TEANECK, N.J., Nov. 3, 2011 /PRNewswire/ -- Cognizant (NASDAQ: CTSH), a leading provider of information technology, consulting, and business process outsourcing services, today announced the successful completion of the first phase of a multiyear enterprise platform rollout for IHS (NYSE: IHS), a global information services firm with world-class experts in pivotal areas shaping today's business landscape: energy, economics, geopolitical risk, sustainability and supply chain management.
Over the years, IHS has strategically acquired companies to bolster its capabilities in energy and power, environmental health and safety (EHS) and sustainability, petrochemicals, and automotive industry forecasting. Since 2007, the company has completed more than 30 strategic acquisitions, six of them to date in 2011 alone. With each of these acquisitions, IHS has expanded its offerings in "information and insight" to help customers make critical business decisions every day.
Cognizant is supporting IHS' strategy to grow through acquisitions by rationalizing disparate systems and consolidating financial business processes through the enterprise SAP Financials rollout, and by providing a standardized solution across all acquired companies and business entities to ensure consistency, scalability, better customer service, more effective data governance, and regulatory compliance.
"IHS selected Cognizant for this mission-critical engagement because of its consulting-led approach, its extensive experience in our industry, and its expertise in SAP enterprise applications. By replacing disparate legacy systems from multiple acquisitions and harmonizing business processes, Cognizant is supporting our growth strategy and helping us provide the best customer experience worldwide," said Todd Hyatt, Senior Vice President and Chief Information Officer of IHS. "Because of its own client-centric culture, Cognizant understands our distinct focus on customer delight. Cognizant's collaborative work processes blended seamlessly with our team-based approach, engaging with our business experts from all functional areas and business entities, and making the implementation a positive experience."
"Close collaboration with IHS executive management, business and IT, combined with our deep functional and technical expertise in SAP, enabled this transformative initiative that will be the platform for seamlessly integrating the acquired companies," said Ashish Mahadwar, Senior Vice President and Practice Head for SAP at Cognizant. "We appreciate the opportunity to optimize and strengthen IHS' core business processes, and we look forward to continuing our collaboration to drive their long-term growth and scalability. Our close partnership with SAP has helped us identify and mitigate risks early, and fulfill IHS key business objectives on time."
IHS (NYSE: IHS) is the leading source of information and insight in critical areas that shape today's business landscape, including energy and power; design and supply chain; defense, risk and security; environmental, health and safety (EHS) and sustainability; country and industry forecasting; and commodities, pricing and cost. Businesses and governments in more than 165 countries around the globe rely on the comprehensive content, expert independent analysis, and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS employs more than 5,100 people in more than 30 countries around the world. Visit us at www.ihs.com.
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 130,000 employees as of September 30, 2011, 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.
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.