures for 2022, to represent approximately 3.5% of revenue in line with our prior projections. And we anticipate a similar run rate for fiscal 2023.

    Fiscal year 2022 free cash flow is not typical of our business which has consistently delivered solid free cash flow, as evidenced by the generation of $500 million of free cash flow over the last five years.

    Looking beyond 2022 and the impact of timing-related drivers such as the tax impact associated with the CARES Act, we anticipate robust free cash flow generation over the long-term. An update on liquidity is on slide 20.

    At the end of the third quarter of fiscal 2022, we had approximately $324 million of availability under our revolver and receivable financing agreement and $26 million of cash on hand.

    Total liquidity as of June 30th 2022 was approximately $350 million, compared to $403 million in the prior year. Our liquidity continues to provide us with ample flexibility and optionality. Let's turn now to slide 21, to review our outlook for the fourth quarter.

    We remain optimistic about the momentum we are seeing in our business and expect to deliver another strong quarter of organic growth in both land maintenance and development segments. Our maintenance land contract-based business is growing and demand for ancillary services is improving.

    We believe this will result in durable organic maintenance land growth of approximately 3% for the fourth quarter, in line with our long-term expectations. Notably, this growth is up a high growth rate in the prior year of 9.2%, which demonstrates the strength of our momentum in our business.

    In our Development segment, we are encouraged by our pipeline and booking and backlog trends. And we expect organic growth to be about 8% for the fourth quarter. In both segments, the market pressure we have seen from inflation which affects the cost for materials needed for projects and labor will continue.

    We are confident that our efforts including pricing will help to offset these headwinds. Fuel will remain a headwind for the fourth quarter, and we will continue to manage the impact on our profitability with fuel surcharges through a balanced approach.

    Given the uncertainty around fuel prices our guidance assumes a fuel headwind that is similar to the headwind we experienced in the third quarter. As a result for our fourth quarter fiscal 2022, we now anticipate total revenues between $711 million and $731 million in line with our prior implied guidance.

    And our total adjusted EBITDA, we now expect between $88 million and $94 million compared to our prior implied guidance of $94 million to $100 million. This decrease is driven by the $6 million to $7 million of expected net impact of fuel costs. Note that at the midpoint, this implies 2% adjusted EBITDA growth year-over-year for the fourth quarter.

    With that, I'll turn the call back over to Andrew.

    Andrew Masterman

    Thank you, John. We have a strong, resilient and agile business. We are leaders in our industry with an unparalleled customer value proposition, supported by our investments behind digital services and sustainability.

    We are executing against our growth initiatives and driving strong momentum in our business. Our investment in sales, technology and marketing continue to fuel our momentum. Pricing efforts will help us enhance our profitability and our excellent M&A engine will support further top line acceleration and expand our footprint.

    Our performance in the third quarter was excellent and we exceeded our internal expectations excluding the fuel headwind. We drove strong organic growth, offset our operational costs, labor and materials through price increases and our teams executed at the highest level.

    We expect this momentum to continue for the fourth quarter. And, as we look out to fiscal year 2023, we continue to see a clear path to approaching $3 billion in total revenues. Importantly, our business generates solid free cash flow and the strength of our balance sheet gives us the flexibility to continue to invest in our business and drive shareholder value.

    Our model creates a cycle of high free cash flow and reinvestment capacity. The recurring revenue model drives profitable top line growth. And that in turn delivers strong free cash flow which is predictable and consistent overtime, as evidenced by the generation of approximately $500 million of free cash flow over the last five years.

    All of these efforts along with the benefit of secular trends give us strong confidence in the long-term prospects of our business. Our future remains bright. And we are confident that we have the right strategy to accelerate our performance.

    In closing, I'd like to thank our customers for their support and partnership, and working with us on managing the current inflationary environment. We are excited to see our customers' landscape blossom, as we move through our green season.

