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<ul><li><keyword id="267527" type="COMPANY" weightage="20" keywordseo="Craftsman-Automation">Craftsman Automation</keyword> has launched its ₹824 crore initial public offer (IPO) today, and it will be open for subscription till March 17.</li><li>The price band is fixed at ₹1,488-1,490, and each lot consists of 10 equity shares.</li><li>While some investment experts are bullish on the stock and suggest subscribing, others have pointed out certain risk factors.</li><li>This includes the risk posed by electric vehicles and supply chain shocks, among others.</li></ul>It’s raining initial public offers (IPO) this month, and the latest to join the list is the ₹824-crore <keyword id="10449692" type="UNKNOWN" weightage="20" keywordseo="Craftsman-Automation-IPO">Craftsman Automation IPO</keyword>. The Coimbatore-based company has kicked off its IPO today, March 15, with a price band of ₹1,488-1,490, netting you 10 shares per lot. The total IPO size is worth ₹824 crore, but Craftsman Automation has already secured ₹247 crore from anchor investors. 50% of the issue is reserved for qualified institutional buyers (QIB), 15% for non-institutional bidders and the remaining 35% for retail investors. <cmsannotation type="cmsannotation" annotationid="Understanding the business of Craftsman Automation" comment="subhead" text="Understanding the business of Craftsman Automation">Understanding the business of Craftsman Automation</cmsannotation> Craftsman Automation was founded in 1986 in Coimbatore. It has vertically integrated manufacturing capabilities and primarily caters to three business verticals – automotive-powertrain, automotive-aluminum, and industrial &amp; engineering. Craftsman is the leading player when it comes to machining of cylinder blocks and cylinder heads which are used in the commercial vehicles and construction equipment industries. It is also one of the top companies when it comes to supplying these parts in the tractor segment. Coming to the automotive-aluminum vertical, Craftsman has an array of processes in the high pressure, low pressure and gravity die casting for manufacturing auto components for passenger vehicles. In the industrial and engineering vertical, Craftsman builds aluminum products for power transmission, high-end precision products like gear boxes, marine engines and more. <cmsannotation type="cmsannotation" annotationid="Here are some of the clients of Craftsman Automation" comment="subhead" text="Here are some of the clients of Craftsman Automation">Here are some of the clients of Craftsman Automation</cmsannotation> Craftsman Automation has an impressive list of clients that includes companies like Daimler India, Tata Motors, Ashok Leyland, Mahindra &amp; Mahindra, Escorts, John Deere, JCB India, TVS Motors, Royal Enfield among others. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Lilladher </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">ICICI Direct </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Marwadi Financial Services </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="Craftsman Automation – strengths and risk factors" comment="subhead" text="Craftsman Automation – strengths and risk factors">Craftsman Automation – strengths and risk factors</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Diversified engineering company" comment="subhead" text="Diversified engineering company">Diversified engineering company</cmsannotation> Craftsman is the largest player in the machining of cylinder blocks and cylinder heads used in commercial vehicles and construction industry. Apart from this, it also offers products in the passenger vehicle, power transmission, marine engine segments, among others. “Its diversification of revenue across multiple customers allows it to prevent any possible customer concentration in any of its business segments,” stated a report by SMC Global Securities dated March 10. <cmsannotation type="cmsannotation" annotationid="Strong in-house processes and designing capabilities" comment="subhead" text="Strong in-house processes and designing capabilities">Strong in-house processes and designing capabilities</cmsannotation> The SMC report further adds that Craftsman has a ‘strong focus’ on research and development. Its manufacturing automation teams integrate robots and gantry systems, which helps in ensuring consistent quality. The report notes that Craftsman’s design capability is unique amongst its competitors. <cmsannotation type="cmsannotation" annotationid="Impressive domestic and global clientele" comment="subhead" text="Impressive domestic and global clientele">Impressive domestic and global clientele</cmsannotation> Craftsman has a range of marquee clientele, both domestic as well as global. Some of the big domestic names include Tata Motors, Mahindra &amp; Mahindra, Ashok Leyland, TVS Motors, Royal Enfield and others. Global names in the list include the likes of John Deere, India subsidiaries of Daimler, JCB among others. <cmsannotation type="cmsannotation" annotationid="Improving margins despite challenging business environment" comment="subhead" text="Improving margins despite challenging business environment">Improving margins despite challenging business environment</cmsannotation> Despite a challenging business environment and falling revenues, Craftsman has been able to improve its earnings. While its revenues fell by nearly 18% from March 2019 to March 2020, its earnings before interest, tax, depreciation and amortisation (EBITDA) improved from 25.12% to 27.24%. EBITDA is a measure of the company’s financial performance. <cmsannotation type="cmsannotation" annotationid="Powertrain and allied components prone to electric vehicles risk" comment="subhead" text="Powertrain and allied components prone to electric vehicles risk">Powertrain and allied components prone to electric vehicles risk</cmsannotation> While Craftsman’s prowess in the powertrain segment adds heft to the company’s profile, powertrain components would be obsolete when the present internal combustion engine (ICE) based vehicles are replaced by electric vehicles (EVs). <cmsannotation type="cmsannotation" annotationid="Low aftermarket presence ties company’s fortunes to OEMs" comment="subhead" text="Low aftermarket presence ties company’s fortunes to OEMs">Low aftermarket presence ties company’s fortunes to OEMs</cmsannotation> Craftsman caters to original equipment manufacturers (OEMs) across its three business verticals. Some of these OEMs operate in industries like automotive, steel, cement among others, which are cyclical in nature. As such, the demand tapers off in some seasons, and since Craftsman directly serves OEMs, its fortunes are tied to those of the OEMs. <cmsannotation type="cmsannotation" annotationid="Limited long-term contracts, prone to supply chain risk" comment="subhead" text="Limited long-term contracts, prone to supply chain risk">Limited long-term contracts, prone to supply chain risk</cmsannotation> According to the ICICI Direct report dated March 12, Craftsman does not have any exclusive supply arrangements and purchases material on a spot order basis. This exposes the company to supply chain risks. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/the-760-crore-anupam-rasayan-ipo-has-received-a-mixed-response-from-brokerages-heres-what-works-for-it-and-what-doesnt/articleshow/81462495.cms">The ₹760-crore Anupam Rasayan IPO has received a mixed response from brokerages — here's what works for it and what doesn't</a> <a href="https://www.businessinsider.in/stock-market/news/bitcoins-path-to-5-trillion-plus-the-markets-20-most-shorted-spacs-right-now/articleshow/81501083.cms">Bitcoin's path to $5 trillion, plus the market's 20 most-shorted SPACs right now</a> <a href="https://www.businessinsider.in/business/startups/news/tata-tryst-with-e-grocery-starts-with-a-billion-dollar-acquisition-of-bigbasket-heres-why-it-could-be-a-sweet-deal-for-both/articleshow/81478849.cms">Tata’s tryst with e-grocery starts with a billion dollar acquisition of BigBasket – here’s why it could be a sweet deal for both</a>

