December 12, 2023 - Cognizant has been recognized as a Leader in ISG’s annual Finance and Accounting Outsourcing (FAO) 2023 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 the area of P2P, ISG assessed service providers that cover the complete range of the accounts payable process. ISG analyst Gaurang Pagdi stated, “Cognizant’s diverse market share, high client engagement and automation-driven capabilities make it a trusted partner in Finance & Accounting.”

The O2C market evolves with service providers offering tailored solutions for businesses. Leveraging industry expertise, partner ecosystems and advanced tech, they deliver comprehensive O2C services. In this segment, Cognizant’s investments and acquisitions were noted to be a strength as well as its services beyond traditional F&A. Learn more about Cognizant’s F&A advisory services here.

The leading service providers in the R2R segment empower CFOs to focus on their core business, get real-time insights to make quick decisions and enable their finance departments to function more accurately and effectively. The report highlights Cognizant’s robust digitization and automation solutions that enable faster implementations, standardized processes, and improved agility for its clients.

In the FP&A quadrant, ISG recognized Cognizant’s delivery of notable outcomes that contribute to more efficient and effective analytics for their clients. “Cognizant’s comprehensive FP&A suite empowers businesses with efficient reporting, streamlined budgeting and enhanced decision support for better insights and informed decision-making,” noted Gaurang Pagdi.

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.