Vendor Analysis
published on Jun 24, 2016
Report Overview:
This NelsonHall vendor assessment analyzes Cigniti’s offerings and capabilities in software testing.
Who is this Report for:
NelsonHall’s software testing vendor assessment for Cigniti is a comprehensive assessment of Cigniti’s software testing offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of IT services and identifying vendor suitability for software testing services
- Vendor marketing, sales and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the software testing sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Cigniti’s software testing offerings, capabilities, and market and financial strength, including:
- Analysis of the company’s offerings and key service components
- Revenue estimates
- Identification of the company’s strategy, emphasis and new developments
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s strengths, weaknesses and outlook.
Key Findings & Highlights:
Cigniti Technologies (Cigniti) is a Hyderabad headquartered software testing vendor which is BSE and NSE listed. In FY 2016 (year ending March 31, 2016), it had revenues of INR 5,949m (~$89m). Cigniti’s CY 2015 revenues were INR 5,505m (~$85m). Its headcount at the end of CY 2015 was ~1.8k (and 2.3k in May 2016). It has a current market capitalization of ~$150m.
Cigniti has 300 clients, the largest being a U.S. low cost airline carrier; up to 175 Cigniti personnel work for this client. Other brand names among Cigniti’s main clients include Synovus, Freeman, Alfa Insurance in the U.S.; Ryanair, Baptcare, Nimble; and Indigo Airlines in India.
Cigniti has focused on winning large managed testing contracts. It has won contracts of up to $20m in TCV, including two large contracts, with a U.S. low cost airline carrier and Alfa Insurance, both in the U.S. Also Cigniti regularly wins contracts with TCV of $1m-$5m.