November 26, 2024 – For the fourth consecutive year, Cognizant has been recognized as a Leader in ISG’s annual Finance and Accounting Outsourcing (FAO) Report. In this year’s study, ISG compares provider strengths, challenges, and competitive differentiators across four primary areas of financial management: Procure to Pay (P2P), Order to Cash (O2C), Record to Report (R2R), and Financial Planning and Analysis (FP&A). Among the 28 companies highlighted, Cognizant was named a Leader across each of the 4 quadrants.

In this report, ISG highlights the global market positioning of P2P service providers and the key features of their accounts payable processes. These providers enhance their services and become market leaders, effectively meeting growing demands. Cognizant’s commitment to designing solutions with the goal to optimize P2P for clients, its industry-specific solutions, and integrated IT and services portfolio were all noted to be strengths contributing to the recognition. ISG lead analyst Gaurang Pagdi stated, “Cognizant pushes forward in the P2P market with automation and analytics, enhancing efficiency and supplier relationships while ensuring compliance and risk management.”

Cognizant’s flexible business model was praised in the O2C quadrant, along with its balanced market share. ISG notes that Cognizant is one of the few providers that have a diversified market portfolio. “Cognizant offers holistic Finance & Accounting (F&A) transformation capabilities and flexible business models. Its investments and acquisitions have started reaping benefits,” said Pagdi Learn more about Cognizant’s F&A advisory services here.

According to ISG, the primary challenges in the R2R process include high transaction complexity, regulatory compliance issues, data accuracy maintenance and technological transformation management. They say leading service providers in this quadrant use advanced technologies like automation, analytics and AI to improve workflows.

According to Gaurang Pagdi, “Cognizant’s R2R suite offers accuracy, compliance and efficiency through AI, automation and sustainability solutions for transformative client outcomes.”  Cognizant’s Neuro^®️ AI and Neuro^®️ Business Process platforms were both recognized by ISG for maximizing returns and minimizing risks for clients. Learn more about the full suite of Cognizant Neuro^®️ solutions here.

In the FP&A quadrant, ISG identified 12 leading service providers that demonstrate strong domain and technology expertise while leveraging cutting-edge technologies to enhance data analysis and offer integrated planning and reporting. When identifying Cognizant’s strengths in the FP&A category, ISG highlights Cognizant’s collaboration with leading providers. “Cognizant offers a robust technology partner ecosystem and industry-specific FP&A services” noted Pagdi. Pagdi also mentions that Cognizant “is committed to innovation through the Bluebolt initiative,” which is a grassroots innovation program designed to empower employees to contribute innovative solutions accelerating idea generation and implementation.

For more information on Cognizant’s placement and its Leader recognition, read the full ISG Provider Lens™ FAO Services report here.

About ISG Provider Lens™  
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services across multiple geographies globally.

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