Cognizant selected by Volvo Cars for Finance & Accounting and Procurement Business Process Services
PR94443
TEANECK, N.J., Feb. 9, 2022 /PRNewswire=KYODO JBN/ -
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.
Logo - https://mma.prnewswire.com/media/722966/Cognizant_Logo_Logo.jpg
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 Risasen, 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
SOURCE: Cognizant
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