STOCKHOLM, March 2, 2016 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today announced that it has been selected by Bonnier Group, the Nordic-headquartered international media group, to standardize its finance and accounting processes.
As part of the initial five-year agreement, Cognizant will streamline and automate a broad range of accounting services, including purchase-to-pay, order-to-cash and records-to-report in Norway, Sweden, Finland and Denmark and help the Group drive higher levels of cost efficiencies.
"We selected Cognizant due to its extensive experience and track record in providing value to global corporations in supporting finance and accounting processes," said Åsa Thunberg, CEO of Bonnier Solutions. "By driving higher levels of efficiency in the processes, we will be able to free up resources to invest in the further development of Bonnier's media businesses."
"We are pleased that Bonnier has selected Cognizant to implement a shared vision of best-in-class F&A processes," said Kaushik Sarkar, Vice President and Head of Nordics and Baltics at Cognizant. "By bringing together our deep expertise in technology, automation and analytics to Bonnier's finance and accounting processes, we will help the Group drive higher levels of process standardization and governance across multiple geographies."
About Bonnier Group Bonnier is a media group working in TV, daily newspapers, business and trade press, magazines, film, books and digital media. With a base in the Nordic region and a substantial presence in the U.S., Germany, the U.K. and Eastern Europe among other places, Bonnier has operations in 15 countries around the world and over 8,000 employees.
Bonnier has been publishing high-quality media products since its start in 1804. Entrepreneurship is a core value and the company has always combined a commitment to freedom of speech with a business focus.
The company is wholly owned by the Bonnier family, which has been running it for seven generations.
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 100 development and delivery centres worldwide and approximately 221,700 employees as of December 31, 2015. 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.