    Also I'm thankful for our teams, for their continued attention to designing, creating, maintaining and enhancing the best landscapes on earth. Thank you for your interest and for your attention this morning. We'll now open the call for your questions.

    Question-and-Answer Session


    Thank you. [Operator Instructions] The first question today comes from the line of Tim Mulrooney from William Blair. Please go ahead, your line is now open.

    Tim Mulrooney

    Andrew, John, Brett, good morning.

    Andrew Masterman

    Good morning Tim.

    Tim Mulrooney

    So, I wanted to ask about your maintenance land business. You were forecasting 3% to 4% organic growth in the back half of the year. And it looks like the third quarter came in slightly below that at 2%. So, I was wondering if that was because you didn't get the net new contract growth that you were looking for this selling season or if maybe there was a slight pullback in enhancement spend could you just provide a little bit more color on the spending patterns that you're seeing within your customer base with a particular focus on how that enhancement piece of the business is doing? Thank you.

    Andrew Masterman

    Absolutely Tim. Yes, it was a dynamic similar to what we saw a couple of years ago and that we had a late spring with snow coming in at the beginning of April. And so as we missed that window for ancillary installation because we had snow coming down that really was the offset.

    So, if we hadn't had the snow, we would have replaced it with ancillary. So, we saw a similar demand as we expected. It just we couldn't get to it because there was snow on the ground. And so it really was that straightforward.

    Tim Mulrooney

    Yes. That makes sense. And we're hearing that from like the pest guys other similar industries were affected by a cold spring. So, that all makes sense.

    Andrew Masterman

    Exactly. And we continue to be very confident that as we go forward that continued growth right around 3% is what we should expect going forward.

    Tim Mulrooney

    Okay. All right. That's helpful too. If I could sneak one more in. Just on pricing. Last time we spoke I think you expected about 50 to 100 basis points of organic growth in maintenance land come from pricing this year. And I know usually you get pricing through changes in scope.

    But this year you're actually expecting price to contribute to organic growth now that we're through that key selling season and with the fuel surcharge, I wanted to check in on that number and see how we should still be thinking about pricing this year if that 50 to 100 basis points contributing to organic growth is the right number or if it's a little higher or lower than that? Thank you.

    Andrew Masterman

    Yes, right in that range, Tim. We're seeing -- we saw this quarter about 50 basis points impacting us from price. And we believe that as you said the pricing and season is by and large over and we expect that to continue into the fourth quarter.

    Tim Mulrooney

    Very helpful. Thanks guys.

    Andrew Masterman



    Thank you. The next question today comes from the line of George Tong from Goldman Sachs. Please go ahead, your line is now open.

    George Tong

    Hi, thanks. Good morning. I wanted to dive a little bit into fuel prices which remain a headwind. To the extent that fuel prices remain elevated, could you talk a little bit more about the strategies you have to manage through the impact?

    You touched on efficiencies and pricing anything directly related to hedging or pass-throughs that you can implement that can help mitigate any surprises or unforeseen changes in oil prices?

    Andrew Masterman

    Yes George and obviously fuel was the biggest impact to our business here in the third quarter. And as we look at the fourth quarter we see fuel continuing to be at a relatively higher level compared to last year. What we continue to do is work with our customers on fuel surcharges.

    We feel like we've pretty much completed the discussions with those customers to be able to continue to receive the surcharges as long as fuel remains above that kind of $3.50 kind of level and so we're able to protect it there.

    Fuel hedges we did not hedge in 2022 for 2023 because we saw escalating fuel prices continuing to raise and we're concerned a little more about the volatility that we would see at fuel. And the last thing I think anyone wants to do is to see the hedge of the peak and when fuel prices potentially came down.

    So, that's why we didn't hedge before. We'll think about it again as we look at every year about hedges as a potential mechanism to be able to offset the fuel. But at this point in time given where fuel is at we have not placed any additional hedges as we look forward into Q1 or Q2 2023.

