Everest Group Recognizes Cognizant as a Leader in Capital Markets BPO
TEANECK, New Jersey, Jan. 10, 2013
- Cognizant's Success Attributed to Customer Focus, Market Scale, and
Process-Aligned Service Capability
TEANECK, New Jersey, Jan. 10, 2013 /PRNewswire/ -- Cognizant (NASDAQ: CTSH)
today announced that it has been named a Leader in capital markets business
process outsourcing by Everest Group, an advisory and research firm on global
Everest Group evaluated 14 global capital markets BPO service providers in the
recently released Capital Markets BPO Service Provider Landscape study ' A
PEAK into the Leaders, Major Contenders and Emerging Players of the Capital
Markets BPO '.
Cognizant was named a Leader on the basis of overall market success and
delivery capability. While market success was based upon the annualized
contract value, delivery capability was measured by the ability to deliver
services successfully along the four sub-dimensions of scale, scope, enabling
technology capability, and delivery footprint.
According to Everest Group, Leaders have a larger scale along with broader and
deeper client relationships, higher technology capability and investment in
tools and platforms, and wider delivery footprint and global delivery
"Our research shows that the relatively nascent Capital Markets BPO landscape
is fairly competitive now. Cognizant has achieved significant market success,
with a specific spike in the investment banking, and custody and fund
administration space, by leveraging its operational excellence focus,
technology capability, and balanced global delivery footprint, while building
on its acquisition of UBS' India Service Center," said Rajesh Ranjan, Vice
President, Everest Group.
"This recognition by Everest Group underscores Cognizant's distinctive ability
to re-imagine and modernize process work in global financial services
institutions, and enable capital markets decision makers to drive strategic
differentiation, new revenue sources, and dramatically rationalized costs,"
said Gajen Kandiah, Senior Vice President and Practice Leader for Business
Process Services at Cognizant. "The recognition validates our efforts to help
investment banks, brokerage houses, asset and wealth managers, and pension
trusts evolve rapidly to the changing market and regulations, and meet the
extraordinary requirements for service to their sophisticated client base."
About Cognizant's Business Process Services Practice Cognizant's Business
Process Services (BPS) practice provides industry-aligned solutions that
leverage Cognizant's deep industry knowledge, robust technology capabilities,
enterprise analytics offerings, and global consulting expertise. It offers
transformational end-to-end services to support innovation, growth, and
operational efficiencies to provide tangible business value. The BPS practice
focuses on industries including financial services, insurance, healthcare, and
life sciences to deliver effective BPO and platform-based process solutions.
It helps improve business agility by integrating state-of-the-art process and
technology with industry-specific solutions and back-office work such as
finance and accounting.
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 150,400
employees as of September 30, 2012, Cognizant is a member of the NASDAQ-100,
the S&P 500, the Forbes Global 2000, and the Fortune 500 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.
About Everest Group Everest Group is an advisor to business leaders on the
next generation of global services with a worldwide reputation for helping
Global 1,000 firms dramatically improve their performance by optimizing their
back- and middle-office business services. With a fact-based approach driving
outcomes, Everest Group counsels organizations with complex challenges related
to the use and delivery of global services in their pursuits to balance
short-term needs with long-term goals. Through its practical consulting,
original research, and industry resource services, Everest Group helps clients
maximize value from delivery strategies, talent and sourcing models,
technologies, and management approaches. Established in 1991, Everest Group
serves users of global services, providers of services, country organizations,
and private equity firms, in six continents across all industry categories.
For more information, please visit www.everestgrp.com and
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.
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Europe, Grazia Valentino-Boschi, + 33 (0)6 07 85 80 63,
email@example.com, or Asia-Pac, Harsh Kabra,
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