Feb. 20, 2014
(NASDAQ: CTSH) today announced that it has been positioned as a "Leader" in the IDC Health Insights "IDC MarketScape" worldwide IT and BPO vendor assessments* across the entire life sciences value chain: Research and Development, Manufacturing and Supply Chain, and Sales and Marketing. Cognizant was also named a "Leader" in Strategic Consulting across Manufacturing and Supply Chain, and Sales and Marketing.
The evaluations were based on a comprehensive framework, and assessed service providers across key characteristics, including functionality or offering road map, delivery model, portfolio strategy, customer base, go-to-market capabilities, customer references, pricing model, sales/distribution strategy, marketing strategy, engagement capabilities, growth strategy, financial and funding model, employee strategy, and innovation/R&D pace and productivity.
"Cognizant has extensive experience working with life sciences companies across all three sections of the industry: pharmaceutical, biotech, and medical devices," the reports noted. Based on feedback from multiple customer references, Cognizant scored high marks for technical skills, project/account management capabilities, understanding of clients' business needs, ability to rapidly staff projects to minimize business disruption, and overall value delivered to clients.
"Being the only company to be positioned as a Leader in eight of the nine reports spanning the life sciences value chain validates our extensive industry experience and integrated service capability to help life sciences companies remain competitive for the future," said Shankar Narayanan, Vice President of Cognizant's Life Sciences practice. "To maximize returns and enhance agility, life sciences companies must optimize clinical systems and pharmaceutical discovery, pre-clinical, and product development processes, while building a stronger compliance foundation, streamlining the managed markets lifecycle, and strengthening customer and stakeholder relationships. Maintaining market leadership is no longer just about 'running better' by enhancing clinical operations, drug safety, and sales effectiveness. It is also about 'running different' by developing new strategies, skills, and routes to market, adopting best-in-class industry practices, and leveraging next-generation SMAC (social, mobile, analytics, and cloud) technologies to improve health outcomes. In Cognizant, life sciences companies have a partner who can help them balance between highly regulated and rapidly innovating environments."