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A latest article in The Manufacturer revealed that a lack of digital maturity within UK businesses was having a detrimental effect on productivity. Tim Rutter, Managing Director and Paul Lewis, Operations Director at Universal Wolf , look a little more deeply at what the reasons for this might be and break down the steps businesses can take to move towards their smart factory targets.

Let’s start with an overview – how do you define a smart factory?

PL: A smart factory uses technology to create a streamlined, efficient and flexible manufacturing capability. Systems link processes from order intake through to assembly, inspection and delivery; creating visibility throughout the chain.

It’s clear that businesses of all sizes are struggling to adopt smart factory technology. Why do you think that is?

TR: Every business will have challenges on this kind of journey, though those challenges will be different depending on your size. For larger businesses, there’s the issue of sheer scale, though funding tends to be easier. For SMEs like Universal Wolf, you’re agile enough to move quickly on decisions, but funding does tend to be more of a challenge.

There are two main pillars which need to be addressed – processes, and people. The former relates to the decisions you make around the systems, software and operational requirements. The latter, to how you ensure your people are on board and come on this journey with you. Both processes and people need to work in harmony to successfully build a ‘smart factory’.

PL: Choosing the right systems and software and understanding how they will work together to benefit your business, streamline processes and increase productivity, is an important first step. The functionality has to be right for you because the ultimate goal of a smart factory is to Strengthen your operations, by providing your teams with the data needed to make informed decisions, instantly. These systems are there to facilitate your running a business successfully, not to dictate how you do it. You don’t want to find you have invested time and money into something that actually isn’t fit for purpose. If you can, talk to other businesses in a similar situation and take some learning from the decisions they have made.

TR: For manufacturers in particular, there’s a bridge you have to build between your IT team, who understand the software and systems that you currently have; and the Operations and Manufacturing teams, who understand the operational needs and drivers to successfully grow the business. IT and Operational technology will blend right across the business, from desktop to CNC machines and everything in between, so it is vital that these two teams work together and that there is real, cross-functional collaboration for the entirety of the project.

There is definitely an opportunity here for central and local government to provide more accessible and independent support to businesses who are making this kind of investment. That also extends to digital skills and training. It’s a big decision to make, and worries about going down the wrong route is one of the things that holds people back.


Universal-Wolf-The-Manufacturer


What is the best way to ensure that happens?

TR: Ideally, you’ll put a Project Lead in place who can sit between the two and whose job it is to identify what is needed, the value it will add, cost to implement, and how it will work. Important at this point too is to identify who is responsible for driving the project – will it be the Operations team, or the IT team? That decision might generate some animated discussion, but it’s really important to be clear about that upfront, as whoever is driving the project will be responsible for generating the business case and ensuring you have been through the decision-making stage before you move to adoption and implementation. At Universal Wolf, we decided that our Operations team would own the project, with input and support from IT.

PL: Getting people on board with what will be a significant change to the way you run your business is difficult. You need people at all levels to buy in. The system is only as good as the data that goes into it, you need everyone to be using it for it to be useful. That means full investment from the top down, too – for major smart factory adoption, it can actually be quite difficult to articulate a clear business case outcome. Rather, you are making a strategic, logical investment. The board of directors at Universal Wolf and our sister company Tharsus understand the importance of adopting smart factory tech and can see the future benefits it will bring for our business.

How do you ensure you are bringing people on the journey with you?

TR: Having got to the point of having a business case, understanding what you need and how it will be implemented, and what the impact will be – it’s imperative that you share that future vision with everyone. Be clear and visual in your approach – for example, a lot of people will be very comfortable with advanced technology in their personal lives, but perhaps more uncomfortable with using that technology in the workplace. Smart factory is essentially a version upgrade – presenting it in this way may help to bridge that gap.

PL: People need to understand what’s in it for them, and how it will make their lives easier. At Universal Wolf, we’ve seen great success in supporting apprentices and graduates to lead tech adoption projects across the business. They bring a level of ease and comfort – and indeed, expectation – in using these systems and are always willing to try new things. In a latest example, they have investigated and tested some software in collaboration with our Production team, who are now fully invested in adopting this particular technology and excited about the improvements it will bring.

What advice would you deliver to businesses who are looking to start this process?

PL: Firstly, start simple, and work up from there. Secondly, these things always take longer than you think they will. There will be curveballs and snags – so keep this in mind when you’re making your project plan!

TR: Make sure you have a realistic timeframe in place and are setting long-term goals rather than making ad-hoc decisions. Keep pushing right through implementation until new systems and software are fully bedded into your business. Finally, start with the end in mind, and keep referring back to your long-term plan whenever you hit those inevitable bumps in the road.


About the authors

Tim Rutter

Tim Rutter is Managing Director at Universal Wolf. Joining Universal Wolf from Hitachi Rail, Tim has worked in manufacturing leadership roles in Rail, Defence, Offshore and General Engineering sectors for over 15 years. A Chartered Mechanical Engineer, he has significant expertise in building & developing teams and digital transformation in manufacturing.

Paul Lewis

Paul Lewis is Operations Director at Universal Wolf. A qualified Mechanical Engineer, Paul has a background in lean manufacturing, having worked within Oil & Gas, Automotive and Construction. He leads Universal Wolf’s manufacturing teams in championing systems and processes for operational excellence.

Thu, 14 Jul 2022 01:55:00 -0500 en-GB text/html https://www.themanufacturer.com/articles/the-smart-factory-whats-holding-us-back-and-how-do-we-get-there/
Killexams : Cloud Storage Market Size, Share, Demand, Regional Analysis and Forecast 2021-2027

The MarketWatch News Department was not involved in the creation of this content.

Jul 19, 2022 (Alliance News via COMTEX) -- Astute Analytica recently published a new research report on the global Cloud Storage Market. The global market report includes extensive research on the global Cloud Storage Market, allowing the buyer to consider potential requirements and projections. After a thorough examination of the prowess of the global market, the restraints and drivers are put together.

The global Cloud Storage Market is projected to grow from USD 50.1 billion in 2020 to USD 137.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21% during the forecast period.

The study incorporates both qualitative and quantitative data and draws on both primary and secondary statistical sources. Significant companies, important market categories, and a range of products are included in the global market report. In addition, the report covers the measurement years and the study points.

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The need for achieving scalability and flexibility while significantly reducing data storage infrastructure costs to drive the growth of cloud storage market

The cloud storage market is expected to grow at a fast pace, owing to the growing data volumes across enterprises, rising need for providing the remote workforce with ubiquitous access to data and files, and cost-saving and low Total Cost of Ownership (TCO) benefits of cloud storage solutions.

Solutions segment to hold a larger market size in 2020

The solutions segment is projected to contribute majorly to the market, while the services segment is projected to witness a higher growth rate during the forecast period. This growth these segments are supported by the rising transition of enterprises from hardware based storage to cloud environments for 24X7 access, cost efficiency, and scalability along with the rising demand for data backup and disaster recovery solutions.

By vertical, Banking, Financial Services, and Insurance (BFSI) industry to register the largest market size during the forecast period

The BFSI vertical is expected to hold the largest market size in the cloud storage market. With rising volumes of data across the BFSI vertical, the need to Strengthen the operational efficiency, productivity, and security while efficiently storing and managing the data has increased drastically. As a result, organizations are eager to implement scalable and flexible storage solutions.

The Middle East & Africa (MEA) to register the highest growth rate during the forecast period

Springing businesses, increasing demand for low cost and flexible data storage options, and growing technology assimilation combined with growing focus of government agencies on digital transformation have allured many cloud storage providers to expand in MEA, with which the demand of cloud storage solutions is expected to rise in the region. The major countries to witness high growth rates in this region include Kingdom of Saudi Arabia (KSA), South Africa, and United Arab Emirates (UAE) among others.

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The market study covers the cloud storage market size across segments. It aims at estimating the market size and the growth potential of the market across segments by component, application, organization size, deployment type, vertical, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, latest developments, and key market strategies.

