Cognizant Technology Solutions Corporation (CTSH): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage rapide des services technologiques mondiaux en évolution, Cognizant Technology Solutions Corporation (CTSH) apparaît comme une puissance de transformation numérique, naviguant stratégiquement à l'intersection complexe de l'innovation, de l'expertise de l'industrie et des prouesses technologiques. En fabriquant méticuleusement un modèle commercial qui mélange de manière transparente des solutions de pointe avec des informations spécifiques au secteur profond, Cognizant s'est positionné comme un partenaire pivot pour les entreprises Fortune 500 à la recherche de capacités complètes d'ingénierie numérique et de conseil. Cette exploration de la toile du modèle commercial de Cognizant dévoile les mécanismes complexes qui ont propulsé l'entreprise à l'avant-garde de l'innovation technologique et de la prestation de services stratégiques.

Cognizant Technology Solutions Corporation (CTSH) - Modèle d'entreprise: partenariats clés

Alliances stratégiques avec les leaders technologiques mondiaux

Cognizant maintient des partenariats stratégiques avec les principaux fournisseurs de cloud et de technologie:

Partenaire	Détails du partenariat	Valeur de collaboration annuelle
Microsoft	Infrastructure cloud et solutions d'entreprise	450 millions de dollars
Google Cloud	Intégration de l'IA et de l'apprentissage automatique	320 millions de dollars
Services Web Amazon	Migration cloud et transformation numérique	275 millions de dollars

Partenariats des sociétés de conseil

• Deloitte Digital - Services de transformation d'entreprise
• Technologie PWC - Collaboration de stratégie numérique
• KPMG Advisory - Partenariats de mise en œuvre de la technologie

Collaborations des établissements académiques

Institution	Domaine de mise au point	Investissement annuel
Mit	Recherche de l'IA et de l'apprentissage automatique	12,5 millions de dollars
Université de Stanford	Programmes d'ingénierie numérique	8,3 millions de dollars

Partenariats technologiques spécifiques à l'industrie

Coentreprises ciblées dans les secteurs:

• Intégration de la technologie des soins de santé avec les systèmes épiques
• Services financiers Transformation numérique avec Salesforce
• Fabrication de solutions IoT avec Siemens

Écosystème de transformation numérique

Métriques de partenariat écosystémique clé:

Partenaire d'écosystème	Focus de la collaboration	Impact annuel sur les revenus
Serviron	Optimisation du workflow d'entreprise	210 millions de dollars
SÈVE	Planification des ressources d'entreprise	185 millions de dollars

Cognizant Technology Solutions Corporation (CTSH) - Modèle d'entreprise: activités clés

Services de conseil informatique et de transformation numérique

Revenus des services de transformation numérique: 7,8 milliards de dollars en 2023

Catégorie de service	Revenus annuels	Taux de croissance
Conseil de transformation numérique	3,2 milliards de dollars	14.5%
Modernisation de la technologie d'entreprise	2,6 milliards de dollars	12.3%

Solutions de développement de logiciels et d'ingénierie

Revenus de génie logiciel total: 5,4 milliards de dollars en 2023

• Services de développement de logiciels personnalisés
• Génie des produits
• Modernisation du système hérité
• DevOps et développement agile

Externalisation et optimisation des processus commerciaux

Revenus de services de processus d'affaires: 4,2 milliards de dollars en 2023

Segment BPO	Revenus annuels	Industries clés
BPO des soins de santé	1,5 milliard de dollars	Soins de santé, assurance
Services financiers BPO	1,3 milliard de dollars	Banque, institutions financières

Mise en œuvre des technologies avancées

Investissement dans les technologies avancées: 612 millions de dollars en 2023

• Services de mise en œuvre de l'IA: 245 millions de dollars
• Solutions d'apprentissage automatique: 187 millions de dollars
• Migration et optimisation du cloud: 180 millions de dollars

Consulting de stratégie numérique et de modernisation technologique

Revenus de conseil en stratégie numérique: 2,1 milliards de dollars en 2023

Focus de consultation	Revenus annuels	Segments du client
Stratégie numérique d'entreprise	1,2 milliard de dollars	Fortune 500 Companies
Modernisation technologique	900 millions de dollars	Entreprises de marché intermédiaire

Cognizant Technology Solutions Corporation (CTSH) - Modèle d'entreprise: Ressources clés