The ₹824-crore Craftsman Automation IPO opens today – should you subscribe?

<keyword id="10387" type="COMPANY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> India on Monday announced the public preview of its Power Automate Desktop, a new desktop-based solution that helps businesses automate repetitive, manual tasks. Part of <keyword id="10093477" type="COMPANY" weightage="20" keywordseo="microsoft-power-automate">Microsoft Power Automate</keyword> service, this Robotic Process Automate (<keyword id="842249" type="COMPANY" weightage="20" keywordseo="RPA">RPA</keyword>) solution is designed to expand low-code <keyword id="24019" type="PERSON" weightage="20" keywordseo="automation">automation</keyword> capabilities for organisations, Microsoft said. From simple data transfers to complex business workflows, this solution enables coders and non-coders alike to automate processes and tasks across desktop and web applications with minimal effort from a single intelligent platform. "With Microsoft Power Automate Desktop, we aim to empower organisations automate tasks across the desktop and web, using an integrated platform to complete tasks at speed and scale," Irina Ghose, Executive Director - Cloud Solutions, Microsoft India, said in a statement. "It enables businesses to free their knowledge-workers from time-consuming and repetitive jobs and focus on strategic tasks to deliver higher value to customers." Microsoft said Power Automate Desktop's intuitive design environment allows non-coders to automate processes quickly without writing a single line of code. Power Automate Desktop handles both Attended RPA (repetitive tasks like front-office activities) and Unattended RPA (back-office processes) with equal efficiency, Microsoft said. The solution is available worldwide in English, French, German, Japanese and Spanish. Earlier this year, Microsoft acquired <keyword id="5022201" type="COMPANY" weightage="20" keywordseo="Softomotive">Softomotive</keyword>, a London-based RPA solutions provider, to expand low-code, <keyword id="3241386" type="PERSON" weightage="20" keywordseo="robotic-process-automation">robotic process automation</keyword> capabilities in Microsoft Power Automate, strengthening the ability for anyone to automate processes.

