Drawing on extensive knowledge of our clients’ industries, business models and technology environments, we’ve come to see that inside every business is a more cognizant one. A more cognizant business is future-oriented, responds rapidly to changes in its environment, excels at perceiving what customers will want next, and is continuously alert to everything going on across its operations—all because the enterprise is digital to the core.
CAGR (5-yr): 13%
CAGR (5-yr): 11%
through dividends and share repurchases
In 2018, we expanded our digital, geographic, and industry capabilities
Digital product engineering
Salesforce consulting, Asia-Pacific
Healthcare revenue cycle management
Consulting and analytics, Europe
down from $5.1B at the close of 2017
More cognizant companies know that to compete and grow, they must deepen the connection between their offerings and their customers. So, we’re helping clients pinpoint areas of opportunity with artificial intelligence and analytics. By uncovering insights using a combination of human understanding and data modeling, these businesses are adapting to give their customers what they want, at the higher speed and lower cost they need.
Cognizant’s industry-specific AI & Analytics solutions help businesses and their employees know more.
HFS Winner’s Circle: Enterprise AI Services and Smart Analytics
Microsoft Big Data Analytics Partner of the Year
One of the world’s leading insurers wanted to serve customers round-the-clock in the Hong Kong market, a region where contact centers are often shut down by typhoons and heavy rains. Cognizant helped this multinational company, doing business in more than 80 countries, create the first AI-enabled virtual agent in the Hong Kong insurance space. Fluent in two languages, which local customers often use interchangeably, the chatbot can respond to 600 FAQs (in Cantonese, English, or a mixture of both) about policy purchases, coverage, claims, and more.
The offshore oil and gas installations Norwegian-based Kvaerner engineers are some of the largest structures ever moved by man, taking up to 1.5 million hours to build. Leveraging digital processes, AI and machine learning, Cognizant helped Kvaerner optimize the design and deployment of these structures—significantly reducing construction time and effort on every project, every shift, every day. Kvaerner has already identified opportunities to reduce the hours it takes to erect and dismantle scaffolding by 25%, and expects that to increase as they continue to streamline processes. And thanks to the mobile devices in their hands, those construction workers and operators have all the information they need to perform their work more efficiently and accurately, reducing errors.Watch the video
When companies are more cognizant, they’re aware of operational speed bumps and customer pain points, and look for ways to use technology to leap ahead. By creating proven platforms and solutions designed to meet an industry’s most pressing needs, Cognizant is helping clients reinvent how their employees deliver their most important products, services, and experiences to their customers.
Cognizant leverages its deep knowledge of the essential processes in 20 industries to create platforms that improve employee productivity, customer satisfaction, and operational performance.
HFS Winner’s Circle: Insurance, Utilities Operations, and ServiceNow Services Blueprints
With medical costs rising sharply, insurers face a big challenge: how can they provide injured employees with the care they deserve, and stay profitable? To help, Cognizant created Optima MedWise™, a software platform with dedicated support from registered nurses. By comparing individual claims against a database of similar cases, MedWise users can develop effective treatment plans while identifying charges that may be unnecessary or excessive for clinical review. With MedWise, one top-five workers’ compensation insurer has avoided $50 million in cost exceptions in just one year, by paying 40% of claims automatically.Learn More
Geisinger Health System, a hospital system and health plan provider serving more than 1.5 million patients, wanted to drive innovation and support membership growth. Partnering with Cognizant, Geisinger migrated its legacy administrative system to the TriZetto Facets® Core Administration Platform, a leading administration solution for payers. Offering comprehensive capabilities in a single system, Facets improves workflows, compliance reporting, and cost-efficiency. Just four weeks later, Geisinger was able to settle 75% of Medicaid claims automatically—an increase of 50%—while achieving healthy improvements in cost savings and customer satisfaction, too. More gains are expected as users become more familiar with the system.Learn more about TriZetto Facets®
Companies that are more cognizant don’t just think about what’s ahead—they design their entire business around it. We help clients respond to future customer needs quickly by modernizing their technology backbones with an integrated approach across infrastructure, applications, data, and security. Companies that renew their systems are ready to overdeliver for customers, outscale competitors, and outperform growth targets.
