Daily Archives: February 15, 2022

BURNABY, BC, Feb. 14, 2022 /CNW/ - Hedgehog Technologies is proud to join the official PartnerNetwork programby Rockwell Automation(NYSE: ROK), a global leader in industrial automation and robot manufacturing.

The PartnerNetwork programcreates an extensive network of leading suppliers, distributors, system integrators, and OEMs. It allows companies to streamline supply chains, improve project management efficiency, and deliver high value from automation investments.

"We are proud to have Hedgehog Technologies join our PartnerNetwork Program," said Mark Moriarty, manager, PartnerNetwork Program, Rockwell Automation. "The company's market leadership, technical superiority, and experienced staff, along with a true customer-first-focus, make Hedgehog Technologies a good fit in our program."

Hedgehog enters the partnership as a silver-level Controls and Machine SafetySystem Integrator, having demonstrated exceptional project leadership and risk management within the industrial sector.

"This is a major leap forward in terms of providing extended value to companies in the industrial automation sector," said Younes Rashidi, vice president of engineering operations at Hedgehog Technologies. "We look forward to contributing our controls and safety expertise as a System Integrator."

About Hedgehog Technologies

Hedgehog Technologies is a diverse team of electrical engineers who galvanize for a common purpose: to make complex visions a practical reality. Since 2001, Hedgehog Technologies has focused on innovative projects with a safety-critical approach from global amusement rides to solar arrays in extreme climates. Hedgehog employs PMP Project Management Professionals, TV Rheinland certified functional safety experts, Certified Energy Managers (CEM), and Professional Engineers (P.Eng.) with decades of experience.

About Rockwell Automation

Rockwell Automation, Inc. (NYSE: ROK), the world's largest company dedicated to industrial automation and information, makes its customers more productive and the world more sustainable. Headquartered in Milwaukee, Wis., Rockwell Automation employs about 23,000 people serving customers in more than 80 countries.

SOURCE Hedgehog Technologies Inc.

For further information: Media Contact: Cale Boudreau, Marketing Coordinator, Email: [emailprotected], Phone: +1.604.210.0204

The rest is here:

Hedgehog Technologies Joins the Rockwell Automation PartnerNetwork Program as System Integrator - Canada NewsWire

DUBLIN, Feb. 14, 2022 /PRNewswire/ -- The "SCADA Market by Component, Deployment Mode, End User - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

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The global supervisory control and data acquisition (SCADA) market is expected to grow at a CAGR of 14.7% from 2021 to 2028 to reach $57.2 billion by 2028.

Succeeding extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, and opportunities. The increasing demand for automated industrial control solutions and growing investment for installing automated and connected process & control systems to gain efficiency over human labor-based operations are some of the major drivers for the growth of this market.

Several companies are investing in automation technologies to gain cost-saving and productivity benefits. Additionally, the innovation of cloud-based SCADA systems offering enhanced collaboration and control over different processes and operations will propel the demand for SCADA systems in the coming years.

The COVID-19 pandemic has negatively impacted the global industrial operations and manufacturing activities, further impacting the SCADA market. Limited consumption of luxury goods, electronics, automotive, and fluctuation in the oil & gas prices during the pandemic and country-wide lockdowns has reduced the sales in respective industries, further limiting the demand for automation and SCADA solutions.

These factors highly impacted the investment of the end-users in industrial control solutions in 2020. The global market for SCADA will steadily recover in 2021 and 2022 as companies will witness a need for efficient control & monitoring solutions that work better than human labor.

Based on component, the SCADA market is segmented into hardware, software, and services. In 2021, the hardware segment is estimated to account for the largest share of the SCADA market. High demand for HMI, PLC, and RTUs in industrial control & automation solutions for providing efficient results and control over the manufacturing processes is driving the demand for SCADA hardware. Industry players are developing HMI and advanced PLCs in the modern SCADA systems that can work with cloud-based SCADA solutions.

Based on deployment mode, the market is segmented into on-premise, cloud-based, and hybrid. In 2021, the on-premise segment is estimated to account for the largest share of the market. On-premise solutions are implemented by several SMEs and companies with limited investment capability, as on-cloud solutions require huge costs. In on-premise software infrastructure, SCADA software is stored on the organization's hardware, offering better control over data, high security, and privacy.

