(CTSH) Cognizant Technologies Funds IT Program

Leading IT services provider Cognizant Technologies (CTSH) joined up with New-York based NPower, an organization which connects other non profit organizations to the best and most affordable IT through a range of managed services, consulting and skilled IT volunteer programs, while also providing IT training to young adults.

Cognizant has undertaken a three-year financial commitment to support NPower across its entire line of services and programs. These services include Technology Service Corps – providing IT training and career development to less privileged  young adults; The Community Corps, which connects skilled corporate IT volunteers with nonprofit organizations seeking people; and IT Professional Services, which provides nonprofit organizations with a range of managed services and consulting programs.

Management stated that investing in technology education has been a top priority for Cognizant. Earlier, Cognizant entered into a three year agreement with the MIT Center for Digital Business (CDB) to fund research on the impacts of new technologies in the communications, information, media and entertainment (CIME) industries.

The advent of powerful new communication tools has changed processes, products, revenue models, pricing, internal organization, and customer relationships in a big manner. Cognizant believes that the agreement with MIT will help its CIME clients to understand the emerging social workplace by providing frameworks and insights to address these new competitive challenges.

Scale expansion into new geographies and scope expansions into new processes represent a substantial opportunity for growth for Cognizant. During 2010, Cognizant saw a surge in discretionary spending resulting from the release of pent-up demand over two years when most clients underinvested in technology.

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