Cognizant Recognized as a Leader in Life Science Drug Safety Services in IDC
TEANECK, New Jersey, Feb. 13, 2013
TEANECK, New Jersey, Feb.13, 2013 /PRNewswire/ -- Cognizant (NASDAQ: CTSH)
today announced that it has been positioned as a Leader in the IDC Health
Insights "IDC MarketScape: Worldwide Life Science Drug Safety Services 2013
Vendor Assessment" (document number HI239221, dated February 2013).
The IDC MarketScape report evaluated leading drug safety services (DSS)
providers in the life science industry. The evaluation was based on a
comprehensive framework, and assessed services providers across key
characteristics, including functionality or offering road map, delivery model,
cost management strategy, portfolio strategy, customer base, go-to-market
capabilities, customer references, pricing model, sales/distribution strategy,
customer service strategy, marketing strategy, growth strategy, financial and
funding model, employee strategy, and innovation/R&D pace and productivity.
"While possessing demonstrated experience across the complete life science
value chain, Cognizant is strongest in its BPO and IT service offerings to the
industry," said the report. "Cognizant's life science drug safety services
team is the largest in the industry, a result of the company's success in
delivering higher-value drug safety services to its clients. This, combined
with Cognizant's strong investment-supporting growth and significant
commitment to development of industry-centric intellectual property, ensures
that the company can be expected to remain a leader in the field for years to
come," the report added.
"We are proud of this ranking because it validates our vision of helping life
sciences improve patient health by running better through cost and operational
agility and running different by innovatively addressing drug safety problems
and issues," said Gajen Kandiah, Senior Vice President and Practice Leader for
Business Process Services at Cognizant. "This recognition shows again that our
business process solutions, technologies, and talent are well positioned to
deliver exceptional value in line with core industry business requirements."
"Keeping patients safe is a cornerstone of the healthcare industry, and we are
pleased that our capabilities have been recognized by IDC Health Insights,"
said Krish Venkat, Executive Vice President of Cognizant's Healthcare and Life
Sciences practice. "Our customers are seeking new ideas on how to improve
health by better use of technology, analytical insights, and best-in-class
industry practices. This era of change and innovation in the life sciences
industry is tremendously exciting for all of us, and we are thrilled at the
opportunity to help our clients help their patients to be well."
"As outsourcing of the life science industry grows, the vendor ecosystem is
stepping up to deliver cost savings, agility, and operational excellence in
areas once considered to be core to top companies," said Alan S. Louie,
Research Director, Clinical Development Strategy and Technology at IDC Health
Insights. "Demonstrated delivery experience, deep understanding of drug safety
processes and platforms, and deep strategic drug safety expertise are all
paths to vendor success, helping many life science services organizations to
achieve sustainable growth that should continue for years to come."
About IDC MarketScape IDC MarketScape vendor analysis model is designed to
provide an overview of the competitive fitness of ICT (information and
communications technology) suppliers in a given market. The research
methodology utilizes a rigorous scoring methodology based on both qualitative
and quantitative criteria that results in a single graphical illustration of
each vendor's position within a given market. IDC MarketScape provides a clear
framework in which the product and service offerings, capabilities and
strategies, and current and future market success factors of IT and
telecommunications vendors can be meaningfully compared. The framework also
provides technology buyers with a 360-degree assessment of the strengths and
weaknesses of current and prospective vendors.
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 156,700
employees as of December 31, 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.
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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