Cognizant’s firsthand knowledge of the technology systems of the world’s leading companies enables us to help them deliver on the high expectations of their customers, accelerate innovation, and unlock new revenue opportunities.
A Leader in the Forrester Wave™: Applications Management and Digital Operations Services, Q4 2017
HFS Top 10: #3 in Infrastructure and Enterprise Cloud Services
This major—and growing—provider of loyalty and credit card services needed to upgrade its legacy data center to serve greater volumes of customer transactions. Cognizant led a core modernization project that helped Alliance Data create a virtual data center that can handle more than five million transactions a day while offering a better experience built on Cognizant’s IT automation platform, HiveCenter™. Now, customer satisfaction has soared, system reliability is way up, and operating costs are down by $10 million in the first year.
After a century of expansion and acquisition, Canadian grocery giant Loblaw Companies, which operates brands such as Loblaws supermarkets and Shopper’s Drug Mart, had cumbersome manual processes and unwieldy IT systems that left its food vendors, distribution centers and retail stores in disconnected silos, and its operating costs high. Cognizant replaced the company’s outdated custom-built solutions and tools with ServiceNow® Digital Flows, giving Loblaw a single, efficient platform that connects its IT systems, employees, business functions and supply chain seamlessly. Now, employees are onboarded faster, and the right products get to stores more quickly—critical in today’s ferociously competitive retail environment. The solution has also slashed help desk calls by 20%, support costs by 33%, infrastructure spending by $1 million a year, and perhaps most importantly, freed 25% of Loblaw’s software engineers to innovate with business teams instead of maintaining existing systems.
Rather than upgrading dozens of disparate systems, EmblemHealth, one of America’s largest non-profit healthcare systems, decided on a major transformation. Consolidating 16 core enterprise applications across three businesses, Cognizant migrated the company’s entire infrastructure to a pure cloud environment via the Oracle SaaS Cloud Program. EmblemHealth and Cognizant reinvented processes across finance, HR and the supply chain with 21 Oracle SaaS Cloud modules, dramatically increasing efficiency and effectiveness of essential business functions such as budget allocation, procurement, recruitment, onboarding, and employee performance management. Now, the company has a “single source of truth” on which to base key decisions, and its IT costs are 30-35% lower annually. Completed in just 11 months, this is one of the largest, fastest Oracle Cloud migrations ever done.
Covanta, a global leader in the growing waste-to-energy industry, had begun its technology modernization journey with a move to PeopleSoft in the cloud, but it still took months to spin up a test environment for a new application. Cognizant helped migrate Covanta to the all-cloud Oracle Cloud Infrastructure, and now it only takes two days to build a new PeopleSoft environment. The new platform has many simultaneous benefits—a 15-20% improvement in batch-processing performance, faster repair of outages, and improved security and governance—all while reducing annual infrastructure spending by 20%. All leaving Covanta better able to pursue its mission of creating sustainable waste and energy solutions that “ensure no waste is wasted.”
After several acquisitions and four-fold growth in net premiums written, Selective Insurance had a growing underwriting backlog that began to hinder its loss ratios and premium growth. The company saw tremendous opportunities for digital business transformation in its excess and surplus (E&S) lines, which insure specialized and complex risks. Because these policies are sold and delivered through general agents, they need to be captured in both systems, which can increase lead time before coverage begins. After an in-depth assessment of the E&S operating model, Cognizant designed a future-state system that streamlined processes, tightened controls, and automated policy reviews to free underwriters for more valuable tasks. With the new system, the underwriting team’s efficiency has improved by about 65%, revenue and profitability can be managed through real-time dashboards, and Selective and its agent partners can build business together on a state-of-the-art digital platform.
More cognizant companies understand that inside every customer or employee experience is an individual one. They know that how they make customers feel can be as important as price and product, and that the interfaces employees use in their jobs can determine how effective they are. So, Cognizant is helping clients design and deliver world-class experiences that are AI-driven, platform-enabled, and inspired by insight into our most human needs, wants, and ways of working.
Cognizant combines the creativity of an agency with the expertise of a global technology company, developing new experiences and managing marketing, commerce, and content efforts for almost every industry.
