Cognizant (NASDAQ: CTSH), a leading provider of IT and business process outsourcing services, today announced that it was among the select companies that Forrester invited to participate in The Forrester Wave: North American Applications Outsourcing Q1 2007. In this evaluation, Cognizant was recognized as a leader in the report and cited as the top offshore provider for North American applications outsourcing.
"Among leading Indian offshore firms, Cognizant received the highest overall grade for cultural fit while remaining price-competitive," states the report by Forrester Research. "Cognizant performed well in our analysis because of a variety of strengths. One that stood out in particular was its cultural affinity with US clients. 'What makes them so good is their ability to understand the U.S. culture,' said one customer reference, who rated Cognizant as its top applications outsourcing (AO) provider. Cognizant also exhibited strong price competitiveness: a one-two punch that helps to explain its rapid growth."
The rankings represent Forrester's selection of the top performers from each of the major categories that make up the North American Applications Outsourcing Providers -- multinational corporations (MNC's) and offshore players. Top companies in each sector were chosen based on current offerings (technical, engagement and functional approach; client references; and complementary capabilities), strategy (solution and corporate) and market presence (based on customer base, financial performance and engagement profile).
"We are honored to be recognized by Forrester for our applications outsourcing strategy, cultural fit and global delivery capabilities," said Francisco D'Souza, President and CEO, Cognizant. "What distinguishes Cognizant in the applications outsourcing market is our utmost focus on client satisfaction and our commitment to delivering higher returns on their IT outsourcing investment. This recognition is a testament to the hard work and dedication of our talented employees around the world, and to our deep and long experience in Applications Outsourcing, which has resulted in the maturity and completeness of our offerings."
For complete details on Cognizant's ranking or to receive a copy of the report, please go to www.cognizant.com/go/AOWave
About Cognizant's Applications Outsourcing Approach
Cognizant takes a holistic approach to managing outsourcing engagements via its unique relationship management model. Cognizant tracks a client engagement at various levels to ensure that all aspects -- project delivery, infrastructure, quality processes, resource management and financial issues -- are addressed.
Cognizant (NASDAQ: CTSH) is a leading provider of IT and business process outsourcing services. Focused on delivering strategic information technology solutions that address the complex business needs of its clients, Cognizant uses its own on-site/offshore outsourcing model to provide applications management, development, integration, and reengineering; infrastructure management; business process outsourcing; and numerous related services, such as enterprise consulting, technology architecture, program management, and change management.
Cognizant has over 40,000 employees who are committed to partnerships that sustain long-term, proven value for customers by delivering high-quality, cost-effective solutions through its development centers in India and on-site client teams. Cognizant maintains P-CMM, SW-CMM and CMMI Maturity Level 5 assessments from an independent third-party assessor and ranked among the top information technology companies in Business Week's Hot Growth Companies. Cognizant is a member of the NASDAQ-100 Index and the S&P 500 Index. Find additional information about Cognizant at www.cognizant.com.
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.
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