Cognizant continues to focus and Invest in European IT services Market - WHY?
After acquisition of France-based financial services consulting firm Equinox, Cognizant is expecting to strengthen company’s global consulting capabilities and presence in Europe.
The company says that the overall European IT services market is roughly the same size as the North American IT services market, yet the penetration of the global-delivery model in Europe is currently a fraction of that in North America.
Cognizant emphasis on Europe Market requirements as:
· European clients are looking to buy a broader range of services—consulting, applications, infrastructure, and business process services
· Another significant shift is that Europe clients want to navigate both cyclical and structural shifts simultaneously (They are seeking a partner who can drive cost-savings and innovation on one integrated platform.)
Cognizant is seeing Europe as a potential and very important market which is driving them to focus and invest more. Building local teams is one of the major tasks, as European market demands a localized approach to address linguistic and cultural differences such as the company will take the help of Equinox leadership team to fulfill the needs of French Market.
Cognizant’s strategy is to build its talent for local domain, regulatory and language capabilities and better cultural compatibility to enter into transformational client partnerships.