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Innovation Beyond The Four Walls

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February, 08, 2016

Cognizant Reports Fourth Quarter And Full Year 2015 Results

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FOSTERING INNOVATION

Organizations must innovate or face extinction. Tweaking existing processes and business models for the last dollar of costs or sales is necessary but not enough. Business and IT leaders must open their minds and ears to customers, business partners and every employee rank within their own organizations.

Sadly, most companies aren’t very good at this. Success requires carefully prioritizing incremental versus potentially game-changing initiatives and accepting that innovation is an unpredictable process that resists easy ROI calculations. Driving innovation requires casting a wider than ever net for ideas. Innovative ideas can come from newly-hired employees, those relatively low in the organization, in newly-acquired business units or from contractors. Even disaffected employees might have the market insights and fresh disruptive ideas an organization needs. Organizations must take a flexible but disciplined approach to prioritizing efforts and calculating ROI.

ASK SPECIFIC QUESTIONS

Popular myth says we should solicit a broad swath of ideas, without any restriction and then evaluate all of them on their individual merits. In our work with clients, we have found there are more efficient ways of generating valuable ideas.

Cognizant encourages teams to think outside the box-to resolve highly specific questions. For example, rather than devising a grand plan to accelerate go-to- market, we work closely with our clients on smaller pieces of the puzzle that can deliver high value.

  • Our Latest Thinking

Five Key Focus Areas for New-Age Collaboration
Virtually any enterprise can benefit greatly from deploying new-age organizations' collaboration technologies and systems. We review the tools and activities available for collaborating on five levels: within a program, within an organization, between channels, within the extended enterprise and with the external world.
Crowdfunding Insurance
The growing number of under-insured and uninsured, as well as the increased acceptance of crowdfunding initiatives, introduces new business possibilities to insurers willing to accept upfront risk in exchange for potential long-term rewards.
Asia Rising: Digital Driving
Executives seeking a digital business advantage should take a page from the playbook written by leaders across the Asia‑Pacific region, according to finding from our primary research.
A Framework to Speed Manufacturing’s Digital Business Transformation
Manufacturers must fully embrace social, mobile, analytics and cloud technologies to achieve the operational excellence, agility, innovation and customer centricity required to remain relevant with customers and the entire manufacturing ecosystem.
Managing Innovation and Student Expectations: Going Beyond the Roadmap
Educators need to respond to digital disruption and new student expectations by shifting from long-term roadmaps to continuous innovation.
Connected Products for the Industrial World
By leveraging product-centric connected ecosystems, manufacturers can create new and more effective business models, advance operational excellence, and design and develop better products and services that align with customer needs and preferences.
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.
 

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