Cognizant Technologies (CTSH) has teamed up with Norway-based Visma, a provider of leading business software and processes for accounting and payroll.
Both companies have agreed to deliver finance and accounting services to Norway Post, as part of a multi-year outsourcing contract. The financial terms of the transaction were not disclosed.
Owned by the Norwegian Ministry of Transport and Communication, Norway Post develops and delivers integrated, value-added communications and logistics solutions to domestic and international customers through physical and electronic networks.
Under the contract, the companies undertook a commitment to support Norway Post’s aim of enhancing its business effectiveness and thus enabling better postal and logistics services throughout Norway.
With the combination of Visma’s local Norwegian accounting and regulatory expertise and Cognizant’s global delivery model, transaction processing capabilities, and Oracle solution accelerators; the companies expect to fulfill their commitment of delivering process improvements, greater operational efficiencies, increased automation, enhanced productivity and a high-quality customer experience to Norway Post.
These services will support transactional finance services spanning the entire value chain ranging from accounts payable and receivable to fixed assets, general ledger and period-end closing.
Cognizant remains well diversified among key verticals such as financial services, health care and life sciences, retail, manufacturing and logistics, which help the company to maintain its top line. Furthermore, expansion into new geographies along with new processes provides an opportunity for growth.
Headquartered in Teaneck, New Jersey, Cognizant Technologies is a leading provider of information technology, consulting and business process outsourcing services. The company competes with its peers like Infosys Technologies Limited (INFY) and Wipro (WIT).
