Buying a home is a high-stakes game. But many first-time buyers do not realise the significant financial and legal obligations they are bound to once they sign an Offer to Purchase (OTP).
“Many buyers look to real estate agents as their first point of contact to provide them with guidance and information as they traverse the road to homeownership,” said Jackie Smith, head of Buyers Trust, a subsidiary of Ooba Group.
Smith said that estate agents in South Africa are committed to the interests of both the buyer and seller. However, buyers must be responsible and educate themselves on the financial and legal implications that come with signing an OTP.
“OTPs are legally binding and massively expensive for you as a buyer should you try to back out from the deal after signing. Therefore, you must ensure that you are adequately informed and prepared for the decision you’re about to make. Here is a set of questions with will assist you with the decision-making required,” Smith said.
Question 1: Have you calculated your long-term affordability?
Buying a home is a long-term financial commitment, with the most common bond repayment period being 20 years.
“Buyers must think long-term: Are you able to afford the costs that come with buying a property? Will you be able to comfortably afford your repayments every month? Can you still afford the property when there are interest rate increases? Will you still be able to afford the payments in the case of an unexpected life event?” Smith said.
The general rule of thumb is to not spend more than 30% of your gross salary on a bond repayment each month – even if you get approved for a larger bond. This percentage considers possible interest rate hikes and leaves room for living expenses.
“Long-term affordability is the most important issue to consider,” said Smith. “If a potential buyer cannot afford to finance the purchase of the property at a particular price-point long-term, it would be irresponsible for them to go further.”
Question 2: Do you have a deposit and where would you like it to be kept?
There are many benefits to putting down a deposit – Typically around 10% of the purchase price. Having a deposit will reduce the monthly bond repayment amount and can help you to negotiate a lower interest rate with the bank as you have proven your ability to contribute to the total cost of the property.
“It also helps buyers to stand out from the competition when multiple buyers are vying for the same home,” noted Smith
Once you have decided to put down a deposit, you must decide how you would like it to be managed as you have multiple options to choose from.
These options include:
- Paying the deposit into the transferring attorney’s trust account.
- Paying the deposit into the estate agent’s trust account.
- Having a guarantee issued by a secure third-party like Buyers Trust.
“Many estate agents prefer not to manage buyer’s deposits because of the extra admin associated with it and the need to up their security to protect the deposit from cybercrimes such as phishing,” said Smith.
“Thus, buyers should be aware of the third-party alternatives available when it comes to managing the deposit, such as the service offered by Buyers Trust.”
Under Buyers Trust, you receive a competitive return on your investment and deposits are kept safe through the highest level of security measures. A buyer has 100% visibility of their deposit at all times and a free guarantee is issued to the transferring attorney.
Question 3: Do you have money set aside for the extra costs involved?
You as the buyer are responsible for the legal fees of the conveyancer, as well as paying the transfer duty to SARS.
In addition to these costs, you must factor in rates payable to the municipality, fees to the relevant banks and administrative costs incurred in the filing of paperwork.
As an example, here are the extra fees on a R1,500,000 freehold home calculated using Ooba’s transfer cost calculator:
- Bond registration cost (incl VAT): R29,394
- Bank initiation fee (incl VAT): R6,038
- Deeds office fees: R1,371
- Post, petties, FICA other fees (incl VAT): R1,400
Total bond registration cost = R38,203
- Property transfer costs (incl VAT): R29,394
- Transfer duty: R18,750
- Deeds office fees: R1,371
- Post, petties, FICA and other fees (incl VAT): R1,400
Total transfer cost = R50,915
Total extra costs: R89,118
“For more expensive properties. the extra costs involved in buying a home can be more than R100,000,” said Smith. “Given that buyers are legally required to pay these fees once the OTP is signed, it’s crucial that your estate agent sits down with you to make sure that you understand the total costs involved in the homebuying process.”
Question 4: Do you understand the terms of the OTP?
Finally, the somewhat obvious question a buyer should ask themselves before signing a legally binding OTP – do you understand what you’re agreeing to?
As a buyer, your estate agent will be able to explain the OTP carefully to you so you understand what you are going to agree to before you sign. “Pay close attention to the section in every agreement that lists fixtures (attached to the property, such as ceiling fans) that are excluded and chattels (not permanently attached, such as appliances) that are included,” said Smith.
Smith recommends that buyers inspect the property carefully before making an offer. “If you discover significant issues only after the OTP has been signed, you’re potentially stuck with a less-than-desirable property.”
“Finally, your estate agent will be able to help you to stipulate any conditions in the OTP that need to be fulfilled before you can complete the transaction. These could include the sale of your current home, or that the purchase is subject to your bond application being approved. This gives you time to acquire the necessary funding,” she said.
Read: Good news for home loans in South Africa – banks are still lending
A global business software company has been sold to an investment company in a deal worth more than £1 billion.
Shareholders in Nottingham-based Ideagen have formally agreed the sale to an offshoot of software and services investor Hg.
