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<keyword id="28721" type="CITY" weightage="80" keywordseo="Cognizant">Cognizant</keyword> Technology Solution had acquired healthcare technology firm <keyword id="2518039" type="UNKNOWN" weightage="80" keywordseo="Trizetto">TriZetto</keyword> last September and since then the firm has developed Trizetto into its most potent tool in automation solutions, which is considered to be the future for IT services companies. 
 
The Healthcare Process Automation (HPA) platform of TriZetto is now Cognizant's most versatile automation platforms and the company is using this as the seed to build automation capabilities across other key verticals, like banking and financial services. 
 
Economic Times reported that automation, artificial intelligence and machine learning capabilities, which Cognizant improved with the TriZetto $2.7-billion acquisition, are a main part to its plan to generate more revenues with few employees. 
 
Automation- using robots and machine learning to do tasks otherwise done by humans faster and cheaper- will shape the future of the $146-billion IT industry in India, which employs nearly four million people. 
 
With shrinking profits, IT services companies can't always hire more heads to meet client needs. 
 "Let's be frank - revenue can't be linked to manpower addition forever. Such a model is just not sustainable," a Cognizant executive, involved with the <keyword id="2883244" type="UNKNOWN" weightage="80" keywordseo="robotics-automation">robotics automation</keyword> project, told ET on condition of anonymity. 
 
Till now, Cognizant was lagging behind its competitors in its move towards automation. But experts told the financial daily that it may even sneak up ahead. 
 
"All top players are neck-to-neck with each other; Cognizant has done an impressive job of catching up," Sarah Burnett, vice president of research at Everest Group told ET, adding, “Everyone is being extremely aggressive (on automation), especially if you look at the likes of TCS, Cognizant and Infosys.” 
 
In its report, the financial daily stated that in last two years, Cognizant managed to infuse elements of machine learning, robotics automation and artificial intelligence in projects across 120 "strategic customers" - those that give out between $5 million and $50 million or more of annual business. 
 
“By implementing powerful IPA technologies - including artificial intelligence, machine learning and deep learning - we are driving significant savings, faster time to market, enhanced business insights, better regulatory compliance and transformation of core business processes to help companies become digital enterprises," Cognizant CEO Francisco D'Souza said in an email to ET. 
 
IT services companies have been hiring hundreds of thousands of engineers to churn out countless lines of code that would earn it billions in revenues. 
 
But due to global financial crisis of the past decade, top technology buyers have been gradually tightened purse-strings. 
 
To accommodate such price cuts, Indian IT firms are turning to robots. 
 
This has clearly raised the debate of man versus robot. 
But, Cognizant is not the only one looking to become leaner. ET reported that Wipro and Infosys are aggressively making strides in driving the use of artificial intelligence through their organisations to replace manual, repetitive tasks being overseen by engineers. 
 
(Image: Indiatimes)

Cognizant’s robotic automation raises man versus robots debate

NEW DELHI: <keyword id="28721" type="CITY" weightage="80" keywordseo="Cognizant">Cognizant</keyword> on Monday announced that it will acquire US-based healthcare technology &amp; operations company <keyword id="2518039" type="UNKNOWN" weightage="80" keywordseo="Trizetto">Trizetto</keyword> for about $2.7 billion in cash. "With more than $3 billion in combined healthcare revenue, Cognizant and TriZetto will serve nearly 245,000 healthcare providers," a press release from Cognizant said. 
 
"Healthcare is undergoing structural shifts due to reform, cost pressure and shifting responsibilities between payers and providers. This creates a significant growth opportunity, which TriZetto will help us capture," said Francisco D'Souza, CEO of Cognizant. 
 
"We are excited that the integrated portfolio of capabilities across technology and operations will uniquely position us to help clients drive higher levels of operational efficiency, while re-imagining care for the future," D'Souza said. "We look forward to welcoming the TriZetto team into the Cognizant family and creating a truly differentiated and sustainable foundation for healthcare," he added. 
 
According to the company's press release, Cognizant expects this acquisition to "accelerate significantly its market position and strategy of delivering innovative healthcare software and solutions to a wide range of healthcare clients." 
 
TriZetto and its 3,700 employees will be a part of Cognizant's existing healthcare business, which currently serves more than 200 clients, the release said. 
 
