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Cognizant - Finance and Accounting Transformation
Vendor Analysis
published on Sep 24, 2024
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Report Overview:
This NelsonHall vendor assessment analyzes Cognizant's offerings and capabilities in Finance and Accounting Transformation
Who is this Report for:
NelsonHall’s finance and accounting transformation from RPA to GenAI profile on Cognizant is a comprehensive assessment of Cognizant’s offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of finance and accounting services with a focus on AI and GenAI capabilities and identifying vendor suitability for finance and accounting services RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in finance and accounting services focusing on the GenAI capabilities.
Scope of this Report:
The report provides a comprehensive and objective analysis of Cognizant’s finance and accounting transformation offerings, capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments with a focus on GenAI capabilities within F&A
- Analysis of the company’s strengths, challenges, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base, including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization, including the location of delivery centers.
Key Findings & Highlights:
Cognizant offers F&A operations, transformation, and advisory services, focusing on an F&A ecosystem that helps the company deliver end-to-end transformation and value for CFOs.
In the last eighteen months, Cognizant has seen increased activities around F&A with new client wins across various sectors and increased scope and scale of F&A delivery beyond AP, AR, month-end closing, and reporting. It has had increased client queries and requests for support in areas such as SOX compliance, order managemnt, ESG reporting and accounting, and indirect taxation.
Cognizant's F&A offering includes advisory, transformation, and operations, with ~10,000 FTEs delivering finance and accounting BPS and transformation services to ~120 clients. Cognizant has recently focused on expanding its F&A offerings across industry verticals and increasing its penetration into more strategic areas such as tax, SOX compliance, order management, indirect tax, ESG reporting, and accounting.