Demand for clean water—and the treatment systems that help create it, like BioBooster from Grundfos—is outpacing the supply of skilled engineers needed to maintain them. So, Cognizant and Grundfos, a global maker of pumps and water management equipment, built a virtual agent that can diagnose maintenance issues and suggest solutions. The virtual agent interacts with IoT-enabled components, such as dosing pumps, and with onsite technicians via a Microsoft HoloLens augmented reality dashboard and a chatbot. As a result, non-experts at remote facilities can handle complex repairs on their own, with guidance from Grundfos.
National Life Group, a 170-year-old company that is one of the fastest-growing life insurance companies in the U.S.1, was determined to create a 21st century customer experience. The company partnered with Cognizant to create a roadmap for advancing its overall digital strategy, including developing a new mobile app and enhanced web portal for policyholders. Now, customers can access their policies and conduct business securely any time, on any device—an important step ahead in this industry. National Life has already seen a 260% increase in self-service transactions and a 117% rise in monthly customer visits.
1 Among all reporting life insurance companies from 2007-2017 with individual life sales of at least $50 mm in 2007, LIMRA Sales Rankings, Q4 2017
When a company is more cognizant, its most essential resource—its people—are free from mundane work that saps the time needed for innovation. That’s why Cognizant is helping clients use automation to take operational performance to the next level: reducing inefficiencies, increasing accuracy, and responding immediately to challenges and customers.
Benefiting from our longstanding investments in vertical expertise, Cognizant automation changes how businesses work for the better, boosting performance by freeing employees to better serve their customers and innovate.
A Leader in the Forrester Wave™: Digital Process Automation Service Providers, Q3 2018
HFS Winner’s Circle: Banking Automation, Digital OneOffice Capabilities
Preparing for a sharp rise in claims, particularly in the coordination of benefits area, where payment responsibility must be allocated among several insurance plans, a leading provider of Medicaid and other government health programs in the U.S. looked to automation. Cognizant helped build a claims management system with Pega robotics process automation, integrating it into the insurer’s existing systems. Today, the more than 100 bots in production are resolving claims six times faster, and at a lower cost per claim.
MetLife set an aggressive corporate goal: save $1 billion over five years. To help get there, the company tapped Cognizant to automate key processes in the business unit that serves its insurance policyholders. Using a pod-based model that leverages the multidisciplinary skills of specialized teams, we analyzed business needs, created an operation-wide process landscape, identified automation priorities, and re-engineered processes to make them automation-ready. Cognizant is now developing bots to automate 30 processes, including billing, remittance and reconciliation. The intent is to deliver information more quickly and accurately, simultaneously raising productivity and improving the customer experience—and contributing $3.5 million to MetLife’s overall savings goal.
More cognizant businesses are able to design and deliver the products and experiences its customers need and want, rapidly. Cognizant helps clients innovate and scale swiftly, from modernizing the applications and platforms that have been at the heart of their business for decades, to designing, prototyping, and delivering new consumer-facing products and experiences. By embracing agile methods that put customers at the center, these businesses and their offerings become faster, smarter, and more capable every day.
Cognizant Softvision uses human insights and future-ready engineering practices to help clients build a new generation of software products and experiences at digital velocity.
HFS Winner’s Circle: Software Product Engineering
Pivotal Systems Integrator of the Year for Application Scale
Shell wanted to give its geologists and engineers better tools to make critical decisions about exploration and production in remote basins. Shell and Softvision, acquired by Cognizant in 2018, worked together to replace multiple legacy, third-party software applications, none of which provided a full picture of a well, with a single custom-built solution that can provide near real-time status alerts. The new software, employed across Shell’s North American exploration and production group, has resulted in higher productivity, lower costs per well, and a significant increase in drilling accuracy.
After a series of acquisitions, communications company West—the network infrastructure behind 70% of U.S. 911 calls—had more than 200 legacy applications running on different platforms. Cognizant helped accelerate the modernization of West’s worldwide app portfolio–migrating to a single cloud-native platform and microservices architecture to reduce inefficiencies and satisfy customers who expect them to be as innovative as any technology company. Today, the time West needs to develop and deploy new products has plunged from as much as a year to as little as a few hours.See the Full Story