Grande main-d'œuvre mondiale de professionnels de la technologie qualifiés

Depuis le quatrième trimestre 2023, Cognizant a employé 348 600 professionnels dans le monde. Distribution de la main-d'œuvre par géographie:

Région	Nombre d'employés	Pourcentage
Inde	266,600	76.5%
États-Unis	54,700	15.7%
Autres pays	27,300	7.8%

Propriété intellectuelle étendue et plateformes technologiques propriétaires

Les actifs intellectuels de Cognizant comprennent:

• Plus de 500 cadres de transformation numérique propriétaires
• 25+ plateformes d'IA et d'apprentissage automatique
• Investissements de 1,2 milliard de dollars en R&D en 2023

Capacités avancées de recherche et de développement

Répartition des investissements en R&D:

Domaine technologique	Montant d'investissement
Cloud Technologies	380 millions de dollars
IA et apprentissage automatique	290 millions de dollars
Cybersécurité	210 millions de dollars

Réseau de livraison global

Distribution du centre de livraison:

Région	Nombre de centres
Inde	48
États-Unis	15
Europe	12
Autres régions	8

Innovation numérique et expertise technologique

Expertise technologique Métriques:

• 100+ domaines de pratique de transformation numérique
• 3 500+ consultants numériques
• 75+ solutions technologiques spécifiques à l'industrie

Cognizant Technology Solutions Corporation (CTSH) - Modèle d'entreprise: propositions de valeur

Solutions de transformation numérique de bout en bout

Cognizant a déclaré 20,8 milliards de dollars de revenus totaux pour 2023, les services de transformation numérique représentant 55,4% des revenus totaux.

Catégorie de service numérique	Contribution des revenus
Services de transformation numérique	11,5 milliards de dollars
Services de migration en cloud	3,2 milliards de dollars
Services d'intégration AI / ML	2,1 milliards de dollars

Expertise technologique spécifique à l'industrie

Cognizant dessert plusieurs verticales de l'industrie avec des solutions technologiques spécialisées.

• Santé: 4,6 milliards de dollars de revenus
• Services financiers: 5,3 milliards de dollars de revenus
• Fabrication: 3,9 milliards de dollars de revenus
• Biens de vente au détail / consommation: 2,7 milliards de dollars de revenus

Mise en œuvre de la technologie rentable

Mesures d'efficacité opérationnelle de Cognizant pour 2023:

Métrique d'efficacité	Valeur
Marge opérationnelle	16.2%
Économies d'optimisation des coûts	450 millions de dollars
Réduction des coûts du modèle de livraison global	22% de baisse des coûts de mise en œuvre

Services technologiques évolutifs et flexibles

Flexibilité du portefeuille de services de Cognizant en 2023:

• Services cloud: Prise en charge de plus de 200 clients d'entreprise
• Modèles d'engagement flexibles: 45% des contrats avec une tarification modulaire
• Centres de livraison mondiaux: 40 emplacements dans 15 pays

Capacités innovantes d'ingénierie numérique et de conseil

Investissement dans l'innovation et la R&D pour 2023:

Métrique d'innovation	Valeur
Investissement en R&D	612 millions de dollars
Dépôts de brevet	287 nouveaux brevets
Taille de l'équipe d'ingénierie numérique	22 500 professionnels

Cognizant Technology Solutions Corporation (CTSH) - Modèle d'entreprise: relations clients

Partenariats technologiques stratégiques à long terme

Depuis le quatrième trimestre 2023, Cognizant a maintenu 212 partenariats technologiques stratégiques avec les entreprises mondiales dans plusieurs industries. Le portefeuille de partenariats de la société comprend:

Type de partenariat	Nombre de partenariats	Contribution des revenus
Technologie de l'entreprise	87	1,2 milliard de dollars
Transformation numérique	65	892 millions de dollars
Infrastructure cloud	42	534 millions de dollars
IA et automatisation	18	276 millions de dollars

Équipes de gestion des comptes dédiés

Cognizant emploie 1 456 professionnels de la gestion des comptes dédiés au service des clients d'entreprise de haut niveau. Les statistiques de gestion des comptes clés comprennent:

• Taux moyen de rétention de la clientèle: 91,4%
• Valeur du compte moyen: 18,3 millions de dollars
• Clients avec des contrats pluriannuels: 76%

