Innovation Perception: Cognizant and Accenture
In terms of specific services, the offerings of Cognizant and Accenture are similar. Both offer Telecom IT Managed Service, Telecom IT Strategy, Telecom IT Implementation Services, Digital Technology Strategy, and Digital Business Implementation Services. In addition, Cognizant offers Digital Business Implementation Services and Business Management Services. As both companies are considered among the top tech companies these competitors each rates highly on review sites and in industry analyses. Both have received numerous awards by clients, vendors, and industry analysts. A detailed look at both companies is below.
- Both Accenture and Cognizant are among the 150,000 companies that used the cloud computing service Salesforce for customer relationship management (CRM).
- As of July 2019, Accenture is ranked 1st in SalesForce.com Implementation vs Cognizant which is ranked 7th in SalesForce.com Implementation by ITcentralstation, a tech review website praised by the Wall Street Journal.
- The Everest Group which ranks service providers for their performance in 26 categories, including key business lines, geographies, and technologies, ranked Accenture as #1 and Cognizant as #3 in its top 20 list of service providers in 2018. Accenture held its top spot from 2017, while Cognizant slipped from second to third position in 2018.
- A comparison of the two companies by Gardner.com that evaluates surveys by vendors and customers from many industries gives an overall peer rating of 4.2 to Accenture based on 13 reviews and of 4.5 to Cognizant based on 10 reviews. Of these 77% were willing to recommend Accenture vs. 80% for Cognizant.
- Growth is a measure of how the marketplace regards a company's performance and innovation.
- Over the last 10 years, Cognizant growth of 10% or more annually has outpaced its competitors until 2018.
- In 2018, Accenture's growth of $3.63 billion was expected to contribute to a 10.4% growth rate as compared to a 10% growth rate at Cognizant. Rivals TCS, Cognizant, Infosys and Wipro were expected to have total new revenues of $3.81 billion.
- Livemint attributed the better performance of Accenture to the aggressive expansion of digital technologies such as investments strong consulting practice and in new technology areas like cloud computing, expansion of design capabilities, and data analytics. The $1.7 billion it spent to buy 37 companies exceeds what TCS, Infosys and Wipro spent since April 2014 ($1.58 billion.)
- These numbers challenge the dominance that Tata Consultancy Services Ltd (TCS), Cognizant Technology Solutions Corp., Infosys Ltd, and Wipro Ltd. have held since 2000.
ONE OFFICE TECHNOLOGY
- According to research organization Horse for Sources, (HFS) today's digital businesses must unify front, middle, and back components of operations. It is crucial to weave together all three so the customers and employees can work together closely to create a superior customer service in a competitive marketplace.
- Accenture's overall performance exceeded that of Cognizant across the OneOffice portfolio. The company offers significant expertise in the industry while placing in the Winners' Circle for every component of the Blueprint studies used to access progress in unifying OneOffice.
- While Accenture performed well, it needs to better integrate acquisitions, develop its Design Thinking capabilities to other elements of services outside the front office, and maintain its pattern of growth, according to HFS.
- Meanwhile, Accenture must prove that it can perform in delivering a Digital OneOffice experience. While it can implement projects for clients, it must prove it can create the strategic design and then implement it. The ability to merge these two functions "is still in its infancy."
AWARDS RECEIVED BY ACCENTURE
According to its website, the company received the following awards:
- #248 on Forbes’ Global 2000 for16 consecutive years.
- #316 on FORTUNE’s Global 500 for 17 consecutive years.
- #40 on Harvard Business Review’s 100 Best-Performing CEOs for three consecutive years.
- #1, brand value increase of 56%, on Brand Finance’s Most Valuable IT Services Brand for two consecutive years.
- #23, brand value increase of 30%, on BrandZ’s Top 100 Most Valuable U.S. Brands for two consecutive years.
- #34, brand value increase of 14%, on Interbrand’s Best Global Brands for 17 consecutive years.
- Recognized on Fortune’s Blue Ribbon Companies nine times.
- #36 on Fortune's World’s Most Admired Companies for 17 consecutive years.
- #1 on Fortune's World’s Most Admired Companies: IT Services Category for six consecutive years.
- Recognized among Ethisphere’s World’s Most Ethical Companies for 12 consecutive years.
- #7 on Wall Street Journal’s Management Top 250 for two consecutive years.
- Accenture was named a top employer in seven countries: Belgium, France, Germany, Italy, Poland, Portugal, and Spain.
AWARDS RECEIVED BY COGNIZANT
Cognizant was recognized as a top employer in eight European countries: Belgium, Germany, Netherlands, Norway, Spain, Sweden, Switzerland, and United Kingdom.
Some of the company's many awards are mentioned on its website:
- #193 on 2019 Fortune 500.
- #16 on Barron's 100 Most Sustainable Companies for 2018.
- #17 on Future 50 for 2017.
- 11 years as One of Fortune's Most Admired Companies.
- #18 on the Forbes' Fast Tech 25 for 2016.
- #74 on Forbes' Best Employers for Women 2018.
Some of Cognizant's many other awards received include:
- 2018 Best Company of the Year award for being an inspirational role model for the IT-BPM industry, both for the business community in the Philippines and internationally.
- 2018 Best Company of the Year Providing Services for Health Information Management award for the world-class healthcare-related services the company delivers from the Philippines to the international healthcare industry.
- 2018 Best C-Suite Team of the Year in recognition of its pioneering role in promoting excellence in Information and Communication Technology in the region.
- 11 Brandon Hall awards to Cognizant and its Cognizant Academy for digital learning through training programs that work within the virtual workplace while offering modern learning experiences for tomorrow's workforce for four consecutive years.
While both companies are viewed as leaders in digital communications by clients and their peers, Accenture has recently edged out Cognizant in all categories. The long-term performance of Cognizant is laudatory, but Accenture is currently outranking Cognizant in many measures.
To gain a comparative understanding of the two companies, your research team examined the websites of Cognizant and Accenture to gain a better understanding of the services the two firms offer, as well the awards they have won. We also examined the findings of several websites that evaluated the innovation and business performance of the two companies to determine some key measures of innovation, such as growth, customer service, and adoption of One Office, the integration of front, middle, and back office services.
Our research also touched on employee perceptions of how innovative each company is. We left these findings out of the final report as the scope indicated a specific concern for how clients and experts viewed the companies. Both companies have won numerous awards but given time constraints, we presented only some awards that each has won. Each company is highly respected globally as an innovative provider, although Accenture is moving up in most rankings.