Cognizant Named a Leader in the 2024 ISG Provider Lens™ Retail & CPG Services Report

Oct. 2, 2024 - Cognizant (Nasdaq: CTSH) has been recognized as a Leader in the 2024 Information Services Group (ISG) Provider Lens™ Retail & CPG Services report. ISG (Nasdaq: III ), a leading global technology research and advisory firm, compared provider strengths, challenges and competitive differentiators across four primary areas: Business Transformation Services, Digital Innovation Services, Platform Modernization Services and Managed Services.

Among the 33 companies included in the report, Cognizant was named a Leader across all four quadrants:

• Business Transformation Services to transform enterprise operations and management to make them digital-first enterprises.
• Digital Innovation Services to equip enterprises with tools and methods that enable advanced business capabilities, including ways to create business value.
• Platform Modernization Services to modernize key components or all core business management software landscapes.
• Managed Services to outsource some or all of enterprises' IT infrastructure management, operations, solutions development, user support and associated development and management.

"Being recognized as a Leader in these four areas is a testament to Cognizant's unwavering commitment to driving innovation for our retail clients," said Sushant Warikoo, SVP and Retail Business Unit Head at Cognizant. "As we continue to evolve, we are poised to shape the future of retail through these foundational areas of expertise."

About the Report
According to the report, retail, and consumer packaged goods (CPG) companies in the U.S. are recognizing the need to keep evolving in response to growing and shifting consumer demands, new technologies and increasing regulation. The report also underscores the need for data-enabled agility in these industries to stay ahead amidst the rapid growth of e-commerce and the emergence of new, competitive options online.

"Retail and consumer products companies are finding that comprehensive, customer-centric strategies are essential," said Sunder Pillai, ISG Retail & CPG Practice Leader. "They are partnering with providers to plan and execute these strategies while controlling costs."

To navigate these changes effectively, companies must harness more data and conduct thorough analysis to precisely monitor and predict demand, manage inventory, and create personalized customer experiences, the report says. As business requirements evolve, organizations are increasingly turning to the cloud for scalability and cost efficiency.

To meet consumer demands for seamless experiences spanning online and in-store shopping, U.S. retail and CPG firms are adopting integrated inventory management and order fulfillment systems. According to ISG, they are also implementing customer data platforms that combine multiple data sources and using AI to make personalized recommendations. Furthermore, with the guidance of extended reality (XR) consultants, brands are using AR and VR for digital-plus-reality experiences-for instance, virtually trying on clothing.

As the landscape of data privacy laws remains fragmented in the U.S., there is an expectation that these regulations will eventually cohere into stronger national regulations on data collection, storage, and usage. The report suggests that enterprises are responding by adopting data governance platforms and management services from trusted providers. Simultaneously, as labor regulations change, organizations are turning to workforce management platforms to facilitate adaptation. Additionally, the growing emphasis on sustainability measures - such as waste reduction and eco-friendly packaging - has led to increased adoption of tracking and reporting tools.

While automation, including tools like robotic warehouse assistants and generative AI (GenAI), enhances operational efficiency in retail and CPG, companies recognize the importance of preserving human talent where necessary, according to ISG. Learning management systems are being utilized to help employees develop skills for the environment.

Beyond these key areas, the report delves into other significant trends in the U.S. retail and CPG industry, including the rising use of robotic process automation (RPA) and the growing importance of workforce management tools for optimal employee scheduling.

For more information on Cognizant's placement and its Leader recognition, read the full ISG Provider Lens Retail & CPG Service Report here.

About Cognizant
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.

About ISG Provider Lens
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Mexico, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia, and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage .

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