Cognizant recognized as an Innovator in Avasant’s Intelligent Automation Services RadarView™ Report 2019 – 2020
Among endless service provider options, novel and disruptive mechanics in innovation brings recognition as an Innovator Intelligent Automation Services 2019-2020.Read the Avasant report
AVASANT ANALYST INSIGHTS
- Cognizant’s automation solutions primarily address business challenges around compliance, operational efficiency, cost savings, and customer experience by leveraging its RPA, smart intake (OCR/ICR) and AI/ML capabilities through its IP assets (HiveCenter, HPA and Digital Asset Studio).
- One of its strength areas is smart intake, which automates the data extraction process. It has a dedicated smart intake CoE to automate the conversion of data and documents into machine-readable formats using ML, image enhancement, language translation, and AI tools.
- Another strength area is managing scalability for enterprises by leveraging its bot store, which has over 200 unique bots for specific roles and functions such as claims adjudication, invoice processing, KYC, customer on-boarding and patient scheduling.
- It is further developing automation capabilities around core business processes such as meter reading correction automation.
- In terms of geographic reach, it has a strong presence in North America and continues to expand the sales and delivery teams in other markets, including Continental Europe and APAC.
Investments & Innovation
- Expanding its presence in automation in DACH, Benelux, Nordics, and Japan, Cognizant is actively looking for acquisitions and partnerships in these regions. Last year, it acquired Hedera Consulting to strengthen its consulting and digital transformation capabilities for clients in Belgium and the Netherlands.
- It is also acquiring start-ups with innovative fintech solutions: Meritsoft (owns an automation solution called Finbots for post-trade processing, March 2019), Oy Samlink Ab (to build and operate a shared core banking platform and expand its network of delivery centers in the Nordics, Jan 2019).
- It is expanding its partner network for joint advisory and implementation, marketing and sales, and conducting client POC/ POV and workshops.
- Cognizant is increasing the automation know-how of the enterprises and developing new industry use cases in collaboration with many industry associations including AHIMA, TDWI, Nashville Technology Council, and WEF. It collaborates with the Institute for Development and Research in Banking Technology on NextGenSmartDC initiative, which aims at creating a smart energy system with predictive operations and automated decision-making.
- It created a fair repository of thought leadership and points-of-view related to the adoption of new use cases on its digital portal, Cognizant Mindshare. It publishes blogs on its website to share its experiences and latest ideas in automation, such as automation in the petroleum industry, applying AI and ML to mitigate the effect of social determinants of health (SDH) on patients, and the future of chatbots in insurance, among others.
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