Cognizant (NASDAQ: CTSH), a leading provider of consulting, technology, and business process outsourcing services, has been recognized as an emerging challenger in the technology-enabled business services market, according to a July 2009 Forrester Research, Inc. report entitled, "SWOT: The Evolution of IT Service Providers to Business Technology Competitors." The report states, "Cognizant's clear focus on vertical market expertise is helping it drive deeper into business processes in an attempt to move up the value chain."
According to the report, "For years, [leading companies in this market] have based their value propositions on the ability to provide comprehensive business solutions. While many IT service providers offer complete technology services, these [leading] firms distinguish themselves through their 'end-to-end' technology services and their proactive business-focused marketing approach. At the same time, these market leaders are facing new competition from companies like Cognizant that recognize that perhaps the best opportunity to create differentiation and value amid a new wave of global competition is through increased business alignment."
"Cognizant has emerged a global leader in business and IT services," said Francisco D'Souza, President and CEO, Cognizant. "We are gratified that Forrester cites our vertical industry depth and strong client relationships as our key competitive differentiators. Our continued investment in our Cognizant Business Consulting (CBC) practice, client relationships, and domain expertise, along with our strategy of focusing on providing industry-aligned business process outsourcing, are helping clients find opportunities to address both the cyclical challenges of the economic downturn and the structural challenges that their industries are facing."
"Through our business consulting practice, we are increasingly becoming trusted advisors to CXOs," said Mark Livingston, Senior Vice President, Cognizant Business Consulting. "We deliver a broad range of strategic consulting services aimed at reducing cost, improving operational efficiency, and driving globalization, innovation and business agility. By making our offerings deeper and more strategic to our clients' businesses, we are enabling true business transformation."
The Forrester report focuses on four leading providers of technology-enabled business services - including process consulting, transformation services, system integration, business process management, and business process outsourcing (BPO) - that are making technology more strategic for businesses and are receiving more attention from senior business executives. It explores factors related to each company's strategy, solutions, and go-to market approach.
To learn more about the Forrester report, "SWOT: The Evolution of IT Service Providers to Business Technology Competitors" by Chris Andrews, with Jonathan Penn, Pascal Matzke, and Edward Radcliffe, published July 2009, please visit www.forrester.com.
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services. Cognizant's single-minded passion is to dedicate our global technology and innovation know-how, our industry expertise and worldwide resources to working together with clients to make their businesses stronger. With more than 50 global delivery centers and approximately 63,700 employees as of March 31, 2009, we combine a unique onsite/offshore delivery model infused by a distinct culture of customer satisfaction. A member of the NASDAQ-100 Index and S&P 500 Index, Cognizant is a Forbes Global 2000 company and a member of the Fortune 1000 and is ranked among the top information technology companies in BusinessWeek's Hot Growth and Top 50 Performers listings. Visit us online 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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