    George Tong

    Okay, got it. That's helpful. You talked a bit about market impact that you're seeing from inflation as it relates to material and labor in your development business. Are you seeing any easing of trends or peaking of trends here, or is the momentum still sort of up and to the right as it relates to input costs?

    Andrew Masterman

    Yes. And well I will have to say we've said we're beyond the peak. We're kind of on the other side of the curve. And so we saw especially as we progressed through the third quarter as we saw the material portion of material impact or the negative material impact to lessen in the development segment.

    So, we're believing as we go into the fourth quarter that we're going to start to see that turn as we've talked about for several quarters now is that we needed to get towards the latter half of the summer into the fall and we are actually seeing that. We're seeing improvements in our material rates.

    And that's a combination of getting out of the contracts that were priced with historically longer lead times and getting into the newer contracts, which have much shorter lead times. So on the material side we see a turn on that.

    And on the labor side of the business, the teams in both the development and maintenance segments have done an outstanding job of managing labor. If you can look at our notes that we talked about as well as the overall results being able to manage a labor environment and deliver -- basically the only impact being fuel deliver results that were pretty much in line with what we expected with the exception of a commodity base.

    Fuel drive has really been able to give us confidence about what we see looking forward. And this is in combination with leveraging the technology that we've deployed with our electronic time capture and our labor management tools to be able to have that tight management across both segments the Maintenance and Development segments in our business.

    George Tong

    That’s great. Thanks very much.


    Thank you. The next question today comes from the line of Justin Hauke from Baird. Please go ahead. Your line is open.

    Andrew Masterman

    Hello, Justin.


    Hello, Justin. Are you there?

    Justin Hauke

    Yes. Can you hear me now?



    Andrew Masterman

    We can now Justin.

    Justin Hauke

    Great. Thank you. So I wanted to ask I guess how do I ask this a little bit about kind of the balance sheet and cash flow here. The reason why I ask you quantified for 4Q the M&A contribution is going to be about the same as what it's been so $35 million-ish a quarter that you had.

    As we look into 2023 though with leverage being 4.8 times, I'm just curious the extent to which you're able to continue to do a similar level of M&A next year? And part of the reason why I ask is because some of the cash flow headwinds you had this year I think will continue.

    Next year you've got another CARES Act repayment. I think you're making in December. And then also your interest expense the $20 million you're guiding to in 4Q is like $80 million annualized. So I'm just thinking -- I guess the question is how do you think about free cash flow for next year and the ability to actually continue to deploy the balance sheet as you have over the last couple of quarters?

    John Feenan

    Yes. It’s a great. A lot in there Justin. So let me unpack that question for you. I think when we look at the cash flow this year it was definitely impacted when you look at it year-to-date by really three things. It was impacted by the increase in capital, but we were very clear that we expect that to maintain a 3.5%, and you can do that math.

    We also were impacted by I call it the unwinding of the CARES Act where we had benefits and then payments and that was about $34 million $35 million. And then the increase in cash taxes which is more of a normalized rate this year when we were benefited from tax planning in the prior year.

    When we look forward we are very confident that this is still going to revert back to our average. If you go look at our average over the last five years where we mentioned about $0.5 billion we're averaging about $100 million a year and we think that's still very attainable.

    Let me kind of walk you through some of the key points. When we think about where we're going to be next year we've guided -- or we've said that we would be at approximately -- approaching $3 billion right? And what's going to happen next year? We are going to grow so there's going to be a headwind around working capital. We're growing quite a bit.

    We are going to have an increase in interest expense driven by -- mainly around rates and the increase in SOFR. But a couple of positives are going to occur. We're growing the business so we would expect incremental EBITDA. And then when you look at the payments into your piece on the CARES Act, yes, we have that outflow in the first half of fiscal 2023.

    But we're also going to benefit from some tax planning that we've put in place that will more than offset that CARES Act payment probably by a magnitude of 1.5 times to 2 times that CARES Act component. So we're very confident we'll still be in that $90 million - $100 million range of cash generation, which reverts right back to our average over the last five years. And obviously that allows us to continue the M&A strategy.

