Cognizant bags outsourcing deal from Philips

IT major Cognizant today said it has bagged a multi-year deal from Royal Philips Electronics to drive technology-enabled business transformation and growth programmes for the lighting and consumer lifestyle solutions provider.

Financial details of the deal were not disclosed.

Under the terms of the multi-year engagement, Cognizant will provide a comprehensive range of consulting and application services globally to help Philips consolidate, rationalise and enhance its IT landscape, Cognizant said in a statement.

This will help Philips improve operational efficiency, business agility, and governance, it added.

Cognizant's engagement will enable Philips to transition to a platform and output-based managed services model across multiple business lines and corporate functions, helping Philips variablise its cost structure, drive structural savings and free up resources.

"Our relationship with Cognizant will allow us to leverage its consulting, domain, and technology capabilities for the business transformation programme," Philips Executive Vice President and Chief Information Officer Jeroen Tas said.

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