our concentrix customer contracts typically consisted of a master services agreement or statement of work , which contained the terms and conditions of each program or service we offered . our agreements could range from less than one year to over five years and were subject to early termination by our customers or us for any reason , typically with 30 to 90 days ' notice . in fiscal years 2020 and 2019 , approximately 34 % of our consolidated revenue and approximately 24 % of our technology solutions revenue , was generated from our international operations . as a result , our revenue growth has been impacted by fluctuations in foreign currency exchange rates . the market for it products and services is generally characterized by declining unit prices and short product life cycles . our overall business is also highly competitive on the basis of price . we set our sales price based on the market supply and demand characteristics for each particular product or bundle of products we distribute and solutions we provide . from time to time , we also participate in the incentive and rebate programs of our oem suppliers . these programs are important determinants of the final sales price we charge to our reseller customers . to mitigate the risk of declining prices and obsolescence of our distribution inventory , our oem suppliers generally offer us limited price protection and return rights for products that are marked down or discontinued by them . we carefully manage our inventory to maximize the benefit to us of these supplier provided protections . a significant portion of our technology solutions cost of revenue is the purchase price we pay our oem suppliers for the products we sell , net of any incentives , rebates , price protection and purchase discounts received from our oem suppliers . cost of products revenue also consists of provisions for inventory losses and write-downs , freight expenses associated with the receipt in and shipment out of our inventory , and royalties due to oem vendors . in addition , cost of revenue includes the cost of material , labor and overhead for our systems design and integration solutions . in our concentrix segment , cost of revenue consists primarily of personnel costs related to contract services delivery . 26 table of content revenue and cost of revenue in our technology solutions segment relate to products , and revenue and cost of revenue in our concentrix segment relate to services . margins the technology solutions industry in which we operate is characterized by low gross profit as a percentage of revenue , or gross margin , and low income from operations as a percentage of revenue , or operating margin . our technology solutions gross margin has fluctuated annually due to changes in the mix of products we offer , customers we sell to , incentives and rebates received from our oem suppliers , competition , seasonality , replacement of lower margin business , inventory obsolescence , and lower costs associated with increased efficiencies . generally , when our revenue becomes more concentrated on limited products or customers , our technology solutions gross margin tends to decrease due to increased pricing pressure from oem suppliers or reseller customers . concentrix gross margins , which are higher than those in our technology solutions segment , can be impacted by the mix of customer contracts , additional lead time for programs to be fully scalable and transition and initial set-up costs . our operating margin has also fluctuated in the past , based primarily on our ability to achieve economies of scale , the management of our operating expenses , changes in the relative mix of our technology solutions and concentrix revenue , and the timing of our acquisitions and investments . economic and industry trends our technology solutions revenue is highly dependent on the end-market demand for it and ce products . this end-market demand is influenced by many factors including the introduction of new it and ce products and software by oems , replacement cycles for existing it and ce products , seasonality and overall economic growth and general business activity . a difficult and challenging economic environment may also lead to consolidation or decline in the it and ce distribution industry and increased price-based competition . business in our system design and solutions is highly dependent on the demand for cloud infrastructure , and the number of key customers and suppliers in the market . our technology solutions business includes operations in the united states , canada , japan and latin america , so we are affected by demand for our products in those regions and the strengthening or weakening of local currencies relative to the u.s. dollar . the customer experience services industry in which our concentrix segment operated is competitive . customers ' performance measures were based on competitive pricing terms and quality of services . our concentrix business was largely concentrated in the united states , the united kingdom , the philippines , india , canada , china and japan . accordingly , we were impacted by economic strength or weakness in these geographies and by the strengthening or weakening of local currencies relative to the u.s. dollar . in december 2019 , there was an outbreak of a new strain of coronavirus ( “ covid-19 ” ) . in march 2020 , the world health organization characterized covid-19 as a pandemic . the covid-19 pandemic has negatively impacted the global economy , disrupted global