Financial Chronicle: Cognizant’s Group Chief Executive for Technology and Operations Shares Assessment of the European Market and Demand for SMAC Technologies

“The stronger demand in Europe was driven by a number of large outsourcing deals we won in the last few quarters,” says R. Chandrasekaran. “Europe remains an attractive long-term market. The IT services market in Europe is about the same size as North America, but the penetration levels are only a fraction of it. Over the years, we have focused heavily on building front-end capability in Europe and strengthening local presence, which is driving strong growth in Europe. The trend of European clients adopting long-term outsourcing programs continues to gain traction.”

He says that Cognizant is seeing growing client adoption of social, mobile, analytics, and cloud, or “SMAC” technologies. “Over the last 18 months, we’ve built out our capabilities in each of the SMAC areas – both in terms of end-to-end services and also in terms of intellectual property and thought leadership. Our solutions in these areas are a key part of our service to help our clients “run different” and we have a solid pipeline of opportunities. This year, we expect to deliver about $500 million in SMAC related services. While the significant majority of this work will be done with our existing client base, we are also pleased to see many new clients whose first engagement with Cognizant is in the SMAC area,” he adds.

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