Ideagen has seen substantial growth since its admission to the Alternative Investment Market (AIM) on the London Stock Exchange, investing heavily in acquisitions.
The business provides global software and services to customers in industries such as aviation, financial services, life-sciences, healthcare and manufacturing.
It has operations throughout the UK, US, Europe, Middle East and South-East Asia.
Clients include blue chip, global brands such as Heineken, British Airways, BAE, Aggreko, the US Navy, Bank of New York and Johnson Matthey, as well as 250 hospitals across the UK and US.
Ideagen chief executive Ben Dorks said it was “incredibly” exciting news for the business.
He said: “Hg share our values and our ambition, whilst their operational experience in software has successfully helped businesses to accomplish their goals many times over.
“This new relationship will give us the ability to accelerate even faster, serve our customers better and scale our business further across the globe.
“I want to take the opportunity to thank those at the heart of our success, including our colleagues around the globe working hard to provide trusted software solutions that help protect organisations, as well as tens of thousands of customers we work with.
“We are on an exciting journey of growth and progression, one that continues to deliver solutions to help improve operational efficiency, maintain compliance, manage risk and keep people safe.”
Hg, which announced its interest back in April, is a big software and services investor which manages more than $40 billion of funds.
It has offices in London, Munich and New York and a strategy of taking controlling shares in businesses headquartered in Europe and North America.
In a joint statement Hg partners C hristopher Fielding, Joris Van Gool and Jean-Baptiste Brian, said: “We are delighted that Ideagen’s shareholders have voted in favour of this partnership with Hg.
“We have long recognised Ideagen as a high-quality software business and are excited about the future.
“Ben and the team will now have greater flexibility to execute and accelerate longer term growth plans, including investments in product, technology, talent and large scale, accretive M&A.
“Together we are in a great position and remain committed to ensure that Ideagen maintains and grows as a leader in the sector.”
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Top European planemaker Airbus has advanced technology sharing and manufacturing agreements with entities linked to China’s state-run military apparatus, a new report shows.
The findings will beg questions over how long Europe’s aviation champion can continue to secure its strong market position in China with such local partnerships, when faced with an increasingly tense strategic relationship between Beijing and the West and growing calls for less dependence on Chinese manufacturing.
While Boeing’s sales of aircraft in China were hammered by the U.S.-China trade war under former President Donald Trump, Airbus has been far more successful in the country. Since it entered the Chinese market in the mid-1980s, Airbus has perfected the art of localization like few other multinationals. It chose the city of Tianjin for its only non-European final assembly line for wide-body A330s and picked a Communist Party member as chief executive, according to a new report by Horizon Advisory, a U.S.-based consultancy.
While many elements of Airbus’s strong relationship with China are already well known, researchers Emily de la Bruyère and Nathan Picarsic scoured open source material, including Chinese sources, to focus more squarely on some of the interactions with entities such as AVIC, the state-owned aviation and defense conglomerate, and the issue of industrial dependencies.
“Airbus’s ties to the Chinese market appear to carry outsize risk,” Horizon Advisory says in its report, which has been shared in advance with POLITICO. “Airbus-China engagement entails significant ties to China’s military and military-civil fusion apparatus, including in the form of supply dependencies, technology sharing, and research and development cooperation,” it adds.
Airbus did not respond to requests for comment when asked specifically about the activities in China that the report raises as a concern. On its web site, Airbus notes that its China operations are only one element of a big industrial program in the Asia-Pacific region, saying that it has partnerships “with more than 600 firms in 15 countries supplying parts for Airbus aircraft.”
Horizon Advisory’s report, funded independently by the organization itself, is likely to make for an uneasy read for many EU politicians and lawmakers who have grown increasingly skeptical of the traditional way of doing business with China.
China’s aviation sector grew out of the People’s Liberation Army Air Force and was never fully privatized or separated from its military roots. In recent years, President Xi Jinping has called for “civil-military” fusion and introduced numerous laws and regulations that require a very broad range of companies — especially those in strategic industries and including joint ventures with international companies — to cooperate with the country’s military and intelligence agencies.
“Airbus has learned a lesson in the hard way,” said a senior Western defence official, speaking on condition of anonymity due to the sensitivity of the issue. “It’s been a concern for some governments … but before the recent geopolitics, everyone was enthusiastic about the China market.”
Commenting on the general business environment, Bart Groothuis, a Dutch member of the European Parliament and a defense expert, said: “I believe we are still not doing enough to keep our intellectual property safe while cooperating with China … Nor are we fully aware to what extent our cooperation with Chinese civilian military organisations can lead to advancing the Chinese military.”
According to the report, Airbus “operationalizes its presence in China through a set of at least 10 legal entities, five of which are joint ventures with Chinese state-owned, military-tied players.”
At the core of this is AVIC, or Aviation Industry Corporation of China. Airbus holds a 5 percent share of AviChina, the Hong Kong-listed arm of AVIC, as a strategic investor. It continues to hold stakes in the company even though seven other AVIC subsidiaries were designated as “military end users” in 2020 by the U.S. Commerce Department under Trump’s administration, which called on exporters to step up screening. The EU has no similar regulations against AVIC or its subordinate companies.
