|By PR Newswire||
|November 9, 2012 07:09 PM EST||
- Revenue at $86.8 million, an increase of $2.5 million, +3.0%
- EBITDA1 $9.4 million, a decrease of $3.5 million, -27.0%
- Basic and diluted earnings per share of $0.1250
- Cash flows from operations at $6.0 million, an increase of $4.0 million, +200%
- Distributable Cash1 of $4.9 million; a decrease of $3.3 million, -40.2%
- Distributable Cash1 per share of $0.2252 vs declared of $0.2127. Payout ratio of 94.5%
- Backlog at equivalent level of work of approximately 9.3 months
TORONTO, Nov. 9, 2012 /CNW/ - IBI Group Inc. (the "Company") (TSX: IBG) today announced its financial results for the three and nine months ended September 30, 2012.
Revenue for the third quarter 2012 was approximately $3.0 million less than expectations. This was caused principally by the slowdown of the educational markets in the USA, particularly California, New York and the Pacific North West; the slowdown in the social infrastructure market in the UK; the suspension of a major toll project in Greece; and the decline in the level of activity in China. Additionally, the third quarter of 2012 had one working day less than the average quarter, representing approximately $1.4 million in revenue. Further compounding the lower revenue was greater vacation days typical of the third quarter compared to other quarters in the year.
The highlights of the third quarter ended September 30, 2012 are:
Revenue at $86.8 million, up $2.5 million compared to the third quarter
of 2011, down $1.7 million compared with the second quarter of 2012 and
down $0.1 million compared with the first quarter of 2012.
EBITDA1 of $9.4 million decreased $3.5 million from the third quarter of 2011,
decreased $2.6 million compared to the second quarter of 2012 and
decreased $2.0 million compared to the first quarter of 2012.
EBITDA1 as a percentage of revenue for the third quarter of 2012 was 10.8%, a
decrease of 4.5% when compared to the third quarter of 2011, a decrease
of 2.8% when compared to the second quarter of 2012 and a decrease of
2.3% when compared to the first quarter of 2012.
Basic and diluted earnings per share ("EPS") for the third quarter of
2012 was $0.1250, a decrease of 0.1105 (46.9%) compared with EPS1 of $0.2355 for the third quarter of 2011, a decrease of $0.1549 (55.3%)
compared with EPS of $0.2799 for the second quarter of 2012 and a
decrease of $0.0815 (39.5%) compared with the EPS of $0.2065 for the
first quarter of 2012.
Distributable cash1 of $4.9 million was down $3.3 million from the third quarter of 2011,
down $1.7 million when compared to the second quarter of 2012 and down
$1.4 million when compared to the first quarter of 2012. The payout
ratio1 for the third quarter of 2012 was 94.5%, an increase from 71.3% for the
third quarter of 2011, an increase from 88.6% for the second quarter of
2012 and an increase from 89.0% for the first quarter of 2012.
- Cash flows provided by operations for the three months ended September 30, 2012 were $6.0 million compared to cash flows from operations of $2.0 million for the three months ended September 30, 2011 for a net change of $4.0 million. The $6.0 million positive cash flow from operations is due to an improvement in $3.1 million working capital, primarily due to a significant decrease in accounts receivable in the quarter. The $6.0 million from operations exceeds the dividends paid of $4.6 million and purchase of property, plant and equipment of $0.5 million by $0.9 million in the quarter, representing excess cash generation.
(1) See "Definition of Non-IFRS Measures"
Intensive efforts were made in the third quarter of 2012 to enhance ongoing performance which is expected to be achieved in the fourth quarter of 2012. These efforts include:
Compensation costs were reduced in operating units that underperformed,
to better align costs to committed work. The full benefit of these will
be realized in the fourth quarter of 2012 with compensation costs
expected to be approximately $0.5 million less than the third quarter of 2012. This process is continuing in the
- Significant number of new projects and extensions of existing projects were committed that will result in work to be completed and revenue to be earned in the fourth quarter to be the highest to date.
As a result of the above efforts, EBITDA1 for the fourth quarter is expected to result in the Company's highest to date.
