Artificial Intelligence
Novian advances with ambitious technology projects
The Novian IT infrastructure and software services group had aggregated revenue of EUR 9.9 million in the first half of this year, a decrease of 6.3% compared to the same period last year. The group’s aggregated EBITDA was EUR 0.6 million and fell 21%. The Novian group’s operating profit for the six-month period was EUR 0.32 million and decreased 23.5% compared to the first half of 2020, when it was EUR 0.41 million.
“This year Novian is distinguishing itself with ambitious projects in the technologies and software services business areas ranging from the installation and maintenance of hyperconverged IT infrastructure platforms at Lithuanian Railways’ main technology unit to the creation of a modern information system for public procurement. We welcome such multifaceted challenges that make us grow faster too, since implementing complex projects with modern and effective solutions is part of what Novian is all about,” says Evaldas Rėkus, the CEO of Novian.
He notes that the results for the first half of the year were impacted by uneven market demand and fluctuations in the value of the US dollar, and that currently the group’s companies have returned to their usual rhythm. “Financial performance was also influenced by work to increase the share of long-term managed services agreements, which give clients stability and clarity about IT service costs for several years in advance. While at this stage for us that means bigger investments to promote those services and a shifting of some revenue to future periods, having contracts for several years will ensure stable revenue of that type,” Evaldas Rėkus says. The corporate sector’s share of revenue has grown from 33% in 2019 to 44% in the first half of this year and the financial sector’s has risen from 17% to 23%, while the share of revenue from the public sector has shrunk from 44% to 28%.
“At the start of the year we continued to refine the group’s operating areas with a focus on integrated services and gave a lot of attention to the joint activities of the merged companies Novian Systems and Acena,” the CEO says. Considering the market’s needs for digitalization, he says, the Novian group offers relevant software, business analytics and process automation solutions as well as critical IT infrastructure managed services, and is implementing digitalization projects of diverse scale.
Novian is unique in the region in its ability to conduct large-scale digitization projects and adapt digitized material for further use. Currently Novian Technologies, together with the other Novian group companies Andmevara Services OU and Zissor, is implementing projects to digitize documents and upload them to relevant systems in Lithuania, Estonia and Moldova. The geography of the group’s activities in the first half of the year included over 30 countries. As in the first half of last year, the share of revenue earned aboard was 32%.
Novian Technologies completed important projects in Lithuania and Kyrgyzstan
Novian Technologies, the main Novian company working in the technologies area, had revenue of EUR 7.2 million in the first half of 2021, or 8.5% less than in the same period last year. The company’s operating profit was unchanged at EUR 0.48 million. Also operating in the group’s technologies area are Andmevara Services OU of Estonia and Andmevara SRL of Moldova.
“The first half of this year is notable for the number of large projects completed and new ones started. One of the most interesting is at Lithuanian Railways, where we will upgrade and maintain extremely critical hyperconverged IT infrastructure. We also see a growing need on the market for digitization services and many organizations that are keen to extend the lifetime of computer hardware. We are building significant international partnerships. And we have resumed travel and work for clients in Africa and other foreign countries – business processes are gradually returning to their earlier, pre-pandemic course,” Novian Technologies CEO Gytis Umantas says.
Worth noting among this year’s most important projects are the completed installation of a high-performance computing cluster at Vilnius University’s Faculty of Mathematics and Informatics, the completed first phase of a GovCloud installation project, and modernization of the Kyrgyz postal system. Together with Andmevara Services OU and Zissor, digitization of documents is underway at Vilniaus Vandenys and Vilniaus Šilumos Tinklai. Work to digitize tens of millions of pages for the National Archives of Estonia and the Cadastral Archive of Moldova is also ongoing.
Novian’s technologies area companies have earned the largest portion of their revenue this year from the corporate sector, at 50%, which is up from 36% in 2019. The share of their revenue from the financial sector has risen to 25% from 20%, while the public sector’s share of revenue has fallen to 21% from 39%.
Lithuania accounted for 69% of revenue in this business area, while in the first half of 2020 the level was 70%. Projects have been carried out in 32 countries this year. The technologies companies are focusing heavily on critical IT infrastructure, cloud computing, modern digital workspaces, and other technological solutions.
Novian Systems to modernize the central public procurement information system
Novian Systems, Novian’s main company in the software services area, had revenue of EUR 1.5 million in the first half of this year, or 3.6% less than in the same period last year. Its operating loss for the period, at EUR 70,000, was up from EUR 19,000 in the first half of 2020 (following the merger of Novian Systems and Acena at the end of 2020, operating results reflect their aggregated figures.). Andmevara AS of Estonia also operates in the Novian group’s software services area.
“We are pleased to be contributing to projects of such importance to Lithuania as the creation of the modern public procurement information system Saulė, for which we will use the latest solutions. We are also seeing increased demand for rapidly built solutions based on cutting-edge technologies,” says Paulius Vaitkevičius, the Head of Business Development at Novian Systems. He notes that the group’s companies in this area also offer data analytics, robotics, and artificial intelligence solutions.
The Novian companies working in the programming area have conducted projects in 8 countries this year. Of their revenue, 76% was earned in Lithuania, up from 72% in the first half of last year. While the public sector was the source of most revenue again this year, since 2019 its revenue share has fallen from 64% to 56%. The corporate sector’s share of revenue is little changed at 24%, while the financial sector’s share has grown from 4% to 16% and the academic sector’s share has decreased from 6% to 2%.
Projects of special note in the reporting period include development of the ESKIS Taxpayer Electronic Education, Consulting and Information Service as well as the implementation of automation solutions for a municipal waste collection system at Visagino Būstas and for handling milk collection waybills at the Pienas LT agricultural cooperative.
