Welcome!

News Feed Item

Brink's To Report Venezuela Results at SICAD II Exchange Rate

RICHMOND, Va., April 14, 2014 /PRNewswire/ -- The Brink's Company (NYSE: BCO) announced today that it will no longer use Venezuela's official exchange rate of 6.3 bolivars per U.S. dollar and has adopted the government's SICAD II floating rate of approximately 50 bolivars per U.S. dollar, which took effect on March 24.  

As a result of the devaluation, Brink's expects to incur a first-quarter remeasurement charge related to the write down of substantially all of its bolivar-denominated net monetary assets.  At December 31, 2013, bolivar-denominated net monetary assets totaled $120 million.

Tom Schievelbein, chairman, president and chief executive officer, said: "Brink's has been operating in Venezuela for more than 40 years, through numerous economic cycles.  We remain committed to this business, which is extremely well-managed by our local team and has demonstrated strong operational and financial performance."          

For comparative purposes, Brink's provided hypothetical 2013 quarterly and full-year non-GAAP results, adjusted to reflect the devaluation (pages 4-7).  Applying the current SICAD II rate, the $447 million of 2013 revenue from Venezuela operations would have declined 88% to approximately $56 million, which is consistent with the company's disclosure in its 2013 annual report on Form 10-K that a substantial devaluation could reduce revenue by $400 million.  In 2013, non-GAAP net income from continuing operations would have been $1.55 per share, a decrease of $.82 from reported earnings of $2.37 per share ($1.47 on a GAAP basis), which is consistent with previous disclosure that Venezuela operations represented a significant component of the company's operating profit.  Brink's also indicated in previous disclosures that a devaluation would put at risk the company's bolivar-denominated cash and cash equivalents, which totaled $94 million on December 31, 2013.  Applying the current SICAD II rate, these assets would have been valued at $12 million as of December 31, 2013.    

1

Brink's is scheduled to report its first-quarter 2014 earnings on April 24.  First-quarter GAAP and non-GAAP earnings will include results from Venezuela for January 1 through March 23 at the official rate (6.3), with the balance of March results reported at the SICAD II rate (approximately 50).  For comparative purposes, the company also will provide first-quarter results with Venezuela results translated at the SICAD II rate for the entire period and additional information, including an update to its full-year guidance.     

Brink's had been reporting its Venezuela results at the official exchange rate (6.3) but, as disclosed in its 2013 annual report on Form 10-K, was unable to convert bolivars at this rate.  In 2013, the Venezuelan government introduced a new exchange rate mechanism, known as SICAD, which enables some companies to convert currency for certain transactions at a rate of approximately 11 bolivars per U.S. dollar.  On March 24, the newly created SICAD II exchange mechanism became available and is the only rate at which Brink's has been able to successfully exchange its bolivars for U.S. dollars.  Since Brink's is eligible and has been able to obtain U.S. dollars at the SICAD II rate (approximately 50), and is not eligible to apply for exchange at the official rate (6.3), and does not expect to be able to access the SICAD rate (11), it is adopting the SICAD II rate for reporting Venezuela results. 

Non-GAAP and Adjusted Non-GAAP Results
Non-GAAP and Adjusted Non-GAAP results described in this press release are financial measures that are not required by or presented in accordance with U.S. generally accepted accounting principles ("GAAP").  The purpose of the Non-GAAP results is to report financial information without certain income and expense items and adjust the quarterly Non-GAAP tax rates so that the Non-GAAP tax rate in each of the quarters is equal to the full-year non-GAAP tax rate.  The full year Non-GAAP tax rate in both years excludes certain pretax and tax income and expense amounts.  The purpose of Adjusted Non-GAAP results is to report historical Non-GAAP financial information assuming that our Venezuelan operations had been remeasured using a rate of 50 bolivars to the U.S. dollar.

The Non-GAAP and Adjusted Non-GAAP information provides information to assist comparability and estimates of future performance.  Brink's believes these measures are helpful in assessing operations and estimating future results and enable period-to-period comparability of financial performance.  In addition, Brink's believes the measures will help investors assess the ongoing operations.  Non-GAAP and Adjusted Non-GAAP results should not be considered as an alternative to revenue, income or earnings per share amounts determined in accordance with GAAP and should be read in conjunction with their GAAP counterparts.

Forward-Looking Statements
This release contains both historical and forward-looking information. Words such as "anticipates," "assumes," "estimates," "expects," "projects," "predicts," "intends," "plans," "believes," "potential," "may," "should" and similar expressions may identify forward-looking information. Forward-looking information in this release includes, but is not limited to an expected first quarter charge related to a devaluation in Venezuela and future access to exchange mechanisms in Venezuela. Forward-looking information in this document is subject to known and unknown risks, uncertainties and contingencies, which are difficult to predict or quantify, and which could cause actual results, performance or achievements to differ materially from those that are anticipated.