    Justin Hauke

    Okay. Great. So $90 million to $100 million is kind of -- that's in tune for next year. I guess the next question I don't have a lot on the P&L just because you did a good job talking about the fuel impact and then labor it sounds like it's mostly offset by what you're doing.

    But on some of the items that you're also spending on like all the IT spend this year. I guess, I was just curious how much more is there to go on kind of that spend? Does that taper off after the fourth quarter. And then some of the other items that are excluded like the COVID expenses how much longer is that going to be something that's continuing to impact the results at least on a GAAP basis?

    Andrew Masterman

    Justin, let me talk about the IT and maybe John can then pick up on the COVID expenses. But our IT pipeline that we have for initiatives around digital implementation of tools actually has a pretty long horizon when I look over several years. And these tools are things which will engage customer engagement things like HOA and BV Connect 2.0 that's going to be coming out. That's only 2.0.

    There are actually constructs out there what 3.0 could look like. And as we continue to enhance that combined with tools that help us in our ancillary management, help us in our tree care management things that think about employee engagement.

    There are multiple tools that we have out as we continue to transform this industry into a really a more digital and future-focused organization that will not only drive better customer retention and employee engagement and employee retention, but also look at growth initiatives in our digital marketing spend and our approach to digital. So that IT spend, I don't see coming down and I see the opportunity is fairly significant as we continue to deploy that. Fortunately, that mostly happens in a capitalized way. So we don't foresee that to be an expense headwind at all. And John I'll have you.

    John Feenan

    Yeah. And Justin on the COVID, we expect that to drop precipitously going forward. We have started to see that this year. We're down about $2 million sequentially from Q2 to Q3. We expect that to continue to drop quite a bit, where it will be I would say de minimis in fiscal 2023.

    Justin Hauke

    Great. Thank you for better color on both of those. I appreciate it.

    John Feenan

    Yeah. No problem.


    Thank you. The next question today comes from the line of Bob Labick from CJS Securities. Please go ahead. Your line is now open.

    Pete Lukas

    Hi. Good morning. It's Pete Lukas for Bob. Just looking at it, due to cost inflation scope changes et cetera kind of hard to gauge the underlying growth of the business in terms of net number of contracts, revenue per contract. Just wondering if you could comment a little bit more on how these have trended and give us a little sense and any kind of clarity or more info you can give us on that? And also, is there a better way to look at growth there?

    Andrew Masterman

    Yeah, sure. And I can give you certainly, we looked at price and the impact of price being about 50 bps in the quarter. Outside of that, it's really a combination of contracts and ancillary. We saw some rebound in ancillary, but ancillary is pretty much running at historical levels. So we continue to see net new contract improvement, which basically that's underlying growth. And we saw that in the first quarter, we saw the second quarter and we're seeing in the third quarter and we're going to see in the fourth quarter. And we see that because our contract wins that we've got in the third quarter we see that kind of spill out and basically impact the next several quarters when it comes to contract growth.

    So we do see a significant amount of growth continuing to come into the business and net new contracts and then you look at the size of our contracts also those are growing. So we see our positive about the trends of the investments in our sales force really continue to pay off and will continue to deliver a sustainable picture. We've done five quarters of organic growth. Next quarter, will be our sixth quarter and we believe those quarters will continue. This is a steady machine that we expect to continue to deliver for the foreseeable future.

    Pete Lukas

    Great. And just following up on that. In terms of the biggest focus for new wins, if you could kind of talk about that and what end markets do you think you have the biggest advantages there?