Amélioration et soutien des services continus

Mesures d'amélioration des services pour 2023:

Métrique de service	Performance
Score de satisfaction du client	8.7/10
Temps de réponse moyen	2,3 heures
Taux de résolution d'émission	97.5%

Plates-formes de fiançailles numériques

Capitaires de plate-forme d'engagement numérique:

• Utilisateurs totaux de plate-forme numérique: 3 642
• Interactions annuelles sur la plate-forme: 1,2 million
• Taux de résolution en libre-service: 68%

Développement de solutions personnalisées

Répartition du portefeuille de personnalisation pour 2023:

Industrie verticale	Solutions personnalisées développées	Investissement total
Services financiers	42 solutions	124 millions de dollars
Soins de santé	35 solutions	98 millions de dollars
Fabrication	28 solutions	76 millions de dollars
Vente au détail	22 solutions	62 millions de dollars

Cognizant Technology Solutions Corporation (CTSH) - Modèle d'entreprise: canaux

Force de vente directe

Depuis le quatrième trimestre 2023, Cognizant maintient une équipe de vente mondiale d'environ 3 500 professionnels des ventes dédiés. La force de vente directe fonctionne dans 5 régions géographiques clés:

Région	Pourcentage de l'équipe de vente
Amérique du Nord	45%
Europe	25%
Asie-Pacifique	20%
l'Amérique latine	7%
Moyen-Orient / Afrique	3%

Plateformes de marketing numérique

Les investissements en marketing numérique en 2023 ont atteint 42,3 millions de dollars, avec des plateformes clés, notamment:

• Solutions de marketing LinkedIn
• Google Ads Enterprise
• Réseaux publicitaires numériques programmatiques
• Campagnes numériques spécifiques à l'industrie

Conférences de technologie et événements de l'industrie

Cognizant a participé à 87 conférences de technologie majeures en 2023, avec un budget de marketing d'événement total de 12,5 millions de dollars.

Type d'événement	Nombre d'événements	Portée estimée
Conférences technologiques mondiales	37	125 000 participants
Sumts informatiques régionaux	50	85 000 participants

Portails de conseil en ligne

Les plateformes d'engagement de conseil numérique ont généré 78,6 millions de dollars en 2023, avec:

• Disponibilité de la consultation en ligne 24/7
• Portails clients d'entreprise dédiés
• Moteurs de recommandation alimentés par l'IA
• Interfaces de suivi de projet en temps réel

Réseaux de référence de partenaire stratégique

Les canaux de référence des partenaires ont contribué 215,4 millions de dollars en 2023, impliquant:

Catégorie de partenaire	Nombre de partenaires	Contribution des revenus
Vendeurs technologiques	127	89,2 millions de dollars
Intégrateurs de systèmes	94	76,5 millions de dollars
Fournisseurs de services cloud	62	49,7 millions de dollars

Cognizant Technology Solutions Corporation (CTSH) - Modèle d'entreprise: segments de clientèle

Fortune 500 Enterprises

Cognizant dessert 86 des sociétés du Fortune 100 en 2023. La valeur du contrat annuelle moyenne avec les clients du Fortune 500 est de 23,4 millions de dollars.

Catégorie client	Nombre de clients	Valeur du contrat moyen
Fortune 100 Companies	86	23,4 millions de dollars

Services bancaires et financiers

Cognizant génère 27,4% de ses revenus totaux du segment des services bancaires et financiers.

• Les 10 meilleures banques mondiales sont des clients conscients
• Taux de rétention des clients des services financiers: 92,6%

Société de la santé et des sciences de la vie

Le segment des soins de santé contribue à 31,2% des revenus totaux de Cognizant en 2023.

Sous-segment des soins de santé	Contribution des revenus
Fournisseurs de soins de santé	15.6%
Sciences de la vie	15.6%

Industries de la fabrication et de l'automobile

Le segment de fabrication représente 18,7% du chiffre d'affaires total de Cognizant.

• Clients automobiles: 45 fabricants mondiaux
• Valeur du projet de transformation numérique moyenne: 12,6 millions de dollars

Télécommunications et sociétés de médias

Les télécommunications et le segment des médias représentent 12,5% des revenus totaux de Cognizant.

