Cognizant is top IT company: Forbes

BANGALORE: Cognizant Technology Solutions Corporation has been selected as the top technology company in the Forbes 2002 list of best small companies in America.

Forbes evaluated companies based on five-year sales and earnings per share (EPS) growth rates. In order to qualify for the list, a company was required to demonstrate both a five-year average return on equity and a net margin of at least five percent. Cognizant’s average return on equity of 25 percent, 62 percent annualized sales growth, and 108 per cent annualized EPS growth placed the company well ahead of its industry peers on Forbes’ list.

"Cognizant has established itself as a leader in the fast growing offshore outsourcing market in a relatively short time, by building a leading fourth generation offshore services business model," said Cognizant, Chairman and CEO, Kumar Mahadeva.

"Our focus on delivering high value technology solutions to clients in the U.S. and Europe through its unique onsite/offshore service model has gained widespread acceptance among large blue chip companies. Our customers continue to turn to Cognizant’s cost and quality advantages for ongoing management and development of their large-scale business applications. This recognition from Forbes further confirms the value of Cognizant’s offshore services model as a core part of our clients’ IT strategy, " he added.

Cognizant’s fourth generation model is focused not just on technology, but on delivering measurable business results. For example, Cognizant’s transformational outsourcing offering can completely transform a client’s application portfolio and IT organization. The company’s executive management is also headquartered in the US and Europe, in close proximity to clients.