    Andrew Masterman

    Yeah. It's a great question because this marketplace has so many diverse elements of -- there are so many different types of customers. And we are seeing -- it's interesting. We're not seeing necessarily any specific customer except I would say the larger customers, one that have a more sophisticated approach. And so that can be in the commercial area. It can be in homeowners associations. It can be in parks and recreation. But the larger size of a customer comes, the more resonation that comes with ancillary services that we can provide across the whole suite of services we deliver combined with the attention that our account managers who are doing a great job of really engaging with our customers and really demand that level of horticultural expertise combined with direct customer communication. So there is something about size of customer and that's why we've increased the size of our customers by over 40% in the last several years looking at what contracts really demand that high customer touch and really delivers the kind of value that we see. So I would say rather than necessarily any particular vertical, it's more just on looking at the increasing size of the customer.

    Pete Lukas

    Very helpful. Thanks.


    Thank you. There are no additional questions waiting at this time. So I'd like to pass the conference over to Andrew Masterman for closing remarks.

    Andrew Masterman

    Thank you, operator. Once again, I'd like to thank everyone for participating in the call today and for your interest in BrightView. We look forward to speaking with you at upcoming events and we will report our fourth quarter results in November. Until then, stay safe and be well.


    That concludes today's conference call. Thank you all for your participation. You may now disconnect your lines.

    Fri, 05 Aug 2022 10:27:00 -0500 en text/html https://seekingalpha.com/article/4530541-brightview-holdings-inc-bv-ceo-andrew-masterman-on-q3-2022-results-earnings-call-transcript
    Killexams : Last Year’s Global Minimum Tax Agreement Is Delayed Further

    Manuel Balce Ceneta/AP/Shutterstock

    Just when it appeared that discussions concerning global government agreement on a minimum tax for multinational companies were coming to a head, it looks more likely now that a fully-formed global tax agreement among over 130 jurisdictions will be further delayed.

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    As The Wall Street Journal (WSJ) reports, a formal agreement on the multilateral deal will take longer than predicted and is now expected to be completed in 2023, with implementation occurring in 2024.

    The idea behind collecting more tax from large companies in countries where customer bases exist, but where company employees and operations are not actually located, has been bandied about for about a decade. However, it was only between July and October of 2021 that definite plans and outlines were established.

    According to The Tax Foundation, last July’s announcement by countries negotiating details at the Organization for Economic Co-Operation and Development (OECD) prefaced an agreement on an outline for new global tax regulations.

    On Nov. 4, 2021, 137 jurisdictions had agreed on the “Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy,” which postulated reforms concerning where corporations pay taxes (“Pillar One”; affecting about $125 billion in profits) and a global minimum tax (“Pillar Two”; raising tax revenues by approximately $150 billion around the world).

    However, according to The Guardian, there are many facets to both pillars and “still some difficult discussions underway with relations to the technical aspects” of Pillar One in particular that are delaying the implementation of this “historic” global tax deal on multinationals, per Mathias Cormann, secretary-general of the OECD.

    “We deliberately set a very ambitious timeline for implementation to keep the pressure on and we think that has helped keep the momentum going,” said Cormann in a statement. “But I suspect it is probably most likely that we will end up with a practical implementation from 2024 onwards.”

    All participating countries will need to approve the two-pillar global minimum tax agreement when it eventually gets finalized next year. In the U.S., bipartisan support will be required to approve President Biden’s backing of the agreement, but with the prospect of a full Republican-controlled (or partially controlled) House of Representatives come this November, it is unlikely that will happen, per the WSJ.

    Independently, neither the U.S. nor the EU have established minimum corporate tax legislation. Stateside, some of the particulars related to this global tax agreement are tied to the president’s halted Build Back Better legislation.

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    In Europe, Hungary has vetoed any implementation of the new tax. In response, the U.S. Treasury announced last week it is looking to discontinue its 40-year-old tax treaty with Hungary over its resistance to a global minimum tax, according to The Washington Post.

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    This article originally appeared on GOBankingRates.com: Last Year’s Global Minimum Tax Agreement Is Delayed Further

    Mon, 11 Jul 2022 06:07:00 -0500 en-US text/html https://finance.yahoo.com/news/last-global-minimum-tax-agreement-163851035.html
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