Cognizant’s deal momentum is being driven by digital
Premium- The 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
BENGALURU : The deal momentum of Cognizant Technology Solutions Corp. is being largely driven by its digital business, said 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.
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2 min read . 07 May 2021“Within digital, there are multiple areas we were able to make a significant difference overall. Visual engineering has grown significantly as a segment of our business; we have seen a lot of growth in digital experiences…These are all actually giving us a lot of confidence that we will continue to grow that segment," Nambiar said 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 said.
Cognizant chief executive officer Brian Humphries said 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 said.
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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