Microsoft unveils new solution for businesses to automate repetitive tasks

<ul><li>The basis for allotment for the IPO of <keyword id="267527" type="COMPANY" weightage="20" keywordseo="Craftsman-Automation">Craftsman Automation</keyword> will be announced today. </li><li>Investors who have applied for the IPO can check their allotment status on the registrar’s website or the BSE website. </li><li>The Craftsman Automation shares are expected to be listed on March 25. </li></ul>Craftsman Automation, the Coimbatore-based company has completed its ₹824 crore initial public offering (IPO). The company’s IPO received a decent response from investors and was subscribed 3.82 times. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Craftsman Automation IPO </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyer </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investor </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Individual Investor </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times issue subscribed </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.21 </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.84 </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.41 </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.46 </td></tr></tbody></table> Craftsman Automation was founded in 1986 in Coimbatore. It has vertically integrated manufacturing capabilities and primarily caters to three business verticals – automotive-powertrain, automotive-aluminum, and industrial and engineering. The <keyword id="10970225" type="UNKNOWN" weightage="20" keywordseo="craftsman-automation-ipo-allotment-status">Craftsman Automation IPO allotment status</keyword> is scheduled to be announced today, March 22. How to check Craftsman Automation allotment status? You can check the Craftsman Automation allotment status on the registrar’s website. <ul><li>To check the <keyword id="10970221" type="UNKNOWN" weightage="20" keywordseo="craftsman-automation-ipo-allotment">Craftsman Automation IPO allotment</keyword> status, visit the registrar’s website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>. </li><li>Click on ‘Select IPO’ and then select ‘Craftsman Automation’. </li><li>Now, enter either your PAN, application number or DP / Client ID. </li><li>Now, enter the captcha. </li><li>Click on submit. </li></ul>Now, you will be able to see your application status. It will show the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the allotment status on the Bombay Stock Exchange (BSE) website. To check on BSE website: <ul><li>To check <keyword id="10449692" type="UNKNOWN" weightage="20" keywordseo="Craftsman-Automation-IPO">Craftsman Automation IPO</keyword> allotment status on BSE or NSE website, go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a>. </li><li>On the website, click on 'Equity' and then from the dropdown, select ‘Craftsman Automation '. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li><li>You will be able to see the number of shares allotted to you. </li></ul>When will the Craftsman Automation shares be listed? The listing date for the allotted shares of Craftsman Automation has not been announced. It is expected that the shares will be listed on March 25. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/suryoday-small-finance-bank-initial-public-offer-ipo-worth-581-crore-live-should-you-subscribe/articleshow/81543610.cms">Suryoday Small Finance Bank IPO worth ₹581 crore opens today – should you subscribe?</a> <a href="https://www.businessinsider.in/stock-market/news/craftsman-automation-has-launched-its-824-crore-initial-public-offer-ipo-in-stock-market-in-india/articleshow/81506486.cms">The ₹824-crore Craftsman Automation IPO opens today – should you subscribe?</a> <a href="https://www.businessinsider.in/stock-market/news/laxmi-organic-kicks-off-its-600-crore-ipo-should-you-subscribe/articleshow/81509655.cms">Laxmi Organic kicks off its ₹600 crore IPO – should you subscribe?</a>

Craftsman Automation IPO allotment live – how to check allotment, listing date and more

You can save time and hard-earned cash by grabbing simple yet critical methods on the way. 
 Thanks to the advent of technology, software has managed to effectively streamline a great deal of monotonous business processes. This <keyword id="24019" type="PERSON" weightage="20" keywordseo="automation">automation</keyword> can be a genuine lifesaver to small businesses, as the proprietors tend to be stretched thin with the demands of maintaining a business. 
 
