TEANECK, New Jersey, January 20, 2011 /PRNewswire/ --
- Cognizant's Next-Generation "Business Process as a Service" Model to Provide Lilly USA Greater Flexibility and Predictability
Cognizant (Nasdaq: CTSH), a leading provider of consulting, technology, and business process outsourcing (BPO) services, announced that it has been selected by Eli Lilly and Company, one the world's leading innovation-driven pharmaceutical companies, to deliver an end-to-end set of services to help Lilly's U.S. sales and marketing operations be more effective, efficient, and innovative.
Under the multiyear contract, Cognizant will deliver a tightly bundled range of solutions spanning commercial analytics, sales force planning, sales incentive compensation, customer relationship management, business reporting, data warehousing, and state compliance reporting using a consumption-based service delivery model called Business Process as a Service (BPaaS).
As part of the BPaaS model, Cognizant will combine cloud-based IT infrastructure, Cognizant's proprietary software applications and other intellectual property for commercial operations in life sciences, and business process outsourcing expertise to enable Lilly to move from a high-fixed-cost, capital-intensive model to a variable, consumption-based cost structure, resulting in greater flexibility and predictability to meet evolving sales and marketing needs. Cognizant's solution will enable a key component of Lilly's transformation strategy of increased collaboration in a globally networked model that aligns people, process and technology to drive sales and marketing innovation.
"This expansion of our relationship with Cognizant is another step in our mission to become the most customer-focused pharmaceutical company in the U.S. market," said David Ricks, President, Lilly USA. "By collaborating with the industry leader in commercial operations service delivery, we will sharpen our own focus on understanding and exceeding our customers' needs-the path forward to delivering business results in our increasingly challenging environment."
"We are committed to helping Lilly USA transform its commercial operations, providing a broad portfolio of integrated services to ensure business agility, continuous improvement, and the most innovative approaches. At a time of enormous regulatory and economic pressures in the life sciences industry, our BPaaS approach will help Lilly reduce risk, have the flexibility to rapidly scale up or down, and be highly responsive to market demands," said Nagaraja Srivatsan, Senior Vice President and Head of Life Sciences, North America, for Cognizant.
Cognizant (Nasdaq: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services. Cognizant's single-minded passion is to dedicate our global technology and innovation know-how, our industry expertise and worldwide resources to working together with clients to make their businesses stronger. With over 50 global delivery centers and more than 100,000 employees as of December 1, 2010, we combine a unique global delivery model infused with a distinct culture of customer satisfaction. A member of the NASDAQ-100 Index and S&P 500 Index, Cognizant is a Forbes Global 2000 company and a member of the Fortune 1000 and is ranked among the top information technology companies in BusinessWeek's Hot Growth and Top 50 Performers listings. Visit us online at http://www.cognizant.com or follow us on http://www.twitter.com/Cognizant.
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.