Cognizant
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| Cognizant | |
|---|---|
| Industry | Banking & Financial Services
Communications Consumer Goods Education Energy & Utilities Healthcare Information Services Insurance Life Sciences Manufacturing Media & Entertainment Retail Technology Transportation & Logistics Travel & Hospitality |
| Founded | 1994 |
| Headquarters | 500 Frank W. Burr Blvd. Teaneck, NJ 07666 USA |
| Number of employees | 40,000 |
History
Cognizant is one of the world's leading professional services companies, transforming clients' business, operating and technology models for the digital era. Their unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant, a member of the NASDAQ-100, is ranked 230 on the Fortune 500 and is consistently listed among the most admired companies in the world. Cognizant began as Dun & Bradstreet Satyam Software (DBSS),[6][7] established as Dun & Bradstreet's in-house technology unit focused on implementing large-scale IT projects for Dun & Bradstreet businesses. In 1996, the company started pursuing customers beyond Dun & Bradstreet.[8] In 1996, Dun & Bradstreet spun off several of its subsidiaries including Erisco, IMS International, Nielsen Media Research, Pilot Software, Strategic Technologies and DBSS, to form a new company called Cognizant Corporation. Three months later, in 1997, DBSS renamed itself to Cognizant Technology Solutions. In July 1997, Dun & Bradstreet bought Satyam's 24% stake in DBSS for $3.4 million.[9][10] Headquarters were moved to the United States, and in March 1998, Kumar Mahadeva was named CEO.[11] Operating as a division of the Cognizant Corporation, the company mainly focused on Y2K-related projects and web development.[12] In 1998, the parent company, Cognizant Corporation, split into two companies: IMS Health and Nielsen Media Research.[13] After this restructuring, Cognizant Technology Solutions became a public subsidiary of IMS Health. In June 1998, IMS Health partially spun off the company, conducting an initial public offering of the Cognizant stock. The company raised $34 million, less than what the IMS Health underwriters had hoped for. They earmarked the money for debt payments and upgrading company offices.[12] Kumar Mahadeva decided to reduce the company's dependence on Y2K projects: by Q1 1999, 26% of company's revenues came from Y2K projects, compared with 49% in early 1998. Believing that the $16.6 billion enterprise resource planning software market was saturated, Mahadeva decided to refrain from large-scale ERP implementation projects. Instead, he focused on applications management, which accounted for 37% of Cognizant's revenue in Q1 1999.[8] Cognizant's revenues in 2002 were $229 million, and the company had zero debt with $100 million in the bank.[12] During the dotcom bust, the company grew by taking on the maintenance projects that larger IT services companies did not want.[14] In 2003, IMS Health sold its entire 56% stake in Cognizant, which instituted a poison pill provision to prevent hostile takeover attempts.[12][15] Kumar Mahadeva resigned as the CEO in 2003, and was replaced by Lakshmi Narayanan.[16] Gradually, the company's services portfolio expanded across the IT services landscape and into business process outsourcing (BPO) and business consulting. Lakshmi Narayanan was succeeded by the Kenya-born Francisco D'Souza in 2006. Cognizant experienced a period of fast growth during the 2000s, as reflected by its appearance in Fortune magazine's "100 Fastest-Growing Companies" list for ten consecutive years from 2003 to 2012.[17][18] In September 2014, Cognizant struck its biggest deal, acquiring healthcare IT services provider TriZetto Corp for $2.7 billion.[19] Cognizant Shares, rose nearly 3 percent in premarket trading.[
Offerings
Global companies who are facing competitive pressure to transform their legacy data systems into generators of real-time intelligence are turning to Cognizant for help.
Cognizant's unique and proven holistic AI methodologies help transform its client’s systems into next-generation intelligence platforms. Cognizant partners with our customers to help them gain an understanding of their data initiatives and rapidly develop solutions that achieve their business goals.
Approach
Cognizant is driven by passion: To help their customers build stronger, more agile and more innovative businesses. Cognizant is a leading provider of information technology, consulting and business process services. The company's dedicated employees offer strategic insights, technological expertise and industry experience. Their work is supported by a global delivery network that helps large organizations respond to the challenges of the Future of Work with virtual, flexible, scalable and efficient operations.
RETHINK, REINVENT AND REWIRE BUSINESS MODELS
Their clients today face a dual mandate: They need to drive efficiency and productivity as they cope with market and economic pressures. At the same time, they must invest in innovation to transform their businesses and open up new horizons of opportunity We help many of the world's leading companies address this dual mandate. They know that organizations cannot master 21st century challenges with 20th century strategies and methods. Business is being transformed by globalization, virtualization, a new generation of millennial workers and continual technology innovation. In response to the transformative forces that define the Future of Work, Cognizant is helping clients rethink, reinvent and rewire their businesses to apply the new SMAC business technology architecture (social, mobile, analytics and cloud) to their most significant challenges and opportunities. Cognizant focuses on helping organizations: Rethink their business models to change the ways they interact with their customers, employees and partners. They help them reshape their operations and processes to increase productivity and gain competitive advantage. Reinvent their workforces to reflect the millennial mindset and its flexible, open and inclusive approach to work. They can help companies adopt new tools to enable knowledge sharing and drive productivity and innovation. Rewire their operations that are being transformed by social networks, mobile devices, "big data" analytics and cloud computing. We can help clients use these technologies to find new ways to increase operational flexibility, lower costs and decrease time to market. Regardless of the challenges, Cognizant stands ready to help your organization embrace the Future of Work.