supply chains and workforce participation , including our own , and created significant volatility and disruption of financial markets . the disruptions due to covid-19 have impacted our business including logistics operations in our technology solutions segment and limited the productive ability of many of our associates who were in our concentrix segment , particularly during the second quarter of fiscal year 2020 . story_separator_special_tag revenue in our technology solutions segment increased in fiscal year 2020 compared to fiscal year 2019 primarily due to a demand for technology equipment as covid-19 related government mandated shelter-in-place restrictions during the second , third and fourth quarters of fiscal year 2020 led to increased needs for remote work , learn and consume related solutions . on a constant currency basis , revenue in our technology solutions segment increased by 5.2 % during fiscal year 2020 , compared to fiscal year 2019. concentrix segment revenue increased slightly in fiscal year 2020 , compared to fiscal year 2019 , due to growth with technology , retail and ecommerce clients partially offset by lower demand from media , communications , travel , tourism and automotive clients . during fiscal year 2020 , concentrix revenue was impacted by the covid-19 related government mandated shelter-in-place restrictions in several countries in the world . these restrictions adversely impacted our revenue due to the inability of a significant 32 table of content number of our associates to work despite client demand . this impact was most acute in the second quarter of 2020. our revenue was also unfavorably impacted by the translation effect of foreign currencies . gross profit replace_table_token_10_th our technology solutions gross margin is affected by a variety of factors , including competition , selling prices , mix of products and services , product costs along with rebate and discount programs from our suppliers , reserves or settlement adjustments , freight costs , inventory losses , acquisition of business units and fluctuations in revenue . concentrix margins , which are higher than those in our technology solutions segment , can be impacted by resource location , client mix and pricing , additional lead time for programs to be fully scalable , and transition and initial set-up costs . technology solutions gross profit increased in fiscal year 2020 , as compared to the prior fiscal year , primarily driven by strong demand for technology products as covid-19 related government mandated shelter-in-place restrictions during the second , third and fourth quarters of fiscal year 2020 led to a greater need for remote work , learn and consume related solutions . this increase was partially offset by lower margins due to product mix from our projects and integration-based server solutions and incremental covid-19 related costs of approximately $ 10.4 million . our concentrix segment 's gross profit and margin decreased during fiscal year 2020 as compared to the prior fiscal year , due to the incremental impact of $ 76.0 million in covid-19 related non-productive workforce and other costs , which was most acute during the second and third quarters of fiscal year 2020 , as we transitioned our workforce to work remotely . selling , general and administrative expenses replace_table_token_11_th our selling , general and administrative expenses consist primarily of personnel costs such as salaries , commissions , bonuses , share-based compensation and temporary personnel costs . selling , general and administrative expenses also include cost of warehouses , delivery centers and other non-integration facilities , utility expenses , legal and professional fees , depreciation on certain of our capital equipment , bad debt expense , amortization of our non-technology related intangible assets , and marketing expenses , offset in part by reimbursements from our oem suppliers . selling , general and administrative expenses in our technology solutions segment increased in fiscal year 2020 , compared to fiscal year 2019 , primarily due to an increase in allowance for doubtful accounts and higher salaries and employee related expenses due to covid-19 . incremental costs related to covid-19 were approximately $ 33 million for fiscal year 2020. in addition , we incurred $ 7.4 million in transaction costs related to the separation of concentrix . these increases were partially offset by a $ 3.7 million decrease in amortization of intangible assets . technology solutions selling , general and administrative expenses as a percentage of revenue in fiscal year 2020 , was consistent with the prior fiscal year . concentrix selling , general and administrative expenses decreased , in both absolute dollars and as a percentage of revenue , in fiscal year 2020 , compared to the prior fiscal year , primarily due to lower facility and employee costs as a result of integration and 33 table of content facility rationalization undertaken in fiscal year 2019 in connection with the acquisition of convergys corporation as well as the impact of reduction in variable operating expenses and discretionary spend due to covid-19 related remote work . the decrease in the current fiscal year was also caused by an $ 18.9 million reduction in the amortization of intangible assets and a decrease in transaction-related and integration expenses by $ 33.0 million as compared to the prior year . these decreases were partially offset by incremental technology and health and safety c