According to Chinese media reports, the Airbus-AVIC joint venture is responsible for 5 percent of the airframe of one of Airbus’ newest models, the A350XWB. All of Airbus’ A320 wings assembled in Tianjin will be manufactured by AVIC subsidiary Xian Aircraft Company (XAC), which also develops and produces the Y-20 military transport aircraft used by the Chinese military.
“Throughout 20-odd years of partnership with Airbus on the A320 family, XAC has fully grasped the whole set of manufacturing technology of A320 wing design, from component manufacturing, assembly, final assembly to integrated delivery,” XAC Deputy General Manager Han Xiaojun said last month. “This marks yet another critical step supporting China’s strategic planning toward a transport superpower, aviation superpower and manufacturing superpower.”
The report pointed out that, in several cases, Airbus had become dependent on Chinese companies — including military linked ones — as sole, or almost sole, suppliers of key parts such as certain types of rudder, elevator and door.
Future projects in China will include even more sensitive areas. “We are also considering increased integrated cooperation with China in new technology areas like big data, artificial intelligence and new energy,” George Xu, CEO of Airbus China, wrote in an article earlier this year “This is why we chose Shenzhen to set up the world’s second Airbus innovation center, the only one outside the United States.”
There is no indication that any of Airbus’ technology has ended up in the possession of the Chinese military. Airbus did not respond to POLITICO’s question on whether sensitive technologies had reached the Chinese military.
On the other hand, China’s homegrown aircraft manufacturer, Commercial Aircraft Corp. of China, or Comac, has been making inroads in recent years. Last month, Comac completed the first test flight of the first C919 jetliner to be delivered. Already, Airbus considers Comac as a long-term competitor.
“Comac is developing the 919 that will be a single-aisle product entering into the market probably [this] year or the year later. It will start slowly, probably reaching at the beginning only the Chinese airlines. But we believe this will progressively become a decent player,” Guillaume Faury, chief executive of Airbus said. “So we will grow probably from a duopoly to a triopoly, at least on the single-aisle [planes] by the end of the decade.”
In line with its commitment to making the average median earning family own their own homes in any part of the country, SuCasa is set to launch its accessible, ultra-modern properties on June 2022 at the De Icon Events Centre in East Legon, Accra.
The launch event will showcase SuCasa’s luxurious two, three and 4-bedroom units.
Speaking ahead of the launch, CEO of SuCasa Properties, Michael O’Grantson-Agyapong noted that there will be an exclusive discount offer for all prospective clients in attendance.
“If we indeed want to see our nations within the region shed the tag of ‘developing countries’ and to be part of the developed world at a rapid rate, this begins with the real estate industry, in my not-so-humble opinion. Nations are built. The onus lies on the private citizen to build and manage our nations with the support of the honorable men holding public offices, not the other way round.”
“SuCasa envisions to lead the way in the delivery of real estate services and projects in the real estate industry. It is our mission to bring to the table a classic approach with modern systems to curb the lack of access to homes in our society. To reward our prospective clients and many partners, we will be giving an exclusive discount offer to all in attendance” he added.
On his part, General Manager of SuCasa Properties, Abdul Rahman Shehab assured clients and prospective clients of free litigation and excellent service.
“We assure our clients of free litigation and convenience of service by conducting our due diligence. Also, we engage in strategic partnerships to ensure your comfort. Collaboration, accountability, sustainability, and ingenuity are our core values. We are looking forward to have you join the SuCasa O’Granston Community”, he concluded.
SuCasa Properties is a real estate company that provides all your realty services. SuCasa Properties design, build, sell, rent, renovate, offer consultancy and advisory services on litigation, and property management. It is the only real estate company that offers a 100% cash back guarantee and are the custodian of client satisfaction.
Source: Peacefmonline.com/Ghana
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Behind the automation boom coming to the hotel industry, from 24-hour check-in to texting for towels
Mathisworks | Digitalvision Vectors | Getty Images
For years, hotel operators have under-invested in technology, but persistent labor challenges are forcing a reckoning in the industry.
“The labor issue is a big driver for investments in technology,” said Mark Haley, a partner at Prism Hospitality Consulting, which specializes in hospitality technology and marketing. “You can’t hire enough people. … I would submit to you that to most hoteliers today, [labor] is a more profound and concerning issue than a pending economic slowdown.”
At the moment, hotel operators are reporting brisk bookings, even in the face of rising room rates. Thank leisure travelers. They seem so eager to get out and about that they aren’t flinching at the higher prices. Hotel revenue per available room, a key industry metric known as RevPAR, will likely top pre-pandemic levels this year, on a nominal basis, according to two industry forecasts.
The latest, released by STR and Tourism Economics at the NYU International Hospitality Industry Investment Conference this week, predicts that hotel occupancy will remain below 2019 totals but average daily rates will be higher by about $11 than the group’s prior forecast.
