Cognizant bags business excellence award

CHENNAI, INDIA: Cognizant, a provider of IT, consulting, and business process outsourcing services, on Friday announced that it has won the Excellence in Business Transformation award at the first annual Partner Excellence Awards presented by Pegasystems Inc., a provider of business process management (BPM) and customer relationship management (CRM) solutions.

Cognizant received the award for a major business transformation program it is implementing at Medco Health Solutions, Inc., a pharmacy benefit manager (PBM), to help it achieve significant productivity gain, improve customer satisfaction, keep up with regulatory changes, and define new benchmarks in the PBM industry, said a press release.

As part of the engagement, Cognizant is helping Medco optimize, automate, and re-engineer a range of business functions, such as order processing, client, physician, and patient advocacy, and therapeutic resource centers.

In keeping with the needs of Medco’s business expansion, Cognizant is supporting Medco’s complex business lines capabilities, and providing thought leadership and management support to Medco in the areas of program governance, BPM, and delivery management.

“Working with Cognizant on this critical business transformation program enhances Medco’s competitiveness and reinforces our desire to be innovative at every level,” said Kenny Klepper, Medco’s president and COO.

“Our relationship with Cognizant has allowed us to leverage its extensive domain, technology, and consulting capabilities to further our mission of providing millions of Americans access to affordable, high-quality prescription healthcare,” he added.

“We are delighted to work with Medco to realize its goal of becoming an agile enterprise by building the capability to rapidly optimize and redesign core business processes,” said Krish Venkat, executive vice president and global leader of Cognizant’s Healthcare practice.

“In times of regulatory changes, coupled with commoditization of services, the business transformation program at Medco will help it customize processes rapidly for different market segments, deliver significant improvement in productivity, and lower the cost of healthcare for all. This accolade underscores our reputation as a business partner best equipped to help global healthcare corporations transform their businesses and hone their competitive advantage,” Venkat added.