Major vendors offering cloud storage solutions are AWS (US), Google (US), Microsoft (US), IBM (US), Huawei (China), Alibaba Cloud (China), Oracle (US), Rackspace Technology (US), HPE (US), Dell Technologies (US), Dropbox (US), Box (US), Tencent Cloud (China), Fujitsu (Japan), VMware (US), NetApp (US), Hitachi Vantara (US), Scality (US), and Citrix (US).

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The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall cloud storage market and its sub-segments. The report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

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About Astute Analytica:

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They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.

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The MarketWatch News Department was not involved in the creation of this content.

Mon, 18 Jul 2022 20:17:00 -0500 en-US text/html https://www.marketwatch.com/press-release/cloud-storage-market-size-share-demand-regional-analysis-and-forecast-2021-2027-2022-07-19
Killexams : Battery Storage Market Size Worth $49.28 Billion by 2028 to Rise at a Stellar CAGR of 27.68% by 2028 | Exclusive Report by Brand Essence Research

The Battery Storage Market is valued at USD 6.98 Billion in 2021 and is expected to reach USD 49.28 Billion by 2028 with a CAGR of 27.68% over the forecast. 

Global Battery Storage Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- The fall in the cost of battery technology and the growing need for grid stability, and the flexibility of integrating renewable energy into the power market are some of the major factors driving the market growth.

Key Players for Global Battery Storage Market-

Some of the major players the global battery storage market report covers are ABB, LG Chem Ltd., Panasonic Corporation, Samsung SDI, BYD Company Limited, Contemporary Amperex Technology Co. Limited, Exide Technologies, General Electric, Enersys, Nissan, AES Energy Storage, Hoppecke Batteries Inc., Tesla, and others.

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Scope of Global Battery Storage Market Report:-

Battery energy storage systems are used in many power applications where they are used for their on- and off-grid flexibility. Some of the popular sectors that drive product development in the battery energy storage system market include frequency control, peak shaving, voltage control in renewable integration, and energy shifting. The increasing trend in the use of battery power storage devices for on- and off-grid transitions in the renewable sector is a major trend supporting the growth of the market. In latest years, a number of industry promoters have focused on reducing their dependence on renewables and accelerating the global adoption of renewable energy. They have expanded their partnerships with leading companies in solar energy production. As a result, given the cyclical nature of wind and solar energy, the role of battery energy storage systems is likely to become a variable. Wind and solar energy production have increased worldwide to meet green energy proposals. Increased use of wind and solar energy for commercial and residential applications has led to the installation of large battery energy storage systems.

The Covid-19 pandemic has disrupted the value chain of businesses, including the battery energy storage systems market. This has led to a new form of investment in robotics and digital channels. Businesses in industries are carefully evaluating current operational models to extract value from the globalized world. Thus, there is a new optimism to shift businesses to these models for profit in the post-epidemic world. The new normal is expected to maintain its relevance in the coming years. Global efforts by various industry stakeholders to adopt green energy have given impetus to development projects in the battery storage market.

Global Battery Storage Market Segmentation:-

The global battery storage market is segmented based on storage system, battery type, connection type, ownership, energy capacity, application, and geography. Based on storage systems, the market is segmented into front-of-the-meter and behind-the-meter. Based on battery type, the market is segmented into lithium-ion batteries, advanced lead-acid batteries, flow batteries, and others. Based on connection, the market is segmented into on-grid, off-grid. Based on energy capacity, the market is segmented into below 100 MWh, between 100 to 500 MWh, and above 500 MWh. Based on application, the market is segmented into residential, commercial, and utility.

By Storage System:

  • Front-of-the-meter
  • Behind-the-meter

By Battery Type:

  • Lithium-Ion Batteries
  • Advanced Lead-Acid Batteries
  • Flow Batteries
  • Others

By Connection Type:

By Ownership:

  • Customer-Owned
  • Third-Party Owned
  • Utility-Owned

By Energy Capacity:

  • Below 100 MWh
  • Between 100 to 500 MWh
  • Above 500 MWh

By Application:

  • Residential
  • Commercial
  • Utility

News- 

Finnish Utility Deployed 90MW Storage System with Hitachi ABB Power Grids

On June 24th, 2021; Finnish nuclear power company Teollisuuden Voima (TVO) selected Hitachi ABB Power Grids for the provision and installation of what is claimed to be one of Europe’s largest battery energy storage projects.

Atlas Renewable Energy Partnered with Hitachi Abb Power Grids to Integrate Battery Energy Storage Systems in Renewable Projects

On April 21st, 2021; Atlas Renewable Energy, a leading renewable energy company in the Americas, signed a Collaboration Agreement with Hitachi ABB Power Grids, to jointly develop and execute Battery Energy Storage Systems (BESS) at a utility scale level for Atlas’ renewable projects.

Global Battery Storage Market Dynamics-

Governments around the world are rapidly launching battery energy storage systems such as, In March 2022, the Indonesian government-owned utility and battery maker launched the 5MW Battery Energy Storage System (BESS) pilot project as it seeks to move away from diesel-generated energy. In September 2021, the Government of India announced plans to install about 14 GWh grid-scale battery storage systems at the world’s largest renewable energy park at Khawda in Gujarat, said Union Minister for Energy and New and Renewable Energy Raj Kumar Singh. In the Energyscape Conclave. And, in March 2017, ABB received an order for Denmark’s first urban energy storage system. The company agreed to supply DONG Energy with a two-megawatt (MW) battery energy storage system (BESS). In August 2015, General Electric announced plans to supply a 30-MW battery power storage system to Kochela Energy Storage Partners (CESP), which in February 2015, to develop one of the largest battery storage plants in the western US, Hitachi America, Ltd., Hitachi, Ltd., and Demansys Energy, Inc. Thus, in the last few years, the governments of many countries have become more inclined toward energy products. As a result, a number of government projects are being launched, which are boosting the battery storage market.

Turning to low carbon power generation to reduce greenhouse gas emissions IS also supplementing the market growth in various sectors. Residential, non-residential, and utility sectors have deployed numerous systems to collect and transfer energy generated using centralized solar energy and wind energy. Energy storage can be achieved through a variety of technologies, the most commonly used of which are solid-state batteries, flow batteries, thermal energy storage systems, and pumice hydro storage. Furthermore, growing initiatives by various organizations to set up new plants to install large-scale storage infrastructures with low carbon discharges are ALSO expected to add to the industry outlook. For instance; in March 2021, Pacific Green, a worldwide clean energy technology company, disclosed the launch of a special agreement with infrastructure project developer TUPA. The company is based in Kent, U.K. BESS has also acquired 100MW rights here and plans to complete the remaining 1,000MV by 2023.

However, ever-changing characteristics of the products may hinder the growth of the battery storage market. The constant change in features and the introduction of new product lines by the manufacturers of battery energy storage systems increases the possibility of internal replacement. Lithium-ion batteries are expected to face stiff competition from other types of batteries such as flow batteries, sodium-sulfur batteries, and sodium-ion batteries.

The market for global battery storage has grown exponentially in the last few years. This is due to the scale economy led by a growing number of projects. The same trend is expected to continue for the foreseeable future, with the continued decline in the cost of energy storage batteries helping further.

Global Battery Storage Market Regional Analysis-

On a geographic basis, North America is expected to dominate the global battery storage market The availability of favorable government policies, tax benefits for renewable deployments, and increasing investment by public and private companies are some of the key factors driving the expansion of the market in North America. For example; in September 2019, the Senate Energy and Natural Resources Committee introduced a revised draft of the Better Energy Storage Technology (BEST) Act, among other features, to facilitate research on long-term BESS units. This statement is a combination of various bills, including the extension of the Sustainable Energy Act of 2019, the promotion of the Grid Storage Act of 2019, and the reduction of the cost of energy storage in 2019 to provide a comprehensive plan and facilities for BESS. The Joint Long-Term Storage Act of 2019. Due to many such laws and the movement of players in the region, the market is gaining momentum.