The outlook factors in the possibility of a recession, but doesn’t expect the economy’s slowdown to force the traveling public to alter their habits. And it anticipates that business travel will continue to ramp up heading into next year.
“It’s kind of a cold reality that even in a fairly deep recession, more often than not, 70-80% of the population isn’t seeing it. They’re still getting their regular paychecks and they’re still traveling,” Haley said.
Business travel has long been a key driver of hotel spending and its weakness continues to be felt. In April, the American Hotel & Lodging Association and Kalibri Labs projected that hotel business travel revenue will be 23% below pre-pandemic levels this year, which is a loss of about $20 billion from 2019. In 2020 and 2021 combined, the industry lost about $108 billion in business travel revenue, according the AHLA.
In May, PwC projected business traveler growth next year will help offset any softening from leisure demand. It anticipates average daily room rates would be up 16.9% in 2022 from the prior year, prompting a 28.1% climb in RevPAR from last year. Then, in 2023, higher occupancy and room rates will help RevPAR rise 6.6% year over year, which would be 114% of the 2019 level.
Skipping the front desk, texting for towels
As guests venture back to hotels they likely will notice some big changes, hotel operators say. Among them is a greater reliance on technology, which is often being used to help ease the impact of staff shortages.
More guests should be able to skip the front desk, and check into their rooms using a kiosk or app on their phone. Oracle and travel industry trade publication Skift conducted a survey of 633 hotel executives this spring and nearly all — some 96% — were investing in self-service technology at their hotels. And 62% said they expect contactless experiences will be the most widely adopted tech over the next three years.
Marco Manzie, founder and president of Paramount Hospitality Management, which operates five resort and hotel properties in Orlando, Florida, said he sees the investment in technology as a must because it has the power to lower his costs over time.
“When we look at the leanness of the future economy, it has most hoteliers and owners of hotels taking a step back and revisiting ways to improve their bottom line margins because they’ve been eroded from the inflation that we’ve been hit with,” Manzie said.
Inflation hasn’t been this brisk since December 1981. Surging food and energy costs pushed the consumer price index up 8.6% in May, the Bureau of Labor Statistics said on Friday. Hoteliers are seeing these costs ripple through their businesses, from the food sold in hotel restaurants to the fuel that heats and cools buildings to the salaries paid to staff.
Manzie said he is in the process of rolling out contactless check-in and kiosks for food and beverage orders at some of the properties he manages. Since it is still a work-in-progress, he has yet to reap the benefits of lower labor costs.
“I can tell you that we budgeted the end of the year for some labor cost reductions, anticipating savings,” he said.
Accelerated timelines
When the pandemic struck in early 2020, most large hotel chains had already been deploying contactless options for their guests. But Covid accelerated the adoption and now it’s the cost of entry, industry consultants said.
According to Alex Alt, senior vice president and general manager at Oracle Hospitality, some hotels were looking to make these changes within a one-to-three-year time frame. After Covid struck, the road map was accelerated to one to three months in many cases, he said.
“As hotels saw a decrease in hotel staff and an increase in customer safety and health expectations, there was a strong need for hotels of all sizes to automate the hospitality experience by empowering guests to manage their stay largely from their mobile devices,” Alt said, in an email interview.
Nitat Termmee | Moment | Getty Images
One reason is guests expect it. In their survey, Oracle and Skift also polled 5,266 consumers, and the vast majority (73%) said they are more likely to stay at a hotel with self-service options.
The responses suggested guests want the ability to order room service from their phone or text to have more towels sent up to their rooms. They also want to seamlessly connect to their personal streaming or gaming accounts with the in-room television without having to remember their passwords.
Also, consumers want the ability to “unbundle” hotel offerings and only pay for the services they use during their stay, Alt said. They are even willing to pay more for personalized choices such as selecting an exact room or floor, he said, likening it to options consumers have in booking airline tickets.
In the Oracle survey, 40% of hoteliers said the unbundling model is the future of the industry.
“This is a step-change from the way hotels recognize revenue today, so they need a more modern [enterprise resource planning] ERP system to be able to adapt to these changes,” Alt said.
He declined to provide specific forecasts for future spending but said hotels are making significant investments throughout the business.
The trouble is that some hotel technology systems are antiquated, especially at independent hotels. In an article published in Hospitalitynet, New York University professor Max Starkov said the hospitality industry can often spend less than 2.5% of net room revenue on IT, including staff and benefits.
Darin Yug, PwC U.S. hospitality and gaming consulting leader, also has seen a greater focus on updating back-office systems.
“There hadn’t been a lot of attention paid to the back office,” he said, adding that companies were having to play a bit of catch-up. But even this investment is also being inspired in part by labor needs, he said.
“The quest for talent is not only for people cleaning your rooms and hotels, but also running finance operations and it’s getting more and more difficult,” Yug said. “By putting better technology, better tools in their hands, it’s really about upgrading … the experience for their employees.”
