Cognizant is a global IT services company that helps large enterprises modernize technology and outsource operations. Cognizant's core offerings include application development, systems integration, application maintenance, cloud and infrastructure modernization, and business process outsourcing (BPO), delivered to large clients across healthcare, financial services, manufacturing, and other industries. Clients use Cognizant primarily to reduce the cost of legacy systems, build AI-driven workflows, and implement enterprise software from vendors like SAP, Salesforce, and Workday. Cognizant operates through four industry-based segments: Financial Services (~30% of revenue), Health Sciences (~27%), Products and Resources (~24%), and Communications, Media and Technology (~19%). A notable asset in Health Sciences is TriZetto, a proprietary platform that processes roughly two-thirds of U.S. healthcare claims. Cognizant uses a global delivery model, with client-facing teams on-site and large delivery centers in India housing the majority of its ~350,000 employees, keeping costs competitive. Revenue is driven by contract volume, pricing model mix, and employee productivity. Over 50% of revenue now comes from fixed-price or outcome-based contracts, up from ~41-42% a few years ago, allowing Cognizant to share AI-driven productivity gains with clients. Cognizant's growth strategy centers on deploying AI across software development, enterprise AI implementation, and automating entire business processes via AI agents, in many cases running those processes on behalf of clients as a BPO service.