Cognizant Technology Solutions is an American multinational provider of custom information technology, consulting and business process outsourcing services in Teaneck, New Jersey, USA. It released its report about their growth in revenue and profits for the quarter ended June 30, stating a demand grows for offshore outsourcing. It has handling its operations in India because most of its outsourcer are there, almost 75 percent of its staff.
Cognizant is competeing with the Indian outsourcers like Tata Consultancy Services, Infosys, and Wipro. Despite of the economic instability, Cognizant’s business is not affected because most customers are looking for trusted partners that can help them reduce costs and become more competitive, and they find it in Cognizant.
The company already hired almost 7,100 qualified employees in the month of January to June 2011. The company is gaining benefits on its share as customers looking for innovation from their suppliers as the company is also looking at opportunities in consultancy and business process outsourcing. Despite of the financial crisis, the outsourcing remains steady. In fact, that is the time the outsourcing booms because most companies prefer to outsource their work as means of improving their business and in saving money.
The New Jersey company reports increased revenues and profits as it competes with the Indian firms despite of the market instability. The company forecast that its fiscal 2011 revenue will be at least $6.06 billion, this is up by 32 percent compared to the last year. Outsourcing slumped in the second quarter by 18 percent to $16.4 billion on account of weak demand in the Americas and an overall drop in the number of large contracts awarded.
Reference
http://www.infoworld.com/d/the-industry-standard/cognizant-enjoys-continued-economic-growth-outsourcing-demand-168698
http://oneclick.indiatimes.com/article/00Cx8OC1hp6x1?q=Wipro+Limited
http://en.zicos.com/tech/i26015714-Cognizant-enjoys-continued-economic-growth-on-outsourcing-demand.html
http://www.niuzer.com/Technology/Cognizant-enjoys-continued-economic-growth-on-outsourcing-demand-6283481.html
http://thunderfeeds.com/reader/
http://www.elanso.com/ArticleModule/RRG9JXLcLmTDPpNiJ2QcPAIi.html
