TEANECK, N.J., March 4, 2020 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) has been named a Leader in business process services (BPS) for life sciences companies by consulting and research firm Everest Group. In the Life Sciences (LS) Operations – Services PEAK Matrix® Assessment 2020, Cognizant was noted for its investments in digital technologies and significant client base, as well as revenue and employee count buoyed by several multi-year and multi-segment client engagements.
Analyzing the market share, strengths and areas for improvement of 24 global service providers, Everest Group found Cognizant to be a Leader. Cognizant's service portfolio and cost-efficient, automation-driven capabilities in the pharmacovigilance segment were cited as examples of its value against competitors. Additionally, the report recognized Cognizant's acquisition of Zenith Technologies, which strengthened the company's IoT capabilities and demonstrated it as a leader in embedding advanced technology within operational platforms.
Cognizant's Shared Investigator Platform (SIP) was also recognized as an important asset to its business offerings. SIP launched in 2016 and is one of the first multi-tenant, single sign-on platforms enabling clinical trial information, operations, administrative documents and tasks to be shared across sponsors and their sites. While operational processes can account for 45% to 75% of the time and cost of clinical trials, the Cognizant-hosted platform's secure, common workspace for enhanced collaboration provides a faster, more cost-effective means to manage clinical trials among stakeholders. This can result in breakthrough therapies and drugs being made available sooner. As the industry's premier open collaborative platform for clinical trial management, SIP has been adopted by multiple large pharmaceutical companies and has been proven to enhance clinical trial efficiencies and execution.
"The life sciences industry is at an inflection point where enterprises are realizing the value of partnering externally to not just improve costs but also bring about innovation," said Manu Aggarwal, Vice President at Everest Group. "Cognizant's strong portfolio in clinical operations and pharmacovigilance complemented by its continuous investments in solutions, platforms and automation/AI is helping buyers enhance operational efficiencies and realize more value."
"The life sciences industry is evolving at a rapid speed as technology becomes more integrated into the development of new therapies," said Srinivas Shankar, Senior Vice President and Global Head for Cognizant's Life Sciences business. "These platforms and customer momentum helped fuel our double-digit growth in life sciences in 2019. Cognizant's continued investments in industry-shaping assets are emblematic of our commitment to helping clients achieve meaningful business outcomes and increased operational efficiencies. This investment, combined with our deep domain expertise, is transforming processes such as drug development, manufacturing and commercialization to ultimately bring life-saving drugs to patients faster."
To view an extract of the Everest Group PEAK Matrix Report, visit: https://www.cognizant.com/Resources/everest-group-peak-matrix-for-life-sciences-operations-service-providers-2020-focus-on-cognizant.pdf
Learn more about Cognizant Life Sciences Technology Solutions: https://www.cognizant.com/life-sciences-technology-solutions
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 193 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