Efforts also focused on enhancing free cash flow1. Cash collected from operations exceeded cash used in operations including dividend payments. This was achieved by:
Enhanced collection of accounts receivable. Accounts receivable at the
end of the third quarter of 2012 decreased by $11.4 million compared the second quarter of 2012 in the 30-90 days
and greater than 90 days aging categories and increased by $4.0 million in current amounts outstanding.
- The introduction of the Dividend Reinvestment Program ("DRIP").
(2) The Company corrected an amount for its 2011 quarterly reporting related to non-cash imputed interest. See Note 13 of the unaudited interim condensed financial statements for the three and nine months ended September 30, 2012.
IBI reports the working capital tied up (accounts receivable, work in process and deferred revenue) in terms of gross billings per day. The current level of the working capital tied up measured in gross billings is 147 days at the end of the third quarter 2012. This was a decrease of the equivalent of 9 days from the peak of 156 days at the end of the second quarter 2010. The 147 days at the end of the third quarter of 2012 is equal to the second quarter of 2012. Productive efforts in collection resulted in a decrease in accounts receivable of the equivalent of five working days compared to the second quarter of 2012. Work in process increased by four days, which largely arises from an increase in numerous new projects with large subconsultant work such as the Tel Aviv Red Line Transit project. Deferred revenue decreased by the equivalent of one day. As was achieved in the third quarter of 2012, Management continues its commitment to strive to reduce the total working capital tied up and enhance free cash flow1.
The policy of IBI Group is to maintain the current level of the dividend based on the current level of revenue and earnings, as IBI Group did through the first, second and third quarter of 2012. IBI Group will continue to strive to reduce accounts receivable as was achieved in the third quarter of 2012 and to grow the firm so as to increase revenue and earnings leading to the gradual reduction of the payout ratio1.
On April 20, 2012 the Company issued 2,700,000 common shares on a bought deal basis at a price of $15.00 per Share to a syndicate of underwriters for gross proceeds of $40.5 million.
The Company used the net proceeds from the Offering for debt reduction and intends to use the proceeds for potential future acquisitions and general corporate purposes.
Concurrent with the Offering, the Company completed, on a non-brokered private placement basis, the issuance of 667,000 Shares at $15.00 per Share to the Management Partnership in full satisfaction of $10.0 million of indebtedness owed by the Company to the Management Partnership.
IBI Group continued in the third quarter of 2012 to expand its capability. Notable areas of expansion of capability include:
IBI Group is experiencing continued growth worldwide in the architecture
of social infrastructure; including health care, educational and
justice related facilities, which includes new projects
The application of IBI Group's capability in intelligent systems from
transportation and communications to other applications including
management of building systems, energy systems in water distribution
and other significant applications that have applicability to
metropolitan urban regions throughout the world, IBI Group continues to
receive new mandates in world markets including the major new project
for traffic management in South Africa, and a major toll project in
The growth in major transportation projects in which IBI Group has been
mandated with a lead role. A notable example is IBI Group being
selected, after a rigorous international bidding process, as the prime
contractor for the design contract by NTA - Metropolitan Mass Transit
System Ltd. for the ten underground transit stations in the Tel Aviv
metropolitan area; and the IBI scope is extending as contract
negotiations are advanced for the continuation of the work over the
The growth in the private sector work in real estate and industrial
developments, which continues to be strong in major Canadian urban
areas, is now starting to increase in the US in automotive/industrial
and real estate; and
- The overall growth in the resources and capability of the firm. IBI Group has grown in the number of people reflecting the growth in revenue and now comprises 2,926 members of the firm, compared to 2,843 as at September 30, 2011. The 2,926 members is down from the June level of 3,050, when including members from Taylor Young, representing a decrease of 124 members. With this growth in personnel and professional excellence, IBI Group increasingly is awarded leading professional and managerial roles for proponents and owners of development projects. The progress of the firm in extending the excellence of its professional capability and the breadth and depth of resources provides an increasingly effective platform for IBI Group as a significant participant in the design of physical aspects of urbanization throughout the world with IBI Group's global experience, complemented by IBI Group's established physical and operating presence in local communities.
(1) See "Definition of Non-IFRS Measures"
The scope of these efforts is validation of IBI Group's integrated operating model of providing comprehensive professional services to clients in Canada, the US and in international markets.