Based on end user, in 2021, the oil & gas segment is estimated to account for the largest share of the market due to the increased utilization of SCADA solutions to monitor the oil & gas processing operations.

Story continues

Modernization of internal processes in the oil exploration & production process offers the managers and employees better access to information related to operation & maintenance, streamline production & distribution, and high yield benefits. In the oil & gas industry, the SCADA system plays an important role in preventing leakage along the pipeline. SCADA systems in the oil & gas industry reduce personal visits to the site, leading to route and dispatch optimization, further supporting market growth.

An in-depth analysis of the geographical scenario of the global SCADA market provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region.

In 2021, Asia-Pacific is estimated to command the largest share of the market, followed by Europe and Asia-Pacific. Factors such as high technical awareness related to industrial control solutions in China, Japan, and South Korea; presence of a large industrial sector; robust manufacturing capability; adoption of Industry 4.0 technologies; and transformation to smart factories are driving the growth of the APAC market.

Market Dynamics

Drivers

Rising Adoption of Automated Technologies Across Europe and Asia-Pacific

Increasing Adoption of Industry 4.0

Growing Demand for Smart and Digitized Production Processes

Government Support & Initiatives for Industrial Automation

Restraints

Opportunities

Value Chain Analysis

Companies Mentioned

The key players operating in the global SCADA market are

Rockwell Automation Inc. (U.S.)

Siemens AG (Germany)

Eaton Corporation plc (Ireland)

Schneider Electric SE (France)

ABB Ltd (Switzerland)

Yokogawa Electric Corporation (Japan)

General Electric Company (U.S.)

Emerson Electric Co. (U.S.)

Honeywell International Inc. (U.S.)

Mitsubishi Electric Corporation (Japan)

OMRON Corporation (Japan)

Pilz GmbH & Co. KG (Germany)

Survalent Technology Corporation (Canada)

Valmet (Finland)

and Hitachi (Japan)

Scope

Market by Component

Hardware

Programmable Logic Controller (PLC)

Remote Terminal Unit (RTU)

Communication Systems

Human-machine Interface (HMI)

Other Hardware Components

Software

Services

Professional Services

Managed Services

Market by Deployment Mode

On-premise

Cloud-based

Hybrid

Market by End User

Market by Geography

For more information about this report visit https://www.researchandmarkets.com/r/gvtfkk

Media Contact:

Research and Markets Laura Wood, Senior Manager press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

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Cision

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SCADA Markets - Global Forecast to 2028: Growing Demand for Smart and Digitized Production Processes & Rising Adoption of Automated Technologies...

WAUSEON, Ohio--(BUSINESS WIRE)--Wauseon Machine and Manufacturing, Inc. (Wauseon Machine), a provider of robotics automation, tube fabrication equipment, and build-to-print precision machined parts, is pleased to announce it has acquired McAlister Design and Automation LLC (McAlister Design) of Greenville, SC, to further Wauseon Machines aim of creating comprehensive automation solutions to meet the needs of customers, both current and future. This acquisition is a springboard for Wauseon Machines ambitious growth plans to make its automation capabilities and services available in more regions of the country.

At Wauseon Machine, we are strategically looking for companies that can complement and expand our existing capabilities, which will allow us to better serve our customers needs and help them improve their business, noted Scott Anair, president and CEO, Wauseon Machine and Manufacturing. The acquisition of McAlister Design, with their impressive team, capabilities and location, aligns extremely well with this strategy.

Wauseon Machine has been in an expansion mode since the appointment of Anair as president and CEO in 2020. With the McAlister acquisition, Wauseon Machine will double the size of its automation business overnight and position the company for double-digit growth moving forward.

Based in Greenville, SC, McAlister Design was founded in 1992 and built on the idea of being a trusted source for automation needs. Noted as one of the largest privately owned automation companies in Upstate South Carolina, McAlister Design has been recognized as a premier robotics systems integrator through its comprehensive suite of services. In addition to its industry-leading automation capabilities and expertise, McAlisters four facilities, totaling 48,000 sq. ft., bring significantly more capacity, both in floor space and technical resources, for automation projects.

What stuck out to me from our earliest conversations with Wauseon Machine is the level of respect they had for our history and our people, said Troy McAlister, founder and president, McAlister Design. Family businesses understand family businesses, and in the case of Wauseon Machine, they know this industry and aspire to be true leaders in the space. We look forward to being part of Wauseon Machines future.