Zissor continued the digitization of publications
The Norwegian company Zissor, a provider of media monitoring software and digitization services, had revenue of EUR 484,000 in the first half of the year (65.2% more than in the first half of 2020), while its operating profit was EUR 102,000, or 7.8 times the amount in the same period last year. The company earned the largest part of its revenue, 44%, in the UK, with 18% in Sweden and 13% in Norway, and also conducted projects in Germany and elsewhere.
Noteworthy among Zissor’s projects is the digitization of the archives of the Norwegian newspaper Vesterålen, in which Zissor digitized the newspaper’s entire archive of 200,000 pages for the years 1921-2010. Additionally, in collaboration with Visiolink, work is underway to digitize German newspapers – the project involves converting PDF pages to articles and pictures and generating XML codes. Zissor is also digitizing the Danish newspaper Ingeniøren.
The Novian group’s companies operate in the Baltic countries, Norway and Moldova. The Novian group of businesses is owned by INVL Technology, a company that invests in IT businesses.
The person authorized to provide additional information:
Kazimieras Tonkūnas
INVL Technology Managing Partner
E-mail [email protected]
Attachment
Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.”
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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WESTFORD, Mass., April 25, 2024 /PRNewswire/ — The growing need for automation, technological developments, and long-term cost reductions are driving a robust expansion in the worldwide robotics market. SkyQuest projects that Global Robotics Market size is poised to grow from USD 41.50 Billion in 2023 to USD 126.96 Billion by 2031, at a CAGR of 15% during the forecast period (2024-2031).
Download a detailed overview:
https://www.skyquestt.com/report/robotics-market
Browse in-depth TOC on the “Robotics Market”
Pages – 202Tables – 64Figures – 75Robotics Market Overview:
Report Coverage
Details
Market Revenue in 2023
$41.50 billion
Estimated Value by 2031
$126.96 billion
Growth Rate
Poised to grow at a CAGR of 15%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Application, End Users, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Collaborative Robotics
Key Market Opportunities
Prompting Several Industries to Adopt Automation Technologies
Key Market Drivers
Increasing Demand for Automation
Surge of Automation is Supporting Growth of Robotics Industry
The industrial sector is generating high revenues for the global robotics market owing to extensive automation in manufacturing, which increases productivity and lowers overall production costs. Assembly line, painting, and welding robots have become essential, thereby propelling substantial market expansion in the automotive, electronics, and heavy duty sectors. Due to the increased usage of robots for non-manufacturing functions such as customer service, shipping, and healthcare, the services sector is expanding quickly. This rapid growth is being driven by technological improvements and the push for automation in services.
Surge in Advance Robotics is Bolstering Market Growth
The use of robotics in manufacturing processes is growing, and innovation in this field is happening quickly worldwide. By increasing productivity, efficiency, and precision, advanced robotics technologies—such as AI-driven automation systems and collaborative robots, or cobots—are transforming the manufacturing sector. The dominance of manufacturing in the worldwide robotics market is fuelled by the integration of robotics into manufacturing facilities, which helps businesses remain competitive in today’s dynamic market scenario.
Rising Interest in Service Robotics is Driving Demand for Robotics in Asia Pacific
Due to the strong demand for industrial and service robots in the region, Asia Pacific now leads the global robotics industry. China, Japan, and South Korea are among the nations that have made significant investments in the robotics sector recently. The Middle East and Africa are anticipated to register the fastest-growing rate for the global robotics market. The expansion is ascribed to the region’s growing adoption of automation technology, especially in the manufacturing and logistics industries.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/robotics-market
Drivers:
Increasing Demand for AutomationAdvancements in AI and Machine Learning TechnologiesRestraints:
High Initial InvestmentsLack of Skilled WorkforceProminent Players in Global Robotics Market:
FANUC America Corporation (US)Epson Robotics (Japan)Staubli International AG (Switzerland)YRG Inc. (US)Comau S.p.A. (Italy)Northrop Grumman Corporation (US)Honda Motor Co., Ltd. (Japan)Seiko Epson Corporation (Japan)Yamaha Motor Co., Ltd. (Japan)Adept Technology, Inc. (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/robotics-market
Key Questions Answered in Global Robotics Market Report
How big is the global robotics market, and what compound annual growth rate (CAGR) is it anticipated to deliver between 2024 and 2031?Which industries are fuelling the need for automation and fostering the expansion of the robotics sector?What impact have recent technological advancements and innovations had on the direction of the robotics market?Which well-known companies in the robotics industry are also major players in the global robotics market?This report provides the following insights:
Analysis of key drivers (increasing demand for automation across industries, improved the overall efficiency, productivity of the processes, demand for automation), restraints (high initial investments, difficult for small and medium-sized enterprises to invest, robots, sensors, and other equipment required not delivered), opportunities (advancements in AI and machine learning technologies, new opportunities for the robotics market, perform complex tasks with high accuracy), and challenges (lack of skilled workforce, maintenance of these robotics systems) influencing the growth of robotics marketMarket Penetration: Comprehensive information on the product portfolios offered by the top players in the robotics marketProduct Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the robotics marketMarket Development: Comprehensive information on lucrative emerging regionsMarket Diversification: Exhaustive information about new products, growing geographies, and recent developments in the marketCompetitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.Related Reports:
Global Service Robotics Market
Global Soft Robotics Market
Global Warehouse Robotics Market
Global Cloud Robotics Market
Global Robotic Welding Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
View original content:https://www.prnewswire.co.uk/news-releases/robotics-market-to-surpass-usd-126-96-billion-by-2031–skyquest-technology-302127230.html
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