COGNIZANT TO ACQUIRE CLOUD SERVICE
COGNIZANT has announced that they have closed the deal with Collaborative Solutions to procure the latter's Cloud services.
Cognizant, a major technology-based company, with its headquarters in Teaneck, New Jersey. It is one of the world's largest workday services partners of contemporary times.
It has been announced by the company that they have sealed the deal with Collaborative Solutions to procure the latter's Cloud services.
Cognizant Technology Solutions announced that it will acquire Collaborative Solutions, a private consultancy specialized in cloud software for finance and human resources. The organization did not announce the sum of the purchase. The transaction is expected to be closed in the second quarter of 2020. This is Cognizant 's fourth purchase of a company related to cloud services.
Collaborative Solutions specialises in Workday enterprise cloud solutions for finance and human resources. It is a global consultancy, owned privately. It empowers its collaborators and clients across fields like fiscal services, healthcare, technology, government, education, and other organizations too.
The modern-day workplace has been compressed into gadgets like the smart phones, laptops and tablet PCs such that even. outside the workplace, they act like the workplace itself. Keeping this perspective, gives insight that employees want to be able to access data and business applications from anytime, anywhere and on any of their gadgets.
Employees want to access data without exception and quickly for convenience. This gives them a better work experience and not just the technology-based companies should look into giving their employees a better workplace experience, but also the companies providing human resources, facilities, sales and marketing services shall ensure it has the exceptional workplace.
One can certainly say that Cognizant's Workplace Services, namely, WorkNEXT provides this hassle-free work experience along with quickness, innovation and a fascinating user-friendly experience.
To this, will add the acquiring of Collaborative Solutions, and together with it, new finance and HR advisory and implementation services to Cognizant's Cloud services.
In the words of Greg Hyttenrauch, President, Digital Systems and Technology, Cognizant, "Workday is a critical enterprise cloud suite that gives finance, HR and other functions greater resiliency and agility. Collaborative Solutions, with its rich expertise and leading position in the Workday ecosystem, expands our opportunity in cloud by establishing a new practice area in this large, fast-growing market.
Our combined strengths in cloud strategy and enablement will differentiate our offering, positioning us to provide full support to clients throughout their digital transformation journey. We look forward to welcoming Collaborative Solutions' talented team to Cognizant." He cites these reasons to say that running cloud functions has never been more important.
Also, it is the third purchase Cognizant has made in the year so far. It started with gaining a five-year contract from Network Rail, which is a British-based rail infrastructure company. In the month of February, it signed the deal with the customer relationship management solution provider firm EI-Technologies. This was followed by the cloud billing and pricing solutions provider company, named CodeZero.
Following a promising start to the year, the company posted sales of $16.8 billion in 2019, up 4.1 per cent from 2018, far smaller than the overall IT industry growth of 7.7 per cent in the preceding year. It also revoked its profit expectations on the effects of the Covid-19 pandemic. Cognizant also eventually succumbed to this month's Maze ransomware attack, which, as per the corporation, could have a significant impact on the company’s performance.
The deal closed with Collaborative Solutions will enable to enhance the performance of Cognizant as a tech-solution. Cloud services are central to having a smooth data storage hub for all employees at WorkNEXT by Cognizant. The corporation has definitely proved itself as having a user-centric approach through its exceptional focus on users in the workings of the company.
Acquiring the deal with Collaborative Solutions, has also made the provision of Cloud cost-effective. Every corporation wants to provide agility in the fleeting world, transforming every day, enabling newer technology. But the issues are generally not addressed due to the journey being expensive and difficult.
Cognizant believes in being not just a technology but an integrated, user-centric corporation which wants to make the users it's centre of focus. It wants to shift the focus from the technology it provides to the user's experience, which will eventually give them technological growth.
In fact, Cognizant works with anthropologists and UX experts who develop smart strategies to study the minds of the user and then implement their technological plans.
This helps them to captivate the best of talents, and provides simplification for employees. A content employee is a more productive employee too!
Edited by Shraddha Jha
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