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Payments 
 Another great part of <keyword id="63061" type="UNKNOWN" weightage="20" keywordseo="cash-flow">cash flow</keyword> automation is a more streamlined payment procedure. Automated systems for cash flow management have furnished businesses with a path around paper-based tasks. 
 
Communication 
 
Automating the delivery of electronic communications is an enormous time saver and disposes of a considerable lot of the ordinary everyday things, which are essential yet time consuming and regularly shield you from accomplishing other critical tasks. 
 
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You can make something that 10 years back would have required a staff of 100 individuals, yet now it’s run by a mother of two who takes a shot at it part-time and puts in a couple of hours every week. It's the most proficient and compelling use of assets.

How startups can automate cash flow and make best use of their assets

<ul class="summary-list"><li><keyword id="34615" type="ORGANIZATION" weightage="60" keywordseo="restaurants">Restaurants</keyword> are evolving as higher costs and the labor shortage transform the industry.</li><li>Meals at high-end spots will likely get pricier as businesses raise wages to attract workers.</li><li>At more casual venues, <keyword id="16719" type="ENTERTAINMENT" weightage="60" keywordseo="robots">robots</keyword> will do more menial work, boosting human workers' productivity.</li></ul>The playbook that worked for restaurants before the pandemic isn't cutting it today.Owners faced a flurry of issues as they reopened after more than a year of restricted business. A shortage of available workers hindered rehiring efforts and soaring food prices cut into profits. Reopening brought a wave of demand in the spring, but most restaurants weren't equipped to service the boom.Solutions are emerging, but they're likely to leave the industry permanently altered. Think fewer waiters, more robots; fewer $10 appetizers, more $15 ones. The gap between upscale dining and more casual venues stands to become wider than before, but overall much-needed change should be coming to the space. Restaurant owners have long relied on workers pushed to their limits. Low wages and cheap ingredients have been necessary to compete throughout the sector, but high-end restaurants also excuse abuse "as necessary to create a superlative dining experience," Peter Hoffman, operator of New York City restaurants Savoy and Back Forty, wrote in a recent <a href="https://www.nytimes.com/2021/08/10/opinion/restaurants-covid-pandemic.html">New York Times essay</a>. Calling out sick is seen as a sign of weakness, while verbal abuse is deemed critical to keeping kitchens punctual.Owners are now dealing with the consequences of such treatment. <a href="https://www.businessinsider.com/restaurant-workers-are-quitting-at-record-rates-2021-6">Restaurant workers quit the industry</a> at a record pace through the spring, and owners have struggled to rehire them. With job openings at record highs, it's no surprise restaurant employees are <a href="https://www.businessinsider.com/labor-shortage-unemployment-benefits-america-reopening-rethink-work-employment-wages-2021-5">rethinking how they work</a>, Hoffman said.Casual venues and fast food spots are also having a hard time hiring, and intense competition makes wage hikes less feasible. Stronger inflation for ingredients has also pressured profit margins.Some businesses seem to be taking a sneaky approach to the issue. Several Chipotle customers took to social media in June to <a href="https://www.businessinsider.com/some-chipotle-customers-are-complaining-they-received-tiny-burritos-2021-6">complain about smaller burritos than usual</a>. The chain already announced it would raise menu prices, but the items' sizes suggest a classic case of shrinkflation, or the selling of smaller quantities for the same price.Others are turning to more permanent solutions. Restaurant <keyword id="24019" type="PERSON" weightage="60" keywordseo="automation">automation</keyword> is on the rise, and it's bringing tangible benefits for owners, staff, and customers alike.Take Flippy, <a href="https://www.businessinsider.com/white-castle-adds-more-flippy-robot-cooks-2020-10">a fry-cook robot</a> working at a White Castle in Indiana. The machine works 23 hours a day does its job with minimal risk of spills and workplace injuries, and helps other workers be more productive.McDonald's is currently <a href="https://www.businessinsider.com/labor-shortage-automation-restaurants-hiring-employment-productivity-job-market-outlook-2021-7">testing AI software for drive-thru ordering</a>. Dave &amp; Buster's is expanding its contactless ordering system. And Cracker Barrel now allows patrons to pay for meals with an app. Starbucks is rolling out an automated inventory ordering system at 1,500 stores, it announced in a recent earnings call.Almost every American wants to avoid menial fast-food jobs, Stephen Klein, CEO of robotics company <keyword id="575858" type="COMPANY" weightage="60" keywordseo="Hyphen">Hyphen</keyword>, told Insider. The firm recently rolled out automation that can make 350 meals in a single hour, replacing a whole team of makeline staff. The system takes care of the mind-numbing work long relegated to minimum-wage workers and lets people pursue more gainful employment, Klein told Insider."It's freeing up the repetitive tasks, just like you did with ATMs in bank branches or the grocery check-out aisle at your local Safeway," he added.Automation also solves the consistency issue Chipotle customers ran into this summer. Robots can be programmed to make every meal or drink exactly as planned. That efficiency saves money for owners, stress for workers, and annoyance for customers, Klein said."The one thing that baristas and chefs have in common is they want everything perfect," he said. "They want the recipe followed line-by-line to the gram ... whether it's an espresso shot or any meal."