These risks, uncertainties and contingencies, many of which are beyond our control, include, but are not limited to:

  • risks customarily associated with operating in foreign countries including changing labor and economic conditions, currency devaluations, safety and security issues, political instability, restrictions on repatriation of earnings and capital, nationalization, expropriation and other forms of restrictive government actions,
  • the strength of the U.S. dollar relative to foreign currencies and foreign currency exchange rates,
  • the stability of the Venezuelan economy, changes in Venezuelan policy regarding foreign-owned businesses,
  • changes in currency restrictions and in foreign exchange rates,
  • fluctuations in value of the Venezuelan bolivar,
  • changes in estimates and assumptions underlying our critical accounting policies, and
  • the promulgation and adoption of new accounting standards and interpretations, new government regulations and interpretations of existing regulations.

This list of risks, uncertainties and contingencies is not intended to be exhaustive. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found under "Risk Factors" in Item 1A of our Annual Report on Form 10-K for the period ended December 31, 2013, and in our other public filings with the Securities and Exchange Commission. The forward-looking information included in this document is representative only as of the date of this document and The Brink's Company undertakes no obligation to update any information contained in this document.

2



The Brink's Company and subsidiaries
GAAP and Non-GAAP Results as Previously Reported (Unaudited)
(In millions, except for per share amounts)






2013



1Q


2Q


3Q


4Q


Full Year

















GAAP Basis

Revenues:












Latin America

$

412.9


413.6


423.8


470.4


1,720.7


EMEA


277.8


293.4


301.2


305.9


1,178.3


North America


223.2


226.3


222.5


226.4


898.4


Asia Pacific


36.6


36.6


34.9


36.7


144.8



Revenues

$

950.5


969.9


982.4


1,039.4


3,942.2














Operating profit:












Latin America

$

23.4


24.4


42.8


59.3


149.9


EMEA


8.6


18.7


32.1


22.1


81.5


North America


(2.0)


6.3


0.2


0.2


4.7


Asia Pacific


4.3


5.0


4.8


2.6


16.7



Segment operating profit


34.3


54.4


79.9


84.2


252.8


Non-segment


(17.0)


(21.6)


(20.7)


(21.8)


(81.1)



Operating profit

$

17.3


32.8


59.2


62.4


171.7














Amounts attributable to Brink's:











Income from continuing operations

$

2.9


13.2


29.8


26.0


71.9

Diluted EPS – continuing operations


0.06


0.27


0.61


0.53


1.47

















Non-GAAP Basis

Revenues:












Latin America

$

412.9


413.6


423.8


470.4


1,720.7


EMEA


277.8


293.4


301.2


305.9


1,178.3


North America


223.2


226.3


222.5


226.4


898.4


Asia Pacific


36.6


36.6


34.9


36.7


144.8



Revenues

$

950.5


969.9


982.4


1,039.4


3,942.2














Operating profit:












Latin America

$

37.1


24.9


43.6


62.4


168.0


EMEA


8.6


18.7


32.1


22.1


81.5


North America


0.9


9.2


3.1


3.1


16.3


Asia Pacific


4.3


5.0


4.8


3.5


17.6



Segment operating profit


50.9


57.8


83.6


91.1


283.4


Non-segment


(7.6)


(11.4)


(11.3)


(12.3)


(42.6)



Operating profit

$

43.3


46.4


72.3


78.8


240.8














Amounts attributable to Brink's:











Income from continuing operations

$

18.7


22.8


35.4


39.0


115.9

Diluted EPS – continuing operations


0.38


0.47


0.72


0.79


2.37


Amounts may not add due to rounding.  Non-GAAP results are reconciled to applicable GAAP results on pages 5-7.