Strategic Program of Growth
On August 3, 2012, IBI closed the acquisition of the practice of Taylor Young Limited Architects and Master Planners ("Taylor Young") within the IBI Group of Firms. Taylor Young is a full services architectural practice including professional skills in urban planning and design and landscape architecture, based in Manchester, UK with offices in Liverpool and London. The firm has a strong reputation in the design of facilities in healthcare, education, housing, as well as urban planning/design and landscape design for a broad range of clients. The firm is highly experienced in sustainability of design integrated with such facilities. This acquisition will further enhance IBI's professional strength in the UK market, particularly in the Midlands and the North, as well as contribute to the growing strength of the global practice of the firm in health and education. Professional experience in urban planning and urban design, as well as landscape architecture and the architecture of housing in the UK will broaden the current areas of practice of the IBI capabilities in the UK. Taylor Young has a very broad range of clients in the public sector with over 70% of the business gained on a repeat basis with long established client relationships. The firm has approximately 100 staff members and is well managed with profitable operations and a strong backlog of committed work.
In the recent years IBI has achieved major strategic growth in the UK. IBI initiated operations in the UK in the early 1990's and established through organic growth1, a presence in intelligent systems applied to transportation and communications. This practice was involved recently in traffic control planning and management for the London Olympics. More recently, IBI acquired the firm of Nightingale, architects with an international reputation as a centre of excellence in the planning and design of hospitals and other health care facilities, and now more recently in the third quarter of 2012, the acquisition of Taylor Young.
The US continues to be the largest economy in the world and as such IBI will continue to focus on building our US business. IBI Group will continue to pursue existing areas of practise as well as an enhanced focus going forward on the architecture of health care facilities. In the context of the continuing under-performing economic environment in the US, there are outstanding opportunities for acquisition/strategic alliances with outstanding professional firms. The resources from these firms can also participate with IBI Group on work in Canada as well as other international markets as the economy of the US recovers.
The basic model of IBI is to initiate its presence through organic growth1 in geographic regions in which IBI believes it can effectively provide its professional services in the four broad areas of practice. Following that initial organic growth1 creating an initial core group, IBI then accelerates the growth through strategic acquisitions as has now been largely accomplished in Canada and the UK.
IBI will similarly consider acquisitions/alliances in other international markets including China, India, Eastern Europe, Brazil and Mexico. Similarly to Canada and the UK, the long-term growth in these emerging markets for IBI will be based on continuing organic growth1 on top of the expanded base achieved through strategic growth1. In longer term, that will place IBI in a sustainable model of generating additional net fee revenues, income and cash earned through continuing organic growth1 on a global platform and mitigate the requirement for significant amounts of additional capital for financing strategic growth1. In the third quarter of 2012 IBI Group succeeded in securing significant new projects in international markets.
(1) See "Definition of Non-IFRS Measures"
Committed fee volume for the target revenue for the fourth quarter 2012
is in hand, the ensuing 12 months represents in excess of 9 months
equivalent of work. (Based on the current pace of work that IBI Group
has achieved during the last twelve months ended September 30, 2012.)
Backlog for government and public institutional clients now represents
approximately 65% of total backlog. Backlog continues to be very strong
in building facility areas in health care, education, and housing, the
industrial sector, in transportation terminals, transportation networks
and intelligent systems. IBI Group is increasingly receiving new
mandates for a wide range of substantial projects in the design stage,
as well as some of these now moving into design development and working
drawings as projects proceed to sales;
- IBI Group's committed backlog is approximately 14% of fee volume for projects outside of North America and 24% for the United States and 62% in Canada which is generally consistent with the distribution of revenue earned in the current quarter; and
IBI Group is in various stages of negotiation with a number of firms who could add further strength to the IBI Group program in the US. Accordingly, the outlook for IBI Group for the fourth quarter of 2012 is encouraging.
