Hackett Group Inc (The). - HCKT STOCK NEWS

The Hackett Group's European Working Capital Survey reveals a €1.3 trillion opportunity in untapped working capital for European companies. Key metrics show mixed performance: Days inventory outstanding worsened by 5% to 66 days, days sales outstanding improved slightly by 0.2% to 47 days, and days payables outstanding increased by 2% to 70 days. The cash conversion cycle deteriorated by 4% to 44 days.

Companies face challenges with high interest rates and economic uncertainties, reflected in declining operational metrics: cash to current liability ratio dropped from 0.31 to 0.28, while total debt increased from 40% to 43% of revenue. The survey highlights Generative AI as a important technology for optimizing working capital management through improved cash flow forecasting and inventory optimization.

The Hackett Group (NASDAQ: HCKT), bp, and Thought Industries have received recognition from Brandon Hall Group for bp's employee learning certification program. The program, launched in 2022 for bp's global business services (GBS) division, combines bp's learning methodology with The Hackett Institute's Certified GBS Professionals programs.

The program has shown impressive results: 62% Net Promoter Score, 93% completion rate within four months, 30% higher promotion rates for graduates, and lower attrition rates. Over 5,000 employees in bp's GBS organization across Hungary, India, and Malaysia benefit from this modular, online learning platform with live training sessions.

The Hackett Group (NASDAQ: HCKT) reported strong Q3 2024 financial results, with total revenue reaching $79.8 million and revenue before reimbursements of $77.9 million, exceeding guidance. GAAP diluted EPS was $0.31, compared to $0.34 in Q3 2023, while adjusted diluted EPS increased to $0.43 from $0.41 year-over-year. The company announced the release of AI XPLR version 2 and the acquisition of LeewayHertz. The Board approved an additional $20.0 million share repurchase authorization and declared a Q4 dividend of $0.11 per share.

The Hackett Group's latest research reveals that Digital World Class® finance organizations are operating at 47% lower costs with 50% fewer full-time equivalent (FTE) staff compared to their peers. These organizations demonstrate superior value beyond cost savings, with 64% fewer FTEs in transactional roles, 32% fewer in financial planning and analysis, and 29% fewer in specialist finance roles.

Digital World Class® finance organizations are uniquely positioned to leverage generative artificial intelligence (Gen AI) for faster transformation and innovation. They close and consolidate financials 36% faster, complete forecasts five days sooner, and dedicate 82% more time to higher-value activities. This efficiency allows them to extract maximum value from AI and extend their market advantage.

The Hackett Group (NASDAQ: HCKT) has announced its upcoming third quarter 2024 earnings release and conference call. The company will release financial results for the quarter ended September 27, 2024, on Monday, November 4, 2024, after market close. A conference call with senior management will follow at 5:00 P.M. ET to discuss the results.

Investors can join the call using the number (800) 593-0486 (Passcode: Third Quarter), with an international line available at (517) 308-9371. A rebroadcast will be available from 8:00 P.M. ET on November 4 until 5:00 P.M. ET on November 18, 2024. The call will also be webcast live on the company's website. An online replay will be accessible after the call through November 18, 2024.

The Hackett Group (NASDAQ: HCKT) has unveiled its AI XPLR™ 2.0 platform at Gen AI Breakthrough Conferences in London and Atlanta. This next-generation AI platform introduces groundbreaking features to transform how businesses leverage Gen AI for strategic impact. Key features include:

• Enterprise-wide Gen AI opportunity simulation
• Embedded AI Applications Discovery in existing software
• Expanded AI Use Case Library
• ROI Analyzer for quantifying AI initiative benefits
• Dynamic Taxonomy Capability for industry-specific customization
• Proof-of-Concept Requirements Generator

The launch events in London (October 9-10) and Atlanta (October 13) will showcase live demonstrations and explore real-world applications of AI XPLR 2.0. The Hackett Group aims to position itself at the forefront of the Gen AI revolution, empowering organizations to unlock value at scale.

The Hackett Group's latest research reveals that Digital World Class® procurement organizations are poised for significant gains with the adoption of generative AI (Gen AI). These top-performing organizations can expect a 54% increase in staff productivity and a 47% reduction in process costs. Despite industry-wide cost escalations, Digital World Class® procurement organizations operate at 21% lower costs than peers and deliver 2.5 times greater procurement return on investment.

Key advantages include managing 21% more spend, achieving two times higher spend cost reduction savings, and a 59% reduction in maverick buying. They also demonstrate superior operational excellence with 23% shorter sourcing cycle times and 76% lower process costs per order. These organizations invest 15% of their operating budget in technology, which is 32% higher than typical organizations, reflecting a significant increase from five years ago.

The Hackett Group has announced the winners of its 11th Annual Digital Awards, recognizing companies for their digital transformation achievements. The 2024 winners are:

• 3M (Order-to-Cash)
• MTN Group (Source-to-Purchase)
• IBM (Plan-to-Results)
• CMA CGM (Market-to-Opportunity)
• Johnson & Johnson (Global Business Services – Service Desk)
• Intermountain Health (Talent Acquisition)
• WNS (Talent Management)
• Micron Technology (Purchase-to-Pay)

Key trends highlighted include the increasing use of robotic process automation, intelligent data extraction, and generative AI. The winners demonstrated innovative applications of automation and AI, resulting in significant time savings, cost reductions, and improved efficiency across various business processes.

The Hackett Group (NASDAQ: HCKT) has announced the acquisition of LeewayHertz, a leading Gen AI solutions provider. This strategic move aims to position Hackett as a key player in the Gen AI consulting space. The acquisition combines Hackett's Digital transformation IP with LeewayHertz's Gen AI capabilities and their respective AI platforms, AI XPLR and ZBrain.ai.

A new joint venture, ZBrain XPLR, will be created to integrate these platforms, offering a comprehensive Gen AI solution from ideation to implementation. Akash Takyar, LeewayHertz's CEO, will lead this venture and Hackett's Gen AI Implementation group. This acquisition is expected to enhance Hackett's consulting and software offerings, potentially creating new value for shareholders.