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Recent News
Cognizant ranked No. 3 in Healthcare Informatics magazine’s 2018 annual listing of the Top 100 healthcare information technology companies.
Cognizant’s 2018 ranking marks the 17th consecutive year the company has appeared on the list. The company has consistently placed among the top 10 companies featured on the annual HCI 100, which ranks companies by size based on revenues derived from healthcare IT products and services.
“We’re pleased to be included once again in the top tier of the Healthcare Informatics 100. Over the past year, we’ve continued to invest in our healthcare offerings, including our recent acquisitions of TMG Health to expand into the Government programs space and Bolder Healthcare to expand into the Provider RCM space,” said Kaushik Bhaumik, Executive Vice President and Global Leader, Healthcare. “As an organization, we continually strive to address industry trends and the market forces that drive business and IT decision-making using digital technologies for the purpose of streamlining front- and back-end processes, ultimately improving health outcomes.”
Healthcare Informatics 100: Cognizant Ranked Among the Top Three Healthcare Information Technology Companies of 2017
Cognizant ranked No. 3 in Healthcare Informatics magazine’s 2017 annual listing of the Top 100 healthcare information technology companies.
Cognizant’s 2017 ranking marks the 16th consecutive year the company has appeared on the list. The company has consistently placed among the top 10 companies featured on the annual HCI 100, which ranks companies by size based on revenues derived from healthcare IT products and services.
“The healthcare industry is seizing upon the numerous opportunities presented by digital technologies,” said Kaushik Bhaumik, Executive Vice President and Global Leader, Healthcare. “Our clients appreciate the foresight we bring to the table, as well as our ability to deliver solutions that drive results, as they look to bring digital technologies to their front office, middle office and back office processes. We’re pleased to have placed among the top three of the Healthcare Informatics list, demonstrating our continued investments and commitment to the industry.”
http://news.cognizant.com/healthcareinformatics-100-May31-2017 Cognizant to Launch Free New York City-Based IT Training Program to Create Employment Pipeline for In-Demand Technology Jobs June 19, 2017 Journal du Net, France: Europe Head of Cognizant’s Center for the Future of Work Says Financial Services Companies Must Embrace Highly Personalized, Integrated Services to Win in the Digital Era June 12, 2017 Cognizant and the University of Newcastle, Australia, Co-Innovate a Virtual Reality Solution to Transform Critical Neonatal Training June 8, 2017 FORTUNE: Cognizant Ranks No. 205 in FORTUNE 500 2017, Jumps 25 Places June 7, 2017 Pegasystems Honors Cognizant With 2017 Pega Partner Award for Driving Customer Success June 6, 2017 Digital News Asia, Singapore: Cognizant’s Chief Technology Officer Says Leveraging Artificial Intelligence and Machine Learning is About Translating Algorithmic Business into Data Science Industrial Automation Asia, Singapore: Cognizant’s Head of Innovation for Manufacturing and Logistics Says Asian Manufacturers Must Leverage Digital to Future-Proof Their Businesses Cognizant Wins 2017 Microsoft Data Platform Partner of the Year Award Insurance Business, Australia: Cognizant’s Global Head of Insurance Says Automation and Artificial Intelligence will Empower ― not Replace ― Brokers Healthcare Informatics 100: Cognizant Ranked Among the Top Three Healthcare Information Technology Companies of 2017 Control Engineering Asia: Cognizant’s Head of Innovation for Manufacturing and Logistics Says Asian Manufacturers Need Newer Paradigms of Productivity, Operational Visibility and Risk Management to Stay Competitive CIOReview, US: Cognizant’s Associate Vice President, Center for the Future of Work Discusses the Work Ahead for Digitized Business Processes The Economic Times ― ET Retail: Cognizant’s Global Head of Delivery for Retail and Consumer Goods Says AR and VR are Taking Omnichannel Retail to the Next Level Retail Information Systems, US: Cognizant Executives Discuss Blockchain’s Revolutionary Impact on Retail The Business Times, Singapore: Cognizant’s APAC Head Says Artificial Intelligence Helps Improve the Human Role in Organizational Operations Techworld, Australia: Cognizant’s Head of Products and Resources in ANZ Says Realizing the Full Value of IoT Needs More Than Just Connecting New Devices
References
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