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March 04, 2019

2019 AWARD FINALIST SPOTLIGHT: Cognizant Technology Solutions - Finalist in the Cultural Transformation & Sustainability to deliver a high performing Enterprise Excellence Culture Category

 

Read this article about Cognizant Technology Solutions, one of our finalists, in the category Best Achievement in Cultural Transformation & Sustainability to deliver a high performing Enterprise Excellence Culture, selected by the independent judging panel, for the 2019 Business Transformation & Operational Excellence Industry Awards program. Click here to read articles on other finalists.

 

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Rediscovering Early Warning Approach to Business Success

A project lifecycle includes 4 stages – Pursuit, Transition, Delivery & Sunset. During Pursuit, Cognizant identifies suitable business opportunities from client RFPs (Request for Proposal) and create customized solutions to meet their requirements. Post deal finalization, process is Transitioned to Cognizant environment through mutually agreed Transitions plan with predefined goals/milestones.

Finally, the transitioned project moves into steady state Delivery post stabilization, after meeting key project milestones.

 

At these stages of project lifecycle, the project is exposed to various inherent risks, such as:

Pursuit: Improper deal assumptions around revenue & cost could lead to Cognizant bidding for unprofitable business opportunities thereby affecting financial stability.

Transitions: Inadequate knowledge transfer, incomplete scope considerations, delayed or unmet Transition tollgates, etc. could lead to fines and penalties and contract cancellations CAN YOU SEE WHAT’S COMING?

Steady State Delivery: inability to meet service level, unmet contractual commitments etc could lead to fines and penalties along with client dissatisfaction thereby affecting brand reputation

Therefore, ability to ‘see and anticipate what’s coming’ and its timely mitigation is critical for CDO to meet both implied and expressed value commitments to clients.

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Opportunity

Rapid growth with increased complexity presented previously unknown challenges to business leadership with an opportunity to enhance critical management systems including Early Warning Management System (or EWS) to prevent business losses/ failures. Failure to correctly read early warning indicators/ signs led to closure scrutiny of our EWS system with following improvement areas identified.

Hence, it was decided to evolve from ‘subjective’ early warning system to a more balanced approach to risk taking by establishing a bottom-up governance process by nurturing risk-aware culture through use of technology.

 

Key Culture Transformation Shifts:

Being Proactive

Encouraging & Enabling Proactive Risk/Issue Escalation by eliminating pressure from staff to present an optimistic story to Senior Management. Rather Incentivizing proactive risk management and mitigation through bottom up actions.

‘Don’t Shoot the Messenger

Attitude and Leadership to enhances transparency, openness and objectivity in discussion. Leadership efforts focused to support appropriate risk response when issues are raised proactively, instead of ‘shooting the messenger’.

‘Digital to the Rescue’

Embracing Digital & Technology to develop Integrated & Scalable Early Warning Management System to address ever increase business size, complexity and risks.

 

Key Drivers

  • Communications & Training: Driving rigor through positive messaging (e.g. “Red is good”) to influence diverse cultural mindsets.
  • Risk Adjusted Decisions: Continuously enhancing programs by feeding learnings from materialized risks/issues to enable early identification in new projects.
  • Formalized Recognition through incentive, career development and promotion systems.
  • Leadership Governance Meeting: Providing platform for inviting open debate to question and challenge ingrained thinking and an acceptance of diversity of opinion in presence of senior leadership to drive top down messaging
  • Integrated System: Adopting Cognizant philosophy on Digital Transformation to develop proprietary solutions to drive both bottoms up and top down support and ensure project safe-landing through

 

Benefits

  • More warnings/risks per day as result of an open and more risk-aware culture
  • Issue closure to limit exposure from identified ‘High Severity’ risk/issue
  • Identification of risks early in project lifecycle minimize mitigation effort and costs; risks are easier to mitigate in design
  • Self-assessment of ‘High Severity’ warnings/ risks and timely mitigation prevents negative business impact
  • Timely identification and mitigation helps minimize client escalations thereby protecting Revenue
  

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About the Awards

The Business Transformation & Operational Excellence Awards have been established to showcase globally the most outstanding organizational achievements through the application of Operational Excellence programs. Click here to view the Press Release.

The winners for all categories and for The Platinum Awards will be announced at The Business Transformation & Operational Excellence Summit & Industry Awards on Wednesday March 20th, 2019, from 6.30pm, in the Venetian Ballroom at the Loews Portofino Bay Hotel at Universal Orlando Resort®. 

The Business Transformation & Operational Excellence Awards are open to all organizations, both private and public sector, across the globe, which have implemented Operational Excellence programs to deliver outstanding business results.

The 2019 Awards will be held in conjunction with the Business Transformation & Operational Excellence World Summit on March 20, 2019 in the Venetian Ballroom at the Loews Portofino Bay Hotel at Universal Orlando™

 

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BTOES.com

The issues in this article are just one of topic areas that are going to be discussed at the Business Transformation & Operational Excellence World Summit & Industry (BTOES19). March 18-22, 2019, Loews Portofino Bay Hotel at Universal Orlando Resort®

BTOES is the industry’s biggest and best, senior-level, cross-industry gathering of Business Transformation & Operational Excellence industry leaders and senior executives.

It also hosts the Business Transformation & Operational Excellence Awardswhich showcase globally the most outstanding organizational achievements through the application of Operational Excellence programs.

The summits hosts a number of private forums for C-Level & Global corporate-level leaders as well as business unit heads.

With over 150 speakers, over 100 sessions, 12 Keynotes, 9 Track Themes, 5 parallel tracks, 60+ track sessions, 50 roundtable discussions, 20 Interactive Workshops, 6 Thought Leader Panels, 5 Leaders Boardrooms, 5 co-located events, the Industry Awards Program, Site Visits, 20+ hours of social networking including 2 gala cocktail parties, dinners, numerous group activities, this is the ultimate event to benchmark, network and drive Operational Excellence to the next level.

 

Quick Links

Speakers

Agenda

BTOES19 Awards

 

There is a strong focus on Cultural Transformation, Customer Delight, Sustaining an Operational Excellence program, Need for end-to-end Business Transformation, Keeping up with new technologies/impact of digitalization and Leadership Buy-in & Understanding. We dedicated two tracks to advanced technologies, such as AI, Machine Learning, RPA, Predictive Analytics, Blockchain, Cloud infrastructure etc.

The agenda is designed to encourage active meaningful conversations though all day enhanced networking and interaction opportunities, including

  • All-day Refreshment & Themed Breaks

  • 1¼ Hour Hot Breakfast Networking Sessions

  • 1½ Hour Hot Plated Networking Lunches with Topic & Industry Sector focussed tables

  • 1½ Hour Roundtable Sessions by Topic & Industry Sector.

  • Keynote & Themes Panel Sessions

  • Hosted Welcome Receptions from 5.30pm

  • Expanded more lavish Awards Program

  • Newly launched Night Summit for attendees to meet after dinner

For more information or to discuss the summit in more detail please schedule a call below,

Click here to schedule a call. 


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