Scott Strickland, the chief information officer at Wyndham Hotels & Resorts, said the small business owners that franchise Wyndham hotel brands like Wingate, Ramada and Days Inn, have the benefit of using one of two standardized property management systems it offers.
“We made the foundational investment [to standardize], which puts us way ahead of our competitors,” Strickland said. It also means that some of services more commonly associated with high-end hotels are available to its more economy-priced hotels brands.
“For us to be be able to do it at the economy hotel and to roll that out at scale is something we’re very proud of,” Strickland said. He added that it means a bus full of kids coming back from a soccer tournament can arrive at a Super 8 hotel and use self-service check-in to speed their way to their rooms, which helps build loyalty.
Wyndham’s franchisees can also opt into its reservation system, which routes customers to a centralized call center to book a room. Wyndham said the 4,000 hotels that use the system see a 15% or higher premium on rates than non-participating hotels. Also, hotel operators are able to focus on the guests at their hotel or other duties like cleaning rooms, without a distraction, Strickland said.
Don’t forget to tip the housekeeper
Still, Wyndham is looking for new ways to use tech to ease the labor crunch. It is piloting a cashless tipping system where guests are able to tip the housekeeping staff by scanning a QR code in the room with a phone. So far, Wyndham has seen an increase in tipping, Strickland said.
Bene, the provider of the cashless tipping platform, has said its clients see an average increase in staff compensation of $4.50 an hour, and a 30% increase in monthly staff retention.
Zhihao | Moment | Getty Images
Strickland said the system makes it easier for guests, who often don’t carry cash, to be able to tip.
Many hotels are also considering chatbots, machine learning, artificial intelligence, facial recognition and other ways to run properties more efficiently and safely with less staff. These technologies are particularly helpful in handling more mundane requests, which then allows staff to focus on more meaningful one-on-one interactions, said Oracle’s Alt.
“These types of strategic technologies will be critical as the hospitality industry is still facing a labor shortage as we head into the busy summer travel season,” he said.
‘Flexy Time’ and road trip apps
Sharan Pasricha, the founder and co-CEO of lifestyle hospitality company Ennismore, said he has used technology as a key point of differentiation in his business.
“The hotel industry runs on a very archaic technology stack,” said Pasricha, who explained that many hotels are only now switching over their property management systems to the cloud.
Pasricha’s approach has been to have in-house software developers and product engineers who can create bespoke applications. One of his focus areas was improving the booking system, where he drew inspiration from features in the e-commerce industry, which he sees as more innovative than the hotel industry.
“I couldn’t quite understand why we would accept a very traditional, boring, badly designed … cookie-cutter [third-party] booking engine, when we care so much about our physical experiences and everything in our hotels is so thoughtful and authentic and creative,” he said.
His efforts led to more bookings coming directly to the website of Hoxton, one of Ennismore’s boutique hotel brands. About 50% are direct, Pasricha said.
It also made it possible for the company to create Flexy Time, a feature that allows its guests to check in or out of a room 24 hours a day, rather than having to wait for a standardized time. Pasricha said the offering, which comes with no extra charge, means guests don’t have to “bum around the lobby for five hours” after arriving in town on a red-eye flight.
Flexy Time presents more of a logistical and operational challenge, but it has helped Hoxton stand out among other hotel brands. To make sure rooms are ready, it asks guests when they will arrive and depart when they book.
“Having the ability to control the technology allows you to have these iterations and innovations, which has for us, garnered a lot of loyalty with our guests,” he said.
Ennismore is in the process of expanding Flexy Time to its 14-brand portfolio, which includes the Scottish hotel Gleneagles, So/ and Mama Shelter, among others. The company is a joint venture with Accor, the French hospitality brand that owns the Fairmont and Sofitel hotel brands, among others.
Wyndham also looks for ways to stand out with its investments. Two weeks ago, it launched a road trip planning feature on its app that recommends routes and allows users to customize a trip itinerary. Also, ahead are investments it will make in electric vehicle charging stations, including a reservation system to book plug-in time, Strickland said.
Mobile apps are great for companies that want to build loyalty with their customers. The data companies can harvest allows them to better tailor future services and offers.
Although it’s too soon to say what impact inflation will have on the industry, the pandemic forced “a new level of appreciation” for modern systems, according to Alt.
“While the pace of innovation may slow, hotels know there is no turning back on these new consumer demands and they must be able to adapt with the help of the right technology,” he said.
SALT LAKE CITY–(BUSINESS WIRE)–Jun 10, 2022–
A few short months after winning a 2022 NSCA Excellence in Product Innovation Award and 2022 Top New Technology (TNT) Award, ClearOne (NASDAQ: CLRO) today announced that its DIALOG 10, the industry’s only pro quality single-channel wireless USB microphone system, has won a Commercial Integrator 2022 BEST Award in the Microphones category. The winners were announced this week at InfoComm 2022, North America’s largest commercial AV industry trade show, in Las Vegas, NV.
