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Conduent Incorporated (NASDAQ: CNDT) is the world's largest provider of diversified business process services. The company excels in transaction processing, automation, analytics, and constituent experience. Conduent collaborates with both government and commercial customers to enhance the delivery of services to their respective client bases. It plays a pivotal role in the U.S. healthcare industry by managing interactions with patients and the insured. Additionally, it serves as the customer interface for large segments of the technology industry and is a key operational and processing partner for public transportation systems globally.
Conduent offers a broad range of services including digital payments, claims processing, benefit administration, automated tolling, customer care, and distributed learning. These services are designed to create value for both clients and their constituents by modernizing and managing interactions effectively. Customers include Fortune 100 companies and more than 600 government and transportation agencies.
The company operates through three key segments: Commercial Industries, Government Services, and Transportation, with the majority of its revenue generated in the United States. Conduent's significant recent achievement includes successfully migrating its on-premises Oracle Exadata environment to the cloud using Oracle Database@Azure. This migration has significantly improved application performance and enabled real-time transaction processing, enhancing the services provided to its clients.
To stay updated on the latest developments, visit www.conduent.com.
Conduent (CNDT) is showcasing its loan servicing solutions at LendIt Fintech in New York City on May 25-26, 2022. The company manages over $120 billion in assets, supporting 14 million consumer loans and leases. Conduent's Loan Manager platform offers enhanced account servicing and collections recovery, aiming to improve customer experience and reduce operational costs by up to 25%. The platform facilitates real-time data access and integrates with service providers via an extensive API library, addressing challenges in the financial services sector.
Conduent (Nasdaq: CNDT) has been selected as a qualified provider by NASPO ValuePoint to deliver Third-Party Liability (TPL) Services to state health agencies. This selection allows Conduent to compete for contracts across multiple states, enhancing its portfolio of services supporting Medicaid programs. Conduent's modular technology is designed to improve efficiency in soliciting payments from third-party resources. The state of Georgia led this procurement, with additional states including Louisiana, Missouri, Montana, and Rhode Island participating. Conduent's experience includes supporting Medicaid systems in 23 states and facilitating federal MMIS certifications in 14 states.
Conduent Incorporated (Nasdaq: CNDT) highlights the increasing demand for efficiency within legal departments, driven by challenges such as remote work. Key areas of focus include strengthening resiliency and implementing tech solutions that integrate with other business functions. Conduent will showcase its advanced legal spend and contract analytics tools at the CLOC Global Institute from May 9-12. These tools help organizations optimize resources, ensure compliance, and enhance overall productivity in legal operations.
Conduent (Nasdaq: CNDT) has been recognized as a Leader in the Everest Group Healthcare Payer Operations PEAK Matrix® Assessment 2022. This distinction highlights Conduent's market impact, value delivery, and innovative service offerings such as claims management and enrollment. The recognition follows a recovery in the payer business process services market post-COVID-19, with increasing demand for integrated solutions. Conduent aims to enhance client efficiency and adaptability through its strategic investments in key healthcare areas.
Conduent (NASDAQ: CNDT) reported Q1 2022 revenue of $967M, down 5.9% year-over-year, while adjusted revenue was $960M, a decline of 5.0%. Net income surged 1336.4% to $136M, primarily due to gains on the Midas divestiture. The adjusted EBITDA margin improved to 11.1% from 10.4%. New business signings saw a significant boost, with a 32% increase in total contract value to $464M. The company anticipates FY 2022 adjusted revenue between $3.825B and $3.975B, reflecting ongoing strategic adjustments, including the planned separation of the Transportation business.
Conduent has secured a 10-year contract with Montgomery County, Maryland, to supply automated speed and red-light camera systems, enhancing traffic safety. This renewal extends a partnership that began in 2007, during which the county's program saw a 62% decrease in speeding at camera sites and a 39% reduction in serious crashes. The program currently operates 77 speed cameras and 50 red-light cameras, with plans to double these numbers. The total contract value is approximately $116 million, consisting of a 5-year base term and five 1-year options.
Conduent Incorporated (Nasdaq: CNDT) has introduced two enhancements to its Strataware® medical bill review platform aimed at increasing efficiency in the workers compensation sector. The new features, Strataware Relatedness and Strataware Rarity, utilize advanced algorithms and automation to identify unrelated medical charges, addressing the complexity brought on by COVID-19 and an aging workforce. A study of over 1 million bills revealed 33% contained unrelated charges, while 10% had rare diagnosis codes, leading to potential cost savings for clients.
Conduent (Nasdaq: CNDT) is set to announce its first-quarter 2022 financial results on May 3, 2022, following market close. A conference call and webcast will take place at 5:00 p.m. ET to discuss the results, accessible via dial-in or live audio cast. Conduent specializes in business process services and solutions, serving many Fortune 100 companies and over 500 government entities. Their services enhance efficiency and reduce costs, processing approximately $10 billion in annual toll transactions and achieving up to 40% efficiency increases in HR operations.
Conduent Transportation has successfully implemented an EMV contactless payment system across the STAR public transport network in Rennes Métropole, France, enabling 353,000 daily riders to use contactless cards, transit cards, and NFC-enabled devices for fare payments. This project includes over 1,500 validators across buses and the metro. Conduent's technology simplifies access for users, with the system being the largest of its kind in France. Conduent serves over 400 transit networks globally, enhancing transit experience and supporting smart city initiatives.
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