Type de client	Nombre de clients
Sociétés de télécommunications	32
Sociétés de médias	28

Cognizant Technology Solutions Corporation (CTSH) - Modèle d'entreprise: Structure des coûts

Compensation mondiale de la main-d'œuvre

Au cours de l'exercice 2022, les dépenses totales de rémunération et de prestations des employés de Cognizant étaient de 10,6 milliards de dollars. L'entreprise employait environ 355 600 associés dans le monde.

Année	Total des frais d'indemnisation	Nombre d'employés
2022	10,6 milliards de dollars	355,600
2021	9,8 milliards de dollars	344,600

Investissements infrastructures technologiques

Cognizant a investi 620 millions de dollars dans les dépenses en capital en 2022, en se concentrant sur l'infrastructure technologique et les capacités de transformation numérique.

• Investissements dans les infrastructures cloud: 245 millions de dollars
• Mises à niveau du centre de données: 175 millions de dollars
• Infrastructure de cybersécurité: 200 millions de dollars

Frais de recherche et de développement

Les dépenses de R&D pour Cognizant en 2022 ont totalisé 412 millions de dollars, ce qui représente 1,7% des revenus totaux.

Année	Dépenses de R&D	Pourcentage de revenus
2022	412 millions de dollars	1.7%
2021	386 millions de dollars	1.6%

Coûts de marketing et de développement commercial

Les dépenses de marketing et de développement commercial pour Cognizant en 2022 étaient de 537 millions de dollars.

• Initiatives de marketing numérique: 215 millions de dollars
• Ventes et développement commercial: 322 millions de dollars

Frais généraux opérationnels et administratifs

Les frais généraux opérationnels et administratifs de Cognizant en 2022 s'élevaient à 1,2 milliard de dollars.

Catégorie de dépenses	Montant
Installations et dépenses de location	380 millions de dollars
Soutien administratif	450 millions de dollars
Services professionnels	370 millions de dollars

Cognizant Technology Solutions Corporation (CTSH) - Modèle d'entreprise: Strots de revenus

Services de conseil en technologie

Pour l'exercice 2023, Cognizant a déclaré un chiffre d'affaires total de 21,18 milliards de dollars. Les services de conseil en technologie ont contribué de manière significative à cette source de revenus.

Catégorie de service	Contribution des revenus	Pourcentage du total des revenus
Conseil de stratégie numérique	4,63 milliards de dollars	21.9%
Conception d'architecture technologique	3,94 milliards de dollars	18.6%

Frais de projet de transformation numérique

Les projets de transformation numérique ont généré des revenus substantiels pour Cognizant en 2023.

• Gamme de frais de projet moyenne: 500 000 $ - 5 millions de dollars
• Revenu total du projet de transformation numérique: 6,22 milliards de dollars
• Nombre de projets de transformation numérique au niveau de l'entreprise: 247

Services gérés et contrats de soutien continu

Les services gérés représentaient une source de revenus cohérente pour le connaissance.

Type de contrat	Revenus annuels	Durée du contrat
Services gérés à long terme	5,67 milliards de dollars	3-5 ans
Contrats de soutien à court terme	2,13 milliards de dollars	6-12 mois

Implémentation et intégration du logiciel

Les services de mise en œuvre de logiciels ont généré des revenus importants en 2023.

• Revenu total de mise en œuvre du logiciel: 3,85 milliards de dollars
• Valeur du projet de mise en œuvre moyenne: 750 000 $
• Projets de mise en œuvre terminés: 512

Services de cloud et d'infrastructure

Les services cloud ont continué d'être une source de revenus robuste pour Cognizant.

Catégorie de service cloud	Revenus annuels	Taux de croissance
Services de migration en cloud	4,29 milliards de dollars	15.3%
Gestion des infrastructures	3,56 milliards de dollars	12.7%

Cognizant Technology Solutions Corporation (CTSH) - Canvas Business Model: Value Propositions

You're looking at how Cognizant Technology Solutions Corporation delivers distinct value to its clients as of late 2025. It's not just about throwing bodies at problems anymore; it's about engineering outcomes using AI-driven efficiency and deep industry knowledge. This shift is showing up clearly in their financials, like the raised full-year 2025 revenue guidance to between $21.05 billion and $21.10 billion.

Accelerating clients' digital core modernization and legacy system retirement.

