Cognizant will continue delivering Financial and Accounting (F&A) services for ISS that have already provided an efficiency gain in financial processing for one of the world’s largest facility management organizations
TEANECK, N.J., Oct. 30, 2023 /PRNewswire/ — Cognizant (Nasdaq: CTSH) today has announced a five-year renewal with ISS, a leading workplace experience and facility management company. The extended collaboration will enable Cognizant to continue helping ISS create efficiencies and enhanced innovation within its financial organization across Northern Europe. To date, Cognizant has transitioned multiple and country specific processes and systems into one simplified, consolidated, and automated framework. The enhancements have enabled F&A employees at ISS to process more invoices each year meaning a better experience for their customers and vendors.
Cognizant began the partnership with ISS in 2014 and in that period has successfully delivered an optimized scalable financial and accounting model. This has enabled multiple countries and services to be consolidated under one standardized process and system that improved efficiency and reduced costs. A new control framework has also been delivered which works to reduce duplication within the workflow of Finance & Account processes. Cognizant has also introduced several different tools and systems to improve automation, including duplicate audit tools such as Prohanc and Tracer. During the next phase of the project, Cognizant aims to drive continuous innovation and productivity improvements for the financial organization by providing solutions and processes designed to simplify, harmonize, and standardize the way of working with the goal of achieving further cost savings. Work will also be conducted to design solutions for later deployment across other business units in ISS alongside and in line with a continuous roll out of Global One ISS strategy.
Thomas Djursoe, Country Manager of Cognizant Denmark said: "We are delighted to be continuing our collaboration with ISS to further innovate and create efficiencies for the financial organization in Northern Europe. During our engagement, we have worked together to introduce a new operational model which has improved invoicing and communication for both ISS’s customers and vendors. ISS employees are also working more efficiently and in collaboration with multiple countries which has ultimately resulted in a lower cost for ISS due to the streamlining of operations. We look forward to the next phase of our collaboration and ongoing innovation with ISS."
Pawel Rowicki, Head of Shared Services Transformation at ISS said: "During our engagement with Cognizant we have transitioned from a multiple, and country specific, financial process to one consolidated and automated model. This has significantly improved our efficiency and the overall service we deliver to our vendors and customers. As a result, the finance team now process invoices faster and in a more cost-effective way due to the standardized service we operate. I look forward to the continued collaboration with Cognizant and enhanced innovation and efficiency gains we expect to continue achieving together."
About ISS
ISS, a leading workplace experience and facility management company, provides placemaking solutions that contribute to better business performance and makes life easier, more productive and enjoyable – delivered to high standards by people who care. https://www.issworld.com/en
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.
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