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The Ingredients for a Successful, Long-Term Partnership

 

 

As we step in to industry’s 4.0 era, technology will continue to play a vital role in revolutionizing the way businesses interact, operate and perform. Partnerships that drive the technology innovation and enablement are essential to ensure effectiveness and ease of use of systems and platforms.

 

However, there’s much more to a strong partnership than sharing leads or doing joint marketing.

First and foremost, solid partnerships should be based on bringing new or stronger benefits to the customers of both parties. In some cases, partnerships can bring new services to clients that a company on its own can’t offer. Other partnerships may bring technologies that provide new functionality and add value to a solution.

Secondly, the partnering companies need to have synergy - compatible philosophies when it comes to customer service, research and development. The most effective partnerships also bring expertise and new capabilities to each partnering company. As with a tennis doubles team, partnerships can also offset weaknesses. For instance, companies looking to enter new markets often rely partner with a company established in the market to help build brand awareness and supply local business knowledge.


Strong partnerships have been part of Cognizant’s business strategy for many years.

Cognizant develops partnerships and strategic alliances with world-class organizations to deliver high-impact digital solutions to its clients.
There are a number of simple prerequisites for a partnership to succeed:

 

  • Mutual focus on customer value and satisfaction
  • Leadership commitment of both companies
  • Ability to scale up in a short time 
  • Go-to-market and execution strategy
  • Aspiration of both companies act as truly strategic partners for each other
  • Mutual investment in training and enablement of subject matter experts
  • Internal and external marketing to support the partnership
  • Thought leadership driven through white papers, blogs, webinars, and other communications

 

It is only after a thorough selection procedure in which we carefully measure the potential of a future partnership along these dimension, we decide to enter into a strategic alliance agreement. As a result of this procedure Cognizant and CCH Tagetik entered into a strategic alliance agreement in February 2016.

 


The digital CFO

As organizations create new digital strategies to improve experience, effectiveness and efficiency across functions, the role of the CFO is changing. CFOs are exploring new revenue models, re-engineering business processes, and using cloud to achieve more organizational agility and scalability of the organization.
The CFO now brings in a broader business perspective, an increased focus on organizational vision, and insights from data to ensure more effective decision making. Having good quality data and being able to apply analytics is the bedrock of any digital imperative. The CFO’s office plays a pivotal role in any organization’s digital journey.


In order to succeed in this new role and meet new expectations, the CFO needs to be supported by state-of- the-art and best in class performance management solutions and services. Cognizant’s Enterprise Performance Management Practice, as part of Cognizant’s Digital Business service line, has a proven track record formulating strategies and creating solutions to enable the CFO’s office to change the way businesses operate and achieve more agility and execution power. CCH Tagetik has a similar track record and is seen as a leader by independent analyst companies. Working with a leader in digital services (Everest Group, October 2016) and a visionary in performance management (Gartner, May 2016) is a true benefit for our clients.

 


Going forward

With the partnership formed just over one year ago, we already have seen clear benefits for our clients. Weeks after we signed the agreement, we paid the CCH Tagetik headquarter in Lucca a visit to work on our strategic go-to-market plan and came out with a very solid plan involving enablement, training, marketing and sales execution. With an initial focus on enabling seasoned finance consultants, we rapidly moved into execution and since then have engaged with many clients across the globe - from Asia-Pacific to the Middle East, from Europe to North America.

 

Though the partnership is young, clients are impressed by the services Cognizant can provide: including business advisory, data curation, implementation and support. We have ported our proven industry to the CCH Tagetik environment to make sure also our CCH Tagetik customer benefit the most from our experience in various

 

 

A young and successful partnership: CCH Tagetik and Cognizant

 

 

With a team of 500 seasoned Finance professionals, we now have trained and certified around 10% . As we continue to grow our digital business we will continue to invest in the relationship. With companies re-evaluating their existing legacy performance management solutions to meet the growing demand for agility and scalability at lower cost, we see ample opportunity for our partnership and above all, much added value for our clients.

 

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