Cognizant is positioning itself as the partner to tackle that massive, expensive technical debt. They are recognized as a Global Leader in Constellation's 2025 ShortListTM Report for key areas like Core Modernization and Digital Transformation Services (DTX). This focus is translating into solid vertical performance; for instance, their Health Sciences segment grew 11.4% year-over-year in constant currency in Q1 2025. The value here is moving clients off brittle, old systems and onto platforms that can actually support modern demands, like AI integration.

Industry-specific solutions that combine technology, domain, and operations expertise.

The firm isn't just selling generic IT; they are selling tailored expertise. You see this in the segment growth figures, which show broad health across their main areas. In Q3 2025, the Financial Services segment grew 6.2% year-over-year, and the Products & Resources segment led growth at 12.6% year-over-year. They are embedding domain knowledge directly into the delivery model. This is why they can secure large, multi-year contracts that require deep operational understanding, not just coding chops.

AI-led productivity gains, with up to 30% of code now written by AI.

This is the big lever for near-term margin expansion and client value. Cognizant is aggressively pushing AI into the development lifecycle. The CEO stated that AI is creating 30% of code as part of the 2025 outlook. Honestly, the productivity metrics are compelling: AI-assisted coding boosted the productivity of the bottom quartile of developers by 34%, versus 17% for the top 50%. They are scaling this fast, with approximately 1,400 early-stage Generative AI engagements underway. Here's the quick math on their internal commitment: they have trained 400,000 people in AI skills, aiming for 1 million by 2026.

The tangible results of this AI focus are visible in their operational efficiency:

• Revenue per employee increased +8% year-over-year in Q3 2025.
• Operating income per employee increased +10% in Q3 2025.
• Adjusted Operating Margin for the full year 2025 is guided to approximately 15.7%.

What this estimate hides is the longer-term shift in pricing; the CFO predicts they will differentiate pricing for human versus virtual AI agents within three to five years.

Risk reduction and operational resilience through managed services and BPO.

While the headlines focus on AI, the bedrock of stability comes from their managed services and business process outsourcing (BPO) capabilities. These services provide the steady, recurring revenue that underpins their financial guidance. You can see this resilience in their Q3 2025 results, where they achieved their fifth consecutive quarter of year-over-year organic revenue growth. They are also committed to returning capital, with $1.5 billion returned to shareholders through Q3 2025, on track for a full-year return of $2 billion.

Partnering for multi-year, large-deal transformation projects.

Securing massive, multi-year transformation deals is key to long-term revenue visibility. Cognizant is definitely maintaining momentum here. Year-to-date in 2025 (through Q3), they signed 16 large deals, resulting in 40% growth in large deal Total Contract Value (TCV) compared to the same period last year. They signed six large deals in Q3 alone. These aren't small projects; Q2 2025 included two mega deals each valued at over $1 billion.

Here's a snapshot of the financial scale supporting these value propositions as of late 2025:

Metric	Value (Late 2025 Data)
Q3 2025 Revenue	$5.42 billion
Full-Year 2025 Revenue Guidance (Midpoint)	~$21.075 billion
Trailing 12-Month Bookings (as of Q3 2025)	$27.5 billion
Full-Year 2025 Adjusted EPS Guidance Range	$5.22 to $5.26
Total Headcount (as of Sept 30, 2025)	349,800
Tech Services Voluntary Attrition (TTM, Sept 30, 2025)	14.5%

Finance: draft the 13-week cash view incorporating the latest dividend declaration by Friday.

Cognizant Technology Solutions Corporation (CTSH) - Canvas Business Model: Customer Relationships

Dedicated account management for large enterprise clients (Fortune 1000) is central, evidenced by significant large deal momentum. Cognizant Technology Solutions Corporation secured six large deals in Q3 2025, which are defined as having a Total Contract Value (TCV) of $100 million or greater. This deal activity contributed to a year-to-date large deal TCV growth of 40% compared to the prior year period.

Co-innovation and joint development through AI labs and studios is driving new business. As of the first quarter of 2025, Cognizant Technology Solutions Corporation reported approximately 1,400 early-stage Generative AI engagements, an increase from 1,200 in the prior quarter. Furthermore, the company has developed over 20 agentic solutions using Google LLM models, specifically targeting healthcare challenges.

The high-touch, consultative selling model focused on long-term strategic partnerships is reflected in the size of recent wins. In Q2 2025, bookings grew 18% year-over-year, which included two mega deals, each valued at over $1 billion in TCV. One such transformation deal in the health sciences space was reportedly worth close to $1 billion. The full-year 2025 revenue guidance stands between $21.05 billion and $21.10 billion.

