Cognizant Market Research Report
Company Overview
Name: Cognizant
Mission of the Company
Engineering modern businesses to improve everyday life.
Founded
Cognizant was founded in 1994.
Founders
No information is available.
Key People
- Rajesh Varrier: Global Head of Operations and Chairman & Managing Director, India
- Babak Hodjat: CTO for AI
Headquarters
Teaneck, New Jersey, USA
Number of Employees
336,300 employees worldwide
Revenue
$19.4 billion
What is the Company Known For
Cognizant is known for helping companies modernize technology, reimagine processes, and transform experiences. They are recognized as leaders in data and AI, business process services, and strategic partnerships with renowned enterprises.
Products
Application Services
- Description: Services to develop, manage, and modernize client applications.
- Key Features: Innovation in software engineering, cloud solutions, and quality engineering.
Artificial Intelligence
- Description: Solutions to optimize business processes and enhance decision-making.
- Key Features: Decision AI, generative AI, intelligent process automation.
Business Process Services
- Description: Services to streamline and modernize business operations.
- Key Features: AI-driven automation, finance and accounting services, omnichannel customer care.
Cloud Solutions
- Description: Cloud-based services for scalable and reliable operations.
- Key Features: Cloud migration, cloud security, and cloud platform support.
Digital Strategy and Enterprise Platform Services
- Description: Strategic consulting and implementation of enterprise software solutions.
- Key Features: Digital transformation guidance, enterprise resource planning (ERP), platform integration.
Experience
- Description: Services to enhance customer and employee experiences.
- Key Features: Digital experience, customer experience (CX) transformation, and experience design.
Infrastructure Services
- Description: Comprehensive IT infrastructure management.
- Key Features: IT operational efficiency, cloud infrastructure management, cybersecurity.
Internet of Things (IoT)
- Description: IoT solutions to connect and manage devices.
- Key Features: IoT device integration, data management, IoT-driven business insights.
Sustainability Services
- Description: Solutions to foster sustainable business practices.
- Key Features: Environmental and social governance (ESG), sustainability consulting, eco-friendly tech solutions.
Recent Developments
New Acquisitions
- Belcan (Aug 27, 2024): Acquisition for $1.3 billion to enhance engineering research services.
- OneSource Virtual: Complementary to Cognizant’s Workday finance and human resources advisory implementation services.
- Mobica: Expands Cognizant's IoT-embedded software engineering practice.
Appointments
- Rajesh Varrier: Appointed as Global Head of Operations and Chairman & Managing Director, India (Aug 21, 2024).
New Partnerships
- Dine Brands Global A.I. Innovation Foundry (Aug 13, 2024): Collaboration to pioneer AI solutions in the restaurant industry.
- World Economic Forum: Partnership to chart progress on global challenges like responsible AI and education.
Awards and Recognition
- Newsweek: Named one of America’s Greatest Workplaces for Diversity (2023-2024).
- Fortune: Recognized as one of America’s Most Innovative Companies.
- Forbes: Listed as one of the World’s Best Employers.
- Human Rights Campaign Foundation: Top score in Corporate Equality Index (2023-2024).
Key Product Developments
- Generative AI Solutions: New applications to improve customer care and brand intelligence in the market research domain.
- Intelligent Process Automation: Enhancements in automation capabilities leading to significant operational efficiencies.
Industry Innovations
- Advanced AI Lab: Focuses on Decision AI using evolutionary and generative AI to optimize complex scenarios.
- Sustainability and Corporate Citizenship Programs: Efforts towards environmental sustainability and community education.
Revenue Highlights
- Operating Margin: GAAP and adjusted operating margins reported at 13.9% and 15.1%, respectively.
- Cash Flow: $2.3 billion from operations with $2.0 billion in free cash flow.
Conclusion
This report provides an in-depth look at Cognizant's foundational aspects, key product offerings, recent developments, and strategic moves that showcase its leadership in the IT services sector. With continuous efforts in innovation, sustainability, and strategic partnerships, Cognizant is positioned to maintain and expand its market influence globally.