The restaurants of the future will be more expensive and full of robots. Here's why that's a good thing.

Results of a recent survey from KPMG say that India’s CEOs are worried about <keyword id="24019" type="PERSON" weightage="100" keywordseo="automation">automation</keyword> and <keyword id="3630903" type="UNKNOWN" weightage="100" keywordseo="disruptors">disruptors</keyword>, and are looking for newer ways to stay relevant in an increasingly competitive market. 
 
The survey, called KPMG's 2016 India CEO outlook that saw participation of over 125 CEOs, says that 60% of the India’s top executives believe that it’s not long that automation will be adopted in the country, eliminating an estimated 5% of their manpower. Similarly, for disruptors, a whopping 81% believe that new entrants are disrupting their business models and 84% are concerned about the relevance of their products/services within three years. 
 
Several CEOs think that they lack the information required to assess how their customers use their products and services, or whether or not their companies operate effectively. 
 
As per a report by HfS, a US-based research firm, automation will eat up 6.4 lakh 'low-skilled' jobs in India's IT services industry over the next five years. 
 
"I think in the IT sector, may be 10% minimum of incremental jobs that are created will disappear. That means every year if they do (create) 2 to 2.5 lakh jobs, 25,000-50,000 jobs will disappear," Mohandas Pai, CFO and HR Head at Infosys, told <a href="http://economictimes.indiatimes.com/news/company/corporate-trends/70-of-indian-ceos-are-scared-about-automation-and-disruptors-like-jio-says-kpmg-survey/articleshow/54045401.cms">ET</a>. 
 
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Automation and disruptors are giving sleepless nights to 70% of Indian CEOs, says KPMG survey

The last 18 months have been a testament to businesses’ increasing reliance on <keyword id="12007672" type="General" weightage="20" keywordseo="technology-and-automation" source="Orion">technology and automation</keyword>, to not only survive but also to thrive. In the initial rush to digitise processes, and to enable people to work remotely, and getting more done with fewer hands, the cultural characteristics of an <keyword id="48809" type="General" weightage="20" keywordseo="organisation" source="Orion">organisation</keyword> were a natural casualty. While algorithms were speeding things up, lack of physical proximity, challenges of <keyword id="1591611" type="General" weightage="20" keywordseo="remote-work" source="Orion">remote work</keyword>, including the lack of familiarity with new teammates, were slowing things down. If the likely future of work is going to be more remote or hybrid (less frequent visits to office wherever possible), the ways to hold up an organisation’s culture, and ensuring that every member of the team sticks to the values that define the company, are yet to be fortified. Businesses have tried to replicate the office atmosphere in the form of Zoom gatherings, happy hours, and virtual onboarding sessions. The experience of these may be different from one firm to another. You can hear some of these stories at Business Insider’s Future of Work Summit 2021 on September 15 and 16. It takes years to evolve a company culture that values the well-being of the people, and fosters a feeling of belongingness in them. And it requires constant monitoring to protect it. In light of this, we foresee businesses taking stock of employees’ needs via open communication. To ensure that productivity levels don’t wane over time and the employees keep feeling motivated, organizations need to continuously invest in their employees’ futures and provide them with opportunities and tools that would help them transition to another job or industry with ease or grow in the current one. This intangible culture of an organisation is crucial to create a sense of belongingness among employees. Top executives from some of the biggest companies in India and the world, founders like Sanjeev Bikhchandani Info Edge and Ronnie Screwvala from UpGrad, as well as renowned researchers and academics from the field will be there at the Future of Work Summit exchanging lessons and ideas for a new era of organisation building that is upon us now. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/common-financial-mistakes-to-avoid/articleshow/85856175.cms">Common financial mistakes to avoid in your 30s</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/this-bengaluru-startup-is-looking-to-set-up-1-million-ev-chargers-in-next-three-years-raises-4-million/articleshow/85857340.cms">This Bengaluru startup is looking to set up 1 million EV chargers in next three years, raises $4 million</a>