About Wauseon Machine and Manufacturing

Wauseon Machine and Manufacturing, Inc. founded in 1983 headquartered in Wauseon, Ohio, is a portfolio company of Cornerstone Capital Partners in Dublin, Ohio, and specializes in robotics automation, tube fabrication equipment, and build-to-print precision machined parts.

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Wauseon Machine and Manufacturing Acquires McAlister Design to Expand Its Robotic Automation Capabilities and Footprint - Business Wire

BERLIN--(BUSINESS WIRE)--Micropsi Industries today announced the successful closing of its $30M Series B funding round. The company provides ready-to-use AI systems for controlling industrial robots to enable the automation of manufacturing processes that so far could not be automated.

By using cameras and sensors to react in real-time to dynamic conditions in a workspace, Micropsi-powered robots can be trained by humans to perform hand-eye-coordinated actions in industrial environments. MIRAI is successfully deployed in assembly, material handling and quality control applications in a wide range of industries. Companies like Siemens Energy; ZF Group, one of the largest automotive suppliers in the world, and BSH, the largest manufacturer of home appliances in Europe, are already using MIRAI in their production halls.

New investors Metaplanet, VSquared and Ahren Innovation Capital co-led the funding round. Existing investors Project A Ventures and M Ventures also participated.

MIRAIs Different Approach Does What Others Only Promise"Our technology makes it easy to transfer dynamic motion know-how from humans to robots, said Ronnie Vuine, CEO and co-founder of Micropsi. We have not optimized the textbook approach for specific applications but took a radically different approach inspired by how humans coordinate motions. MIRAI is a proven and independent technology thats working 24/7 in the factories of our customers. That is what convinced our investors: Here is a company that can already verifiably do what many current startups only promise to develop.

Industrial robots can compensate for labor shortages and secure supply chains. The manufacturing skills gap in the U.S for example could result in 2.1 million unfilled jobs by 2030. Before factories can put robots into service, however, a lot of preparatory work is necessary, with specialists developing software code line by line to trigger the individual movements of the machines. This is complex, expensive, and makes robots inflexible, as variance in positions or materials throw the robots off.

Micropsis MIRAI changes this. Using artificial intelligence (AI), workers are able to train the machines through demonstration. A human guides the robot arm through the work task, which then learns and carries out the movements autonomously. In doing so, it is able to handle variance and changes in the environment and the robots target at execution time. This expands the commercial potential of industrial robots, as it allows them to handle complexity and keeps them flexible even as conditions change.

MIRAI augments industrial robots. Once configured with MIRAI, a robot arm can perceive its workspace through cameras and continuously adjust its movements as it performs a task. MIRAI skills are not programs, they are collected intuitions of human movement that MIRAI then intelligently transfers to robots.

New funding plans: Expanding operationsThe new funding is going to be used to expand operations in the US, ramp up sales efforts and expand to more robot platforms. Micropsi Industries has recently hired robotics expert Prof. Dominik Bsl as managing director to be in charge of the companys ambitious technology roadmap. Prof. Bsl previously held positions at Festo, Kuka, and Microsoft.

Rauno Miljand, managing partner at Metaplanet, says: Intelligent robot automation could tap into a currently locked productivity pool. The end-to-end learning solution built by Micropsi is one of the most advanced systems in the market and is well-positioned to unlock potential in a wide array of industrial settings. The ease of use and the fast learning cycle make it one of the most scalable platforms in the industry.

About Micropsi IndustriesMicropsi Industries is a VC-backed robotics software company with offices in Berlin, Germany (R&D) and New York City. Founded in 2014, the company is at the forefront of innovation in robotic automation for manufacturing, with a particular emphasis on assembly tasks. For more information, go to micropsi-industries.com.

About Ahren Innovation CapitalAhren Innovation Capital is an investment institution that supports transformational companies at the cutting edge of deep science and deep tech. A group of highly diverse, creative and original thinkers leading their domains, Ahren Innovation Capital believes in taking considered risk that will deliver superior rewards capturing a generational opportunity to provide smart capital to deep technology. With a philosophy espousing the importance of relationships and trust, Ahren Innovation Capital provides long-term capital and support to exceptional founders and teams, empowering them to achieve the unimaginable.

