TEANECK, N.J., Aug. 15, 2017 /PRNewswire/ -- Cognizant
(NASDAQ: CTSH) today announced it has been named to the "Winner's
Circle" in the HfS Research Blueprint Report: Utility Operations.
HfS Research is a leading independent global analyst firm for the
business and IT services industry.
The HfS Blueprint analyzes the innovation and execution
capabilities of 14 major service providers, focusing on business
process, information technology and engineering services across the
utility value chain. Service providers named to the Winner's Circle
are ranked by HfS as the highest overall performers, working "in
collaborative engagements with clients and making recognizable
investments in talent and technology capabilities to increase
value, using business process as-a-service (BPaaS) to deliver
insight driven services."
Cognizant is recognized by HfS for its depth of utility
industry-specific capabilities, overall vision and delivery
excellence, strategic relationships, Internet of Things (IoT)
investments and implementation, and innovation in new commercial
models to help clients evolve from legacy systems. Other
Cognizant strengths noted by HfS include:
- Advancements in As-a-Service Commercial and Delivery
Models: HfS cited Cognizant's investments to enable an
as-a-service approach to partnering, contracting and delivering
services. Investments include establishing Collaboratory
facilities in New York,
Amsterdam, Melbourne and London; enhancing design thinking and
co-innovation capabilities; and making acquisitions like KBACE and
Odecee that bolster as-a-service and digital support.
- Investments in Intellectual Property and Innovation:
Cognizant is focused on creating IP in areas like automation and
drones to fuel new value for utility clients. The company leverages
60+ proprietary tools and platforms across the value chain in areas
like smart grids, customer experience management, contact center
modernization, demand side management, GIS, renewables, and work
and asset management.
- Delivery of Accessible and Actionable Data: Cognizant
provides an array of utility-specific analytics to clients through
frameworks containing analytics, touch points, use cases, and a KPI
library, to enable utilities in their data-driven
transformation. These frameworks include: UTOPIA
(Utilities Transformation through Optimization, Predictive and
Insightful Analytics) Framework, Smart Analytics on BigDecisions,
and Smart Meter Event Processing Engine.
- Delivery Excellence: Clients cite Cognizant's focus on
collaboration and "deep understanding of utilities" when discussing
its ability to deliver on commitments.
"The utility industry has immense challenges ahead, with an
influx of new technologies, rising costs, greater demand, and
changing expectations from consumers, regulators and society at
large in how they operate," said Derk Erbé, Research Vice
President, Supply Chain, Procurement and Energy, at HfS. "Leaders
like Cognizant, who are proven innovators and delivery experts, are
the partners utility industry clients are seeking to redesign
mature operating models for flexibility and efficiency, with deep
expertise in delivering as-a-service platform solutions.
Cognizant excels in this and in implementing new technologies like
IoT and automation to help clients drive better business outcomes
and consumer experiences."
"Utilities are at an inflection point and have game-changing
decisions to make as a myriad of developments like IoT, analytics
and robotics cause disruption. Digital initiatives are creating
business opportunities once previously thought to be out of reach,
and in this era of 'water as the new oil', utilities' business
models are undergoing a fundamental shift," said Raj Radhakrishnan,
Senior Vice President and Head of Manufacturing, Logistics, Energy
and Utilities, at Cognizant. "Cognizant has invested in building
capabilities to enable our utility clients to navigate this shift
by effectively leveraging digital business models and technologies.
We are pleased that HfS has recognized Cognizant's capabilities in
delivering innovative solutions that cover the entire utility value
chain, from generation to distribution to retail. These solutions
help our clients better engage with their customers while running
more efficiently and with lower risk."
Read a summary of the HfS Research Blueprint Report: Utility
Operations here.
About HfS Research
HfS Research is The Services Research Company™—the leading
analyst authority and global community for business operations and
IT services. The firm helps enterprises validate their global
operating models with world-class research and peer networking. HfS
Research coined the term The As-a-Service Economy to illustrate the
challenges and opportunities facing enterprises needing to
re-architect their operations to thrive in an age of digital
disruption, while grappling with an increasingly complex global
business environment. HfS created the Eight Ideals of Being
As-a-Service as a guiding framework to help service buyers and
providers address these challenges and seize the initiative.
About Cognizant
Cognizant (NASDAQ-100: CTSH) is one of the world's leading
professional services companies, transforming clients' business,
operating and technology models for the digital era. Our unique
industry-based, consultative approach helps clients envision, build
and run more innovative and efficient businesses. Headquartered in
the U.S., Cognizant is ranked 205 on the Fortune 500 and is
consistently listed among the most admired companies in the world.
Learn how Cognizant helps clients lead with digital
at www.cognizant.com or follow us @Cognizant.
View original content with
multimedia:http://www.prnewswire.com/news-releases/hfs-research-names-cognizant-in-winners-circle-for-utility-operations-300504128.html
SOURCE Cognizant