Technology is changing organisations and culture has to keep pace with it

<ul class="summary-list"><li>The US <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> has had a strange comeback, where overall output is back to its pre-recession level but <keyword id="6355127" type="UNKNOWN" weightage="60" keywordseo="employment">employment</keyword> is still low.</li><li>That means we're selling as much stuff as we were in 2019 but with almost 6 million fewer workers.</li><li>Workers could stay sidelined and we'll keep making more with less, or they'll come back to a more productive economy that could boom for years.</li></ul>The US economy has been on a <a href="https://www.businessinsider.com/us-economy-hot-vax-summer-july-jobs-report-wage-growth-2021-8">rampage all summer</a>, with <a href="https://www.businessinsider.com/us-gdp-q2-economic-output-complete-recovery-vaccination-reopening-infrastructure-2021-7">growth</a>, <a href="https://www.businessinsider.com/3-great-things-one-bad-thing-american-second-quarter-gdp-2021-7">consumer demand</a>, <a href="https://www.businessinsider.com/despite-inflation-wages-are-still-higher-than-pre-pandemic-levels-2021-8">wage growth</a>, and <a href="https://www.businessinsider.com/july-jobs-report-cuts-months-off-economic-recovery-payrolls-outlook-2021-8">job openings</a> all at historically high levels as the country reopened.But there's a strange divide in the recovery, and how it works itself out could define the rest of the decade. There's a split between the recovery of GDP and employment. The first is recovering much faster than the latter.Both total economic output, as measured by real gross domestic product, and the number of Americans with jobs plummeted last spring, and both have spent the last year sharply recovering.Real GDP recently surpassed its pre-pandemic peak, but as of July there are still about 5.7 million fewer employees on payrolls in the US than there were in February 2020.That means the US economy is making and selling as much stuff as it was in 2019, but with nearly 6 million fewer workers. This suggests a big increase in <keyword id="23080" type="COMPANY" weightage="60" keywordseo="productivity">productivity</keyword>. If those gains hold up, there are two very different paths forward from here: Workers might stay on the sidelines and output will keep modestly growing, with a permanently smaller labor force, or those workers could return to fuel a more productive economy than most developed countries like the US have seen in decades.<h2>Doing more with less</h2>One possibility is that we could maintain the productivity gains seen during the pandemic with a permanently smaller workforce.Economics blogger <a href="https://jabberwocking.com/the-8-million-worker-gap-is-probably-actually-around-4-million/">Kevin Drum made some back-of-the-envelope calculations</a>, estimating that by the end of 2022, output would be roughly where it would have been without the pandemic, but with only about 3.5 million more employed Americans than we have now. (Drum used the CBO's estimates for what potential GDP could look like, while extrapolating out from the productivity <keyword id="42546" type="PERSON" weightage="60" keywordseo="Growth">growth</keyword> over the last several months.)Economist Robert Gordon, who specializes in studying long-run trends in productivity and economic growth, <a href="https://www.anderson.ucla.edu/about/centers/ucla-anderson-forecast/research-and-reports/forecast-direct-podcast/february-2021">shared similar thoughts with UCLA Anderson economist Leo Feler in a February podcast</a>. This was a big deal in the economics community, as Gordon is a famous pessimist when it comes to productivity.Gordon noted that a lot of the productivity growth over the last year came from high-income, high-productivity workers who can do their jobs from home without all the expenses and trappings of commutes and office buildings.If those trends continue, Gordon predicted you could see a dampening of productivity growth across the broader economy as sectors like commercial real estate and public transportation struggle in an environment where office buildings in downtown business districts remain empty.<h2>Doing more with more</h2>There's another possible future, however. If productivity growth sustains and the US returns to pre-pandemic employment trends, that could turbocharge overall economic growth for years to come.Bloomberg columnist <a href="https://www.bloomberg.com/future-of-work">Conor Sen made his own back-of-the-envelope calculations along those lines</a>. The US could actually see 7% annual GDP growth over the next couple years, he wrote, much higher than most estimates.Sen assumed a return to pre-pandemic employment trends by the end of 2022 - adding back all of the 5.7 million lost jobs, plus the jobs that would have been added to the economy without the disruptions of the last year - as well as ongoing productivity growth as businesses invest in <keyword id="24019" type="PERSON" weightage="60" keywordseo="automation">automation</keyword> and other technologies.This also seems to be the goal of President Joe Biden and the Democrats' proposed economic policies. Both the $1 trillion bipartisan infrastructure bill and the likely party-line $3.5 trillion reconciliation bill are full of proposals to boost productivity through investments in better physical infrastructure and to make it easier for Americans to return to the workforce through initiatives like improved access to child care. If there is such a thing as "<a href="https://www.businessinsider.com/how-bidens-middle-out-theory-works-to-boost-economic-growth-2021-4">Bidenomics</a>," it's the doing-more-with-more approach of this scenario.<h2>This all depends on whether or not workers come back</h2>These are the extreme ends of a spectrum, and the economy could well end up somewhere in the middle, with modest-to-fast gains in both employment and growth. But a lot will depend on just how many workers come back.Even though the US has been adding jobs at a stunning pace through the summer, <a href="https://fred.stlouisfed.org/series/CIVPART">labor force participation remains quite a bit lower than it did before the pandemic</a>. Many older Americans have likely permanently retired, and many workers may be waiting on the sidelines because of ongoing concerns about the pandemic and uncertainty around schools reopening.If job openings are enticing enough to bring in those sidelined workers, we could see an economic boom. If they aren't, or if the productivity gains we've seen over the last year represent a permanent dislocation of a lot of pre-pandemic jobs, we could have a more productive but smaller workforce.It all comes down to just how much growth workers - and employers - want out of the economy.

