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Cognizant expands ME footprint

DUBAI — Cognizant, a US-based provider of consulting, technology and business process outsourcing services, said on Tuesday that it would continue to invest in the region and facilitate the availability of global best practices and capabilities to the Middle East.

The New Jersey based company, which has its regional office at Dubai Internet City, said it is already seeing good traction in the region with organizations in the Middle East increasingly adopting global services delivery.

“We are strengthening our focus on the Middle East by building out our footprint and capabilities in the region,” said R. Chandrasekaran, President and Managing Director of Cognizant Global Delivery, which is based in Chennai.

Speaking to Khaleej Times at GITEX Technology Week, Chandrasekaran said the company, which is on target to hit $4.5 billion this year, was committed to leveraging its wealth of global experience and expertise “to help companies in the Middle East build stronger businesses and navigate the structural challenges of the reset economy by focusing on business efficiency, effectiveness, innovation and virtualisation.”

“We are on growth mode in the region with active involvement in several major projects in the UAE and other Gulf countries,” he said.

Cognizant reached $1.1 billion in revenue during the second quarter this year, a sequential increase of 15 per cent and an increase of 42 per cent year-over-year, he said. “The company is projecting to be a $4.46 billion company by the end of 2010, which represents growth of at least 36 per cent regardless of the crisis,” Chandrasekaran said.

“For the past several quarters, we have been witnessing industry-leading growth despite the challenges posed by one of the most turbulent phases in the history of global economy,” he said.

Cognizant is ranked 37^th among the Fortune’s 100 fastest growing companies list and is the only IT consulting and services firm to find a place in Bloomberg Business Week’s 14^th annual Top 50 list of the best performing companies, published in the magazine’s June 27 issue.

At GITEX, Cognizant is showcasing its service offerings in cloud computing, core banking systems and retail solutions. With over 50 global delivery centres and more than 88,700 employees as of June 30, 2010.

“The company’s strategy of reinvestment has created meaningful differentiation in its business model. Throughout the recession, Cognizant showed unwavering commitment to continued investment in its business, winning new clients, strengthening its client-facing teams, innovative service capabilities and its infrastructure, and importantly, in hiring and developing its team,” said Chandrasekaran.

In the current environment, clients don’t want to choose between a strategic partner and a cost-effective outsourcing provider; they want both, he added.

Quite upbeat about the opportunities in the region, Chandrasekaran believes that the next few years would be characterised by transitions in technology, industry structure, and business and technology architecture.

Stephen Fernandes, Director and Head of Cognizant’s Middle East Operations, said GITEX event provided the company an opportunity to meet with clients and principal alliances, and network with key stakeholders.

issacjohn@khaleejtimes.com