ClearOne’s DIALOG 10 USB Wireless Mic System is honored with a Commercial Integrator 2022 BEST Award. (Graphic: Business Wire)
The 2022 Commercial Integrator BEST Awards showcase outstanding new products, solutions and services that can affect commercial integrators’ businesses. Hosted annually by industry leading publication Commercial Integrator, winners are chosen by a panel of industry experts, integrators and editors judging on innovation, functionality, competitive advantages and benefits to the installer.
“It’s an honor to be recognized by some of the most distinguished industry leaders for our innovation in the pro audio industry,” said Derek Graham, ClearOne interim Chief Executive Officer. “With the DIALOG 10, we’re thrilled to offer integrators the ideal solution for their customers that provides exceptional wireless audio and freedom of movement in any space up to 2,500 square feet.”
Offering plug-and-play simplicity and wireless convenience, DIALOG 10 USB is the perfect solution for webcasting and cloud-based collaboration through Microsoft Teams, Zoom, WebEx, GoToMeeting, and other apps. Setup is a breeze with the included USB Type C cable that connects to any PC for audio, power, and control with no external power source or additional audio cables required.
Additionally, ClearOne recently announced that the DIALOG 10 is now available as part of its Aura home office portfolio.
The microphone is ideal for a variety of settings including public events, live streaming, studio demonstrations, classroom presentations, personal events, desk-free conferences, and even backyard events.
ClearOne offers a complete range of microphones for these settings, with Handheld, Boundary, and Gooseneck, plus Lanyard, Headset, and Lavalier Beltpack options. The compact, plenum-rated receiver can be mounted on a desktop, credenza, under a table, behind a video display, or even hidden above a ceiling. Mounting has never been more flexible and easier.
It’s been an exciting few years of innovation at ClearOne. In addition to the DIALOG 10, the BMA 360 Beamforming Microphone Array has won six awards – ranging from 2021 SCN Product Installation Award to the 2022 Sound & Video Contractor Best in Market Award – and the Versa™ Mediabar™ all-in-one solution won a 2021 Residential Systems Best of Show Award.
More information about DIALOG 10 USB can be found here.
ClearOne is a global market leader enabling conferencing, collaboration, and network streaming solutions. The performance and simplicity of its advanced, comprehensive solutions offer unprecedented levels of functionality, reliability, and scalability. Visit ClearOne at www.clearone.com.
KEYWORD: UTAH UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: TECHNOLOGY AUDIO/VIDEO HARDWARE CONSUMER ELECTRONICS
Copyright Business Wire 2022.
PUB: 06/10/2022 09:10 AM/DISC: 06/10/2022 09:11 AM
Copyright Business Wire 2022.
SACRAMENTO, CA, UNITED STATES, June 6, 2022 /EINPresswire.com/ — Composite Technology International (CTI) has announced today that they have entered into definitive agreements with Brazilian manufacturer, Linea Paraná, for a long-term commercial partnership that is expected to accelerate growth for both companies in the millwork manufacturing category. Effective immediately, CTI will manage all sales and marketing of Linea’s production. The partnership strategically aligns both companies for the long-term by combining the strength of CTI’s systems, sales, and marketing with Linea’s dedicated focus and expertise in the South American millwork production market.
Linea Paraná has been a major supplier to CTI since 2020, when CTI opened their first wholly-owned manufacturing facility in Atlanta, GA. Together, CTI and Linea will collaborate on future product and manufacturing capabilities in Brazil as a concentrated effort to bring a unique global supply solution to their customer base.
“This commercial agreement is the natural next step between our two companies and we are excited to fast track new initiatives that we have identified together over the past two years of working together in other capacities. Our agreement enables us to focus on our core business, while leveraging the strength of CTI’s seasoned sales and marketing team, to expand our business,” Nelson Girardi, CEO of Linea Paraná.
“We are excited to evolve our existing partnership with Linea Paraná in Brazil. Linea has been an important part of our global manufacturing system since 2020, and this new partnership marks our first expansion into South America, further diversifying our global production that is already in place in North America and South East Asia. In a tumultuous era marked by the CAMP petition and global pandemic, we are thrilled to offer our customers a truly global supply solution” stated Griff Reid, President and CEO of CTI.
ABOUT COMPOSITE TECHNOLOGY INTERNATIONAL
CTI, headquartered in Sacramento, CA, is a global manufacturing company. With a “quality matters” focus, CTI designs, develops and delivers millwork products for building product manufacturers, distributors, and retailers. They create the integral components needed for finished products such as mouldings, frames, and jambs. For more information on CTI, please visit: www.cti-web.com.
ABOUT LINEA PARANÁ
Linea Paraná is located in the state of Paraná in the South of Brazil. It processes FSC pine wood with environmental certification and produces standard and customized decorative moldings for doors and windows, frames and structural beams. It exports its production to various international markets. Linea Paraná boasts a seasoned team, with three decades of experience, that has proven to overcome any challenge the industry may face. For more information on Linea Paraná, please visit: www.linea.com.br
Tony Casey
CTI
tcasey@cti-mail.com
NORCROSS, Ga.–(BUSINESS WIRE)–Jun 6, 2022–
Accenture (NYSE: ACN) has acquired Advocate Networks, LLC, a leading technology consultancy and managed services provider of Technology Business Management (TBM) solutions that help organizations create business value, achieve cost savings and modernize their technology platforms. Terms of the transaction were not disclosed.