The unemployed may never come back. Here's what that means for the economy.

Automation in the Workplace

<ul><li>Data entry is one of the most redundant and hated office tasks, according to a global research backed by <keyword id="3342300" type="PERSON" weightage="20" keywordseo="Automation-Anywhere">Automation Anywhere</keyword>. </li><li>This is followed by managing email traffic, filling digital documents like spreadsheets and PDFs in a folder, compiling reports and invoice management. </li><li>When these digital administrative tasks are done repetitively, it also takes a toll on the productivity of employees. </li><li>In fact, over half of them said that they would consider switching jobs if the load became too high. </li></ul>Even if your job is exciting, repetitive tasks make it boring. And today’s workforce demands a tweak by embracing <keyword id="24019" type="PERSON" weightage="20" keywordseo="automation">automation</keyword>, in order to eliminate manual and tedious tasks. Data entry is one of the most redundant and hated office tasks, according to a global research backed by Automation Anywhere, a <keyword id="3241386" type="PERSON" weightage="20" keywordseo="robotic-process-automation">robotic process automation</keyword> firm. This is followed by managing email traffic, filing digital documents like spreadsheets and PDFs in a folder, compiling reports and invoice management. Almost half of the Indian respondents said that the tasks associated with digital administration are significantly boring — and an average working employee spends, or rather wastes almost 40% of the day to facilitate it. This also acts as a roadblock to the core job. When these digital administrative tasks are done repetitively, it also takes a toll on the productivity of employees, the report said. “There was a time not so long ago when workplace technology was viewed as liberating. The PC-age freed office workers from rigid processes, placing each of us in control of our own workflow. But there’s been a trade-off, and today, those tasks have become a significant burden,” said Shelly Kramer, Principal Analyst, Futurum Research. With digital technologies revamping the workspace, nearly half of the activities undertaken by the workers could be automated, says a McKinsey report. This gravitates back to the point that argues why humans should be engaged in any repetitive digital task, if it can be automated. In fact, over half of the surveyed people said that they would consider switching jobs if the load became too high. Impacting personal lives Nearly 49% of the survey respondents said that they are not able to leave the office on time because of the hassle of everyday administrative tasks. “If you work in an office, likely your productivity and happiness are significantly undermined with having to be responsible for manual computer administration tasks that could easily be automated and eat into your day,” kramer said. “This is a bigger problem for male workers, as 54% of men struggle to leave work on time, compared to 43% of female workers,” the survey highlighted. The survey analysed over 10,000 office workers across 11 countries, including India. See also: <a href="https://www.businessinsider.in/careers/news/bill-gates-plan-to-give-employees-remote-working-days-is-a-hit-with-indian-hr-managers/articleshow/73182907.cms">Bill Gates’ plan to give employees remote working days is a hit with Indian HR managers</a> <a href="https://www.businessinsider.in/careers/article/these-are-the-10-top-rated-tech-workplaces-in-india-according-to-indeed/articleshow/72878491.cms">ISRO becomes the fifth best place to work in India - after it jumps five spots</a>