About Metaplanet HoldingsMetaplanet is an early-stage investment firm making long-term bets on contrarians and leveraging the knowledge and network across sectors. We back mission-driven founders working on positively disruptive deep technologies.About Vsquared VenturesBased in Europes deep tech hub Munich, Vsquared Ventures backs ambitious founders and startups that tackle major challenges by engineering the seemingly impossible. Vsquared Ventures identifies and funds companies with the potential to become global leaders in future markets created by technological breakthroughs. Portfolio startups include companies such as Isar Aerospace, IQM Quantum Computing, Morpheus Space or Zama.ai

Continued here:

Micropsi Raises $30M Series B Funding to Scale Industrial Automation with Human Motion Trained Robots - Business Wire

Were on the edge of a major social shift in mobility. Autonomous vehicles are going to change our lives. Commutes will be unrecognizable, cities will change, and industries reshaped.

Were still a long way away from that but companies are edging ever closer.

There are prime examples, both approaching the challenge in very different ways. The first is Tesla, with itsbeta-testing of Level 2 driver-assist techthat aims to progress to full vehicle automation.

The second is a group of companies involved in the development and deployment of autonomous robotaxis.

But how do they compare? And how do we get from here to a fully autonomous future?

If we look beyond the tech alone, two significant measures of success come to mind: partnerships and capacity for scale.

By partnerships, I mean industry collaborations that advance not only the number of vehicles, but the tech, as well as its accessibility to users.

Scale is also critical. We need a lot of cars on the road before vehicle automation is anywhere near hitting critical mass.

Lets a look at how the two approaches face up against each other.

In 2021, Tesla reportedly produced and delivered over 930,000 electric cars worldwide.

If we look at the number of sales alone, thats a mammoth army of Tesla owners.

And, spoiler: there is nowhere near that number of autonomous robotaxis on the roads in testing or otherwise. So, if Tesla can successfully develop autonomous tech, they win the battle on private car ownership alone.

Thats a big if though, especially considering theyre only testing Level 2 vehicle automation.

Currently, Teslas driver-assist cannot be deployed without an initial safety score determined by monitoring user behavior over some time.

If the companys goal is to go from driver-assist FSD to robotaxi, a lot needs to go right. Plus, there has to be a technological improvement much of which current robotaxi makers are already deploying.

The reality is that no one knows how easy it will be to switch Tesla FSD beta testers into Level 3 and 4 autonomation, let alone full automation.

Last year Musk announced that the number of American FSD Beta vehicles went from a couple of thousand in Q3, to nearly 60,000 by the end of Q4 a massive leap in anyones book.

By comparison, if we look at China, the adoption of FSD is surprisingly low. It sits at 1% to 2%, compared to an adoption of 20% to 25% in the US and Europe.

Teslas business model is deploying owners to test their software as it evolves, so they can iron out the bugs.

But these low adoption rates suggest there are a lot of people who dont want to drive their car with driver-assist, let alone full automation. This makes it difficult to advance their driving tech in the real world. Especially when we compare it to the heavy lifting already done by companies like Argo, Cruise, and Waymo.

Prior to the challenges of getting enough beta testers, Elon Musk predicted that Tesla will have their own robotaxis on the road by 2023. Can it succeed?

In 2021, the company sold over 100,000 Model 3 cars to Hertz. And in October of the same year, Hertz and Uber alsoannounced a partnership to make up to 50,000 Teslas available by 2023 for Uber drivers to rent.

But does this translate to 100,000 robotaxis in the making? Hardly! Theyre still beta testing Level 2!

Compare this to the groundwork existing robotaxi companies have put in.

Robotaxi companies Baidu Apollo, AutoX, Pony.ai, WeRide, Didi, WeRide, Waymo, Argo, Aurora, and Cruise, are all partnering with various brands to develop the technology needed to get autonomous taxis on the road.

Cruise (majority-owned by GM) is currently deploying autonomous robotaxis in San Francisco. In 2021, Cruise CEO Dan Ammann announced a target for at least one million self-driving vehicles by 2030. This feels like a far more realistic and achievable aim than what Tesla has suggested.

Its not all plain sailing. Lets not forget how the legal status of autonomous vehicle technology differs wildly throughout different parts of the US. How easy will it be to get all states on board?

Currently, autonomous taxis only operate on pre-mapped streets. By comparison, Tesla FSD drivers can go anywhere.