Selected Consolidated Financial Information and Reconciliation of Non-IFRS Measures
in thousands of dollars except for per Share and per
Unit amounts and ratios
Earnings before income taxes, interest and
|Change in fair value of financial instruments and other finance costs1||17||356||117||479|
|Income taxes - current||512||1,503||2,649||4,703|
|Income taxes - deferred||(478)||(497)||(1,061)||1,733|
|Amortization of property and equipment and intangible assets||2,519||2,664||7,583||7,996|
|Foreign exchange loss||357||77||504||361|
|Earnings before non-controlling interest||$||2,704||$||4,242||$||12,116||$||8,490|
|Earnings attributable to owners of the company||$||2,074||$||3,057||$||9,073||$||6,119|
|One time non-cash tax on conversion to a corporation||-||-||-||3,131|
Proportion of earnings attributable to Class B
|Adjusted Net Earnings1||$||2,074||$||3,057||$||9,073||$||8,376|
|Basic and diluted adjusted net earnings per share2||$||0.1250||$||0.2354||$||0.5999||$||0.4722|
|Cash flow from (used in) operating activities||$||(818)||$||(17,437)||$||(10,940)||$||(14,312)|
|Less: Capital expenditures||(749)||(607)||(1,619)||(1,197)|
|Standardized Distributable Cash1||$||(1,567)||$||(18,044)||$||(12,559)||$||(15,509)|
|Change in non-cash operating working||7,277||23,372||22,988||24,589|
|Current income tax expense||1,047||1,548||2,137||3,200|
|Exchange (gain) loss||(142)||66||147||284|
Weighted average basic and diluted distributable cash
|Aggregate of dividends and Class B partnership distributions||$||6,608||$||5,817||$||18,112||$||16,540|
|Dividends and Class B partnership distributions issued under DRIP3||(2,010)||-||(2,010)||-|
|Net dividends and Class B partnership distributions||$||4,598||$||5,817||$||16,102||$||16,540|
|Aggregate of dividends and Class B partnership distributions per Share||$||0.2127||$||0.3229||$||0.7991||$||0.9195|
|(1)||See "Definition of Non-IFRS Measures".|
|(2)||Distributable cash per Share amounts are calculated by including both the common shares of the Company and the Class B partnership units in the denominator which is a non-IFRS measure.|
|(3)||The Company corrected an amount for its 2011 quarterly reporting related to non-cash imputed interest. See Note 13 of the unaudited interim condensed financial statements for the three and nine months ended September 30, 2012.|
Definition of Non-IFRS Measures
References in this MD&A to EBITDA are to earnings before interest, income taxes, depreciation and amortization, acquisition-related costs, foreign exchange gains and losses, fund distributions treated as an expense, fair value adjustment on financial liabilities and restructuring and special charges. Management of the Company believes that in addition to net earnings, EBITDA is a useful supplemental measure as it provides readers with an indication of cash available for dividend prior to debt service, capital expenditures and income taxes. Readers should be cautioned, however, that EBITDA should not be construed as an alternative to net earnings determined in accordance with IFRS as an indicator of the Company's performance or to cash flows from operating activities as a measure of liquidity and cash flows. EBITDA is not a recognized measure under IFRS and does not have a standardized meaning prescribed by IFRS, and the Company's method of calculating EBITDA may differ from the methods used by other similar entities. Accordingly, EBITDA may not be comparable to similar measures used by such entities. Reconciliations of net earnings to EBITDA have been provided under the headings "Selected Consolidated Financial Information" and "Summary of Quarterly Results".
The Company defines distributable cash as cash flow from operating activities before change in non-cash operating working capital, interest paid, income tax expense, acquisition-related costs, foreign exchange losses and after capital expenditures, foreign exchange gains, interest recovered, and income tax recovery, where applicable. Reconciliations of distributable cash to cash flow from operating activities have been provided under the headings "Distributable Cash" and "Summary of Quarterly Results". The Company's method of calculating distributable cash may differ from similar computations as reported by other similar entities and, accordingly, may not be comparable to distributable cash as reported by such entities. Management of the Company believes that distributable cash is a useful supplemental measure that may assist readers in assessing the return on an investment in Common Shares.
Payout ratio is defined by the Company as dividends declared plus Class B partnership distributions less shares issued under the DRIP in the period divided by distributable cash.
Free cash flow is defined by the Company as net cash provided by (used in) operating activities less purchases of property, plant and equipment in the period.
Strategic growth is defined by the Company as the additional revenue generated by new acquisitions in the period as compared to the prior period revenue.
Organic growth is defined by the Company as the additional revenue generated in the period, excluding any revenue generated by new acquisitions in the period, as compared to the prior period revenue.