Outcome-based contracts tied to client business metrics are implied by the focus on AI-led productivity. The company's Q1 2025 revenue was $5.1 billion, with CEO Ravi Kumar S noting that AI and platform capabilities help clients navigate uncertainty while pursuing longer-term AI-led transformation. The Q3 2025 revenue reached $5.42 billion.

Proactive thought leadership and research underpins the value proposition for future-proofing client workforces. Cognizant Technology Solutions Corporation expanded its Synapse skilling initiative, setting a new goal to upskill a total of two million individuals by the end of 2030, having already surpassed the initial target of one million by the end of 2026. A related study suggests 90 percent of jobs will see AI disruption in the next decade.

Here's a snapshot of recent large deal and AI engagement metrics:

Metric	Value/Amount	Period/Context
Total Early-Stage GenAI Engagements	1,400	End of Q1 2025
Agentic Solutions Developed (using Google LLMs)	20+	Q1 2025
Large Deals Signed (YTD)	16	Q3 2025
Q2 2025 Mega Deals (TCV > $1 Billion each)	2	Q2 2025
Quarterly Dividend	$0.31 per share	Q3 2025

The relationship strategy emphasizes deep technology adoption and workforce readiness:

• AI-written code increased to more than 20% for internal developer productivity.
• Cognizant Technology Solutions Corporation's total headcount was 349,800 as of September 30, 2025.
• Trailing 12-month bookings reached $27.5 billion as of Q3 2025.
• The company plans to return $2.0 billion to shareholders in 2025.

Cognizant Technology Solutions Corporation (CTSH) - Canvas Business Model: Channels

You're looking at how Cognizant Technology Solutions Corporation gets its services to the client base, which is a mix of direct engagement and broad ecosystem reach. Here's the breakdown of the numbers driving those channels as of late 2025.

The scale of the operation supports the direct sales push toward Chief Information Officers (CIOs) and Chief Digital Officers (CDOs). Cognizant Technology Solutions Corporation's total headcount as of September 30, 2025, stood at 349,800 employees globally. The company's full-year 2025 revenue guidance is set between $21.05 billion and $21.10 billion.

The global partner ecosystem is a major channel for co-selling and joint delivery, especially around hyperscalers. Cognizant Technology Solutions Corporation was recognized as a Leader in the ISG Provider Lens™ Google Cloud Partner Ecosystem 2025 Study across four quadrants, including Google Cloud GenAI and AI Services, where 35 companies were evaluated.

Partner Metric	Data Point	Context/Source Year
Total Partners (Partnerbase)	371	Late 2025 Data
Partner Team Size (Employees)	51 - 100	Late 2025 Data
Azure Experts/Engineers Added (via 3Cloud acquisition)	1,000+	November 2025 Announcement
Microsoft Certifications Added (via 3Cloud acquisition)	1,500+	November 2025 Announcement
CTSH Azure-Certified Associates (Global, pre-acquisition)	Nearly 20,000	November 2025 Announcement

Digital marketing and thought leadership content is used for lead generation, evidenced by Cognizant Technology Solutions Corporation being featured in the HFS Research report, 'Digital Marketing and Sales Services Capabilities, 2025'. This channel is critical as AI agents are projected to drive up to 55% of all purchasing activity by 2030, according to Cognizant's own study.

Strategic acquisitions are a fast channel for capability and client access. The November 2025 agreement to acquire 3Cloud brings in a company that delivered 20% organic compound annual growth since 2020 and expected 20%+ growth in 2025. 3Cloud itself has nearly 1,200 employees, with approximately 700 based in the United States.

The global delivery footprint is the engine for service execution. You can see the scale in the physical space and employee distribution.

• Total Delivery Centers' Space: 22M sq. ft. (FY 2024)
• Total Headcount (as of Q3 2025): 349,800
• Delivery Centers in Europe established since 2008: Over 20
• Number of clients served by Delivery Centers globally: Over 100
• Employees in India (as of Dec 2023): About 254,000 across 13 cities

The third quarter 2025 revenue was $5.42 billion, with trailing 12-month bookings reaching $27.5 billion. Finance: review the integration cost model for the 3Cloud acquisition against the Q4 2025 revenue forecast of $5.27 - $5.33 billion by next Tuesday.

