TEANECK, N.J., July 8, 2015 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today announced that it has been recognized as a Leader in the Everest Group IT Outsourcing in Life Sciences Industry – Service Provider Landscape with PEAK Matrix™ Assessment 2015 report.
The PEAK Matrix report assesses the market success and overall capability of 20 major IT service providers. Cognizant is recognized as a "Star Performer" for the greatest relative year-on-year movement on the PEAK Matrix, as well as a Leader for its high levels of delivery capability across all categories, including scale, scope, domain investments, delivery footprint, innovation, buyer satisfaction, and market success.
Combining deep consulting, technology and business services expertise with game-changing digital, automation and as-a-service solutions, Cognizant enables the world's largest and most progressive pharmaceutical, biotech and medical device companies in driving higher levels of efficiency and innovation.
"The life sciences industry is undergoing significant changes that require new thinking, rapid innovation, and digital transformation of business processes to remain competitive," said Shankar Narayanan, Vice President and Global Markets Leader of the Life Sciences practice at Cognizant. "This top recognition in the Everest Group's 2015 PEAK Matrix for Life Sciences ITO reflects Cognizant's sharp focus and significant investments in helping our clients improve clinical outcomes, bring innovative products to market faster at lower cost, and use the latest digital technologies to interact with patients, providers, regulators, and other stakeholders."
"Life sciences buyers are realigning their strategic focus and adopting leaner organizational structures. Technology is playing a pivotal role in operationalizing this new construct," said Jimit Arora, Vice President, Everest Group. "Cognizant has successfully complemented its life sciences service capabilities by significantly investing in life sciences digital technologies and expanding its value chain expertise."
The Everest Group PEAK Matrix is a proprietary framework for assessing the relative market success and overall capability of service providers based on Performance, Experiences, Ability and Knowledge. Each service provider is comparatively assessed on two dimensions: market success and delivery capabilities. The resulting matrix categorizes service providers as Leaders, Major Contenders, and Aspirants. Companies that demonstrate strong upward movement in successive reports are recognized as Star Performers. Everest Group recently announced a recalibrated methodology, in which innovation, intellectual property and technology take center stage.
About Cognizant's Healthcare and Life Sciences Practice
Cognizant's Healthcare and Life Sciences practice is committed to helping change millions of lives for the better by partnering with clients to build solutions to healthcare challenges, continually improve the way they do business, set the pace in clinical development, strengthen their regulatory infrastructure, and increase competitiveness. With approximately $3.5 billion in annualized revenue, Cognizant's healthcare practice is consistently ranked among the top 10 on the Healthcare Informatics Top 100. Cognizant serves 28 of the top 30 global pharmaceutical companies, 16 of the top 20 health plans in the U.S., 3 of the top 5 pharmacy benefit management companies in the U.S., 9 of the top 10 biotech companies, and 12 of the top 15 medical device companies. With a large team of dedicated professionals including doctors, pharmacologists, physicians, biomedical engineers, pharmacists, biostatisticians, medical writers, and GxP consultants, the practice provides domain-aligned consulting, IT, business process and analytics solutions globally.
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 centers worldwide and approximately 217,700 employees as of March 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.