"Our agreement with Cognizant advances our vision of simplifying healthcare for everyone. We believe the combination of Cognizant and TriZetto's talented employees and innovative technology and operations will have a meaningful impact on the way health is managed and care is delivered," said Jude Dieterman, President and COO of TriZetto. 
 "Cognizant intends to <keyword id="25455" type="ORGANIZATION" weightage="60" keywordseo="finance">finance</keyword> the transaction through a combination of cash on hand and debt, and has secured $1 billion of committed financing in support of the transaction," the release said. The transaction is expected to close in the fourth quarter of 2014. 
 "Cognizant was advised by <keyword id="48085" type="CITY" weightage="80" keywordseo="Credit-Suisse">Credit Suisse</keyword>, UBS Securities LLC and Centerview Partners. Legal counsel to Cognizant was provided by Latham &amp; Watkins LLP and Nishith Desai Associates. TriZetto was advised by <keyword id="2518200" type="UNKNOWN" weightage="80" keywordseo="JP-Morgan-Securities-LLC">JP Morgan Securities LLC</keyword> and Goldman, Sachs &amp; Co. Legal counsel to TriZetto was provided by Kirkland &amp; Ellis LLP," the press release stated.

Cognizant to acquire US-based Trizetto for about $2.7 billion

<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd"><html><body><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Businesses, and the very concept of work for that matter, must adapt or perish in the new economy of algorithms, automation, and artificial intelligence. Some of today's startups seem to have been born digital, while other companies are still operating with the trappings of a brick-and-mortar past.The new business paradigm is digital, a global economy where the ability to embrace new machines and information-age business models is a key to good business. <a href="https://www.cognizant.com/the-work-ahead" target="_blank" rel="nofollow">"The Work Ahead: Insights to Master the Digital Economy,"</a> a recent study from Cognizant's Center for the Future of Work revealed that early adopters win. Here's why.<h2>It minimizes the 'Laggard Penalty'</h2>Upgrading your approach early gives technology more time to return on the investment costs. Cognizant's study identified digital leaders based on what they've invested in going digital and the subsequent effect on revenue and costs over the last financial year. Firms were compared by their implementation of digital business strategies, processes, and services.The difference between cost and revenue performance due to technology was dubbed the "Laggard Penalty." Businesses with a lower Laggard Penalty are the digital leaders, the visionary early-adopters. For non-leaders, the average penalty "paid" by each company studied is expected to be $692 million between 2015 and 2018.<h2>It helps understand the customer's digital experience</h2>Repackaging the business models of the past will not be enough. Customers expect convenient, user-friendly, intuitive interactions online and are willing to abandon a service entirely over perceived breaches of internet etiquette. Early adopters will have less competition in the beginning and better brand loyalty, leading to a superior, more reliable revenue stream.Everything a company does in the digital age will be affected by society's transition from traditional transactions. As customers come to expect their access to goods and services to be facilitated by new technologies, going digital will be a must. Early-adopting businesses will be better adjusted and comfortable with digital, while late-blooming competitors struggle to catch up.<h2>Automation can shrink costs</h2>Early adopters will find that automation can drastically reduce costs, and free up revenue for reinvestment in tech, often addressing hidden inefficiencies. A more efficient office environment enables companies to attract - and retain - talent with better hours, more creative freedom, and higher salaries. Some say sales and marketing already live squarely in the digital age, yet back-of-the-house automation was a surprisingly unexplored application, according to the surveyed businesses. There are some successful examples of cost-cutting automation being past the theoretical phase. Companies such as TriZetto, a Cognizant healthcare-software subsidiary, use software robots to decrease payer costs by as much as 90% for some middle-office business processes. Other companies, like Blue Prism, are applying bots to risk, fraud, claims processing, and loan management in banking to save millions. By using bots, AI, blockchain, and other software solutions, the automated back office will likely seem standard in the coming years. Some may consider adopting new technologies counterintuitive. Risk is a persistent aspect of business, but the risk of going first can be uniquely daunting. Early adoption may make more sense when the quick-changing nature of technology is considered. Prioritizing adaptability and a love of technology will be the qualities of a strong business leader in the digital age.<a href="https://www.cognizant.com/the-work-ahead%20" target="_blank" rel="nofollow">Read more from the Cognizant study here.</a>This post is sponsored by <a href="https://www.cognizant.com/" target="_blank" rel="nofollow">Cognizant.</a></body></html>Find out <a href="http://www.businessinsider.com/sponsor-posts">more about Sponsor Content</a>.

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Cognizant’s robotic automation raises man versus robots debate

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Cognizant to acquire US-based Trizetto for about $2.7 billion

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Why early adopters win in the digital age

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