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  • Show which emerging market opportunities to focus on
  • Increase your industry knowledge
  • Keep you up-to-date with crucial market developments
  • Allow you to develop informed growth strategies
  • Build your technical insight
  • Illustrate trends to exploit
  • Strengthen your analysis of competitors
  • Provide risk analysis, helping you avoid the pitfalls other companies could make
  • Ultimately, help you to maximize profitability for your company.

Our Market Research Solution Provides You Answer to Below Mentioned Question:

  • Which are the driving factors responsible for the growth of market?
  • Which are the roadblock factors of this market?
  • What are the new opportunities, by which market will grow in coming years?
  • What are the trends of this market?
  • Which are main factors responsible for new product launch?
  • How big is the global & regional market in terms of revenue, sales and production?
  • How far will the market grow in forecast period in terms of revenue, sales and production?
  • Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
  • How will each segment grow over the forecast period and how much revenue will these segments account for in 2028?
  • Which region has more opportunities?

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Killexams : U.S. Enterprises Committing to IoT With Long-Term Plans

U.S. Enterprises Committing to IoT With Long-Term Plans

Companies want both a future vision and short-term results, with goals for visibility, data analytics and security, ISG Provider Lens™ report says

U.S. enterprises investing in the Internet of Things (IoT) increasingly are starting out with long-term strategies instead of just discrete proofs of concept, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The 2022 ISG Provider Lens™ Internet of Things — Services and Solutions report for the U.S. finds a growing number of U.S. organizations want to develop a high-level view of their IoT future while achieving immediate, measurable benefits from the technology.

“Enterprise IoT plans are growing more ambitious,” said John Lytle, industrial manufacturing client lead for ISG in the Americas. “Companies are looking to optimize their operations, address security threats and extract insights from IoT data.”

Advances in AI and machine learning have expanded the possibilities of IoT analytics, ISG says. In its most basic form, IoT gives enterprises visibility into their operations by collecting data from sensors in machine tools, vehicles and other assets. That data can be used in real time to track objects, generate alerts or predict failures. Using analytics tools, managed services providers are now using the same data sources to derive higher-level business insights.

As in most IT fields today, both enterprises and service providers face a tight market for qualified professionals who can design, integrate and operate complex IoT systems, the report says. Providers and clients are opening delivery centers in Eastern Europe, Latin America and Asia Pacific to spread out the risk of attrition beyond established centers in India.

“Managed IoT services are most affected by the skills shortage,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Providers are responding with recruitment, training and intelligent automation.”

Enterprises are seeking plug-and-play interoperability among devices, software and networks so they can respond to future requirements and avoid vendor lock-in, but this remains a challenge, ISG says. To deliver maximum value, an enterprise’s IoT infrastructure often needs to be customized to work with specific telecom networks and hyperscale cloud platforms. Yet a lengthy integration process can cut into a project’s return on investment. Providers are continuing efforts to offer open platforms and smooth integration services.

The 2022 ISG Provider Lens™ Internet of Things — Services and Solutions report for the U.S. evaluates the capabilities of 33 providers across five quadrants: Strategy Consulting, Implementation and Integration, Managed Services, Mobile Asset Tracking and Management, and Data Management and AI on the Edge.

The report names Atos, Capgemini, Cognizant and HCL as Leaders in all five quadrants. It names HARMAN DTS and IBM as Leaders in four quadrants each and Accenture and Siemens as Leaders in three quadrants each. Verizon is named as a Leader in two quadrants, and Bosch, Infosys, LTTS, PwC, TCS and Wipro are named as Leaders in one quadrant each.

In addition, Hitachi Vantara is named as a Rising Star — a company with a “promising portfolio” and “high future potential” by ISG’s definition — in two quadrants. Cyient, eInfochips, HARMAN DTS, HPE, NTT and TCS are named as Rising Stars in one quadrant each.

Customized versions of the report are available from Cyient and PwC.

The 2022 ISG Provider Lens™ Internet of Things — Services and Solutions report for the U.S. is available to subscribers or for one-time purchase on this webpage.

About ISG Provider Lens™ Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

Press Contacts:

Will Thoretz, ISG
+1 203 517 3119
will.thoretz@isg-one.com

Julianna Sheridan, Matter Communications for ISG
+1 978-518-4520
isg@matternow.com

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Killexams : Cover Slipper Market :Industry Perspective, Analysis, By Service, Size, Share, Growth, Segment, Trends and Forecast 2028

Perfusion Radiology Market

Cover Slipper Market market research report lends a hand to business in every sphere of trade to take superior decisions, to tackle the toughest business questions and diminish the risk of failure. It also offers better market insights to them with which they can drive business into right direction. The report focuses on many aspects related to Healthcare industry and market. Some of the marketing strategies are new product launches, expansions, agreements, partnerships, joint ventures, and acquisitions. Every bit of market is touched in the report as businesses can achieve extreme benefits with the different segments covered in the finest XYZ market report.

Perfusion radiology market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to reach at an estimated value of 8198.28 USD million and grow at a CAGR of 6.67% in the above-mentioned forecast period. Rising prevalence of cardiovascular and respiratory diseases drives the perfusion radiology market.

Perfusion imaging is a type of non-invasive imaging test which shows how the blood flows through the organs or tissues. This test is used for the diagnosis of numerous chronic disorders. It also helps in identifying the nutritive blood supply to an element of tissue. They can generate both perfusion measurements and perfusion maps of the region of interest.

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Perfusion Radiology Market Scope and Market Size

Perfusion radiology market is segmented on the basis of modality, application, end-user and organ type. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.

On the basis of modality, the perfusion radiology market is segmented into computed tomography (CT Scan), magnetic resonance imaging (MRI) and nuclear medicine.

Based on application, the perfusion radiology market is segmented into cardiovascular imaging, ventilation imaging, brain imaging, and others.

Based on end-user, the perfusion radiology market is segmented into hospitals, diagnostic centers and others.

The perfusion radiology market is also segmented on the basis of role of organ type into heart, lung, kidney, liver and others.

Perfusion Radiology Market Country Level Analysis

Perfusion radiology market is analysed and market size insights and trends are provided by country, modality, application, end-user and organ type as referenced above.

The countries covered in the perfusion radiology market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the perfusion radiology market due to rising incidence of cardiovascular diseases, brain tumors, and tumor-related angiogenesis and increased healthcare expenditure in this region. Europe is the second largest region in terms of growth in perfusion radiology market due to rising healthcare spending and rise in neurological disorders. Asia-Pacific is the expected region in terms of growth in perfusion radiology market due to rising presence of rapidly developing economies of China, India, and South Korea in this region.

The country section of the perfusion radiology market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

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Healthcare Infrastructure growth Installed base and New Technology Penetration

Perfusion radiology market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for perfusion radiology market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the perfusion radiology market. The data is available for historic period 2010 to 2019.

Competitive Landscape and Perfusion Radiology Market Share Analysis

Perfusion radiology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to perfusion radiology market.

The major players covered in the perfusion radiology market report are Spectrum Health, RamSoft, Inc., InHealth Group, Radiology Reports online, Siemens Healthineers AG, Sonic Healthcare, RadNet, Inc., GENERAL ELECTRIC COMPANY, Alliance HealthCare Services, Koninklijke Philips N.V., Hologic Inc., Shimadzu Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., CANON MEDICAL SYSTEMS CORPORATION, Carl Zeiss Ag, FUJIFILM Corporation, Hitachi, Ltd., MEDNAX Services, Inc., Carestream Health, Teleradiology Solutions, UNILABS, ONRAD, Inc. among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.

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Killexams : Explainer-How would U.S. corporate abortion travel benefits work?

By Ahmed Aboulenein

WASHINGTON (Reuters) - Major companies including JPMorgan Chase & Co, Amazon.com Inc and Walt Disney Co have said they would pay travel costs for employees seeking abortions out-of-state after the U.S. Supreme Court overturned the landmark 1973 Roe v. Wade ruling that legalized the procedure nationwide.