These are the most hated workplace tasks that affect personal and professional lives

<ul><li>Shares of <keyword id="267527" type="COMPANY" weightage="20" keywordseo="Craftsman-Automation">Craftsman Automation</keyword> listed on the stock exchanges at ₹1,359 per share, which is nearly 9% less than the issue price.</li><li>The company’s initial public offer (IPO) was oversubscribed by 3.82 times.</li><li>It intends to use parts of the proceeds towards repaying its loans worth ₹120 crore, while the rest will go to shareholders selling their shares – the promoters and investors.</li></ul>Shares of Craftsman Automation, a Coimbatore-based manufacturer of engineering products, debuted at ₹1,359 per share, which is nearly 9% lower than its issue price of ₹1,490. At 10:05 am, the share price of Craftsman Automation was hovering around ₹1,415, down by 5% over the issue price. The engineering products and services company floated its ₹824 crore initial public offer (IPO) earlier this month. The IPO was oversubscribed by 3.82 times, with qualified institutional investors leading the fray. The Coimbatore-based Craftsman Automation plans to repay its debts worth ₹120 crore from the proceeds of the IPO. The remaining amount will go to the promoters and investors who are selling their shares. The grey market premium for Craftsman Automation’s shares was hovering around the ₹30-35 mark, which translates to approximately 2% of the issue price of ₹1,490. It is worth noting that grey market premium is not an official measure of market premium. Craftsman Automation commenced operations in 1986. It has vertically integrated manufacturing capabilities and primarily caters to three business verticals – automotive-powertrain, automotive-aluminum, and industrial &amp; engineering. Craftsman is the leading player when it comes to machining of cylinder blocks and cylinder heads which are used in the commercial vehicles and construction equipment industries. It is also one of the top companies when it comes to supplying these parts in the tractor segment. In its IPO note, SMC Global Securities stated that Craftsman Automation’s revenue is diversified across customers, which shields it from the market uncertainties. “Its diversification of revenue across multiple customers allows it to prevent any possible customer concentration in any of its business segments,” stated a report by SMC Global Securities dated March 10. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/anupam-rasayan-ipo-lists-at-520-per-share-on-the-india-stock-exchange/articleshow/81663145.cms">Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% soon after listing</a> <a href="https://www.businessinsider.in/stock-market/news/the-760-crore-anupam-rasayan-ipo-has-received-a-mixed-response-from-brokerages-heres-what-works-for-it-and-what-doesnt/articleshow/81462495.cms">The ₹760-crore Anupam Rasayan IPO has received a mixed response from brokerages — here's what works for it and what doesn't</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-share-price-hit-upper-circuit-after-the-company-adds-two-renewable-energy-projects-to-its-kitty/articleshow/81627604.cms">Adani Green Energy shares hit upper circuit after the company adds two renewable energy projects to its kitty</a>

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