Cognizant Accelerates Investment in Retail Practice; New Retail Practice Leader and Solutions Help Continue Expansion.TEANECK, N.J. -- Cognizant Technology Solutions Cognizant redirects here. For a definition of the word see the entry for at Wiktionary Cognizant Technology Solutions (NASDAQ: CTSH) is an information technology services company with headquarters in New Jersey U.S.A. (Nasdaq: CTSH) a leading provider of IT services, today announced that its retail practice continues to expand rapidly. Cognizant counts six out of the top 20 retailers worldwide as customers. "Cognizant's Tranforming while Performing solution has been particularly well received by retailers," said Cognizant's new Retail Practice Leader, Ron Glickman. Ron brings to Cognizant more than 25 years experience in the Retail, Consumer Product, Healthcare, and Management Consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects industries, and was CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. at DFS (Distributed File System) An enhancement to Windows NT/2000 and 95/98 that allows files scattered across multiple servers to be treated as a single group. With Dfs, a network administrator can build a hierarchical file system that spans the organization's LANs and Group, a subsidiary of Moet Hennessy-Louis Vuitton. "Cognizant can help retailers cut the cost of IT support and then help them reinvest a portion of the savings in strategic, IT-enabled business initiatives." Cognizant has several solutions for retailers. These include solutions in the area of Warehouse management, Price Optimization, Wireless POS, Customer Relationship Management, supply chain solutions using RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. , accelerated barcode compliance tool kit, and retail IT strategy consulting. Cognizant has developed a detailed framework for package evaluation to help in package selection for customers. "Our investments in solutions and people in our retail practice have paid off," said Francisco D'Souza, Cognizant's COO. "Revenues from services to retail, manufacturing and logistics clients grew 62% in 2004 and now account for 19% of our total revenue." Cognizant's Retail solutions have won the Computerworld Smithsonian Honors three years in a row. Cognizant also has partnerships with the major RFID technology vendors. About Cognizant Technology Solutions Cognizant (Nasdaq: CTSH) is a leading provider of IT services. Focused on delivering strategic information technology solutions that address the complex business needs of its clients, Cognizant provides applications management, development, integration, and re-engineering, infrastructure management, business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in , and a number of related services such as enterprise consulting, technology architecture, program management and change management through its onsite/offshore outsourcing model. Cognizant's more than 15,000 employees are committed to partnerships that sustain long-term, proven value for customers by delivering high-quality, cost-effective solutions through its development centers in India, and onsite client teams. Cognizant maintains P-CMM P-CMM People Capability Maturity Model (Software Engineering Institute) P-CMM Personnel Capability Maturity Model and SEI-CMM Level 5 assessments from an independent third-party assessor. Cognizant was recently named to the NASDAQ-100 Index, recognized as Forbes' Best Small Company in America for the second consecutive year, and ranked as the top information technology company in BusinessWeek's Hot Growth Companies. Further information about Cognizant can be found at http://www.cognizant.com. This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 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. |
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