We have no way to know if autonomous robotaxis will have mapped the whole of the US before Teslas are operating without human drivers.

If I was to place a bet, I think well see more Teslas on the road than robotaxis.

But heres the kicker: the Teslas wont be autonomous. Maybe theyll progress from Level 2, but I cant see them going from Level 2 to 5 without a lot of challenges especially in safety and regulatory approval.

So there we are. The robotaxi industry and Tesla have significant challenges scaling and evolving their tech. Furthermore, they all need to convince the public that they want to travel by autonomous vehicle and this may be their biggest challenge of all.

The rest is here:

Tesla vs. robotaxis: Whos winning the autonomous vehicle race? - The Next Web

One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. To keep the lesson grounded in practicality, we'll use ROE to better understand ATS Automation Tooling Systems Inc. (TSE:ATA).

Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.

View our latest analysis for ATS Automation Tooling Systems

The formula for ROE is:

Return on Equity = Net Profit (from continuing operations) Shareholders' Equity

So, based on the above formula, the ROE for ATS Automation Tooling Systems is:

11% = CA$105m CA$972m (Based on the trailing twelve months to December 2021).

The 'return' refers to a company's earnings over the last year. One way to conceptualize this is that for each CA$1 of shareholders' capital it has, the company made CA$0.11 in profit.

Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. Pleasingly, ATS Automation Tooling Systems has a superior ROE than the average (4.7%) in the Machinery industry.

That's what we like to see. With that said, a high ROE doesn't always indicate high profitability. Especially when a firm uses high levels of debt to finance its debt which may boost its ROE but the high leverage puts the company at risk.

Companies usually need to invest money to grow their profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, the use of debt will improve the returns, but will not change the equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.

It's worth noting the high use of debt by ATS Automation Tooling Systems, leading to its debt to equity ratio of 1.11. With a fairly low ROE, and significant use of debt, it's hard to get excited about this business at the moment. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it.

Return on equity is one way we can compare its business quality of different companies. In our books, the highest quality companies have high return on equity, despite low debt. If two companies have around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.

Having said that, while ROE is a useful indicator of business quality, you'll have to look at a whole range of factors to determine the right price to buy a stock. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So you might want to take a peek at this data-rich interactive graph of forecasts for the company.

But note: ATS Automation Tooling Systems may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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A Closer Look At ATS Automation Tooling Systems Inc.'s (TSE:ATA) Impressive ROE - Simply Wall St

Latest survey on Tax & Revenue Collection Software Market is conducted to providehidden gems performance analysis of Tax & Revenue Collection Softwareto better demonstrate competitive environment . The study is a mix of quantitative market stats and qualitative analytical information to uncover market size revenue breakdown by key business segments and end use applications. The report bridges the historical data from 2015 to 2020 and forecasted till 2026*, the outbreak of latest scenario in Tax & Revenue Collection Software market have made companies uncertain about their future outlook as the disturbance in value chain have made serious economic slump. Some are the key & emerging players that are part of coverage and profiled in the study are Tyler Technologies, Thomson Reuters, Business Automation Services, BS&A Software, CentralSquare Technologies, CSS IMPACT, Harris Local Government, DEVNET Incorporated, Edmunds GovTech, Business Management Systems (BMSI), Abila, Jordan Tax Service, LandNav, Harris Govern, Municipal Systems, NET Data Corporation, OAC Network Solutions, PUBLIQ Software, Invenio Business Solutions, Selectron Technologies, Sigercon, Point Software, TaxPRO, Grant Street Group & Rock Solid Technologies.

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Market Analysis by Applications:Government & Institution

Tax & Revenue Collection Software Quantitative Market Data

Market Data breakdown by major geographies, Type & Application/End-users Tax & Revenue Collection Software Market Revenue & Growth Rate by Type [, Global Tax & Revenue Collection Software Market Segment Percentages, by Type, 2021 (%), Cloud-Based & Web-Based] (2016-2026) Tax & Revenue Collection Software Market Revenue & Growth Rate by Application [Government & Institution] (2016-2026) Tax & Revenue Collection Software Market Revenue & Growth Rate by Each Region Specified (2016-2026) Tax & Revenue Collection Software Market Volume & Growth Rate by Each Region Specified, Application & Type (2016-2026) Tax & Revenue Collection Software Market Revenue Share & Y-O-Y Growth Rate by Players (2020)

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Tax & Revenue Collection Software Market Is Booming Worldwide | Business Automation Services, Tyler Technologies, Thomson Reuters, Point Software...