The Brink's Company and subsidiaries
Non-GAAP Results Adjusted for Venezuelan Results at 50 Bolivars per U.S. Dollar (Unaudited)
(In millions, except for per share amounts)






2013



1Q


2Q


3Q


4Q


Full Year

















Non-GAAP Results Adjusted for Venezuelan Results at 50 Bolivars per U.S. Dollar

Revenues:












Latin America

$

328.4


329.7


323.7


347.4


1,329.2


EMEA


277.8


293.4


301.2


305.9


1,178.3


North America


223.2


226.3


222.5


226.4


898.4


Asia Pacific


36.6


36.6


34.9


36.7


144.8



Revenues

$

866.0


886.0


882.3


916.4


3,550.7














Operating profit:












Latin America

$

17.6


14.8


21.7


39.1


93.2


EMEA


8.6


18.7


32.1


22.1


81.5


North America


0.9


9.2


3.1


3.1


16.3


Asia Pacific


4.3


5.0


4.8


3.5


17.6



Segment operating profit


31.4


47.7


61.7


67.8


208.6


Non-segment


(7.6)


(11.4)


(11.3)


(12.3)


(42.6)



Operating profit

$

23.8


36.3


50.4


55.5


166.0














Amounts attributable to Brink's:











Income from continuing operations

$

9.2


16.1


22.8


27.8


75.9

Diluted EPS – continuing operations


0.19


0.33


0.46


0.57


1.55


Amounts may not add due to rounding.  Non-GAAP Results Adjusted for Venezuelan Results at 50 bolivars per U.S. dollar are reconciled to applicable GAAP results on pages 5 – 7.


The Brink's Company and subsidiaries
Non-GAAP and Adjusted Non-GAAP(g) Results Reconciled to GAAP (Unaudited)
(In millions, except for per share amounts)




GAAP
Basis


Gains and
Losses on
Acquisitions
and
Dispositions

(a)


Net Monetary
Asset Re-
measurement
Losses in
Venezuela

(b)


Employee
Benefit
Settlement
Losses

 (c)


U.S.
Retirement
Plans

(d)


Adjust
Income
Tax Rate

(e)


Non-
GAAP
Basis


Adjust
Venezuela
to 50
Bolivars to the U.S.
Dollar

(f)


Adjusted
Non-
GAAP
Basis

(g)

























First Quarter 2013

Revenues:




















Latin America

$

412.9


-


-


-


-


-


412.9


(84.5)


328.4


EMEA


277.8


-


-


-


-


-


277.8


-


277.8


North America


223.2


-


-


-


-


-


223.2


-


223.2


Asia Pacific


36.6


-


-


-


-


-


36.6


-


36.6



Revenues

$

950.5


-


-


-


-


-


950.5


(84.5)


866.0






















Operating profit:




















Latin America

$

23.4


-


13.4


0.3


-


-


37.1


(19.5)


17.6


EMEA


8.6


-


-


-


-


-


8.6


-


8.6


North America


(2.0)


-


-


-


2.9


-


0.9


-


0.9


Asia Pacific


4.3


-


-


-


-


-


4.3


-


4.3



Segment operating profit


34.3


-


13.4


0.3


2.9


-


50.9


(19.5)


31.4


Non-segment


(17.0)


(1.1)


-


-


10.5


-


(7.6)


-


(7.6)



Operating profit

$

17.3


(1.1)


13.4


0.3


13.4


-


43.3


(19.5)


23.8






















Amounts attributable to Brink's:



















Income from continuing operations

$

2.9


(1.1)


8.4


0.2


8.2


0.1


18.7


(9.5)


9.2

Diluted EPS – continuing operations


0.06


(0.02)


0.17


-


0.17


-


0.38


(0.19)


0.19










Second Quarter 2013

Revenues:




















Latin America

$

413.6


-


-


-


-


-


413.6


(83.9)


329.7


EMEA


293.4


-


-


-


-


-


293.4


-


293.4


North America


226.3


-


-


-


-


-


226.3


-


226.3


Asia Pacific


36.6


-


-


-


-


-


36.6


-


36.6



Revenues

$

969.9


-


-


-


-


-


969.9


(83.9)


886.0






















Operating profit:




















Latin America

$

24.4


-


-


0.5


-


-


24.9


(10.1)


14.8


EMEA


18.7


-


-


-


-


-


18.7


-


18.7


North America


6.3


-


-


-


2.9


-


9.2


-


9.2


Asia Pacific


5.0


-


-


-


-


-


5.0


-


5.0



Segment operating profit


54.4


-


-


0.5


2.9


-


57.8


(10.1)


47.7


Non-segment


(21.6)


-


-


-


10.2


-


(11.4)


-


(11.4)



Operating profit

$

32.8


-


-


0.5


13.1


-


46.4


(10.1)


36.3






















Amounts attributable to Brink's:



















Income from continuing operations

$

13.2


-


-


0.4


7.7


1.5


22.8


(6.7)


16.1

Diluted EPS – continuing operations


0.27


-


-


0.01


0.16


0.03


0.47


(0.14)


0.33


See page 7 for notes.