Here is what you need to know about how corporate abortion-related travel policies might work:

HOW COULD THIS WORK FOR EMPLOYEES?

Large companies could offer travel benefits either as part of their health insurance plan or as a separate health benefit. Benefits experts say additional ways to offer reimbursement are still being developed.

In a health plan the benefits would likely be handled in the same way as other out-of-network health services. The employee would submit not just for the care but for travel and other expenses as allowed. They may have to cover some of the costs.

Employers may also make funds for abortion-related travel expenses available through a health plan that integrates a Health Reimbursement Arrangement, a tax-free fund employees can use for qualified medical expenses.

Both options may leave out the biggest users of abortion services, according to data from the Guttmacher Institute: low-income women. Some companies do not include all their hourly workers in their plans and are likely to deliver reimbursement for costs rather than pay upfront.

WHAT ABOUT PRIVACY?

If the benefit is part of a health plan, it would be protected under the Health Insurance Portability and Accountability Act or HIPAA, which requires insurers to keep an employee's health information confidential and secure.

While employers generally are not subject to HIPAA, when large corporations act as insurers and cover the cost of medical services, they must follow the law. They typically outsource benefit management to an additional outside company, which also is obligated to uphold HIPAA protections.

Inside a company, a firewall typically separates people who work on a health plan. Coworkers and supervisors should not have access to any health information, including the use of abortion travel benefits.

There are exceptions in HIPAA for law enforcement. A state that criminalizes abortion could request information related to these benefits on those grounds. It is unclear how that would interact with federal privacy laws. This potentially exposes employers to legal risks.

DO MANY COMPANIES ALREADY OFFER THIS? No. A Mercer survey of 708 employers conducted before the expected Supreme Court decision found that 14% of employers with over 20,000 employees said they either already provide or plan to provide abortion travel benefits. Another 25% said they were considering it, 46% said they were not, and 11% said they do not have employees in states where the benefits are necessary. WHAT ABOUT SMALLER EMPLOYERS?

The Mercer survey shows that the smaller the employer, the less likely they are to offer such coverage.

Among employers with over 500 employees, just 3% said they provide or plan to provide these benefits and 18% said they were considering it. Another 15% said they did not have employees in states that would need it.

Small employers rely on insurers such as CVS Health Corp's Aetna or UnitedHealth Group Inc's UnitedHealthcare to handle all aspects of their health plans including the medical costs.

This kind of insurance is subject to state financial laws and regulations, which would include restricting or banning abortion access.

Overall, there are 25 states that ban abortion coverage in their state's government subsidized health insurance offered under the Affordable Care Act, and 11 of them ban abortion coverage altogether, according to the Guttmacher Institute. Public employee insurance plans are banned from covering abortion in 22 states.

CVS said it would offer out-of-state abortion services to employers who request them. UnitedHealth said it was reviewing the Supreme Court decision.

(Reporting by Ahmed Aboulenein; Additional Reporting by Doyinsola Oladipo in New York and Manas Mishra in Bengaluru; Editing by Caroline Humer and Bill Berkrot)

Wed, 29 Jun 2022 23:17:00 -0500 en-US text/html https://www.yahoo.com/now/explainer-u-corporate-abortion-travel-111310261.html
Killexams : Regulators approve Georgia Power IRP and keep coal in the mix Killexams : Regulators approve Georgia Power IRP and keep coal in the mix Thu, 21 Jul 2022 20:01:00 -0500 Clarion Energy Content Directors en-US text/html https://www.power-eng.com/coal/regulators-approve-georgia-power-irp-and-keep-coal-in-the-mix/ Killexams : Cloud Storage Market Share, Growth Insights, Competitive Landscape, Revenue, latest Trends, SWOT Analysis, and Forecast 2021-2027

The MarketWatch News Department was not involved in the creation of this content.

Jul 28, 2022 (Alliance News via COMTEX) -- Astute Analytica recently published a new research report on the global Cloud Storage Market. The global market report includes extensive research on the global Cloud Storage Market, allowing the buyer to consider potential requirements and projections. After a thorough examination of the prowess of the global market, the restraints and drivers are put together.

The global Cloud Storage Market is projected to grow from USD 50.1 billion in 2020 to USD 137.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21% during the forecast period.

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The need for achieving scalability and flexibility while significantly reducing data storage infrastructure costs to drive the growth of cloud storage market

The cloud storage market is expected to grow at a fast pace, owing to the growing data volumes across enterprises, rising need for providing the remote workforce with ubiquitous access to data and files, and cost-saving and low Total Cost of Ownership (TCO) benefits of cloud storage solutions.

Solutions segment to hold a larger market size in 2020

The solutions segment is projected to contribute majorly to the market, while the services segment is projected to witness a higher growth rate during the forecast period. This growth these segments are supported by the rising transition of enterprises from hardware based storage to cloud environments for 24X7 access, cost efficiency, and scalability along with the rising demand for data backup and disaster recovery solutions.

By vertical, Banking, Financial Services, and Insurance (BFSI) industry to register the largest market size during the forecast period

The BFSI vertical is expected to hold the largest market size in the cloud storage market. With rising volumes of data across the BFSI vertical, the need to Strengthen the operational efficiency, productivity, and security while efficiently storing and managing the data has increased drastically. As a result, organizations are eager to implement scalable and flexible storage solutions.

Middle East & Africa (MEA) to register the highest growth rate during the forecast period

Springing businesses, increasing demand for low cost and flexible data storage options, and growing technology assimilation combined with growing focus of government agencies on digital transformation have allured many cloud storage providers to expand in MEA, with which the demand of cloud storage solutions is expected to rise in the region. The major countries to witness high growth rates in this region include Kingdom of Saudi Arabia (KSA), South Africa, and United Arab Emirates (UAE) among others.

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Major vendors offering cloud storage solutions are AWS (US), Google (US), Microsoft (US), IBM (US), Huawei (China), Alibaba Cloud (China), Oracle (US), Rackspace Technology (US), HPE (US), Dell Technologies (US), Dropbox (US), Box (US), Tencent Cloud (China), Fujitsu (Japan), VMware (US), NetApp (US), Hitachi Vantara (US), Scality (US), and Citrix (US).

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COMTEX_411136740/2796/2022-07-28T01:16:13

The MarketWatch News Department was not involved in the creation of this content.

Wed, 27 Jul 2022 13:16:00 -0500 en-US text/html https://www.marketwatch.com/press-release/cloud-storage-market-share-growth-insights-competitive-landscape-revenue-recent-trends-swot-analysis-and-forecast-2021-2027-2022-07-28
Killexams : DHI Group, Inc. (DHX) CEO Art Zeile on Q2 2022 Results - Earnings Call Transcript

DHI Group, Inc. (NYSE:DHX) Q2 2022 Earnings Conference Call August 3, 2022 5:00 PM ET

Company Participants

Todd Kehrli - MKR Investor Relations

Art Zeile - Chief Executive Officer

Kevin Bostick - Chief Financial Officer

Conference Call Participants

Zach Cummins - B. Riley Securities

Max Michaelis - Lake Street Capital Markets

Anja Soderstrom - Sidoti & Co., LLC

Kevin Liu - K. Liu & Company LLC

Operator

Good afternoon, and welcome to DHI Group Inc. Second Quarter 2022 Financial Results. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Todd Kehrli of MKR Investor Relations. Please go ahead.

Todd Kehrli

Thank you, operator. Good afternoon, and welcome to DHI Group's fiscal 2022 second quarter earnings conference call. With me on today's call are DHI's CEO, Art Zeile; and Chief Financial Officer, Kevin Bostick.

Before I turn the call over to Art, I'd like to cover a few quick items. This afternoon, DHI issued a press release announcing its fiscal 2022 second quarter financial results. The release is available on the company's website at dhigroupinc.com. This call is being broadcast live over the Internet for all interested parties, and the webcast will be archived on the Investor Relations page of the company's website.

I want to remind everyone that during today's call, management will make forward-looking statements that involve risks and uncertainties. Please note that except for the historical information, statements on today's call may constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. When used, the words anticipate, believe, expect, intend, future and other similar expressions identify forward-looking statements.

