NEW DELHI, INDIA: Cognizant, a provider of consulting, business process outsourcing services, announced on Thursday that it has been recognized as an emerging challenger in the technology-enabled business services market, according to a Forrester Research, Inc. report entitled, “SWOT: The Evolution of IT Service Providers to Business Technology Competitors.”

The July 2009 report states, “Cognizant’s clear focus on vertical market expertise is helping it drive deeper into business processes in an attempt to move up the value chain.”

“For years, leading companies in this market have based their value propositions on the ability to provide comprehensive business solutions. While many IT service providers offer complete technology services, these leading firms distinguish themselves through their ‘end-to-end’ technology services and their proactive business-focused marketing approach. At the same time, these market leaders are facing new competition from companies like Cognizant that recognize that perhaps the best opportunity to create differentiation and value amid a new wave of global competition is through increased business alignment,” the report said.

Francisco D’Souza, president and CEO, Cognizant, said, “Our continued investment in our Cognizant Business Consulting (CBC) practice, client relationships, and domain expertise, along with our strategy of focusing on providing industry-aligned business process outsourcing, are helping clients find opportunities to address both the cyclical challenges of the economic downturn and the structural challenges that their industries are facing.”

“Through our business consulting practice, we are increasingly becoming trusted advisors to CXOs,” said Mark Livingston, senior vice president, Cognizant Business Consulting.

“We deliver a broad range of strategic consulting services aimed at reducing cost, improving operational efficiency, and driving globalization, innovation and business agility,” he added.