5


The Brink's Company and subsidiaries
Non-GAAP and Adjusted Non-GAAP(g) Results Reconciled to GAAP (Unaudited)
(In millions, except for per share amounts)




GAAP
Basis


Gains and
Losses on
Acquisitions
and
Dispositions

(a)


Net Monetary
Asset Re-
measurement
Losses in
Venezuela

(b)


Employee
Benefit
Settlement
Losses

 (c)


U.S.
Retirement
Plans

(d)


Adjust
Income
Tax
Rate

(e)


Non-
GAAP
Basis


Adjust
Venezuela
to 50
Bolivars to
the U.S.
Dollar

(f)


Adjusted
Non-
GAAP
Basis

(g)



























Third Quarter 2013


Revenues:





















Latin America

$

423.8


-


-


-


-


-


423.8


(100.1)


323.7



EMEA


301.2


-


-


-


-


-


301.2


-


301.2



North America


222.5


-


-


-


-


-


222.5


-


222.5



Asia Pacific


34.9


-


-


-


-


-


34.9


-


34.9




Revenues

$

982.4


-


-


-


-


-


982.4


(100.1)


882.3
























Operating profit:





















Latin America

$

42.8


-


-


0.8


-


-


43.6


(21.9)


21.7



EMEA


32.1


-


-


-


-


-


32.1


-


32.1



North America


0.2


-


-


-


2.9


-


3.1


-


3.1



Asia Pacific


4.8


-


-


-


-


-


4.8


-


4.8




Segment operating profit


79.9


-


-


0.8


2.9


-


83.6


(21.9)


61.7



Non-segment


(20.7)


(0.9)


-


-


10.3


-


(11.3)


-


(11.3)




Operating profit

$

59.2


(0.9)


-


0.8


13.2


-


72.3


(21.9)


50.4
























Amounts attributable to Brink's:




















Income from continuing operations

$

29.8


(0.9)


-


0.6


7.7


(1.8)


35.4


(12.6)


22.8


Diluted EPS – continuing operations


0.61


(0.02)


-


0.01


0.16


(0.04)


0.72


(0.26)


0.46

















































Fourth Quarter 2013


Revenues:





















Latin America

$

470.4


-


-


-


-


-


470.4


(123.0)


347.4



EMEA


305.9


-


-


-


-


-


305.9


-


305.9



North America


226.4


-


-


-


-


-


226.4


-


226.4



Asia Pacific


36.7


-


-


-


-


-


36.7


-


36.7




Revenues

$

1,039.4


-


-


-


-


-


1,039.4


(123.0)


916.4
























Operating profit:





















Latin America

$

59.3


2.2


-


0.9


-


-


62.4


(23.3)


39.1



EMEA


22.1


-


-


-


-


-


22.1


-


22.1



North America


0.2


-


-


-


2.9


-


3.1


-


3.1



Asia Pacific


2.6


0.9


-


-


-


-


3.5


-


3.5




Segment operating profit


84.2


3.1


-


0.9


2.9


-


91.1


(23.3)


67.8



Non-segment


(21.8)


(0.8)


-


-


10.3


-


(12.3)


-


(12.3)




Operating profit

$

62.4


2.3


-


0.9


13.2


-


78.8


(23.3)


55.5
























Amounts attributable to Brink's:




















Income from continuing operations

$

26.0


4.0


-


0.6


8.2


0.2


39.0


(11.2)


27.8


Diluted EPS – continuing operations


0.53


0.08


-


0.01


0.17


-


0.79


(0.23)


0.57



See page 7 for notes.

The Brink's Company and subsidiaries
Non-GAAP and Adjusted Non-GAAP(g) Results Reconciled to GAAP (Unaudited)
(In millions, except for per share amounts)




GAAP
Basis


Gains and
Losses on
Acquisitions
and
Dispositions

(a)


Net Monetary
Asset Re-
measurement
Losses in
Venezuela

(b)


Employee
Benefit
Settlement
Losses

(c)


U.S.
Retirement
Plans

(d)


Adjust
Income
Tax
Rate

(e)


Non-
GAAP
Basis


Adjust
Venezuela
to 50
Bolivars to
the U.S.
Dollar

(f)


Adjusted
Non-
GAAP
Basis

(g)

























Full Year 2013

Revenues:




















Latin America

$

1,720.7


-


-


-


-


-


1,720.7


(391.5)


1,329.2


EMEA


1,178.3


-


-


-


-


-


1,178.3


-


1,178.3


North America


898.4


-


-


-


-


-


898.4


-


898.4


Asia Pacific


144.8


-


-


-


-


-


144.8


-


144.8



Revenues

$

3,942.2


-


-


-


-


-


3,942.2


(391.5)


3,550.7






















Operating profit:




