These forward-looking statements reflect DHI management's current views concerning future events and financial performance, and are subject to risks and uncertainties, and real results may differ materially from the outcomes contained in any forward-looking statements. Factors that could cause these forward-looking statements to differ from real results include delays in development, marketing or sales, the adverse impact and uncertainty surrounding the COVID-19 pandemic and other risks and uncertainties discussed in the company's periodic reports on Form 10-K and 10-Q and other filings with the Securities and Exchange Commission. DHI undertakes no obligation to update or revise any forward-looking statements.

Lastly, during today's call, management will be referring to specific financial measures, including adjusted EBITDA, adjusted EBITDA margin and adjusted earnings per share which are not prepared in accordance with U.S. GAAP. Information about and reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are available in our earnings release and on our website at dhigroupinc.com in the Investor Relations section.

I will now turn the call over to Art Zeile, CEO of DHI Group.

Art Zeile

Thank you, Todd. Good afternoon, everyone, and welcome to our fiscal 2022 second quarter earnings conference call. Thank you for joining us today. We are pleased to report another quarter of strong financial results with total bookings growth of 27% year-over-year and total revenue growth of 29% as more employers are using our subscription-based offering. While doing this, we maintain an adjusted EBITDA margin of 21% for the quarter, making us once again a rule of 40 plus company.

With the significant supply/demand gap created by the increasing demand for technologists, more employers need access to our growing community of tech campus and our sophisticated tool set to find, attract, engage and hire the highest quality tech professionals.

During the second quarter, U.S. employers posted over 1.6 million IT jobs, up 60% year-over-year and 38% from the first quarter according to Information Technology Trade Group, CompTIA, and even in this difficult macro environment, this growing demand for technologists showed no signs of slowing down as U.S. employers posted over 500,000 Open Tech jobs in June alone, up more than 62% year-over-year.

At the same time, the unemployment rate for a technologist is near an all-time low of 1.8%, and there are only about 90,000 new computer science graduates entering the workforce each year. With demand for technologists significantly outstripping supply, employers, especially ones that are not specifically tech companies, but have digital initiatives need our subscription-based offering to find and attract the right tech candidates.

For those of you that are new to our story, Dice and ClearanceJobs are our two subscription-based offerings. They are both tech-focused career marketplaces that attract the highest quality tech professionals and enable employers to find and engage these skilled candidates as they look to fill the millions of new technology jobs flowing into the U.S. economy.

Dice has over 5 million technologist members while ClearanceJobs has 1.4 million, and we continue to grow the number of candidates each quarter. Both sites use our proprietary skills mapping technology that was recently granted a patent by the U.S. Patent and Trademark Office. Our skills mapping algorithms allow our subscribers to find and engage the best tech candidates for their open positions and provides a substantial competitive advantage for both Dice and CJ.

Unlike generalist career sites, our marketplaces are solely focused on serving the technology sector where candidates are measured by the technology skills they have acquired over their career and not job titles. With our leading career marketplaces for finding engaging technologists DHI is well-positioned to grow as we capitalize on the increasing demand for highly qualified tech professionals.

Now let me dig into both of our brands' performance during the quarter. Let's start with Dice, which addresses our largest market opportunity. Our bookings for Dice increased 27% year-over-year in the second quarter, and our revenue renewal rate remained strong at 99%. All of this resulted in our Dice revenue for the quarter increasing 30% year-over-year.

Dice has two opportunities for expansion as it directly serves the growing market demand for technologists. Dice commercial accounts is our largest white space opportunity with over 80,000 companies in the United States, meeting our ideal customer criteria.

These are companies across every industry vertical, including finance, health care, manufacturing and consulting. JetBlue Airlines, Boston Children's Hospital and Toyota are all new commercial accounts we signed this quarter that illustrate the breadth of interest in technologists across all sectors of our economy. With approximately 2,500 commercial account clients today, we are just scratching the surface on this large target market.

The staffing and recruiting industry is the second growth opportunity for Dice with over 18,000 staffing recruiting firms operating in the United States. Today, we service approximately 4,000 of them leaving us with a significant opportunity to expand in this client segment as well.

Combined, we believe that these two client segments have a total addressable market value of over $1 billion annually. To capitalize on these two large growth opportunities, we continue to add incremental new sales professionals during the second quarter.

We also continue to increase our marketing spend to generate more qualified leads to fuel our expanding new business teams. The new business teams were successful in converting these leads into new clients during the quarter. And as a result, our Dice customer base grew sequentially for the sixth consecutive quarter, adding 137 net new clients.

In addition to successfully driving new bookings through our improved sales and marketing efforts, we are expanding our technologist community through our Dice brand advertising campaigns. We have seen a 50% improvement in traffic and candidate registrations from our first campaign launched in September. And at the end of the second quarter, we launched Version 2.0 of these campaigns.

With these brand awareness campaigns, we are seeing improved reach and engagement metrics on Dice, adding approximately 40,000 new Dice members each month to our community. Adding tech professionals to our marketplaces attracts more and more clients, which in turn makes our platforms more valuable to tech professionals, completing a virtuous cycle.

Now let's talk about ClearanceJobs. Our bookings for CJ increased 27% year-over-year in the second quarter, and our revenue renewal rate remained strong, coming in at 99%. All of this resulted in our CJ revenue for the quarter increasing 26% year-over-year.

CJ celebrated its 20th anniversary on July 7 and continue to reach record new candidate registrations, record candidate profiles, record posted jobs and record messages sent on the platform during the quarter.

Similar to Dice, we also have two growth opportunities for CJ. The first is the government contractor market, where we currently have approximately 1,900 contractor clients. But know that there are over 10,000 cleared employers that can use our services.

CJ's second growth opportunity is selling its subscription offering directly to the multitude of U.S. government agencies that are in need of highly qualified technologists and are competing against the private sector for these candidates. We continue to advance our relationships with both government contractors and U.S. government agencies adding several new clients during the quarter, including Pacific Northwest National Laboratory, Palantir Technologies and Virginia Tech.

CJ sales and marketing teams continue to further penetrate these two market opportunities during the quarter, adding 48 net new clients. As we look ahead, we continue to execute on our growth plan by increasing our investment in our proving sales and marketing engine to capitalize on the increasing demand for tech professionals. We have large addressable markets for both Dice and ClearanceJobs.

And as I said before, we are just scratching the surface of our outreach to the tens of thousands of prospective clients for each. We will continue to increase our sales team capacity this year as we work to further penetrate these significant target markets.

Despite current macroeconomic concerns, the demand for technologists continues to reach record levels. As such, we remain confident in our ability to sustain double-digit bookings and revenue growth rates and reconfirm the delivering a rule of 40 plus performance for the remainder of this year and into the future.

On that note, let me turn the call over to Kevin, who will take you through our financials and increased guidance for the year, and then we'll take any questions you may have. Kevin?

Kevin Bostick

Thank you, Art, and good afternoon, everyone. Let me go into a bit more detail on our second quarter financial results. We reported total revenue of $37.1 million, which was up 8% sequentially and 29% year-over-year. Total bookings for the quarter were $35.3 million, up 27% year-over-year.

Dice revenue was $26.8 million, up 9% sequentially and 30% year-over-year. Dice bookings were $25.6 million, up 27% year-over-year. We ended the quarter with 6,386 Dice recruitment package customers, which is up 17% year-over-year. Our average annual revenue per Dice recruitment package customer was up both sequentially and year-over-year to $14,304.

Approximately 90% of Dice is recurring and comes from annual or multiyear contracts. Our Dice revenue renewal rate remained strong during the quarter at 99%, down 4 percentage points from last quarter and up 10 percentage points from last year. Our Dice customer count renewal rate was 85%, down 1 percentage point from last quarter and up 4 percentage points from last year.

Our Dice retention rate was 109%. These metrics continue to demonstrate the strength of the tech job market and the value of the Dice products in the recruiting of technology professionals.