osts of approximately $ 10.0 million due to covid-19 related remote work . operating income replace_table_token_12_th operating income in our technology solutions segment increased during fiscal year 2020 , compared to the prior year , primarily due to broad based growth , decreases in the amortization of intangible assets and transaction-related expenses . these increases were partially offset by the impact of covid-19 related incremental costs associated with allowances for doubtful accounts and higher salary and employee related costs . operating margin in our technology solutions segment decreased due to product mix . operating income and margin in our concentrix segment increased during fiscal year 2020 , compared to the prior year , primarily due to lower transaction-related and integration expenses and lower amortization of intangible assets partially offset by the impact of covid-19 related incremental costs . interest expense and finance charges , net replace_table_token_13_th amounts recorded in interest expense and finance charges , net , consist primarily of interest expense paid on our lines of credit and term loans , fees associated with third party accounts receivable flooring arrangements and the sale or pledge of accounts

cash flows our technology solutions business is working capital intensive . our working capital needs are primarily to finance accounts receivable and inventory . we rely heavily on term loans , accounts receivable arrangements , our securitization programs and our revolver programs for our working capital needs . we have financed our growth and cash needs to date primarily through cash 36 table of content generated from operations and financing activities . as a general rule , when sales volumes are increasing , our net investment in working capital dollars typically increases , which generally results in decreased cash flow generated from operating activities . conversely , when sales volume decreases , our net investment in working capital dollars typically decreases , which generally results in increases in cash flows generated from operating activities . we calculate ccc as days of the last fiscal quarter 's sales outstanding in accounts receivable plus days of supply on hand in inventory , less days of the last fiscal quarter 's direct cost outstanding in accounts payable . our ccc was 31 days and 4 4 days at the end of fiscal years 20 20 and 201 9 , respectively . ccc of our technology solutions segment was 25 days compared to 41 days at the end of fiscal years 2020 and 2019 , respectively . the de crease in fiscal year 20 20 , compared to fiscal year 20 19 , was primarily due to efficient collections of accounts receivable and faster turnover of our inventor ies in our technology solutions segment . in addition , o ur dpo was favorably impacted by the timing of payments of accounts payable in both our technology solutions and concentrix reportable segments . to increase our market share and better serve our customers , we may further expand our operations through investments or acquisitions . we expect that such expansion would require an initial investment in working capital , personnel , facilities and operations . these investments or acquisitions would likely be funded primarily by our existing cash and cash equivalents , additional borrowings , or the issuance of securities .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash flows our technology solutions business is working capital intensive . our working capital needs are primarily to finance accounts receivable and inventory . we rely heavily on term loans , accounts receivable arrangements , our securitization programs and our revolver programs for our working capital needs . we have financed our growth and cash needs to date primarily through cash 36 table of content generated from operations and financing activities . as a general rule , when sales volumes are increasing , our net investment in working capital dollars typically increases , which generally results in decreased cash flow generated from operating activities . conversely , when sales volume decreases , our net investment in working capital dollars typically decreases , which generally results in increases in cash flows generated from operating activities . we calculate ccc as days of the last fiscal quarter 's sales outstanding in accounts receivable plus days of supply on hand in inventory , less days of the last fiscal quarter 's direct cost outstanding in accounts payable . our ccc was 31 days and 4 4 days at the end of fiscal years 20 20 and 201 9 , respectively . ccc of our technology solutions segment was 25 days compared to 41 days at the end of fiscal years 2020 and 2019 , respectively . the de crease in fiscal year 20 20 , compared to fiscal year 20 19 , was primarily due to efficient collections of accounts receivable and faster turnover of our inventor ies in our technology solutions segment . in addition , o ur dpo was favorably impacted by the timing of payments of accounts payable in both our technology solutions and concentrix reportable segments . to increase our market share and better serve our customers , we may further expand our operations through investments or acquisitions . we expect that such expansion would require an initial investment in working capital , personnel , facilities and operations . these investments or acquisitions would likely be funded primarily by our existing cash and cash equivalents , additional borrowings , or the issuance of securities .