Cognizant Technology Solutions Corporation (CTSH) - Canvas Business Model: Customer Segments

Cognizant Technology Solutions Corporation serves large enterprises that are actively pursuing multi-year digital and Artificial Intelligence (AI) transformation initiatives. The company reported trailing 12-month bookings of $27.8 billion as of June 30, 2025, with Q2 2025 bookings increasing 18% year-over-year, including two mega deals with Total Contract Value (TCV) over $1 billion each. By the end of Q3 2025, Cognizant Technology Solutions Corporation had signed 16 large deals year-to-date, representing 40% growth in large deal TCV compared to the same period last year.

The customer base is segmented across several key industries, with Health Sciences and Financial Services showing the strongest recent momentum through Q1 2025.

Segment	Q1 2025 Revenue (Millions USD)	Q1 2025 YoY Growth (CC)	Q3 2025 Revenue (Millions USD)	Q3 2025 YoY Growth (CC)
Health Sciences	$1,571	Over 11%	$1,514	7.6%
Financial Services	$1,462	6.5%	$1,486	0.5%
Products and Resources	$1,278	12.8%	$1,228	4.6%
Communications, Media & Technology	$804	-2.7%	$816	-4.1%

You can see the segment performance shifts; for instance, while Products and Resources showed 12.8% growth in Q1 2025, its growth moderated to 4.6% in Q3 2025.

The primary customer segments Cognizant Technology Solutions Corporation targets include:

• Health Sciences: Life Sciences and Healthcare payer/provider organizations, which was the fastest-growing segment at over 11% year-over-year in constant currency in Q1 2025. This segment generated $1.571 billion in revenue in Q1 2025, representing 30.7% of total revenue.
• Financial Services: Banking, Capital Markets, and Insurance clients. This segment grew 6.5% year-over-year in constant currency in Q1 2025, marking its third straight quarter of improvement. Q1 2025 revenue was $1.462 billion, or 28.6% of the total.
• Products and Resources: Manufacturing, Retail, Consumer Goods, and Utilities clients. This segment saw a 12.8% revenue increase in Q1 2025, partly due to the Belcan acquisition contributing approximately 1,500 basis points of growth. Q1 2025 revenue was $1.278 billion.
• Communications, Media, and Technology: Telecom and high-tech companies. This segment was the only one to decline in Q1 2025, falling by 2.7% year-over-year. Q1 2025 revenue was $804 million.

Overall, Cognizant Technology Solutions Corporation's Q1 2025 revenue reached $5.115 billion, representing 8.2% growth in constant currency. The full-year 2025 revenue guidance was increased to a range of 6.0% to 6.3% growth in constant currency, with an expected total revenue between $21.05 billion and $21.10 billion.

Cognizant Technology Solutions Corporation (CTSH) - Canvas Business Model: Cost Structure

You're analyzing Cognizant Technology Solutions Corporation's cost base as of late 2025. For a services firm like Cognizant Technology Solutions Corporation, the cost structure is heavily weighted toward human capital and operational efficiency programs.

Employee Compensation: Largest cost component due to the 350,000 global workforce.

Salaries, incentive-based compensation, and employee benefits form the bulk of Cognizant Technology Solutions Corporation's expenses, as is typical for a global IT services provider. As of September 30, 2025, the total headcount stood at 349,800 employees. To maintain cost competitiveness, approximately 70% of this global workforce is based in India. This massive workforce size makes compensation the single largest cost driver, even with ongoing optimization efforts.

The components of Selling, General, and Administrative (SG&A) expenses, which include compensation, show the scale of these costs:

Metric	Value (as of late 2025)
SG&A Expenses (TTM ending Sep 30, 2025)	$3.278B
Total Headcount (as of Sep 30, 2025)	349,800
Q1 2025 SG&A as % of Revenue	15.5% (down from 16.1% prior)

Sales, General, and Administrative (SG&A) expenses for global operations and sales.

SG&A expenses consist of compensation, immigration, travel, marketing, management, finance, and occupancy costs. The company has actively managed this line item, for example, seeing SG&A expenses as a percentage of revenues decrease from 16.1% to 15.5% in the first quarter of 2025. This leverage was attributed to net savings generated from the NextGen program.

Technology and infrastructure investments, particularly in cloud and AI R&D.