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Chapter 1: Overview of Global Healthcare Automation Market (2022-2028)

Definition Specifications Classification Applications Regions

Chapter 2: Market Competition by Players/Suppliers 2022 and 2028

Manufacturing Cost Structure Raw Material and Suppliers Manufacturing Process Industry Chain Structure

Chapter 3: Sales (Volume) and Revenue (Value) by Region (2022-2028)

Sales Revenue and market share

Chapter 4, 5 and 6: Global Healthcare Automation Market by Type, Application & Players/Suppliers Profiles (2022-2028)

Market Share by Type & Application Growth Rate by Type & Application Drivers and Opportunities Company Basic Information

Chapter 7, 8 and 9: Global Healthcare Automation Manufacturing Cost, Sourcing & Marketing Strategy Analysis

Key Raw Materials Analysis Upstream Raw Materials Sourcing Marketing Channel

Chapter 10 and 11: Healthcare Automation Market Effect Factors Analysis and Market Size (Value and Volume) Forecast (2022-2028)

Technology Progress/Risk Sales Volume, Revenue Forecast (by Type, Application & Region)

Chapter 12, 13, 14 and 15: Global Healthcare Automation Market Research Findings and Conclusion, appendix and data source

Methodology/Research Approach Data Source (Secondary Sources & Primary Sources) Market Size Estimation

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Healthcare Automation Market Know How the Players Have Valued the Data-Based Analytics to Stay on the Top of the Competition, Players Aetna, Inc.,...

In todays transaction-driven banking environment, providing an exceptional treasury management experience and service are key factors in creating value for customers. In order to optimize treasurys value, banks must embrace automation in their sales and onboarding processes to reduce the amount of time between when a new treasury customer says yes to the first time a customer receives an account analysis statement.

Treasury management is one of the most complex operations in any institution, yet most technical solutions that are used to manage the process are limited to single aspects of the treasury process. For example, regular maintenance and routine changes are typically very labor intensive in most systems or processes, and as a result, are ineffective at creating a seamless end-to-end process.

This often means that, even if the bank has an existing treasury system, they continue to rely on manual, paper-based and disparate processes requiring multiple approval layers. The result? Extended cycle times, decreased revenue and customers who are looking for alternative methods to achieve their complex commercial transaction requirements. By taking a look at each role in the treasury process, one can easily understand why it presents operational challenges. These challenges can include:

Because of the number and complexity of treasury products and services, a cumbersome delivery model is a gateway to lost opportunities and underperformance.

In order to fully optimize the treasury process and capture critical opportunities for non-credit, fee-based income business and more complete customer relationship management, it is clear banks should embrace an integrated, end-to-end automated treasury strategy that connects directly to their lending and deposit process.

A typical, fully implemented onboarding process offers the following benefits:

Moving forward, banks must think of treasury origination and onboarding from a digital and fully integrated perspective, where technology is easily managed by the institution and each stakeholder is seamlessly connected in the process, resulting in success and value for both the bank and the customer.

Our latest guide outlines treasurys value, common challenges faced during the treasury process and how the right combination of onboarding strategy and technology can lead to measurable straight-through processing results and accelerate time to revenue.

To learn more about elevating the customer experience and driving revenue through treasury management, download our guide here.

Link:

Optimizing treasury management sales and onboarding - bankinnovation.net

India boasts of having one of the largest food processing sectors at the global level. It comprises 32% of the global food market share and 11.6% of employment opportunities. Grains, sugar, edible oils, beverages, dairy products, packaged, preserved as well as ready-to-eat food items occupy a significant share in the segment.

While the market has always been driven by labor; ever since the coronavirus outbreak, it is gradually treading on the path of digital transformation. According to Invest India, the national investment promotion and facilitation agency, India's food processing industry is growing at a significant pace and is projected to be valued at the $535 billion mark by 2025-26 owing to tech deployment.

Amongst the new-age technologies, automation however receives a special mention as the industry has been keen to embrace this technology as a solution.

The impact of the pandemic on the food processing segmentIn the pre-pandemic times, consumers were inclined towards purchasing unpackaged and loose food items from their trusted shopkeepers. However, Covid-19 transformed the scenario altogether. Not only it expedited digital adoption of the sector but also brought about a shift in the customers' preferences. As a result, the modern consumers now prefer customised products that come with a promise of health quotient and quick delivery.