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Accenture acquired Advocate Networks, technology consultancy and managed services provider of Technology Business Management solutions. (Photo: Business Wire)
Headquartered in Norcross, Georgia, Advocate’s team of more than 85 professionals is joining Accenture’s Technology Strategy & Advisory practice, bringing capabilities for helping clients define, architect and measure value from their digital and cloud transformations. Advocate has deep technology expertise and a full suite of services that help organizations align technology investments with business goals and uncover savings to reinvest in initiatives that drive growth and transformation.
“Organizations expect their technology investments to fuel innovation and transform business operations and are increasingly adopting TBM principles to optimize spend and deliver and demonstrate immediate strategic business value,” said Keith Boone, Accenture’s North America Technology Strategy & Advisory lead. “With the powerful combination of Accenture and Advocate, we will offer a multitude of industry-leading resources and capabilities to help our clients measure the value of technology initiatives in a clear, quantifiable manner.”
Advocate’s full suite of TBM services, from strategic advisory to TBM-as-a-service (TBMaaS), complement Accenture’s cloud and digital transformation services and end-to-end capabilities for TBM and FinOps. Advocate also brings accelerators for industry-leading tools and dashboards for IT value management and services that will enhance insights provided by Accenture’s proprietary assets, such as Accenture Momentum, myConcerto, myDiagnostic and myNav, with additional TBM analytics.
“For more than two decades, Advocate’s enterprise clients have relied on our dedicated team of TBM advisors, industry thought leaders and technology specialists to improve efficiency and uncover savings for new investments,” said Tim Wise, co-founder and co-CEO of Advocate. “We share Accenture Technology Strategy & Advisory’s purpose for helping clients architect and realize exceptional business value from technology and are excited to bring our combined capabilities to both new and existing customers.”
Accenture’s Technology Strategy & Advisory practice works with clients to define their technology visions and build the necessary roadmaps and execution plans to create sustainable value from technology investments.
About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Technology and Operations services and Accenture Song—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 699,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com.
Forward-Looking Statements
Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook” and similar expressions are used to identify these forward-looking statements. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. Many of the following risks, uncertainties and other factors identified below may be amplified by the invasion of Ukraine by Russia, the sanctions (including their duration), and other measures being imposed in response to this conflict, as well as any escalation or expansion of economic disruption or the conflict’s current scope. These risks include, without limitation, risks that: the transaction might not achieve the anticipated benefits for Accenture; Accenture’s results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and political conditions and the effects of these conditions on the company’s clients’ businesses and levels of business activity; Accenture faces legal, reputational and financial risks from any failure to protect client and/or company data from security incidents or cyberattacks; Accenture’s business depends on generating and maintaining ongoing, profitable client demand for the company’s services and solutions including through the adaptation and expansion of its services and solutions in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect the company’s results of operations; if Accenture is unable to match people and skills with client demand around the world and attract and retain professionals with strong leadership skills, the company’s business, the utilization rate of the company’s professionals and the company’s results of operations may be materially adversely affected; the COVID-19 pandemic has impacted Accenture’s business and operations, and the extent to which it will continue to do so and its impact on the company’s future financial results are uncertain; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; Accenture’s ability to attract and retain business and employees may depend on its reputation in the marketplace; if Accenture does not successfully manage and develop its relationships with key alliance partners or fails to anticipate and establish new alliances in new technologies, the company’s results of operations could be adversely affected; Accenture’s profitability could materially suffer if the company is unable to obtain favorable pricing for its services and solutions, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels; changes in Accenture’s level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company’s effective tax rate, results of operations, cash flows and financial condition; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; changes to accounting standards or in the estimates and assumptions Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; Accenture might be unable to access additional capital on favorable terms or at all and if the company raises equity capital, it may dilute its shareholders’ ownership interest in the company; as a result of Accenture’s geographically diverse operations and its growth strategy to continue to expand in its key markets around the world, the company is more susceptible to certain risks; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; Accenture’s business could be materially adversely affected if the company incurs legal liability; Accenture’s global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements; Accenture’s work with government clients exposes the company to additional risks inherent in the government contracting environment; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture’s services or solutions infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others, its business could be adversely affected; Accenture’s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; Accenture may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the “Risk Factors” heading in Accenture plc’s most recent Annual Report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture’s expectations.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20220602005179/en/
CONTACT: Maggie Nolan
Accenture
+1 917 852 3694
margaret.d.nolan@accenture.com
KEYWORD: UNITED STATES NORTH AMERICA GEORGIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY SOFTWARE CONSULTING NETWORKS
SOURCE: Accenture
Copyright Business Wire 2022.
