Cognizant's deal motivation is being driven by digital

CIOReviewIndia Team | Monday, 10 May 2021, 04:00 IST

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Cognizant's deal motivation is being driven by digitalThe deal momentum of Cognizant Technology Solutions Corp. is being largely driven by its digital business, stated Rajesh Nambiar, chairman and managing director, Cognizant India.

The Teaneck, New Jersey-based company’s digital revenues grew 15% year-on-year and contributed 44% to the total revenue in the March quarter, up from 39% in the year-ago period.

“Inside digital, there are multiple areas we were able to make a momentous difference overall. Visual engineering has grown significantly as a segment of our business, we have seen a lot of growth in digital experience. These are all actually giving us a lot of confidence that we will continue to grow that segment," Nambiar stated in an interview.

“In terms of bookings, much of the growth is actually coming from the digital space rather than the traditional space. The digital portfolio and the priority areas of our digital battleground are meaningfully outperforming the total company," Nambiar added.

Cognizant chief executive officer Brian Humphries stated during the earnings call that the company has successfully executed its strategy of embracing digital in the first quarter ended March. “Cloud migration and digital adoption create a significant opportunity for Cognizant in the coming years," he added.

Cognizant has acquired four companies in the digital space in the March quarter alone. It announced acquisitions of Linium, Servian, Magenic, and ESG Mobility targeted at strengthening its focus areas in cloud, data, digital engineering, and internet of things (IoT).

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