TEANECK, N.J., Feb. 9, 2022 /CNW/ -- Cognizant (Nasdaq:
CTSH) announced today that it has renewed its contract agreement
with Volvo Cars to provide finance and accounting (F&A), and
procurement services. The agreement covers the car maker's global
accounts payable and accounts receivable, direct and indirect
procurement and logistics services.
In the new three-year agreement, Cognizant will enable Volvo
Cars to harmonize its F&A and procurement processes and
implement Intelligent Process Automation (IPA) to drive efficiency
and support its ongoing digital transformation journey. Using best
in class Payment On Time (POT), highly automated, contactless
processing of invoices, quicker resolution to supplier and customer
queries through ticketing tools, Volvo Cars will also be able to
reduce the cost of delivery of business process services and
improve overall business outcomes.
"The automotive industry has been undergoing continuous
evolution as business models change and the shift to electric cars
has become key to car makers' goals of climate neutrality. We are
proud to support Volvo Cars in its rapid growth across numerous
markets," said Anne-Sofie Risåsen, Head of Nordics, Cognizant. "We
now look forward to strengthening the already established global
standard F&A and procurement processes as we increase our
footholds in direct and indirect procurement."
Cognizant has been engaged with Volvo Cars since 2011.
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.
For more information, contact:
U.S.
Jodi
Sorensen
jodi.sorensen@cognizant.com
|
Europe /
APAC
Christina
Schneider
christina.schneider@cognizant.com
|
India
Rashmi
Vasisht
rashmi.vasisht@cognizant.com
|
|
|
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SOURCE Cognizant