Cognizant Success Factors free essay sample

Corporation is a provider of custom information technology, consulting and business process outsourcing services. Cognizant was founded in 1994 as an IT development and maintenance services arm of The Dun Bradstreet Corporation, at Chennai, with Kumar Mahadeva as its Chairman and CEO. The company was spun off as an independent organization two years later and moved its headquarters to US. Kumar Mahadeva resigned in 2003 when Lakshmi Narayanan took charge as CEO. Provides superior customer intimacy and an enhanced relationship experience †¢Invest in new service offerings to stay on top of clients’ business and technology needs †¢Hire and retain the best talent in the marketplace †¢Improved already strong relationships with key Indian universities – a primary source of talent for the company †¢New generation of highly distributed and virtualized business models that push global talent ntegration to new levels in search of dramatically better efficiency and effectiveness †¢New generation of cloud, mobile, and social technologies that redefine the range of business problems that technology can help address †¢New generation of workers and consumers that grew up with technology and have dramatically different expectations about how they interact with companies Cognizant Employees – Prominent reason for success The majority of the company’s employees are based in India: Chennai, Coimbatore, Kolkata, Bangalore, Hyderabad, Pune, Mumbai, Gurgaon and Cochin. After the close of trading on 16 November 2006, Cognizant moved from the mid cap SP 400 to the SP 500. The Company competes with Infosys Technologies, Tata Consultancy Services, WIPRO, Accenture, Computer Sciences Corporation, HP Enterprise, Perot Systems and IBM Global Services. Cognizant was one of the first IT services companies to organize around key industry verticals as well as technology horizontals. It currently provides a wide range of business, technology and consulting services including business process outsourcing (BPO) and has significant practices in †¢Banking and Financial services †¢Communications †¢Consumer Goods †¢Energy Utilities †¢Health care †¢Information, Media Entertainment †¢Insurance †¢Life Sciences †¢Manufacturing †¢Retail †¢Technology †¢Transportation Logistics †¢Travel and Hospitality 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). Position of Cognizant among its competitors : Cognizant had an extremely high growth rate in 2010, attaining annual revenues of $4. 59 billion – up 40% year-over-year. Reasons of Success: †¢Putting client first over self Unique reinvestment model †¢2-in-a-box model – which pairs an on-site client manager with an offshore delivery manager †¢Provides superior customer intimacy and an enhanced relationship experience †¢Invest in new service offerings to stay on top of clients’ business and technology needs †¢Hire and retain the best talent in the marketplace †¢Improved already strong relationships with key Indian universities – a primary source of talent for the company †¢New generation of highly distributed and virtualized business models that push global talent ntegration to new levels in search of dramatically better efficiency and effectiveness †¢New generation of cloud, mobile, and social technologies that redefine the range of business problems that technology can help address †¢New generation of workers and consumers that grew up with technology and have dramatically different ex pectations about how they interact with companies Cognizant Employees – Prominent reason for success The majority of the company’s employees are based in India: Chennai, Coimbatore, Kolkata, Bangalore, Hyderabad, Pune, Mumbai, Gurgaon and Cochin. Cognizant employs around 78,400 employees in India. They boast of one of the best bonus payouts in the industry. The company paid out about 200% bonus in March to a cross section of its employees. Now, the company is promoting about 15,000 of its associates globally who are below the manager level. The company has sent out letters of promotion to 15,000 employees on Friday that will take effect from May 1, 2010, sources said.