ClearanceJobs revenue was $10.2 million, up 6% sequentially and 26% year-over-year. Bookings for CJ were $9.7 million, up 27% year-over-year. We ended the second quarter with 1,976 CJ recruitment package customers, which is up 11% year-over-year. Our average annual revenue per CJ recruitment package customer was up 2% over last quarter, and up 12% year-over-year to $18,708. Similar to Dice, approximately 90% of CJ revenue is recurring and comes from annual contracts.

Our CJ revenue renewal rate was 99% for the second quarter, down 5 percentage points from last quarter and up 2 percentage points over last year. Our CJ customer count renewal rate was 84%, down 3 percentage points from last quarter and flat year-over-year. Our CJ retention rate was 113%. These strong renewal rates demonstrate the continued value CJ delivers in the recruitment of cleared professionals.

Turning to operating expenses. Second quarter operating expenses were $36.2 million compared to $28.2 million in the year ago quarter. We are continuing to grow our sales team and are increasing our third-party marketing spend to drive increases in the marketing qualified leads to support the additional salespeople.

Also, we continue to invest in our broader brand awareness campaigns to drive technologist growth on our platform. The company realized an income tax benefit for the quarter of $162,000 on income before taxes of $1.3 million. Our rate for the quarter differed from our normal expected rate of 25% due to tax benefits from the vesting of share-based compensation awards, R&D tax credits and the use of a capital loss carryforward to offset a gain on an investment.

We recorded income from continuing operations for the second quarter of $1.5 million or $0.03 per diluted share compared to a loss from continuing operations of $0.2 million or approximately $0.00 per diluted share a year ago.

Adjusted diluted earnings per share for the current quarter was $0.01 compared to $0.02 for the prior year quarter. Diluted shares outstanding for the current quarter were $47 million compared to $47.2 million in the prior year quarter.

Adjusted EBITDA for the second quarter was $7.8 million, a margin of 21% compared to $7.1 million and a margin of 25% in the second quarter a year ago. We generated $10.2 million of operating cash flow in the second quarter compared to $12.9 million in the prior year quarter. From a liquidity perspective, at the end of the quarter, we had $3.6 million in cash and total debt outstanding of $30 million under our revolver.

During the quarter, we amended our credit agreement, increasing the size of our revolver from $90 million to $100 million with an accordion feature for an additional $50 million. The facility previously due to expire in 2023 and now has a maturity date of June 2027. The pricing structure of the new facility is materially unchanged from the previous credit facility, though it is now a SOFR-based pricing grid.

Deferred revenue at the end of the quarter was $54.1 million, up 25% from the second quarter of last year. Our total committed contract backlog at the end of the quarter was $104.1 million, which was up 39% from the end of the second quarter last year. Short-term backlog was $86.2 million at the end of the second quarter, an increase of $21.6 million or 34% year-over-year. Long-term backlog that is revenue to be recognized in 13 or more months was $17.9 million at the end of the quarter, an increase of $7.4 million or 78% from the prior year.

During the quarter, under our share repurchase program, we purchased approximately 625,000 shares for $3.7 million, an average price of $5.94 per share. As a reminder, our current share buyback program includes a $15 million authorization through February of 2023. $9.4 million was available under the program at the end of the quarter.

Looking forward, based on our strong bookings performance, we expect third quarter revenue to be in the range of $37 million to $38 million, a growth rate of 20% to 23% year-over-year. For the full year 2022, we are increasing our expected total revenue range to $145 million to $147 million, a growth rate of between 21% and 23% over 2021.

From a profitability perspective, we will continue to operate the business to adjusted EBITDA margins at or near 20% throughout 2022 as we balance our strong financial performance with increased sales and marketing investment to drive continued long-term revenue growth.

We are excited by the continued positive momentum we are seeing in bookings and believe our investment in sales and marketing will drive strong, sustainable double-digit bookings and revenue growth rates going forward.

And with that, let me turn the call back to Art.

Art Zeile

Thank you, Kevin. I'd like to close by once again thanking all of our employees for their hard work this quarter. For determination and dedication to executing our growth plan is certainly paying off. It is a pleasure to be part of such a great team.

And with that, we're happy to take your questions.

Question-and-Answer Session

Operator

[Operator Instructions] Our first question will come from Zach Cummins with B. Riley Securities. You may now go ahead.

Zach Cummins

Yes. Hi, good afternoon, Art and Kevin. Thanks for taking my questions and congrats on a strong quarter.

Art Zeile

Yes, we will appreciate that, Zach.

Zach Cummins

Yes, yes, absolutely. And I know through the month of June, you really haven't seen any slowdown in demand across the technology sector. But just given all the headlines that we've seen across all these tech companies regarding layoffs or slowdowns in hiring. Have you started to see any of that filter through to some of your customers? Or what's kind of the overall feedback you received here now just a month into Q3?

Art Zeile

So the good news is that we do not have Robin Hood as a customer. I say that jokingly. Actually, we have not seen any change in bookings performance 1 month in, meaning for the month of July. And very importantly, I think it's notable that we as a company, have less than 1% of our revenue tied to what I consider venture backed or early stage businesses. And even if you look at those businesses that have announced layoffs, I think the number is cumulatively in the tech sector, about 30,000 people have been laid off year-to-date.

And as I announced inside of my description of the current state of the business, there were over 500,000 openings in June alone. So these layoffs are certainly being magnified by the media, but they are not really resulting in a change in people's attitude towards hiring tech labor. And we still see a huge supply-demand deficit that is playing out in the market today.

Zach Cummins

Understood. That's helpful. And can you talk about more of your investments in both brand awareness campaigns and also on the lead generation side. It seems like it's been going pretty well thus far. So just any more insight into your plans for potential spending here in Q3 or the back half of the year?

Art Zeile

Yes. Great questions, and we will continue to actually increase our spend associated with marketing qualified lead production as well as these brand awareness campaigns. As I mentioned, the second version of these brand awareness campaigns just literally rolled out at the end of June. So we're assessing their performance, generally speaking, we put these particular advertisements, whether they're static images or their videos on a multitude of channels and we gauge receptivity the real click-through rate. And so we're studying that now to kind of make sure that we have a plan of attack for the second half of the year, but we fully intend to increase our marketing spend in the second half of 2022.

Zach Cummins

Understood. And final question for me is more so around capital allocation. I know you've been prioritizing share buybacks here in the first half of the year. So can you just deliver us a sense of how you're thinking about spending your excess cash flow here in the back half?

Kevin Bostick

Yes. I don't think -- Zach, this is Kevin. I don't think our philosophy has changed. We will continue to evaluate investment in CapEx and investment in -- or buying back our shares really as the two opportunities for uses of cash. As you know, we did make an investment in the news in Q3 of last year. So we will continue to look at opportunities that could accelerate parts of our business. But I would say our capital allocation philosophy has not changed, over the last couple of quarters, and we don't anticipate that changing for the balance of this year.

Zach Cummins

Understood. Well, thanks for taking my questions, and good luck with the upcoming quarter.

Art Zeile

We will appreciate that, Zach.

Zach Cummins

Thank you.

Art Zeile

Thank you.

Operator

Our next question will come from Max Michaelis with Lake Street. You may now go ahead.

Max Michaelis

Hey, guys. Great quarter.

Art Zeile

Hi, Max.

Max Michaelis

My -- one of my questions here is just on the guide. So if we just -- if I just make it easy here, we go to Q3, you guided for $37 million to $38 million. So we take the midpoint on that at $37.5 million, and then take the midpoint on your full year guide of $146 million. It's kind of modeling out for Q3, Q4 revenue to be essentially flat. Can you kind of go into what's maybe slowing down or if there's any room for upside on that guide?

