Fast, Controlled Change
The need for change has never been stronger, yet the risks have never been greater.
Enterprises can no longer just respond to change they must now lead it. But commercial upside can come at a price: continuous operational risk and constant organizational pain. And it's asking too much of a running business process.
The answer lies in a more active approach towards business process, that isn’t simply aligned to outcomes but acts as a catalyst—fuelling the sort of change that will disrupt markets, but not be disruptive to the business. We call it the Process of Rapid Evolution.
Cognizant Business Process Services help enterprises step-change faster without massive organizational upheaval—by simultaneously being more innovative and efficient. We help accelerate the evolution of a business, without the need for revolution.
Without the right business base the right conditions for rapid evolution will never exist.
Change costs. It's not just the investment, but also organizational and operational impacts—as well as the effect on customers and employees. But does it have to?
Cognizant Business Process Services creates a better landscape for rapid change. By delivering new ways to drive bigger cost reductions that free the capital to fund innovation. By bringing more predictability to business outcomes and therefore greater resilience. By ensuring new levels of efficiency, operations excellence and productivity to heighten business confidence. The result? The right commercial environment for Rapid Evolution
Business process must be ready for change no matter how fast it comes.
Change is coming from all directions: competitors, customers, compliance, consumerization of technology. The question is how can businesses be better armed?
Cognizant Business Process Services helps organizations be more agile in a world of change. Our process modernization helps enterprises to better manage the new core and context—and accelerate the next generation technologies and business processes.
Our driving force is inherent flexibility, so business models can more expand and innovate. It all adds up to one thing: faster and more controlled change.
Enterprises are looking for smarter digital change that does not disrupt their business. That’s the new digital reality.
Cognizant Business Process Services uses digital to deliver quicker results and safer change. We focus on digitizing the right business processes, instead of embarking on a lengthy disruptive transformation journey. We harness advances in infrastructure, process automation and analytics. And we concentrate on technology that allows humans and digital processes to work smarter together.
What’s the bottom line? Business processes that can deliver evolution and revolution in equal measure.
The rate of evolution varies wildly by industry, now more than ever enterprises need partners with specialist domain knowledge.
No industry can afford to stand still, some have to evolve faster whilst for others managed change is even more critical. Is your business process marrying speed with control?
Cognizant Business Process Services has enormous experience of the major industries. Our Consulting group has domain experts, our service delivery and solution sets are tailored to specific verticals, and delivered by the people who know your industry inside out. It means that we can better help individual customers align their investments to the future of work, and best shape their organizations for what lies ahead.
See what Cognizant can offer your industry
Cognizant Business Process Services help enterprises to step-change faster without massive organizational upheaval—by simultaneously being more innovative and efficient. We help accelerate the evolution of a business, without the need for revolution, creating greater change readiness not major change-aversion.
Process services for financial services, communications, healthcare, media, life sciences, insurance, retail and travel and hospitality.
Cognizant Intelligent Automation Solutions is a suite of powerful automation and cognitive technologies that help companies scale their operations, improve speed of innovation and empower employees.
From data gathering to equity and fixed income research, we deliver across the value chain. Services include portfolio/risk analytics as well as industry analysis.
Align people, process and technology in a BPS delivery model combining services such as analytics, reporting, cloud-based IT and data warehousing.
We help our customers across industries become more agile, and flexible without going through business upheaval. We do this through our understanding of your market, the use of smarter technology, process and consultancy-led business change and focus around intelligent automation and digital value chains.
Cognizant has BPS capabilities in the following industries:
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A leading grocery store chain had doubled its size through acquisition and faced the challenges of a complex integration. The effort was complicated by an accounting function spread across 30 locations. Laden with manual processes and with several different legacy F&A systems, the company suffered from a high cost of operations.
Cognizant collaborated with management to drive a finance transformation agenda, delivering process harmonization across the business. We introduced higher levels of automation, enhanced controls and better compliance through our suite of smart tools. The company reported a savings of $295 million on optimized invoice processing alone.
In addition to tremendous cost pressures from healthcare payers, insurance companies are struggling to realize ROI from their clinical programs and challenged to justify investment in proactive measures for health and wellness. Our client, a large group health plan, faced these issues: corporate mandate to cut medical management costs, inconsistent nurse productivity rates, staffing for case management operations and rising clinical labor costs adding to already escalating operational costs.
Our Global Clinical Services team deployed more than 150 registered nurses as a turnkey solution for the Utilization Management continuum, including Intake, Nurse Review and Peer Review Preparation. These were experienced US-accredited RNs operating from URAC certified facilities in the Philippines, with deep domain expertise in case management. As a result, we were able to reduce operating costs by more than 40%, while increasing turn around time compliance to more than 99%.
A leading auto insurer was experiencing a higher than industry average incidence of fraudulent claims. The aim of our engagement was to enhance their upstream fraud detection capabilities not only at the claims-level, but also at the customer-level.
Our team built a predictive model to identify fraudulent claims based on data related to type of policy, claims history, premium and a variety of other datapoints. Cognizant used logistic regression to identify the factors characteristic of fraudulent claims and narrow down from an initial 97 to 7 critical parameters.
As a result of our intervention, there was a significant reduction in false positives and the customer saved millions by managing the fraud detection process better and more efficiently.
Time-to-market is critical in the pharmaceutical industry–where lead times for new drugs can be up to 12 years. Our client, a large global pharmaceutical company, needed to focus on core activities, reduce cost of data operations and standardize processes across the globe.
Through better reporting and process management, Cognizant helped free up resources to focus on new products and increasing the drug development pipeline. Our clinical trials services drove process and staffing efficiencies in the client’s clinical trial operation and reduced overall costs by 30–40%. In addition, over a period of five years, Cognizant provided productivity gains of 30 percent.