Quarterly Performance Announcement Template
Team,
We are pleased to announce the QP payout for Q2, 20XX-XX. It has been an excellent quarter from growth perspective. We grew close to 10% Q-O-Q on revenue basis and over-achieved our revenue plan and added some billable headcount to our base. We continued to maintain high utilization of XX%.We have very good pipeline of opportunities and good traction in all vertical markets. As we will add more number of fresh graduates in this quarter, we must focus on keeping our utilization high.
BU Highlights :
Quality & Process Highlights for ECS:
· First ECS level Management review was conducted after restructuring of the vertical covering TMs and above connecting across locations.
· First Surveillance Automotive SPICE assessment was conducted in SepXX. Continuation of certification was recommended.
· Second Annual Surveillance audit for ISO 13485 standard was conducted in July for Medical Devices group. Continuation of certification was recommended.
· Two Six Sigma projects: HP-TSG KM projects of CSG and Toshiba's Chang Jiang project got Best project award from corporate Mission Quality competition held across Business units of WT.
· SUN GSSIE project team of CSG has got Excellency award from SUN Microsystems.
· Isolated Quality System catering to the requirement of ISO 13485 standard was released in corporate portal Similarly process for EN 50128 safety standard for Transport signaling has been released in corporate portal.
Computing and Storage group Highlights:
We had a good growth in Q2 with several new accounts and new project wins in existing accounts.
· Good growth in Microsoft, HP-TSG, EMC Services groups
· We opened new business with the following accounts:
o TeleAtlas – Belgium
o nCipher – UK
o Cisco-Webex – US based Teleconference company
· We also started new projects with
o March Networks – Canada
o Intel – with whom we started a Graphics driver related project
o Several new projects started in HP TSG from ISS and OpenView teams
o Several new projects in Microsoft - SaaS , BizTalk Adapter Sustenance, MSN Money, PSA consultancy work, VBA 64 bit porting, MSN Cinema
· Employee Welfare Week – we had Employee Welfare week in Bangalore , Hyderabad
· The BU awards were also awarded this quarter. With the goal of encouraging more people to come up with innovative ideas, special awards were given to 2 people each from NCR & HP-TSG accounts for Innovation disclosures.
· The Symantec NSW business model won the Innovative Thinking award for business innovation
Peripherals Group: Toshiba ODC continues to be the flagship account for peripherals and achieving excellence in delivery operations and people development.
Peripherals group added new projects across Toshiba, LINX, KODAK & RICOH exceeding the revenue plan.
Medical Devices group: The group overachieved revenue plan. Medical devices group won two new customers and few programs from existing customers.
· SendX - part of Radiometer – (Danaher Group)
· Omron – ECG Application development & Reverse Engineering.
· Smiths Atlanta
Many end-to-end product development projects involving competencies from Hardware, Mechanical and regulatory practice have been kicked off in the group. The Arora program for Guidant’s CRM division received customer commendation for completing the component qualification efficiently and meeting schedules. One of the large end-to-end development programs got ramped down resulting in immediate utilization challenges .
HP-IPG ODC Highlights:
- Exceeded revenue plan and contributed significantly to BU’s growth. Displayed leadership in many of the operational parameters including utilization.
- Delivered Lono program ontime, the first FPP project successfully
- Firmware Asian IME field research group is getting rave reviews
- Completed the MOMBI EVO Fall program successfully
- 2 Patents were awarded and 4 more invention disclosures have been filed
- Test Automation in MOMBI Laser helped to save significant execution time and allowing greater testing scope within the same schedule. This was well appreciated by HP
- Successful completion of MOMBI CPE Vista Roll: About 52 products and 143 drivers delivered as part of the mega-Vista roll (largest of it’s kind in the past 2 years).
- Very good onsite growth in RPS projects in
Industrial Automation & control (IAC) Group : Revenue achievement exceeded that of plan. The March Networks engagement has expanded into multiple programs and is poised to be a good sized ODC.
- Won the NIDEC READ account
- Revival in Airbus account
- Good build up in Danaher and
- New projects in Test Automation won in
Automotive Electronics Group:
New Wins
· VCP project from Delphi , US : We won a complex project from XXXX , US
· Quality Consulting project in XXX, Europe : We have won a prestigious quality consulting assignment from JCI Europe. The Company team will be assisting the JCI teams in France, Germany and Bulgaria in implementation of Automotive SPICE and CMMi quality system and prepare them for Level 3 certification by end of Q1 08.
We also had good growth in existing accounts like Magenti Marelli, Siemens VDO, XANAVI, PASA and CNH with several new projects and programs being allocated to Company. The new Power Train Practice has started gathering momentum through new project wins.
Aerospace & Defense: The ODC for BAE Systems was formally inaugurated by
senior management team of BAE. They also participated in capability presentation sessions and program reviews. We have started executing many projects involving multiple service lines of TPE in the ODC. We continue to engage top companies in the A&D sector both in US and in Europe and in several cases chosen as their offset and design services partner.
QP – Q2
You would be aware that with effect from April 1, 20XX we have added measures of Billability (to drive individual share towards revenue) and Operational Efficiency Index (measured through Average Cost to drive team to achieve operational efficiency) in QP. While Billability linkage is applicable for mid level and below employees ,the Operational Efficiency Index is applicable for senior and above. The above measures of QP are in addition to the linkage to Business Unit profitability (PBIT). Operational efficiency index for Q2 is measured at a vertical level.
We are pleased to announce the QP payout for the Business Unit profitability linkage for the quarter. The payout % on Billability or Operational efficiency index, applicable to you, will be communicated to you in your monthly pay-slipfor the month of OCT 20XX.
The PBIT achievement level is as follows -
QP Unit | PBIT Achievement over Plan |
XX% |
For an employee to clarify their status on billability-please visit the My Personal Info Page (MPI) under My Day at Work section in HR.Your QP will be paid along with this month’s salary.
In case an employee shifts from one SBU / Vertical / Practice to another during the quarter, QP will be calculated on the SBU / Vertical / Practice in which the employee spent the most time. This specific data for the quarter will be based on SAP data. You can check your assignment as per SAP on real time basis in The MY ASSIGNMENT section under MY DATA in HR.
For further details on the policy, request you to refer to the link: HR
Best Wishes,
Business Unit Head , Embedded Storage and FS Solutions