Kevin Bostick

Well, I would say we look at the opportunity ahead of us, and we try to have a balanced view of what are some of the upsides and what are some of the pressures. While 90% of our revenue is recurring and comes from annual subscription contracts, there is some revenue that is shorter term in nature that we're continuing to keep an eye on. But with that, I think that we still remain very encouraged by Q3 and Q4. We've done very well with bookings that on an amortized basis will flow into Q3 and Q4. But I think ultimately, our perspective is, let's have a balanced view as we enter into Q3 and Q4 with some of the headwinds that have been discussed.

Max Michaelis

Okay. Thank you, guys. And then just my second question here is on renewal rates. I know you mentioned that it dropped down around 4% from 104 last year -- or 103 last quarter to 99 this quarter. Are you expecting to remain stable throughout the year? Or are you expecting to jump back up maybe into the exceed a 100%?

Art Zeile

So ultimately, as we discussed this even last quarter, we thought that being over 100% was kind of an aberration and that best-in-class SaaS-based business model maintained revenue renewal rates in the 90s. And so that's what we intend to do from this point forward. But I also ask on to add any kind of insight you might have.

Kevin Bostick

No, I think it's hard to look at any individual quarter because there may be some unique anomalies. I think when we look at the trend overall, to Art's point, we think on a customer count basis, mid-80s, revenue renewal rate in total will be mid-90s, which then would show retention on those customers who are renewing of greater than 100%. So it will move up and down a couple of percentage points any quarter. But I don't think there's any difference in trend that we've seen relative to the last couple of quarters.

Max Michaelis

Okay. Thank you. And then just my last one, just going back to building out your sales force here. You mentioned that you did increase, I believe, the head count in the sales department. Can I get a number for that? And like what you guys expect to hire out throughout the rest of the year?

Art Zeile

So, in general, we're going to track to hire approximately 5 net new individuals each quarter. We overshot that goal in the first quarter of this year. We're approximately there in the second quarter. We intend to maintain that same hiring trend for the remainder of this year, meaning 5 in third quarter, 5 in the fourth quarter. We believe that -- by doing so, we're increasing our quarter capacity by approximately 20%, and that's a healthy place to be when you think about the nature of our business model and growing the business at 20% plus rates.

Max Michaelis

Okay. Thank you., guys. That’s it for me.

Art Zeile

Thank you [indiscernible] Max. Really appreciate it.

Operator

Our next question will come from Anja Soderstrom with Sidoti. You may now go ahead.

Anja Soderstrom

Yes, thank you for taking my question and congratulations on another great quarter. I have a follow-up to start on that renewal rate. What's driving the lumpiness in that?

Art Zeile

What's driving the renewal rate itself?

Anja Soderstrom

No sort of the lumpiness that you were over 100% last quarter and this quarter, you're 99% and what's driving that?

Art Zeile

I would say that, as I indicated in the last question that was asked by Max, that in Q1, we felt like having a revenue renewal rate above 100% was aberrational, what drove it was a one-time transactional non-subscription based activity that were sold into packages in the first quarter. And so we don't want to forecast that, that's going to happen forever. I think that there was a pent-up demand going into 2022 for technology hiring in general. And so people took on additional services and additional add-ons to their natural subscription contracts because they wanted to figure out new ways to get to the end result, which is those technology professionals coming on board.

Anja Soderstrom

Okay. Thank you. That was helpful. And then given how strong your business is and the demand, what kind of pricing power do you have and opportunities with price increases?

Art Zeile

That's a great question. I can tell you that we have studied pricing over the last year. We had the advantage of using an outside consultant for quite a period of time. We are in the midst of reformulating our rate card. We plan to essentially roll that very cautiously in the second half of this year, making sure that the pricing meets the needs of our intended client relationships. And so again, we think we do have pricing power to a certain degree because of the nature of the supply demand imbalance inside of the tech market. And the fact that we are a good tool for essentially delivering on the proposition of hiring tech professionals.

Anja Soderstrom

Okay. Thank you. And I understand with your rule of 40, you will sort of ramp up your marketing spend with a higher revenue. So what kind of conversion rate do you have and what kind of visibility do you have in how that being effectful and how we can sort of expect that to impact the revenue growth in the coming years?

Art Zeile

So we actually look at it as a matter of supporting the new business team. There is a calculation that we do every single quarter. For that matter, we do it every single month in which we determine how many closed one deals should come from marketing qualified leads. And so we ramp up that number each quarter according to the expansion of the new business team itself.

As I indicated in my answer to Max, we are increasing that team by five new sales reps each quarter. So if you think about it, we're trying to add marketing qualified leads to support those new five members, but we're also supporting the existing team. So it's an ever-growing budget. And we're seeing good conversion. We're not seeing any kind of change, I would say, substantially in the quality of the leads, the conversion of leads to close on deals.

Anja Soderstrom

Okay.

Kevin Bostick

And I will jump in with one additional comment on top of Art's, which is we spend a fair bit of time looking at the lifetime value of a customer over the customer acquisition cost, which is a common ratio used in the software and technology space. And our target is to be above 3.3:1. We are seeing that. It moves a little bit every month, every quarter based on kind of the lag between spending that dollar and when that lead comes to fruition and becomes a contract. But we do ensure that our marketing spend has the appropriate ROI attached to it. And in our industry, that LTV to CAC ratio is a common way of looking at it.

Anja Soderstrom

Okay. Thank you. That was all for me.

Art Zeile

Thank you, Anja.

Operator

Our next question will come from Kevin Liu with K. Liu & Company LLC. You may now go ahead.

Kevin Liu

Hi. Good afternoon, guys. I wanted to start with the kind of the Dice bookings outlook here. Certainly, you have a big opportunity in white space on the commercial side of things. We've seen the net new customer adds over 100 this quarter, was up over 200 the prior quarter. Just wondering, as you look at your pipeline today, should we expect bookings to be more driven by kind of the volume of customers adding? Or is there some -- or are you seeing kind of customer adds not being development metric, but more so kind of the size of the customers you're landing with?

Art Zeile

So we've actually increased the size of annual contract value associated with Dice and ClearanceJobs, every quarter over the last four quarters. That's a good news part of the story. However, I'd say that in the case of Dice, very specifically, we will see growth in bookings by creating new relationships. So you should see that customer count grow continuously over the course of time.

Kevin Liu

Got it. And then maybe just on the marketing spend, can you talk about kind of the efficiencies you're seeing on that spend, meaning on a per unit basis, whether it's per net new MQL or even new candidate to your platform? Are you seeing that metrical steady? Or are you actually seeing even more efficiency and you're getting better returns on that dollar?

Art Zeile

It's actually holding steady. I would say that our team has done an enormous wonderful job of driving down the cost per market and qualified lead over the last 2 years, but I think that we've hit kind of like the efficiency point, where it's just underneath $100 per market and qualified lead. And so we see that number bounce in the 90s, but there's no real substantial improvement that I can foresee in the future.

Kevin Liu

Understood. And then just lastly for me. In terms of kind of the 40,000 plus profiles you're adding each month, can you just talk a little bit about how that's manifesting and kind of better value for your customers and whether that creates that opportunity to increase pricing specifically, are you seeing kind of fill rates for some of the open positions on Dice move higher?

Art Zeile

Yes. There's just no question that adding additional members to our community makes the community more valuable to the clients. And the clients have a lot of different ways that they look at return on investment for the platform. But I'd say one of the most basic ones is the number of applies per position, and that grows as you grow the community. It is correlated. So you're absolutely right in your logic.

Kevin Liu

Got it. And then actually, just one last one on the expense side. The G&A expense line kind of jumped up a bit sequentially and year-over-year. Can you talk about if there was anything one-time or unusual in there, if that's kind of the appropriate run rate as we move forward?

Kevin Bostick

I would say in G&A, we kind of bounce around a little bit because we don't amortize expenses. But I would say that, that's a good run rate at least for the rest of the year as we think about our expenses. There may be a few one-time items in there, but there may be some one-times going forward as well. But I don't think it's -- it would be materially different than what you're seeing.

Kevin Liu

All right. Thank you for taking the questions and congrats on a strong quarter.

Art Zeile

Really appreciate it, Kevin.

Operator

This concludes our question-and-answer session. I would like to turn the conference back over to Art Zeile for any closing remarks.

