We Will Be A $20 Billion Company In 2022 : Cognizant India
Cognizant Technology Solutions, which had the highest annual revenue of $ 18.5 billion in 2021, will be a $ 20-billion company this year, said Rajesh Nambiar, President and MD, Cognizant India, and Cognizant, Digital Business and Technology. Discussing the company’s financial performance for Q4 and 2021, Nambiar told Businessline, “We are very excited this year. The company's digital revenue grew 20% year-over-year and digital bookings continued to grow, contributing 45% to total revenue in the December quarter. It focuses on digital engineering, artificial intelligence (AI) and its priority areas of analysis, the cloud and the Internet of Things.
“I am proud of Cognizant's broad-based progress over the past year. We've successfully implemented our strategy by meaningfully expanding our digital portfolio, strengthening our international presence and helping our clients succeed, "said CEO Brian Humphries, who will complete three years as Cognizant CEO in April this year. Our talented employees have given us the momentum and confidence to pursue market opportunities. " Demand for digital services has improved, partly due to clients' continued focus on cost optimization to support their legacy systems and operations.
Founded in 1994, the US-based company crossed the 5-billion mark in FY11; $ 10 billion in FY14; $ 15 billion in FY18 and $ 20 billion this year. Nambiar said that in 2021, all markets will grow, with North America alone accounting for about 75 percent of revenue and the rest, including the Global Growth Markets (GGM), Europe and the rest of the world.
Revenue from products and resources grew by 18% year-on-year in fixed currency, with the benefit of recent acquisitions and the adoption of digital technology by consumers increasing revenue. "Demand for manufacturing, logistics, energy and utility clients is strong, and in 2020 we will see steady demand in 2021 in both retail, consumer goods, travel and hospitality," Cognizant said. Communications, media and technology Stable currencies boosted annual revenue by 13.1%. The benefits of the recently completed acquisitions in technology growth and the constant demand from technology customers.
“GGM is growing at a very high rate and is double that of North America. Our goal is to achieve a more comprehensive international footprint in 2022. We are constantly working to globalize Cognizant. It means extensions to GGM; Make meaningful investments in markets such as the UK, ANZ, Germany and Japan where the cognizant must be large and the growth potential in these countries is very high. This does not mean that Cognizant will not grow in North America, which will grow by 10-11 percent. However, it is important for us to balance that and move to GGM in 2022, "he said.
Nambiar said digital capabilities account for about 45 percent of today's revenue. "We believe that 55-60 percent of revenue will be generated in the next few years. This shows the strength of our digital credentials. In the fourth quarter, 17 new reports from top analysts named us as industry leaders. This is a huge leap. Positioning point of view. They recognize our leadership and highlight client partnerships, scalability and skills, ”he said.
Regarding the acquisition, Nambiar said the company acquired seven companies in 2021. All of this created talent, technology, and the ability to see space that the company had never seen before.
On the roadmap of 2022, the company has the potential to better operate and address the supply side as it grows into higher clips. “We have a really good digital story. Digital acceleration not only increases double-digit revenue but also improves margins and increases customer engagement. We also get high level staff involvement; Keep employees for longer and have the ability to find the right growth path. We also engage in strategic transformation with clients and take advantage of advanced capabilities and skills. As a hub for 2022, a comprehensive strategy to accelerate the growth of digital and increase our relevance to our customers will be crucial for us, ”he said.