Latin America

$

149.9


2.2


13.4


2.5


-


-


168.0


(74.8)


93.2


EMEA


81.5


-


-


-


-


-


81.5


-


81.5


North America


4.7


-


-


-


11.6


-


16.3


-


16.3


Asia Pacific


16.7


0.9


-


-


-


-


17.6


-


17.6



Segment operating profit


252.8


3.1


13.4


2.5


11.6


-


283.4


(74.8)


208.6


Non-segment


(81.1)


(2.8)


-


-


41.3


-


(42.6)


-


(42.6)



Operating profit

$

171.7


0.3


13.4


2.5


52.9


-


240.8


(74.8)


166.0






















Amounts attributable to Brink's:



















Income from continuing operations

$

71.9


2.0


8.4


1.8


31.8


-


115.9


(40.0)


75.9

Diluted EPS – continuing operations


1.47


0.04


0.17


0.04


0.65


-


2.37


(0.82)


1.55



(a)   

To eliminate:


  • a $1.1 million adjustment in the first quarter of 2013 to the amount of gain recognized on a 2010 business acquisition in Mexico as a result of a favorable adjustment to the purchase price received in the first quarter of 2013.
  •  $1.7 million of adjustments in the third and fourth quarters of 2013 primarily related to the January 2013 acquisition of Rede Trel in Brazil.
  • $3.1 million in adjustments in the fourth quarter of 2013 related to the increase in a loss contingency assumed in the 2010 Mexico acquisition and the impairment of an intangible asset acquired in the 2009 India acquisition.
  • a $2.6 million tax adjustment related to the Belgium disposition.



(b)   

To eliminate currency exchange losses related to a 16% devaluation of the official exchange rate in Venezuela from 5.3 to 6.3 bolivars to the U.S. dollar in February 2013.

(c)  

To eliminate employee benefit settlement losses in Mexico. 

(d)  

To eliminate expenses related to U.S. retirement plans.

(e)  

To adjust effective income tax rate in the interim period to be equal to the full-year non-GAAP effective income tax rate.  The full-year non-GAAP effective tax rate for 2013 is 33.3%.

(f)  

Effective March 24, 2014, Brink's began remeasuring its Venezuelan operating results using currency exchange rates reported under a newly established currency exchange process in Venezuela (the "SICAD II process").  The rate published for this process averaged 51 for the last 7 days in March 2014 and 50 at March 31, 2014. This adjustment reflects a hypothetical remeasurement of Brink's Venezuela's 2013 revenue and operating results using a rate of 50 bolivars to the U.S. dollar, which approximates the rate observed in the new SICAD II currency exchange process in March 2014.  Losses that would have been recognized in 2013 had Brink's used a rate of 50 bolivars to the U.S. dollar to remeasure its net monetary assets have been excluded from this adjustment and the Adjusted Non-GAAP results.

(g)  

Non-GAAP results adjusted for Venezuelan results at 50 bolivars per U.S. dollar.


Amounts may not add due to rounding.

 

7

Contact:
Investor Relations
804.289.9709

SOURCE The Brink's Company

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
With more than 30 Kubernetes solutions in the marketplace, it's tempting to think Kubernetes and the vendor ecosystem has solved the problem of operationalizing containers at scale or of automatically managing the elasticity of the underlying infrastructure that these solutions need to be truly scalable. Far from it. There are at least six major pain points that companies experience when they try to deploy and run Kubernetes in their complex environments. In this presentation, the speaker will d...
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
When building large, cloud-based applications that operate at a high scale, it's important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. "Fly two mistakes high" is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Le...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
As Cybric's Chief Technology Officer, Mike D. Kail is responsible for the strategic vision and technical direction of the platform. Prior to founding Cybric, Mike was Yahoo's CIO and SVP of Infrastructure, where he led the IT and Data Center functions for the company. He has more than 24 years of IT Operations experience with a focus on highly-scalable architectures.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
CI/CD is conceptually straightforward, yet often technically intricate to implement since it requires time and opportunities to develop intimate understanding on not only DevOps processes and operations, but likely product integrations with multiple platforms. This session intends to bridge the gap by offering an intense learning experience while witnessing the processes and operations to build from zero to a simple, yet functional CI/CD pipeline integrated with Jenkins, Github, Docker and Azure...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Dhiraj Sehgal works in Delphix's product and solution organization. His focus has been DevOps, DataOps, private cloud and datacenters customers, technologies and products. He has wealth of experience in cloud focused and virtualized technologies ranging from compute, networking to storage. He has spoken at Cloud Expo for last 3 years now in New York and Santa Clara.
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.