Companies are releasing regular updates to assure its employees and investors on its all business operations in order to counter any misinformation amid the current Covid-19 pandemic. Recently, Tata Steel released its update on India and European business operations. Now, Majesco has released its update related to business operations and other developments that took place in the company during the coronavirus crisis.
In its press statement, Majesco said: “ Majesco announced a business update to bring investors up to speed on the measures the Company is taking to deal with the COVID-19 crisis and our business outlook at large. The COVID-19 pandemic is rapidly evolving and having a material impact on how many businesses are operating.”
“Majesco’s Leadership Team continues to actively monitor the situation to minimize any impact on its employees, customer projects, service and support,” it added.
Speaking on Majesco business continuity, the company said, “Majesco has taken immediate action and the majority of employees have been working remotely since March 16th. Over the last two weeks we have kept all business operations functioning normally. We have adopted best practices for working virtually with our customers to ensure projects continue to move forward. As a leadership team we are monitoring both the situation and operations daily to keep things running smoothly. Furthermore, the account managers continue to work with customers on joint business continuity plans so that we can adapt together as the COVID-19 situation evolves. As additional support is needed, we have added or shifted workloads with internal or partner resources to ensure our continued focus and commitment to projects and services.”
Commenting on the company’s financial status, Majesco assures that the company has sufficient resources to get through this crisis smoothly. “We remain confident of our long term go to market strategy. Our cashflows remain positive and we continue to monitor our overall cash position and expenses regularly.”
Recently, Majesco announced the completion of the acquisition of InsPro Technologies Corporation (ITCC). “The acquisition complements the investments we have been making in our L&A and Group business. Our solid performance and financial position allows us to continue to partner with companies to accelerate and enable their cloud journey and business transformation initiatives. We understand that these are tough times and we fervently hope that the crisis resolves at the earliest. We hope and pray for the wellbeing of our associates, clients and shareholders,” it said in a press release.
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