Cognizant Technology Solutions Corporation is a provider of custom information technology, consulting and business process outsourcing services. The Company is engaged in Technology Consulting, Complex Systems Development and Integration, Enterprise Software Package Implementation and Maintenance, Data Warehousing, Business Intelligence and Analytics, Application Testing, Application Maintenance, Infrastructure Management, and Business and Knowledge Process Outsourcing, (BPO and KPO). It operates in four segments: Financial Services; Healthcare; Manufacturing, Retail and Logistics, and Other, which includes Communications, Information, Media and Entertainment and High Technology.
The Company provides a range of project delivery services, including post-acquisition integration, business and information technology integration, business transformation, product/service launch and organization relocation services. The Application Design, Development, Integration and Re-engineering services include Data Warehousing / Business Intelligence, ERP and customer relationship management (CRM) implementation services. Application Maintenance services include Year 2000 compliance, Eurocurrency compliance, decimalization within the securities industry and compliance with the Health Insurance Portability and Accountability Act for the healthcare industry.
During the year ended December 31, 2010, the Financial Services business segment represented approximately 42.4% of total revenues. This business segment provides services to customers operating in the industries, such as Banking and Insurance. Through Banking the Company focuses on retail and commercial banks, and diversified financial enterprises. It assists theses clients in such areas as Consumer Lending, Cards and Payments, Wholesale Banking, Risk Management, Investment Banking and Brokerage, Asset and Wealth Management, Corporate Services and Retail Banking. It also focuses on the needs of broker/ dealers, asset management firms, depositories, clearing organizations and exchanges. Areas where it helps the clients to include Front Office, Middle Office, Back Office, Sales and Brokerage, Research, Exchange Operations and Prime Brokerage Solutions.
Through Insurance the Company assists with the needs of property and casualty insurers, life insurers, reinsurance firms and insurance brokers. It focuses on such areas as: Business Acquisition, Policy Administration, Claims Processing, Management Reporting, Regulatory Compliance and Reinsurance.
During 2010, the Healthcare segment represented approximately 25.6% of the total revenues. This segment provides services to customers operating in industries, such as healthcare and life sciences. The Healthcare service teams focus on the solutions, such as Broker Compensation, Sales and Underwriting Systems, Provider Management, Plan Sponsor Administration, Electronic Enrollment, Membership, Billing, Claims Processing, Medical Management and Pharmacy Benefit Management. It has also partnered with customers to enable their information technology systems to deal with initiatives, such as self service portals (member / provider / broker), consumer-driven healthcare, behavioral health, regulatory compliance, Medicare Modernization Act (MMA), and healthcare data warehousing and analytics. The Company’s life sciences solutions include Prescriber Behavior Analysis and Insight, Longitudinal Prescription Data Management Systems, Sales Force Compensation Systems, Sales Data and Claims Data Management Systems, Clinical Trial Solutions, 21CFR11 Assessment and Computer Systems Validation, Data Mining and Business Intelligence Solutions, e-Business and Data Portals, and ERP implementation, upgrade, and maintenance services.
Manufacturing / Retail / Logistics
During 2010, Manufacturing, Logistics and Retail business segment represented approximately 18.5% of total revenues. It helps organizations improve operational efficiencies, enhance responsiveness and collaborate with trading partners to serve their end customers. Some of Manufacturing and Logistics solutions include Supply Chain Management, Warehouse and Yard Management, Waste Management, Transportation Management, Optimization, Portals and enterprise resource planning (ERP) solutions. The Company serves a range of retailers and distributors, including supermarkets, specialty premium retailers, department stores and large mass-merchandise discounters. It also serves the travel and hospitality industry including airlines, hotels and restaurants, as well as online and retail travel, global distribution systems and intermediaries and real estate companies. Services provided include Upgrade supply chain systems, ranging from order management to category and space management, warehouse management, logistics management, pricing and promotions, and merchandising management; Implement new point of sale solutions that embrace new international standards and provide new flexibility for supporting new merchandising initiatives; Accelerate the implementation of enterprise and customer relationship management; Improve business intelligence effectiveness, and provides BPO and niche processes in restaurants, hotels and airlines. It works with the consumer goods manufacturers also.
During 2010, Other business segment represented approximately 13.5% of total revenues. The Other business segment includes Communications, Information, Media and Entertainment Services and High Technology operating segments. The Company has industry-specific solutions, including: OSS / BSS Implementation, Network Management Services, Mobile Applications, Conformance Testing, Product Lifecycle Management, Product Implementation, Portals, Business Activity Monitoring, Mobile Systems Integration, Broadband Evolution Services and Billing Quality Assurance. Its information, media and entertainment solutions include Supply chain management solutions, from pre-press to material procurement, circulation, logistics, and vendor management; Business solutions covering advertising management, online media, and e-business; Workflow automation covering the product development process for broadcasters; Digital Asset Management (DAM) and Digital Rights Management (DRM), and Operational systems including ad sales, studio management, outsourcing billing and payments, along with content management and delivery.