The automation of the Indian food processing segmentWhile earlier technology was adopted by the players to survive and thrive in the market and cope with unforeseen situations; digitisation is now being embraced to enjoy a competitive edge. The industry players rely on automation to meet thegrowing and diversifying demands of the consumers. Various segments such as snacks (namkeen, bhujia, mixture), and frozen foods (naan, samosa, bhajias) have incorporated automation in the form of complete lines for fried snacks, extruded snacks fryer, aloo bhujia/namkeen extrusion line, automatic moongdal processing lines, as well as specifically designed equipment such as conveyors.

Along with them, complete lines and conveyors for baked snacks and automation solutions for Indian sweets including soanpapdi, kajukatli, gulabjamun, are other automation forms that are also witnessing a growth.The industry players are leveraging the power of this solution for pumping and extrusion, washing and soaking, weighing and blendingprocesses, and automate all of these processes so as to ensure smooth operations.

According to Meticulous Researchs recent reports, the global food automation market is expected to grow at a CAGR of 9.5% from 2020 to 2027 and will hit the $29.4 billion mark by 2027. The study further points out that the APAC region especially India is increasingly adopting automation and this trend will continue to pick up pace in the times ahead as well. Thus, it would be appropriate to say that automation is playing a pivotal role in upscaling the market and offers a plethora of benefits to the industry players. Simplifying operations and improving efficiencyAutomation as a solution is helping in simplifying and improving operational efficiency. Not only is the inventory management streamlined but the supply chain management and product recalls are also facilitated. With the automation of the product line, machines can communicate seamlessly with one another, analyze any issues that may arise, and resolve the problems in real-time without human intervention.

Boosting efficiencyMachines perform tasks with greater efficiency, speed, and accuracy as compared to manpower. They don't feel bored, fall ill or become unproductive frequently except in case of malfunctions. Incorporating the technology of automation in the food processing market thus helps increase the performance and enhances the productivity of the operations. Ensuring end-to-end traceabilityAutomation can help track the products right from their inception to fulfillment stages. At the manufacturing front, process monitoring and control are automated where the machines monitor and analyse the operations, detect deviations and take corrective measures without involving humans. This end-to-end traceability provides data that will not only help in tracking the products but also in building a detailed profile and predictive system for the long run.

Ensuring quality checksA vital element in the food processing sector is quality control. Faulty, defective, or contaminated products can tarnish your brand image as well as the relationship with your customers. Automation is helping in dealing with this challenge and is ensuring food hygiene at various levels. With this solution, the quality of food, colour, shape, volume, and labelling accuracy can be monitored. The technology even helps detect the presence of any foreign substance on the product surface. Problems can be identified well in advance during the processing or packaging stages. This way, automation ensures that only quality and premium products enter the market and reach the customers.

Ensuring worker productivity and reduced operational costAutomation takes over repetitive and mundane tasks. It relieves humans from the boredom and unproductivity associated with routine work and spares them time to focus on important responsibilities of customer satisfaction, managing the organization, and driving its growth. When machines work in place of humans, the labour maintenance and retention costs reduce significantly. It also leads to fewer accidents and hence lower insurance premiums. Adopting automation thus offers the added benefit of reduced operational costs for food processing firms.

Coming with the promise of reduced wastage and boosted sales Automation enables the production of food items with minimal use of ingredients that too without compromising on their appearance, taste, or quality. This helps increase the line efficiencies which further pave the way for bottom-line profit and greater sales.

Digital adoption was once an option but has now emerged to be the dire need of the hour for the Indian food processing industry. It has always been known as a labour-intensive sector. However, with automation gradually foraying into the segment, the market is disrupting digitally in the truest sense. The technology is helping organisations to reduce their operational costs, boost their productivity, tap the global markets and ensure greater efficiency, customer satisfaction along with food safety and quality.

Automation adoption in the industry is still in its nascent stages but will soon pick up pace in the times to come. It offers a myriad of benefits and will emerge to be a game-changer for the Indian food processing sector. Hence, it would to be appropriate to say that due to automation, the market seems to have a promising future.

(The authored is director at Kanchan Metals)

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Food processing industry in India - Benefits of automation | FNB News - fnbnews.com