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 Suspicious Activity Report : our concentrix customer contracts typically consisted of a master services agreement or statement of work , which contained the terms and conditions of each program or service we offered . our agreements could range from less than one year to over five years and were subject to early termination by our customers or us for any reason , typically with 30 to 90 days ' notice . in fiscal years 2020 and 2019 , approximately 34 % of our consolidated revenue and approximately 24 % of our technology solutions revenue , was generated from our international operations . as a result , our revenue growth has been impacted by fluctuations in foreign currency exchange rates . the market for it products and services is generally characterized by declining unit prices and short product life cycles . our overall business is also highly competitive on the basis of price . we set our sales price based on the market supply and demand characteristics for each particular product or bundle of products we distribute and solutions we provide . from time to time , we also participate in the incentive and rebate programs of our oem suppliers . these programs are important determinants of the final sales price we charge to our reseller customers . to mitigate the risk of declining prices and obsolescence of our distribution inventory , our oem suppliers generally offer us limited price protection and return rights for products that are marked down or discontinued by them . we carefully manage our inventory to maximize the benefit to us of these supplier provided protections . a significant portion of our technology solutions cost of revenue is the purchase price we pay our oem suppliers for the products we sell , net of any incentives , rebates , price protection and purchase discounts received from our oem suppliers . cost of products revenue also consists of provisions for inventory losses and write-downs , freight expenses associated with the receipt in and shipment out of our inventory , and royalties due to oem vendors . in addition , cost of revenue includes the cost of material , labor and overhead for our systems design and integration solutions . in our concentrix segment , cost of revenue consists primarily of personnel costs related to contract services delivery . 26 table of content revenue and cost of revenue in our technology solutions segment relate to products , and revenue and cost of revenue in our concentrix segment relate to services . margins the technology solutions industry in which we operate is characterized by low gross profit as a percentage of revenue , or gross margin , and low income from operations as a percentage of revenue , or operating margin . our technology solutions gross margin has fluctuated annually due to changes in the mix of products we offer , customers we sell to , incentives and rebates received from our oem suppliers , competition , seasonality , replacement of lower margin business , inventory obsolescence , and lower costs associated with increased efficiencies . generally , when our revenue becomes more concentrated on limited products or customers , our technology solutions gross margin tends to decrease due to increased pricing pressure from oem suppliers or reseller customers . concentrix gross margins , which are higher than those in our technology solutions segment , can be impacted by the mix of customer contracts , additional lead time for programs to be fully scalable and transition and initial set-up costs . our operating margin has also fluctuated in the past , based primarily on our ability to achieve economies of scale , the management of our operating expenses , changes in the relative mix of our technology solutions and concentrix revenue , and the timing of our acquisitions and investments . economic and industry trends our technology solutions revenue is highly dependent on the end-market demand for it and ce products . this end-market demand is influenced by many factors including the introduction of new it and ce products and software by oems , replacement cycles for existing it and ce products , seasonality and overall economic growth and general business activity . a difficult and challenging economic environment may also lead to consolidation or decline in the it and ce distribution industry and increased price-based competition . business in our system design and solutions is highly dependent on the demand for cloud infrastructure , and the number of key customers and suppliers in the market . our technology solutions business includes operations in the united states , canada , japan and latin america , so we are affected by demand for our products in those regions and the strengthening or weakening of local currencies relative to the u.s. dollar . the customer experience services industry in which our concentrix segment operated is competitive . customers ' performance measures were based on competitive pricing terms and quality of services . our concentrix business was largely concentrated in the united states , the united kingdom , the philippines , india , canada , china and japan . accordingly , we were impacted by economic strength or weakness in these geographies and by the strengthening or weakening of local currencies relative to the u.s. dollar . in december 2019 , there was an outbreak of a new strain of coronavirus ( “ covid-19 ” ) . in march 2020 , the world health organization characterized covid-19 as a pandemic . the covid-19 pandemic has negatively impacted the global economy , disrupted global supply chains and workforce participation , including our own , and created significant volatility and disruption of financial markets . the disruptions due to covid-19 have impacted our business including logistics operations in our technology solutions segment and limited the productive ability of many of our associates who were in our concentrix segment , particularly during the second quarter of fiscal year 2020 . story_separator_special_tag revenue in our technology solutions segment increased in fiscal year 2020 compared to fiscal year 2019 primarily due to a demand for technology