STOCKHOLM, March 31, 2011 /PRNewswire/ -- Cognizant (Nasdaq: CTSH), a leading provider of consulting, technology, and business process outsourcing services, today announced that it has been selected by Volvo Car Corporation to deliver a broad spectrum of Finance and Accounting (F&A) services.

As part of the deal, Cognizant will operate and optimize Volvo Car Corporation's F&A processes, while improving cost effectiveness and service delivery. Cognizant will participate in the entire value chain of F&A services ranging from accounts payables, receivables and fixed assets, to accounting, general ledger and periodic end closing, along with procurement services for production and non-production materials.

"We are pleased to have been selected by Volvo Car Corporation for their entire range of F&A services," said Santosh Thomas, Senior Vice President and Head of Continental European Operations for Cognizant. "We look forward to leveraging innovative service models and best practices in F&A transaction processing to help Volvo Car Corporation realize process improvements, increase automation, drive cost efficiencies, enhance business effectiveness and improve productivity."

About Cognizant

Cognizant (Nasdaq: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services, dedicated to helping the world's leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work. With over 50 delivery centers worldwide and approximately 104,000 employees as of December 31, 2010, Cognizant is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 1000 and is ranked among the top performing and fastest growing companies in the world. Visit us online at www.cognizant.com or follow us on Twitter: Cognizant.

Forward-Looking Statements

This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.