Cognizant Technology Solutions Alwarpet Chennai
September 20, 2022
Cognizant Technology Solutions Alwarpet Chennai is Based in Teaneck, New Jersey, United States. It was founded as Dun & Bradstreet’s internal technology unit in 1994 and began serving external clients in 1996.
After a series of corporate reorganizations, the first public offering took place in 1998.
Cognizant experienced a period of rapid growth during the 2000s, becoming a Fortune 500 company in 2011; as of 2021, it is in 185th place.
Cognizant was founded in 1994 in Chennai, India as Dun & Bradstreet Satyam Software (DBSS), a 76:24 joint venture between Dun & Bradstreet and Satyam Computer Services, with Srini Raju as the founding CEO and MD. It started with 50 employees in Chennai as Dun & Bradstreet’s internal technology unit focused on implementing large-scale IT projects for Dun & Bradstreet businesses.
Cognizant Technology Solutions Alwarpet Chennai
In 1996, Dun & Bradstreet spun off several of its subsidiaries, including Erisco, IMS International, Nielsen Media Research, Pilot Software, Strategic Technologies, and DBSS, to form a new company called Cognizant Corporation, headquartered in Chennai, India.In July 1997, Dun & Bradstreet bought Satyam’s 24% stake in DBSS for $3.4 million. The headquarters were moved to the United States and in March 1998, Kumar Mahadeva was appointed CEO. The company operates as a division of Cognizant Corporation and focuses on Y2K-related projects and web application development.
In 1998, parent company Cognizant Corporation split into two companies: IMS Health and Nielsen Media Research. In June 1998, IMS Health partially spun off the company and conducted an initial public offering of Cognizant stock. The company raised $34 million, less than IMS Health’s underwriters had hoped for. They earmarked the money for debt repayments and the modernization of the company’s offices.
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Kumar Mahadeva decided to reduce the company’s reliance on Y2K projects:
by Q1 1999, 26% of the company’s revenue came from Y2K projects, compared to 49% in early 1998. Kumar Mahadeva decided that the market for enterprise resource planning software was saturated worth $16.6 billion to refrain from large-scale ERP implementation projects. Instead, he focused on application management, which accounted for 37% of Cognizant’s revenue in Q1 1999. Cognizant’s 2002 revenue was $229 million and the company had zero debt with $100 million in the bank. During the dotcom bust, the company grew by taking on maintenance projects that larger IT services companies didn’t want.
Cognizant Technology Solutions Alwarpet Chennai
In 2003, IMS Health sold its entire 56% stake in Cognizant, which introduced poison pill provision to prevent hostile takeover attempts.
Kumar Mahadeva stepped down as CEO in 2003 and was replaced by Lakshmi Narayanan.
The company’s service portfolio gradually expanded across the entire IT services environment and into business process outsourcing (BPO) and business consulting.
Lakshmi Narayanan was succeeded by Francisco D’Souza in 2006. Cognizant experienced a period of rapid growth during the 2000s, reflecting its placement on Fortune magazine’s “100 Fastest Growing Companies” list for ten consecutive years from 2003 to 2012.
In September 2014, Cognizant made its biggest deal yet, acquiring healthcare IT services provider TriZetto Corp for $2.7 billion.
On 24 June 2015, the company signed a multi-million dollar deal with Escorts Group in India to help Escorts businesses digitally transform and modernize its operations across all business segments.
On 30 June 2015, it partnered with Singapore-based supermarket retailer NTUC FairPrice to digitally transform NTUC’s business to improve personalized and consistent customer service across channels.
In January 2022, Cognizant sold its Oy Samlink acquisition of Kyndryl and Mustache to DJE Holdings.
Business model
Like many IT services firms, [citation needed] Cognizant follows a global delivery model based on offshore software R&D and offshore outsourcing.
In its early years, Cognizant won business from a number of US and European companies with the help of the Dun & Bradstreet brand. The company’s top executives envisioned the company as providing superior customer service on par with the current six major systems integrators (Accenture, BearingPoint, Capgemini, Ernst & Young, Deloitte, and IBM), but at lower prices.
Regions Edit
The company has 318,400 employees worldwide, including more than 200,000 in India at 10 locations with more in Chennai. On 20 January 1994, Cognizant registered its branch in Chennai, Tamil Nadu, India under the legal name of Cognizant Technology Solutions India Private Limited. The company’s other centers are in Bangalore, Chennai, Coimbatore, Gurgaon, Noida, Hyderabad, Kochi, Kolkata, Mangalore, Mumbai and Pune. The company has local, regional and global delivery centers in UK, Australia, Hungary, Netherlands, Spain, China, Philippines, Canada, Brazil, Argentina, Mexico etc.
Conclusion
In this article we discuss about Cognizant Technology Solutions Alwarpet Chennai.
Based in Teaneck, New Jersey, United States. It was founded as Dun & Bradstreet’s internal technology unit in 1994 and began serving external clients in 1996.
After a series of corporate reorganizations, the first public offering took place in 1998.
Cognizant experienced a period of rapid growth during the 2000s, becoming a Fortune 500 company in 2011; as of 2021, it is in 185th place.
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Cognizant Technology Solutions Alwarpet Chennai