equipment as covid-19 related government mandated shelter-in-place restrictions during the second , third and fourth quarters of fiscal year 2020 led to increased needs for remote work , learn and consume related solutions . on a constant currency basis , revenue in our technology solutions segment increased by 5.2 % during fiscal year 2020 , compared to fiscal year 2019. concentrix segment revenue increased slightly in fiscal year 2020 , compared to fiscal year 2019 , due to growth with technology , retail and ecommerce clients partially offset by lower demand from media , communications , travel , tourism and automotive clients . during fiscal year 2020 , concentrix revenue was impacted by the covid-19 related government mandated shelter-in-place restrictions in several countries in the world . these restrictions adversely impacted our revenue due to the inability of a significant 32 table of content number of our associates to work despite client demand . this impact was most acute in the second quarter of 2020. our revenue was also unfavorably impacted by the translation effect of foreign currencies . gross profit replace_table_token_10_th our technology solutions gross margin is affected by a variety of factors , including competition , selling prices , mix of products and services , product costs along with rebate and discount programs from our suppliers , reserves or settlement adjustments , freight costs , inventory losses , acquisition of business units and fluctuations in revenue . concentrix margins , which are higher than those in our technology solutions segment , can be impacted by resource location , client mix and pricing , additional lead time for programs to be fully scalable , and transition and initial set-up costs . technology solutions gross profit increased in fiscal year 2020 , as compared to the prior fiscal year , primarily driven by strong demand for technology products as covid-19 related government mandated shelter-in-place restrictions during the second , third and fourth quarters of fiscal year 2020 led to a greater need for remote work , learn and consume related solutions . this increase was partially offset by lower margins due to product mix from our projects and integration-based server solutions and incremental covid-19 related costs of approximately $ 10.4 million . our concentrix segment 's gross profit and margin decreased during fiscal year 2020 as compared to the prior fiscal year , due to the incremental impact of $ 76.0 million in covid-19 related non-productive workforce and other costs , which was most acute during the second and third quarters of fiscal year 2020 , as we transitioned our workforce to work remotely . selling , general and administrative expenses replace_table_token_11_th our selling , general and administrative expenses consist primarily of personnel costs such as salaries , commissions , bonuses , share-based compensation and temporary personnel costs . selling , general and administrative expenses also include cost of warehouses , delivery centers and other non-integration facilities , utility expenses , legal and professional fees , depreciation on certain of our capital equipment , bad debt expense , amortization of our non-technology related intangible assets , and marketing expenses , offset in part by reimbursements from our oem suppliers . selling , general and administrative expenses in our technology solutions segment increased in fiscal year 2020 , compared to fiscal year 2019 , primarily due to an increase in allowance for doubtful accounts and higher salaries and employee related expenses due to covid-19 . incremental costs related to covid-19 were approximately $ 33 million for fiscal year 2020. in addition , we incurred $ 7.4 million in transaction costs related to the separation of concentrix . these increases were partially offset by a $ 3.7 million decrease in amortization of intangible assets . technology solutions selling , general and administrative expenses as a percentage of revenue in fiscal year 2020 , was consistent with the prior fiscal year . concentrix selling , general and administrative expenses decreased , in both absolute dollars and as a percentage of revenue , in fiscal year 2020 , compared to the prior fiscal year , primarily due to lower facility and employee costs as a result of integration and 33 table of content facility rationalization undertaken in fiscal year 2019 in connection with the acquisition of convergys corporation as well as the impact of reduction in variable operating expenses and discretionary spend due to covid-19 related remote work . the decrease in the current fiscal year was also caused by an $ 18.9 million reduction in the amortization of intangible assets and a decrease in transaction-related and integration expenses by $ 33.0 million as compared to the prior year . these decreases were partially offset by incremental technology and health and safety c osts of approximately $ 10.0 million due to covid-19 related remote work . operating income replace_table_token_12_th operating income in our technology solutions segment increased during fiscal year 2020 , compared to the prior year , primarily due to broad based growth , decreases in the amortization of intangible assets and transaction-related expenses . these increases were partially offset by the impact of covid-19 related incremental costs associated with allowances for doubtful accounts and higher salary and employee related costs . operating margin in our technology solutions segment decreased due to product mix . operating income and margin in our concentrix segment increased during fiscal year 2020 , compared to the prior year , primarily due to lower transaction-related and integration expenses and lower amortization of intangible assets partially offset by the impact of covid-19 related incremental costs . interest expense and finance charges , net replace_table_token_13_th amounts recorded in interest expense and finance charges , net , consist primarily of interest expense paid on our lines of credit and term loans , fees associated with third party accounts receivable flooring arrangements and the sale or pledge of accounts

