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Innovation Beyond The Four Walls

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August, 12, 2015

New England Healthcare Exchange Network Turns to Cognizant and TriZetto for Technology Innovation and Collaboration

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OUR LATEST THINKING

Analytics to the Rescue: Better Loss Prevention through Modeling
By strategically applying predictive analytics, retailers can be empowered to reduce, if not avoid, loss due to shrinkage.
Transforming Finance and Accounting to Optimize Financial Close
Many firms are working to accelerate and improve the daily financial close, but are far from ready. By formalizing the F&A value chain, modernizing and strengthening their F&A platform, assessing and optimizing existing service models and heightening overall F&A governance, companies can achieve this goal, supported by a set of success factors for measuring progress and aligning transformation activities.
Delivering User Excitement in the Digital Era Through an Enterprise Service Hub
To succeed in a digital world, enterprises must reengineer their help and service desks along a hub and spoke model, employing analytics and total case ownership to satisfy internal and external user needs as soon as they arise.
Tailoring Omnichannel Fulfillment Strategies to Network Segments
There is no one-size-fits-all strategy for optimizing the supply chain. However, when implemented with network segments, omnichannel fulfillment can help retailers optimize inventory at every point, meet or exceed service expectations and reduce the overall cost to serve.
High-Velocity Supply Chains for Perishables: A Fresher Proposition
In the perishables sector, providing the freshest products to customers remains a challenge, since doing so is not tied to a single business function. Developing a high-velocity supply chain is one of the most straightforward strategies for ensuring freshness, reducing shrink and realizing top- and bottom-line improvements.
Wearable Technology: Automotive’s Next Digital Frontier
Wearables promise to impact the automotive value chain in a similar way to smartphones. But despite their great promise, wearables also lack proven use cases, requiring that companies proceed cautiously while ignoring wearables at their own peril.
Transforming Manufacturing with the Internet of Things
We are entering a golden age for innovation in manufacturing products and processes, all enabled by the Internet of Things (IoT). This IDC market spotlight can help you understand some of the considerations for driving value from connected products, connected supply chains, smart manufacturing and IoT.
The Rise of the Smart Product Economy
Making products smart can deliver game‑changing innovation, enriched customer experiences and new, across‑the‑board levels of efficiency. Our latest research reveals practical steps business leaders can take to benefit from this quickly intensifying and accelerating trend.
Beyond Brick and Mortar: Advanced Technology Platforms and Processes Power Smart Buildings
To optimize energy consumption and reduce operating costs, it is essential to better monitor and benchmark buildings' energy usage. Active demand management platforms are helping service providers respond to the dynamic energy requirements of modern buildings.
Asset Information: Addressing 21st Century Challenges
Asset‑intensive companies can reduce costs, improve operational uptime and enhance worker safety by collecting and analyzing process optimization data, unleashed by their response to regulatory requirements and the Internet of Things.

RESULTS

  • After Market Analytics for an Automotive Giant
  • Contract Renewal Process Automation for an Industrial Conglomerate
  • Supply Chain Transformation for a Global Packaging Major
  • Streamlined Accounts Payable Process for a large UK Client

After Market Analytics for an Automotive Giant

Cognizant helped the North American business of a top Automotive OEM design, build and deploy a Service Information Discovery application, which is the largest of its kind for the client. We also migrated millions of records from the legacy to the new system. The application provides analytical insights into various after-market issues such as repair order, warranty and parts. The system is built on a state-of-the-art, scalable architecture, that can handle future increases in data load and emerging analytical scenarios.

  • Reduced dependence on third‑party vendors for routine data
  • Established better control on warranty costs
  • Drove higher spare part sales

Contract Renewal Process Automation for an Industrial Conglomerate

Cognizant helped a top industrial goods conglomerate automate their contract renewal process, as the existing manual process was cumbersome and error‑prone. A contract management system was used to store and manage contracts with distributors and end-users of our client’s products. The Cognizant solution was developed in a phased manner and resulted in complete streamlining of the process, ensuring that contracts were always correct, up-to-date and renewed on time.

  • Eliminated droves of paperwork
  • Fully automated process and reduced scope for manual error
  • Realized annual cost savings of $140,000

Supply Chain Transformation for a Global Packaging Major

Cognizant was the implementation partner for one of the most successful SAP roll-out programs in the pulp, paper and packaging industry. The program started in the client organization many years ago but faced several technical and managerial challenges. Hence Cognizant was brought in as a systems integrator to manage the roll-out in a structured and cost effective manner. Along with the SAP implementation, we also handled integration of external systems to provide an enterprise-wide platform for supply chain management for the client.

  • Drove estimated savings of more than $10 million annually
  • Stock availability increased by up to 20%
  • Inventory obsolescence reduced by 15%

Streamlined Accounts Payable Process for a large UK Client

Cognizant helped a large business in the United Kingdom streamline their Accounts Payable (A/P) process, driving efficiency and leading their transformation to a paperless process and higher supplier satisfaction.

The client receives nearly 250,000 invoices each month, but the paper-based A/P process was highly people-dependent and fraught with issues such as data accuracy and speed of response. Cognizant studied the “as-is” processes and released recommendations for the “to-be” process, which the client accepted.

Key components of the solution are: implementation of an offline invoice processing workflow tool, a Call Management tool, automation of financial statement reconciliation, development of a paper-less Optical Character Recognition (OCR) process and automation of mailroom scanning along with roll-out of a Duplicate Audit tool.

  • Saved 43% of total contract value for the client’s business
  • Reduced invoice processing turnaround time from 5 days to 1 day and improved productivity by 25%
  • Drove supplier query resolution up from 65% to 99%
  • Created a transparent metrics dashboard for process visibility
  • After Market Analytics for an Automotive Giant
  • Contract Renewal Process Automation for an Industrial Conglomerate
  • Supply Chain Transformation for a Global Packaging Major
  • Streamlined Accounts Payable Process for a large UK Client
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Manufacturer in the IoT world
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Informed Manufacturing: Revitalizing the value chain

Resources

Manufacturer in the IoT world
As the physical world merges with the virtual world, an increasing number of objects are intelligent and networked.
Informed Manufacturing: Revitalizing the value chain
The real and virtual worlds are converging, creating the opportunity to use intricate cyber‑physical systems to improve manufacturing. See how informed manufacturing transforms the value chain.

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