Montclair State University Selects Cognizant to Transform Financial Management and Decision-Making to Support Growth

TEANECK, New Jersey, Aug. 7, 2014 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today announced that it has been selected by Montclair State University to revitalize its finance organization and deliver superior experience to its students, staff, customers, and partners.

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As part of the multiyear agreement, Cognizant will implement Oracle's PeopleSoft Financial Management System and provide IT infrastructure support in areas ranging from finance and accounting, to procurement and grants for the duration of the implementation. The new system is designed to leverage world-class financial processes and best practices to help Montclair State University improve productivity, agility, and customer service.

By delivering business-critical information in a timely and efficient manner, the system will enable Montclair State University to make optimal financial decisions and develop effective short- and long-term strategies to support the University's growth and emerging needs. The new system will enable the University to integrate and streamline financial processes across departments. It will allow Montclair State University to optimize costs and investments by rationalizing its applications portfolio, automating, centralizing, and standardizing transactional processes, and enhancing governance, risk, and compliance management.

"Cognizant is committed to the higher education sector and is pleased to partner with Montclair State University in this strategic transformation initiative," said Nirav Patel, Senior Vice President, Cognizant. "We understand the vision and strategic importance of the University's OneMontclair program in challenging the status quo and driving performance efficiencies as well as building new digital capabilities within the University for future needs. We look forward to helping Montclair State University turn financial insights into a lever for smarter strategies and differentiated service for everyone who interacts with the University."

About Montclair State University
Building on a distinguished 106-year history, Montclair State University is proud to be a leading institution of higher education in New Jersey. The University's six colleges and schools serve more than 20,000 undergraduate and graduate students in 300 majors, minors, concentrations and certificate programs. Situated on a beautiful, 250-acre suburban campus located just 14 miles from New York City, Montclair State delivers the instructional and research resources of a large public university in a supportive, sophisticated and diverse academic environment. For more information, visit: http://www.montclair.edu/.

About Cognizant
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services, dedicated to helping the world's leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work. With over 75 development and delivery centers worldwide and approximately 187,400 employees as of June 30, 2014, Cognizant is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500 and is ranked among the top performing and fastest growing companies in the world. Visit us online at www.cognizant.com or follow us on Twitter: Cognizant.   

Forward-Looking Statements
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.