TEANECK, N.J., 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 services.
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 presence.
"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.
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 research.everestgrp.com.
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.