Alight completed cloud migration to reduce costs, enhance margins, and attract big-name customers.

From Nasdaq: 2024-08-13 08:38:00

Alight (ALIT) successfully completed its cloud migration program, shifting from data centers to Amazon Web Services (AWS) to enhance margins and efficiency. This move is expected to reduce servers by 40%, middleware systems by 60%, and software by 95%, saving the company nearly $75 million annually. ALIT is also focusing on streamlining its business by divesting segments and forming strategic partnerships.

To stay competitive in the human capital management market, Alight is enhancing its Alight Worklife platform with new features like integrated leave management, AI-supported leave management, and virtual care solutions. These innovations have helped ALIT differentiate its offerings from competitors like Paycom, Paycor, Bamboo HR, and Workday. The company has also attracted big-name customers like UPS and Wayfair.

By cutting costs through automation and innovative product launches, Alight aims to improve margins and increase shareholder value. The company’s strategic moves have garnered attention from customers and investors. In the second quarter of 2024, Alight secured major clients like UPS, Wayfair, American Honda Motor Company, and the Adecco Group. ALIT currently holds a Zacks Rank #3 (Hold) and has seen a 19.7% drop in its stock price compared to the industry’s growth of 9.6%.

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