BTOES Insights Official
By
March 11, 2019

2019 AWARD FINALIST SPOTLIGHT: Cognizant Technology Solutions - Finalist in the Operational Excellence to deliver Digital Transformation Category

 

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

 

Cognizant_Technology_Solutions (1)

  

 

pillar%20page%20line%201

Digital Finance in Cognizant  

Cognizant provides digital F&A services across procure to pay, order to cash, record to report and financial planning & analysis towers incorporating vertical specific expertise and offerings across industries such as banking and financial services, insurance, healthcare, life sciences, logistics, manufacturing, energy, utilities, retail, travel & hospitality.

 

Transformation to digital finance requires a Digital First approach which implies a combination of the following levers - reimagine of the service design and realignment of the operating model, automation at scale and AI powered analytics, new age metrics focused on automation, customer experience and visibility.

 Copy of Provide an Excellent Customer Experience with the perfect Mobile Customer Journey. (24)

 

Our digital finance approach enables clients to enhance their finance function end to end and deliver to evolving expectations and future ready operations. Our solution enables clients to make their finance processes agile, intelligent, automated and digitally enabled for benefits delivered at scale.

 

Such enhancements may be summarized as follows:

  • Dynamic and controlled data exchange and consolidation – through integration layer for ERPs and orchestration across process platforms and consolidating to a common book of records to deliver single view of process
  • Cloud based engagement – on BPaaS platforms for process towers and the integration layer
  • Intelligent automation and robotics at scale – through robotics as-a-service or in partnership with RPA and cognitive providers
  • Integrated process management and reporting – on dynamic dashboards and common book of records
  • Enterprise analytics and business insights – from embedded analytics and AI powered visualization for influencing data driven decision making
  • Reimagined process - harmonized and standardized with enhanced user and customer experience and digital led new age metrics"

 

Business Results

Cognizant Digital Finance & Accounting enables our clients to achieve business value which would otherwise be unobtainable. We may classify such value delivered with examples as below:

 

Business outcomes

  • 2-3 Day improvement (e.g. DSO, DPO), where we have collaborated with customers on projects such as vendor pay terms rationalization vendor debit balance, bad debt reserve reduction, write back etc., reduction in vendor overdue payment impacting working capital by up to $250M annually
  • 30-50% reduction in total cost of operations, $25-$35M through system rationalization, reduced close cycle time by 30-40%, spend optimization by $20-$30M and Revenue enablement by $5-$10M

 

Standard and scalable

  • Cloud-based platforms across F&A services with prebuilt automation tools and systems, conversion of capital to operating expenditure, Digital playbook for future growth and integrations

Business insights

  • Enterprise analytics and decision support across F&A, Domain expertise across O2C, R2R and P2P services – Working Capital optimization at stores for global retailer
  • Digital re-imagination of business finance model focused around CX Anytime, Anywhere metric through Digital CFO dashboards with new age metric for multiple clients across industries.

 

Next gen efficiencies

  • Autonomous and assisted RPA including robotics-as-a-service with $150M+ Financial adjustments posted by bots daily, 200+ BOT resumes consulted for client opportunities.
  • Next generation digital technology including NLP and NLG, Digital customer experience with integrated bolt-on solution for extraction of exceptional invoice information from ERP enabled, built in AI for invoice prioritization with chat-bots for real time update to suppliers on invoice status to improve end user experience.

pillar%20page%20line%201

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™

 

pillar%20page%20line%201

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. 


Download the most comprehensive OpEx Resport in the Industry

The Largest Leadership-Level Business Transformation & Operational Excellence Event

The Business Transformation & Operational Excellence Industry Awards

Welcome to BTOES Insights, the content portal for Business Transformation & Operational Excellence opinions, reports & news.

------------------------------ 

EXCLUSIVE SERIES: BTOES17 VIDEO PRESENTATIONS

Full-length speaking sessions from the Business Transformation & Operational Excellence World Summit, accompanied by featured articles from the Speakers themselves.

WATCH NOW

-------------------------------

Submit an Article

Become a Regular Contributor

504x672
AWARD 2019-1
Copy of Copy of btoes19
Subscribe to Business Transformation & Operational Excellence Insights Now
btoes19.png
png
certificate
png
btoes19healthcare
png
3-30
png
Copy of Copy of btoes19 (1)
png

Featured Content

  • Best Achievement of Operational Excellence in Technology & Communications: IBM
  • Best Achievement of Operational Excellence in Oil & Gas, Power & Utilities: Black & Veatch
  • Best Achievement in Cultural Transformation to deliver a high performing Operational Excellence culture: NextEra Energy
   
Operational Excellence Frameworks and Learning Resources, Customer Experience, Digital Transformation and more introductions
  • Intelligent BPM Systems: Impact & Opportunity
  • Surviving_the_IT_Talent_deficit.png
  • Six Sigma's Best Kept Secret: Motorola & The Malcolm Baldrige Awards
  • The Value-Switch for Digitalization Initiatives: Business Process Management
  • Process of Process Management: Strategy Execution in a Digital World

Popular Tags

Operational Excellence Business Transformation Business Improvement Business Excellence Process Management Continuous Improvement Process Optimization process excellence Leadership Process Improvement Premium Execution Excellence Change Management Enterprise Excellence Lean Lean Enterprise BTOES18 Lean Six Sigma Organizational Excellence Culture Transformation Capability Excellence Changing & Improving Company Culture Healthcare and Medical Devices New Technologies Digital Transformation Execution & Sustaining OpEx Projects end-to-end Business Transformation Agile Leadership Understanding & Buy-In Lack of/Need for Resources Adapting to Business Trends Changing Customer Demands Culture Failure to Innovate Integrating CI Methodologies Lack of/Need for Skilled Workers Lack of/Need for Support from Employees Maintaining key Priorities Relationships Between Departments Exclusive BTOES HEALTH BTOES Video Presentations Customer Experience Technology Process Automation Strategy Execution Innovation Report Manufacturing BPM Lean Manufacturing Agility Systems Engineering Process Design Awards BTOES Presentation Slides Healthcare thought leaders Insurance Robotic Process Automation Data Analytics Banking and Capital Markets Professional Services Customer Experience Excellence White Paper BTOES19 Consumer Products & Retail Operational Excellence Model Project Management value creation Artificial Intelligence Automotive and Transportation data management innovation execution digital operations Interview Operational Excellence Example Digital business expansion revenue growth Data Frameworks Lean Culture Learning organization Pharmaceuticals & Life Sciences Primary Measure of succes Six Sigma Workplace Analytics transformation journey BTOES17 Business Growth Communication Denial Management HealthcareTechnologies Hoshin Planning Hospitality & Construction Human Centered Design Innovation in Healthcare Kaizen NPS Net Promoter Score Oil and Gas Pharmaceuticals and Life Sciences Telecommunications Text Mining business process automation eHealth investment banking text analytics Announcement BTOES18 Award Winners BTOES18 Awards Client Feedback Strategy Communications Education Infographic Integrated Decision Approach Integrated Decision Making Jidoka Learning Resource Oil & Gas Recruitment Supply Chain Management Team The FAST lane master virtual resource management