- Cognizant's industry expertise and solutions, including the AI-led Cognizant Neuro®️ suite of platforms, integrated with ServiceNow's intelligent platform for end-to-end digital transformation, are expected to accelerate the path toward building a combined $1 billion business
- Cognizant is ServiceNow's lead launch partner for end-to-end observability solutions for cloud applications across industries
- Cognizant's newly formed internal ServiceNow Business Group will bring to market AI-powered, integrated offerings designed to deliver next-generation, cost-optimized solutions for clients
TEANECK, N.J. and SANTA CLARA, Calif., June 28, 2023 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) and ServiceNow (NYSE: NOW) today announced a strategic partnership to advance adoption of AI-driven automation across industries. The expanded alliance is expected to help accelerate the path toward building a $1 billion combined business for Cognizant and ServiceNow.
Cognizant's ServiceNow Business Group will help joint clients challenged by rising costs, growing tech debt, manual processes and sub-optimal customer experiences deploy AI to help drive improvements in three key areas:
- Enriched operational effectiveness – reimagined managed services to improve the effectiveness of IT and promote business stability.
- Enhanced experience – powered by the Cognizant Neuro®️ suite of AI-led platforms to transform siloed customer, employee and business experiences to a unified, total experience.
- Expedited innovation – leveraging the power of Cognizant domain IP and ServiceNow industry solutions to allow faster innovation and time to market.
"Across sectors, firms strive to improve their competitiveness, optimize operations, and deliver better overall experiences, but face challenges around platform silos and intensive, manual workflows," said Ravi Kumar S, Cognizant CEO. "Cognizant and ServiceNow are well-positioned to address these challenges through the combination of our deep industry expertise, enterprise AI solutions and ServiceNow's powerful platform, delivering innovative, cost-effective solutions that enhance the value of our clients' products and services to their end customers."
"Every CEO is in an innovation race right now. The winners will embrace AI-led transformation to reinvent how they do business," said ServiceNow Chairman and CEO Bill McDermott. "By combining the power of Cognizant's solutions and services with the intelligent platform for end-to-end digital transformation, we will accelerate automation to solve our customers' toughest challenges. This means organizations in every industry from healthcare and life sciences to financial services, can keep pace in this ever-changing environment."
Cognizant's multi-disciplinary ServiceNow Business Group significantly expands the decade-long relationship between the companies and will bring to market integrated offerings designed to solve complex problems, automate operations and enhance employee and end-customer experiences through the use of AI.
By integrating the power of the Now Platform®️ and ServiceNow's industry product solutions with Cognizant's domain expertise and IP, clients will be empowered to move beyond siloed decision-making and leverage data across the enterprise to drive enhanced business differentiation, including:
- Elevating customer and employee experiences across the enterprise through generative AI and hyperautomation of ERP systems.
- Delivering next-generation service operations through cloud observability, AIOps and strategic portfolio management.
- Optimizing workflows such as onboarding, credentialing, and contract and audit management, to streamline inter-enterprise processes and real-time data exchange.
- Simplifying contact center management to drive personalized engagement and improve retention.
- Improving asset management for proactive maintenance and procurement.
- Enabling effective pathways to net zero emissions through ServiceNow's ESG solution that helps companies activate ESG strategies programs and initiatives, and Cognizant's deep IoT expertise and knowledge of ESG processes.
To learn more about the Cognizant ServiceNow partnership, visit this page.
Use of Forward–Looking Statements
This press release contains "forward–looking statements" about the expectations, beliefs, plans, and intentions relating to the strategic partnership between Cognizant and ServiceNow to accelerate adoption of AI-driven automation across industries and expand market growth and/or opportunity. Such statements include statements regarding future product capabilities and offerings and expected benefits to the combined business. Forward–looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward–looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, each of Cognizant's and ServiceNow's results could differ materially from the results expressed or implied by the forward–looking statements made. Neither Cognizant nor ServiceNow undertakes any obligation, and neither of them intends, to update the forward–looking statements. Factors that may cause actual results to differ materially from those in any forward–looking statements include: (i) delays and unexpected difficulties and expenses in executing the partnership, delivering the product capabilities and offerings, or in achieving market growth and/or opportunity (ii) changes in the regulatory landscape related to AI, and (iii) uncertainty as to whether sales will justify the investments in the product capabilities and offerings. Further information on factors that could affect Cognizant's and ServiceNow's financial and other results is included in the filings each of Cognizant and ServiceNow, respectively, makes with the Securities and Exchange Commission from time to time.
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.
ServiceNow (NYSE: NOW) makes the world work better for everyone. Our cloud–based platform and solutions help digitize and unify organizations so that they can find smarter, faster, better ways to make work flow. So employees and customers can be more connected, more innovative, and more agile. And we can all create the future we imagine. The world works with ServiceNow™. For more information, visit www.servicenow.com.
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SOURCE Cognizant Technology Solutions