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2 Tech Stocks Overview-> Cognizant Technology Solutions Corp (CTSH), Veeva Systems Inc (VEEV)

On Friday, Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) increased 1.01% and closed at $66.96 after opening 66.40 with the overall traded volume of 2.53 million shares. The company’s Market capitalization reached to $39.84 billion, $589.00 million outstanding shares. Its low price was $66.37 and the highest price was $67.32.

Cognizant Technology Solutions Corp (CTSH) on June 27, 2017 announced that it has been named a “Leader” and “Star Performer” by Everest Group in the recently published report, Property and Casualty Insurance BPO – Service Provider Landscape and PEAK Matrix Assessment 2017.

The PEAK Matrix report assesses 18 leading property and casualty insurance business process services providers. Cognizant is recognized as a “Leader”  for strengths including a strong value proposition driven by robust capabilities in analytics, regulatory reporting, risk management and technology-aided business process delivery,  as well as substantial market share and sustained growth in property and casualty insurance business process services. Everest Group cites Cognizant’s high buyer satisfaction and continued investments in technology and automation as factors expected to drive additional growth. Cognizant was also cited as a “Star Performer” for further improving its year-over-year leadership position.

“The global P&C insurance BPO market continues to grow at a double-digit pace,” said Saurabh Verma, Senior Analyst, Everest Group. “New buyers are outsourcing operations previously kept in house, and existing buyers are demanding value-add capabilities and technology-aided BPO delivery to drive business growth, reduce time to market, build multi-channel capabilities and win higher customer mindshare. Cognizant is among the leaders who are delivering the robust capabilities necessary to satisfy buyers’ evolving demands, including a strong and expanding suite of technology and automation tools, along with rich capabilities in analytics, regulatory reporting, and risk management.”

“Digital solutions are driving significant changes in the way property and casualty insurers manage their businesses.  Digital adoption influences every aspect of the insurance value chain, from omni-channel sales and distribution to analytics-enabled risk selection and automated claim decisions,” said Vipul Khanna, Executive Vice President of Digital Operations at Cognizant.  “Our process and platform solutions enable clients to enhance customer experience, improve underwriting results and reduce operational and loss adjustment expenses.”

Shares of Veeva Systems Inc (NYSE:VEEV) increased 3.37% and closed at $62.35 after opening 60.64 with the overall traded volume of 1.17 million shares. The company’s Market capitalization reached to $8.96 billion, $108.78 million outstanding shares. Its low price was $60.52 and the highest price was $62.59. The EPS is 0.66.

Veeva Systems Inc (VEEV) on June 28, 2017 announced today that Santhera Pharmaceuticals selected Veeva CRM and Veeva OpenData as a commercial software and data platform for its first product launch. The rare disease pharmaceutical company is adopting Veeva Commercial Cloud solutions to establish a consistent, global approach to commercialization.

Accurate customer data is foundational for commercial excellence, especially with today’s growing number of stakeholders. Veeva brings together complete customer data and multichannel engagement to help life sciences organizations enhance their interactions with healthcare professionals worldwide. Field teams have up-to-date customer reference data where they need it most to enable faster and tailored interactions. When users submit data change requests, they are properly verified and updated in hours versus the industry average of 10 or more days.

A recent survey showed that the majority of companies struggle with customer data quality issues. Incorrect physician addresses, not knowing which doctors to contact, or outdated information about specialty and license status create frustration among field teams and impact efficiency. Bad data can also lead to compliance risks. That’s why according to our research 78% of companies have initiatives underway to improve data quality within the next two years.

“There is a major transition happening across the industry as companies focus on better customer data for improved commercial effectiveness,” said Guillaume Roussel, director of strategy for Veeva OpenData. “Veeva OpenData and Veeva CRM are changing how the life sciences industry sources and manages data to drive greater speed, productivity, and execution globally.”

 

 

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