Tecnotree Launches Global Cost Efficiency Program to Drive Operational Excellence
Tecnotree Corporation Stock Exchange Release 28 March 2024 at 11:00 EET
Tecnotree (TEM1V.HE), a global digital platform and services leader for AI, 5G, and cloud-native technologies, announces the initiation of a global cost efficiency program aimed at enhancing operational effectiveness and maximizing shareholder value and maintaining investments.
As previously announced in the 2023 financial report the company will embark on a global initiative targeting significant cost optimization across its operations. This program will encompass locations in the USA India, and Finland, optimizing production processes and streamlining activities to achieve greater efficiency and competitiveness in the market. The targeted efficiency improvements are expected to yield between 5 to 7 percent annual savings with full effectiveness anticipated by 2025. These savings will be achieved through a combination of streamlined operations, enhanced productivity, and optimized resource utilization.
We would like to clarify that this release does not change the previously announced profitability forecast. The cost efficiency program is part of our ongoing efforts to enhance operational effectiveness and is in line with our long-term financial objectives.
Further information
Indiresh Vivekananda. CFO. tel. +971 56 410 8357
Tecnotree is a 5G-ready digital Business Support System (BSS) player, with AI/ML capabilities and multi-cloud extensibility. Tecnotree is as No.1 on the TM Forum Open API Conformance table with 59 Open APIs, and this is a result of our pursuit towards delivering excellence and consistently providing differentiated experiences and services to the CSPs and DSPs. Our agile and open-source Digital BSS Stack comprises the full range (order-to-cash) of business processes and subscription management for telecom and other digital services industries creating opportunities beyond connectivity. Tecnotree also provides Fintech and B2B2X multi-experience digital marketplace to its subscriber base through the Tecnotree Moments platform to empower digitally connected communities across gaming, health, education, OTT, and other vertical ecosystems. Tecnotree is listed on Helsinki Nasdaq (TEM1V).
For more information, please visit www.tecnotree.com or social media channels – LinkedIn I Facebook I Twitter