Art Zeile

Thank you. And before I want -- before we actually wrap up, I want you to all know that DHI management will be hosting its second Annual Virtual Analyst and Investor Day on September 8. So we will be putting out a press release tomorrow with more details around when that's going to take place within the day. We hope that you could all join us as we provide a lot more detail on our growth plans for DHI. And thanks everyone for your interest in DHI Group, and have yourself a wonderful day.

Operator

The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.

Thu, 04 Aug 2022 15:44:00 -0500 en text/html https://seekingalpha.com/article/4530061-dhi-group-inc-dhx-ceo-art-zeile-on-q2-2022-results-earnings-call-transcript
Killexams : Movers And Shakers Of The Week [15 – 20 October]

More than 50,000 jobs in data science and machine learning are lying vacant due to shortage of qualified talent

Paytm Money has appointed former ED of CDSL to its Board of Directors

Two senior leads of Myntra and Jabong have decided to leave the organisation

We bring to you the latest edition of movers and shakers of the week in the Indian startup ecosystem.

In one of the biggest movers and shakers this week, Divyank Turakhia revealed that he would be stepping down as the CEO. Divyank shot to fame selling his bootstrapped company at $900 Mn valuation – one of the largest ad tech exits ever – and now, plans to put his energies towards his various global investment portfolios.

Also,  chief marketing officer of Myntra and head of Jabong Gunjan Soni, and Myntra’s chief strategy officer and head of categories Ananya Tripathi have decided to leave the organisation. Both Soni and Tripathi will continue working till the end of this year.

Further, Automation software company UiPath is focusing on captives to grow its market in India and has begun boosting its hiring to tap into demand. The company, valued at $3 Bn, is looking at raising its headcount to 1,200 by the end of 2019 with a mix of technology and business hires.

Overall, at present, more than 50,000 jobs in data science and machine learning are lying vacant due to shortage of qualified talent, says an industry report. Such is the situation that the market has twice the number of jobs as jobseekers, indicating an urgent need for professionals to upskill, said the study by online and hybrid education company Great Learning.

Let’s have a look at the other movers and shakers of the week!

Paytm Money Appoints Cyrus Khambata To Its Board of Directors

Paytm Money, the investment and wealth management focused wholly owned subsidiary of India’s payments leader Paytm announced the appointment of Cyrus Khambata, former Executive Director (ED) of Central Depository Services (India) Ltd (CDSL) to its Board of Directors.

Khambata, an industry veteran of capital markets has diverse experience spanning across four decades.  He played several key roles at CDSL that eventually led towards it becoming the leading depository in India. He was responsible for setting up multiple products and businesses which includes KYC Registration Agency (KRA), Insurance Repository and others.

Cyrus also served as the Managing Director of CDSL Ventures Limited (CVL) and CDSL Insurance Depository (CIRL) and completed his tenure as Group Advisor to CDSL and its subsidiaries.

Paytm Money aims to become a full-stack investment & wealth management services company. Its 150+ member team is led by the company’s Whole-time Director – Pravin Jadhav. Paytm Money is headquartered in and operates from Bengaluru.

Cloudera Appoints Vinod Ganesan As India Country Head

Cloudera, Inc., the modern platform for machine learning and analytics optimised for the cloud, has appointed Vinod Ganesan as Country Manager for India. Vinod will drive Cloudera’s growth in the region, expand its customer base and help organisations enhance the measurable benefits of big data through machine learning and analytics.

With over 20 years of experience in the IT industry, Vinod brings with him a strong track record of creating and leading high-performing teams to spur business growth, develop C-level strategies, establish strong partner ecosystem and drive employee engagement. Prior to joining Cloudera, Vinod was Head of BFSI vertical at Hitachi Data Systems. He has also worked with other leading technology companies such as Sun Microsystems, Veritas Technologies, Compaq HP, and Ontrack Solution Pvt. Ltd.

Vinod’s appointment comes shortly after Cloudera announced the appointment of Scott Aronson as Senior Vice President of Worldwide Sales and Services. Scott has more than 20 years of experience across organizations such as Medallia, VMware, Pivotal Software and Silicon Valley venture capital firm Greylock Partners.

BankBazaar Strengthens Its Advisory & leadership Team

BankBazaar, one of India’s leading financial products marketplace, has appointed ex – RBI Deputy Governor, S.S. Mundra, as an advisor to the company. According to BankBazaar, Mundra’s expertise will help in driving 100% Paperless and Presence-less finance in India.

Mundra, who has a banking career spanning over four decades, was heading the state-run Bank of Baroda before his superannuation and then had a three-year term as the Deputy Governor at RBI.

He will be working with BankBazaar as an advisor in its journey to bring access to the right financial products to all Indians.

BankBazaar has further extended its senior leadership team with the addition of Senthil Arumugam as Head of Customer Service. Based out of Chennai, Senthil would be leading BankBazaar’s Customer Service operations in Chennai and Bengaluru.

Senthil brings over 15 years of leadership experience in Supply Chain Management and Operations. Prior to BankBazaar, Senthil was part of US LBM Holdings, a leading building materials distributor in the US. According to BankBazaar, his functional knowledge from multiple industries of varying sizes makes him the ideal choice to develop and implement processes to scale up Customer Service operations.

This appointment comes on the back of an earlier announcement where the company stated its plan to hire over 800 employees in FY19. At the close of Q2, BankBazaar has already crossed the half-way mark and is continuing to hire aggressively.

WittyFeed’s Parent Company Appoints Chief Product and Strategy Officer

Vatsana Technologies, the parent company of WittyFeed) has appointed Harsh Mani Tripathi as Chief Product and Strategy Officer to strengthen and accelerate product development and business-wide strategy implementation. Harsh is also a serial entrepreneur and an angel investor.

Harsh started his entrepreneurial journey back in 2010 as the Co-founder of Vilikh technologies Pvt. Ltd. Vilikh Technologies operated in the fields of Robotics and embedded systems.  His last venture, Delhi-based SaaS platform Pyoopil Education Technologies, was acquired by Ronnie Screwvala’s leading ed-tech company UpGrad. Post the acquisition, Harsh spent a good two years across various leadership positions at UpGrad, driving product verticals and leading multiple cross-functional teams.

On this new journey, Harsh’s focus will be on creating and leading company’s product offerings as well as business strategies, in the endeavour to evolve Vatsana Technologies’ from a new age media company to a media-tech industry leader.

His key responsibilities would include driving Vatsana’s product vision as well as cutting across the organisation through creation and implementation of business strategies for serving Vatsana’s Billion plus consumers globally. He would also ensure that the entire organisation is led by a unified and cohesive vision.

Harsh is an electrical and electronics engineer by training. He was also awarded the prestigious ‘Young India Fellowship’ by IFRE and the University of Pennsylvania.

Ezetap’s Sanjeeb Kalita Joins Innoviti As Chief Revenue Officer

An alumnus of INSEAD, France, Sanjeeb Kalita joins Innoviti as Chief Revenue Officer. He brings over 22 years of diverse experience of Sales & BD, Large Scale Operations Management and building businesses across sectors like FinTech, IT & Telecom.

Sanjeeb till recently was the Chief Revenue Officer at Ezetap where he led the company’s international expansion, built partnerships and alliances, and was responsible for sales and revenue. He was previously associated with Bharti Airtel as Vice President & Chief Service Officer.

His induction is in line with Innoviti’s aggressive plans for scaling up of its business operations post the latest fund raise of $18 Mn in a Series B funding round led by the Singapore-based SBI FMO Emerging Asia Financial Sector Fund (the ‘SBI-FMO Fund’ jointly setup by SBI Holdings Group of Japan and FMO of Netherlands), Bessemer Venture Partners and existing investor Catamaran.

Stay tuned for the next week edition of Movers and Shakers!

Fri, 19 Oct 2018 11:34:00 -0500 Meha Agarwal en text/html https://inc42.com/buzz/movers-and-shakers-150/
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