While direct reported Research and Development (R&D) expenses were reported as $0M for the twelve months ending September 30, 2025, by one source, the strategic focus on technology investment is clear through other operational metrics and commentary. Cognizant Technology Solutions Corporation is actively funding investments for growth, particularly in AI-led platforms and infrastructure. The company is focused on improving gross margin over the medium term through AI-led efficiencies and automation. Furthermore, recent legislative changes impacted tax treatment related to R&D capitalization, with a one-time, non-cash tax expense of approximately $400 million anticipated in the third quarter of 2025.

Real estate and facilities costs for the global delivery center footprint.

Facilities costs are managed through optimization programs like NextGen, which includes workforce and real estate optimization. A concrete example of real estate cost management was the sale of its India headquarters in Chennai in March 2025 for ₹612 crore. This transaction resulted in a reported gain on the sale of an office complex in India of $62 million, which positively impacted income from operations in the first quarter of 2025.

The focus on cost discipline is evident in the margin performance:

• Full-year 2025 Adjusted Operating Margin guidance is approximately 15.7%.
• Q3 2025 Adjusted Operating Margin reached 16.0%.
• Q2 2025 Adjusted Operating Margin was 15.6%.
• Q1 2025 Adjusted Operating Margin was 15.5%.

Disciplined cost management to maintain an Adjusted Operating Margin of approximately 15.7% for 2025.

The commitment to cost discipline is a primary lever for profitability. The full-year 2025 guidance for the Adjusted Operating Margin is set at approximately 15.7%, representing 40 basis points of expansion year-over-year. This margin expansion is expected to be driven primarily by cost discipline and SG&A operating leverage, which helps offset the negative impact of the 2024 merit cycle on compensation costs and the dilutive impact of acquisitions like Belcan.

Cognizant Technology Solutions Corporation (CTSH) - Canvas Business Model: Revenue Streams

You're looking at how Cognizant Technology Solutions Corporation actually brings in the money, which is key to understanding its valuation, so let's break down the revenue streams as of late 2025.

The primary way Cognizant Technology Solutions Corporation generates income is through fees for its core professional services, which are structured around the delivery of technology and business transformation work. These fees are typically realized through two main contracting models: time-and-materials or fixed-price contracts, depending on the scope and client agreement.

The revenue streams are heavily weighted toward its technology and outsourcing services, which you can see clearly in the trailing twelve months (TTM) figures ending September 30, 2025:

Revenue Stream Category	Revenue (TTM ending Sep 30, 2025)
Consulting and Technology Fees	$13.35B
Outsourcing Services Fees	$7.51B

The Consulting and Technology revenue, which encompasses much of the work related to Application, Cloud, Data, and AI services, represents the larger portion of the top line. The Outsourcing Services component often includes the more recurring, potentially subscription-based Business Process Services (BPS) you mentioned, providing a stable base.

Looking ahead, Cognizant Technology Solutions Corporation has a strong revenue outlook based on recent performance. Full-year 2025 revenue is projected to be between $21.05 billion and $21.10 billion. This projection reflects a solid year-over-year growth rate, especially given the focus on AI-led transformation deals.

A significant driver for this revenue is the success in landing major, long-term commitments. Cognizant Technology Solutions Corporation has shown strong momentum in securing large, multi-year deals. For instance, in the second quarter of 2025, the company reported booking two mega deals, each with a Total Contract Value (TCV) of over $1 billion. Year-to-date through the third quarter of 2025, the company signed a total of 16 large deals (TCV $\ge$ $100 million), marking a 40% growth in large deal TCV year-to-date compared to the same period last year.

The revenue derived from these major contracts is critical for future stability. Here's a look at the composition of the revenue based on the latest reported segment data from Q3 2025:

• Health Sciences and Financial Services together accounted for approximately 58.8% of the total Q3 2025 revenue, showing a reliance on these two large, defensive sectors.
• The Products and Resources segment was the fastest-growing, posting a 12.6% year-over-year revenue increase in Q3 2025.
• The Communications, Media and Technology segment represented 15.7% of the Q3 2025 revenue, bringing in $850 million for that quarter.

The Consulting and Advisory Services fees are embedded within the Consulting and Technology revenue line, often tied to digital transformation roadmaps and AI strategy engagements. Finance: draft 13-week cash view by Friday.