Cognizant Technology Solutions, which achieved the highest annual revenue of $18.5 billion in 2021, will be a $20-billion company this year, said Rajesh Nambiar, Chairman and MD, Cognizant India, and President, Digital Business & Technology, Cognizant. “We are very bullish this year,” Nambiar told BusinessLine while discussing the company’s Q4 and 2021 financial performance.
The US-based company, which was formed in 1994, crossed the $5-billion revenue mark in FY11; $10 billion in FY14; $15 billion in FY18 and will touch $20 billion this year.
Nambiar said in 2021, there was growth in all the markets with North America alone contributing nearly 75 per cent of the revenue, and the rest from Global Growth Markets (GGM), which includes Europe and the Rest of the World.
“The GGM is growing at a much higher clip, and twice as much when compared to North America. Our goal is to have a much broader international footprint in 2022. We constantly work on globalising Cognizant. This means expansion into GGM; make meaningful investments in markets like UK, ANZ, Germany and Japan where Cognizant needs to be larger and the growth potential is much higher in these countries. This does not mean that Cognizant would not grow in North America, which will also grow at 10-11 per cent. However, it is important for us to balance it out and increase our footprint in GGM as well in 2022,” he said.
Nambiar said that digital capability represents nearly 45 per cent of the revenue today. “We believe it can be 55-60 per cent of the revenue in the coming years. This represents the strength in our digital credentials. In Q4, we were named as industry leaders in 17 new reports from top analysts. It was a huge uplift from a positioning point of view. They highlight client partnership, scalability and expertise as matters by recognising our leadership, ” he said.
Acquisition spree
On acquisitions, Nambiar said the company acquired seven companies in 2021 alone. All these brought in talent, technology and ability to look at spaces that the company would not have looked at before.
On the roadmap for 2022, it is about execution and the ability to address the supply side even better as the company is growing at a higher clip. “We have got our digital story really well. Accelerating digital is not only a driver for double digit revenue growth but also improved margins and fosters greater client intimacy. We also get a higher level of employee engagement; have the employees for longer periods and have the ability to have the right growth path. We also participate in strategic transformation with clients, and leverage the advanced capabilities and skills. The broader strategy of accelerating digital as a core and increasing our relevance to clients will really be the key for us in the growth of 2022,” he said.
Published on
February 03, 2022