Other operating costs (other than interest) is defined by the Company as the sum of rent, other operating expenses and impairment of financial assets.
Other finance costs is defined by the Company for the purposes of the MD&A as other finance costs as recorded in the consolidated financial statements of the Company less deferred transaction costs and change in the fair value of interest rate swap.
Acquisition-related costs are defined by the Company as legal, accounting and other fees incurred in the period relating to acquisitions.
Adjusted net earnings is equal to the earnings for the period plus a one time non-cash adjustment on conversion to a corporation for 2011.
Basic and diluted adjusted net earnings per share is equal to the adjusted net earnings for the period divided by the weighted average number of Class A shares outstanding during the period.
Standardized distributable cash is defined by the Company as net cash provided by (used in) operating activities less capital expenditures.
Investor Conference Call
The Company will hold a conference call on November 12, 2012 at 8:30 a.m. Eastern Standard Time (EST). To participate in the conference call, please dial in before 8:30 a.m. EST to 1-800-381-7839 for local and toll-free North American access, or 1-212-231-2900 for international access.
An audio replay of the call will be available for 14 days, by dialling 416-626-4100 for local and international access, or 1-800-558-5253 for toll-free North American access, passcode 21605867 followed by the number sign on your telephone keypad.
SOURCE IBI Group Inc.
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
Feb. 12, 2016 03:00 PM EST
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Feb. 12, 2016 02:15 PM EST Reads: 446
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Feb. 12, 2016 02:15 PM EST
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
Feb. 12, 2016 01:00 PM EST Reads: 224
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Avere delivers a more modern architectural approach to storage that doesn’t require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbuilding of data centers ...
Feb. 12, 2016 12:30 PM EST Reads: 104
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
Feb. 12, 2016 12:30 PM EST Reads: 259
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Feb. 12, 2016 11:45 AM EST Reads: 447
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
Feb. 12, 2016 11:15 AM EST Reads: 139
SYS-CON Events announced today that iDevices®, the preeminent brand in the connected home industry, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. iDevices, the preeminent brand in the connected home industry, has a growing line of HomeKit-enabled products available at the largest retailers worldwide. Through the “Designed with iDevices” co-development program and its custom-built IoT Cloud Infrastruc...
Feb. 12, 2016 10:00 AM EST Reads: 126
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
Feb. 12, 2016 09:30 AM EST Reads: 215
The Quantified Economy represents the total global addressable market (TAM) for IoT that, according to a recent IDC report, will grow to an unprecedented $1.3 trillion by 2019. With this the third wave of the Internet-global proliferation of connected devices, appliances and sensors is poised to take off in 2016. In his session at @ThingsExpo, David McLauchlan, CEO and co-founder of Buddy Platform, will discuss how the ability to access and analyze the massive volume of streaming data from mil...
Feb. 12, 2016 09:00 AM EST
WebSocket is effectively a persistent and fat pipe that is compatible with a standard web infrastructure; a "TCP for the Web." If you think of WebSocket in this light, there are other more hugely interesting applications of WebSocket than just simply sending data to a browser. In his session at 18th Cloud Expo, Frank Greco, Director of Technology for Kaazing Corporation, will compare other modern web connectivity methods such as HTTP/2, HTTP Streaming, Server-Sent Events and new W3C event APIs ...
Feb. 12, 2016 09:00 AM EST
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
Feb. 12, 2016 06:00 AM EST Reads: 253
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
Feb. 12, 2016 05:45 AM EST Reads: 460
Silver Spring Networks, Inc. (NYSE: SSNI) extended its Internet of Things technology platform with performance enhancements to Gen5 – its fifth generation critical infrastructure networking platform. Already delivering nearly 23 million devices on five continents as one of the leading networking providers in the market, Silver Spring announced it is doubling the maximum speed of its Gen5 network to up to 2.4 Mbps, increasing computational performance by 10x, supporting simultaneous mesh communic...
Feb. 12, 2016 05:00 AM EST
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
Feb. 12, 2016 02:30 AM EST Reads: 231
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Feb. 12, 2016 12:45 AM EST Reads: 411
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Feb. 12, 2016 12:00 AM EST Reads: 290
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
Feb. 11, 2016 10:00 PM EST Reads: 129
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
Feb. 11, 2016 03:45 PM EST Reads: 422