PUB: 06/06/2022 01:10 PM/DISC: 06/06/2022 01:11 PM
The world of work is rapidly evolving, and so are the types of office spaces and experiences that people want.
Occupier expectations for secure, amenity-rich and seamless interactions in the workspace have accelerated the need for digital enablement and effective technology strategies in modern real estate.
Creating digitally enabled buildings and spaces often requires engaging with multiple technologies and vendors to achieve the desired outcomes. However, this can result in some level of complexity, especially when done at scale across a portfolio.
Utilizing multiple vendors can lead to disparate systems that can’t communicate, and the potential for increased vulnerability to security threats. Together, these problems can create headaches for building owners and occupiers alike.
“Curating seamless and successful customer experiences at scale with technology is hard when the solutions you have aren’t easily replicable. For example, it would be difficult to manage five or six different vendors across every single building you own or operate. It becomes an operational nightmare,” said James Shannon, chief product and technology officer for essensys, the intelligent digital backbone for commercial real estate.
From a security perspective, using multiple vendors can also leave you vulnerable to risks and breaches. “A security issue can have a compounding effect – a landlord’s security problem quickly becomes their tenants’ security problem, and likely a reputational problem as well. The impact is tenfold or more in a large building or portfolio,” said Shannon.
Ironically, the key to implementing complex technology infrastructure for digital enablement is simplicity – having the right foundation to provide an easy-to-scale system that can deliver the right technology to overcome complex challenges of modern real estate.
Shannon and essensys understand these challenges well. The essensys platform removes the complexity of managing in-building networks to deliver digitally enabled, multi-tenanted and scalable office environments for landlords and flexible space providers. It allows them to offer the highest level of enterprise-grade security certified to the strictest international standards, reduce complexity at scale, and meet evolving tenant needs.
According to Shannon, the first step in solving the issues associated with network complexity is automating the many traditional IT tasks using intelligent network automation. Automated processes simplify network management and monitoring and can drive greater data and analytics, faster move-in speeds, and an overall more compelling proposition for tenants.
“Intelligent network automation, unique to the essensys platform, can counter human error,” Shannon said. “When a tenant moves in with 200 employees, they could need a private network, booking systems and physical access, just to name a few of the digital services. The key is to automate those operational tasks. You don’t want to just rely on a human to create all those users and configure those networks because that doesn’t scale. That’s also where risk comes in.”
If, for example, a landlord has a tenant moving into a building on a certain date, he can input the tenant’s information along with the move-in date, and the essensys platform sets up their network, establishes security, and removes human error from the process completely, creating a seamless experience for tenants.
“For me, it’s about how the essensys platform simplifies the operational complexity,” said Shannon. “A lot of asset managers and landlords have not historically managed large IT teams as part of their roles. However, in today’s modern real estate landscape, they’re having to manage and deliver technology. Leveraging a platform like ours allows them to simplify a very complex area of their business.”
Enabling landlords to evolve with market dynamics such as flexibility and the flight to quality, and even helping to achieve sustainability targets, is why essensys serves as the intelligent digital backbone for so many commercial real estate companies, such as Industrious and Studio by Tishman Speyer.
The essensys platform revolves around the philosophy of
“connect, control and create.” The company’s global private network connects every location with secure enterprise-level connectivity. The unique intelligent network automation in the platform enables control of buildings and spaces, allowing customers to create future-ready real estate by simplifying the conversion of physical space into the digital world.
“We take a holistic approach to our customers’ portfolios,” said Shannon. “We connect their buildings and enable them to control the space and to create seamless experiences for their tenants. The key aspect that makes us unique is that we are providing a central point to automate control over systems, spaces and digital services.”
With these areas holistically handled, the simplicity, security and scalability of intelligent networks ensure that landlords can effectively and strategically digitally enable their portfolios, making their assets future-ready for their occupiers in today’s fast-evolving office sector.
Advanced single-use technology and automated equipment allow for decreasing risk of contamination
WuXi Biologics, a global contract research, development and manufacturing organisation (CRDMO) service company, has successfully launched the GMP operation of its new drug product facility DP5 located in Wuxi, China. The DP5 is the ninth operational drug product facility in the global network of WuXi Biologics.
The DP5 facility features an advanced isolator filling line for continuous and steady filling services, which offers multiple volume delivery options for pre-filled syringes (PFS), including 1 mL Long, 1 mL, 2.25 mL and 3 mL. The maximum filling speed can reach 400 PFS/min to support 17 million syringes of drug products manufacturing every year. The increased manufacturing capacity at DP5 allows WuXi Biologics to provide global partners with faster and more robust end-to-end drug product services for their innovative products at different scales and stages.
Compared to a traditional drug product filling line, DP5’s state-of-the-art design and layout, single-use technology and automated equipment, significantly decrease the risk of contamination and maintain aseptic control required in the filling process. This process supports clients’ products scale up to commercial capability and reliably delivers to patients under the highest quality standards which WuXi Biologics represents.