TEANECK, N.J., Aug. 15, 2017 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today announced it has been named to the "Winner's Circle" in the HfS Research Blueprint Report: Utility Operations. HfS Research is a leading independent global analyst firm for the business and IT services industry.
The HfS Blueprint analyzes the innovation and execution capabilities of 14 major service providers, focusing on business process, information technology and engineering services across the utility value chain. Service providers named to the Winner's Circle are ranked by HfS as the highest overall performers, working "in collaborative engagements with clients and making recognizable investments in talent and technology capabilities to increase value, using business process as-a-service (BPaaS) to deliver insight driven services."
Cognizant is recognized by HfS for its depth of utility industry-specific capabilities, overall vision and delivery excellence, strategic relationships, Internet of Things (IoT) investments and implementation, and innovation in new commercial models to help clients evolve from legacy systems. Other Cognizant strengths noted by HfS include:
- Advancements in As-a-Service Commercial and Delivery Models: HfS cited Cognizant's investments to enable an as-a-service approach to partnering, contracting and delivering services. Investments include establishing Collaboratory facilities in New York, Amsterdam, Melbourne and London; enhancing design thinking and co-innovation capabilities; and making acquisitions like KBACE and Odecee that bolster as-a-service and digital support.
- Investments in Intellectual Property and Innovation: Cognizant is focused on creating IP in areas like automation and drones to fuel new value for utility clients. The company leverages 60+ proprietary tools and platforms across the value chain in areas like smart grids, customer experience management, contact center modernization, demand side management, GIS, renewables, and work and asset management.
- Delivery of Accessible and Actionable Data: Cognizant provides an array of utility-specific analytics to clients through frameworks containing analytics, touch points, use cases, and a KPI library, to enable utilities in their data-driven transformation. These frameworks include: UTOPIA (Utilities Transformation through Optimization, Predictive and Insightful Analytics) Framework, Smart Analytics on BigDecisions, and Smart Meter Event Processing Engine.
- Delivery Excellence: Clients cite Cognizant's focus on collaboration and "deep understanding of utilities" when discussing its ability to deliver on commitments.
"The utility industry has immense challenges ahead, with an influx of new technologies, rising costs, greater demand, and changing expectations from consumers, regulators and society at large in how they operate," said Derk Erbé, Research Vice President, Supply Chain, Procurement and Energy, at HfS. "Leaders like Cognizant, who are proven innovators and delivery experts, are the partners utility industry clients are seeking to redesign mature operating models for flexibility and efficiency, with deep expertise in delivering as-a-service platform solutions. Cognizant excels in this and in implementing new technologies like IoT and automation to help clients drive better business outcomes and consumer experiences."
"Utilities are at an inflection point and have game-changing decisions to make as a myriad of developments like IoT, analytics and robotics cause disruption. Digital initiatives are creating business opportunities once previously thought to be out of reach, and in this era of 'water as the new oil', utilities' business models are undergoing a fundamental shift," said Raj Radhakrishnan, Senior Vice President and Head of Manufacturing, Logistics, Energy and Utilities, at Cognizant. "Cognizant has invested in building capabilities to enable our utility clients to navigate this shift by effectively leveraging digital business models and technologies. We are pleased that HfS has recognized Cognizant's capabilities in delivering innovative solutions that cover the entire utility value chain, from generation to distribution to retail. These solutions help our clients better engage with their customers while running more efficiently and with lower risk."
Read a summary of the HfS Research Blueprint Report: Utility Operations here.
About HfS Research
HfS Research is The Services Research Company™—the leading analyst authority and global community for business operations and IT services. The firm helps enterprises validate their global operating models with world-class research and peer networking. HfS Research coined the term The As-a-Service Economy to illustrate the challenges and opportunities facing enterprises needing to re-architect their operations to thrive in an age of digital disruption, while grappling with an increasingly complex global business environment. HfS created the Eight Ideals of Being As-a-Service as a guiding framework to help service buyers and providers address these challenges and seize the initiative.
Cognizant (NASDAQ-100: CTSH) is one of the world's leading professional services companies, transforming clients' business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 205 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.