Cognizant to offer F&A services to Volvo

BANGALORE, INDIA: Cognizant, a provider of consulting, technology, and business process outsourcing services (BPO), on Thursday announced that it has been selected by Volvo Car Corporation to deliver a broad spectrum of Finance and Accounting (F&A) services.

As per the terms in the agreement, Cognizant will operate and optimize Volvo's F&A processes, while improving cost effectiveness and service delivery, said a press release.

Cognizant will participate in the entire value chain of F&A services ranging from accounts payables, receivables and fixed assets, to accounting, general ledger and periodic end closing, along with procurement services for production and non-production materials, the release added.

"We look forward to leveraging innovative service models and best practices in F&A transaction processing to help Volvo Car Corporation realize process improvements, increase automation, drive cost efficiencies, enhance business effectiveness and improve productivity," said Santosh Thomas, senior vice president and head of continental European operations for Cognizant.