Cognizant has been named one of the top digital transformation service providers for utilities in research firm Horses for Sources’ HFS Industry Blueprint: Utility Operations (2018). The report notes that the utilities industry is experiencing unprecedented changes in the way energy, particularly electricity, is produced and consumed around the world. The disruption to century-old business models is forcing utilities to accelerate digital transformations and deploy cutting-edge technologies to improve service and competitiveness.
The HFS report analyzed 18 top service providers and examined how the service provider landscape is supporting and enabling the digital transformation of utilities. Cognizant was recognized within the HFS “Winner’s Circle” for its innovation, strong digital capabilities, and mature industry-specific services focused on evolving requirements.
“Digital transformation is at the top of the agenda for utility executives,” said Derk Erbé, VP Industry Research, HFS Research. “By 2022, we project that the market size for IT and business process services in utilities will be $51.7 billion with intelligent automation, smart analytics and other digital technologies playing a major role in investments. Our assessment of Cognizant’s focus and investments in areas ranging from customer experience to IoT combined with deep industry experience and execution have placed it in the Winner’s Circle.”
“From engaging the end consumer, to modernizing the grid, to automating the meter-to-cash process, to predicting outages, utilities are dramatically changing the way their businesses operate with digital,” said Raj Radhakrishnan, SVP and Global Markets Head of Manufacturing, Logistics, Energy & Utilities Practice at Cognizant. “Our industry expertise, consultative capabilities, technology leadership, and consistent delivery is helping companies around the world maneuver through market disruptors by rapidly and successfully modernizing their operations as well as optimizing platforms and business processes to support the new requirements of their customers and stakeholders.”
To view the HFS Industry Blueprint: Utility Operations 2018 report, click here.