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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 is now assisting approximately 10.4 million recipients with state benefits through the Pandemic Electronic Benefit Transfer (P-EBT) program, a figure that has more than doubled from the previous year. Additionally, 12 million recipients are supported under the Supplemental Nutrition Assistance Program (SNAP), marking an 18% increase since the pandemic began. Conduent provides over 40% of the nation’s SNAP payments for 25 state agencies, showcasing the company's critical role in addressing food assistance needs amidst ongoing economic challenges.
Conduent has secured a contract valued at approximately $51 million from the Virginia Department of Transportation to design, implement, and operate express tolling lanes on Interstate 64 in Hampton Roads. This contract involves a 16-month implementation period, focusing on dynamic pricing and vehicle occupancy detection to enhance traffic flow and reduce congestion. Conduent will maintain multiple tolling zones once operational, expected to be completed by the end of 2022.
Conduent has renewed its partnership with the New Hampshire Department of Health and Human Services to modernize the state’s Medicaid Management Information System (MMIS). The contract, valued at approximately $206 million, includes a five-year base term with an option to extend until 2031. Conduent will enhance the MMIS by improving security, processing speed, and operational efficiency, serving around 220,000 beneficiaries and processing over 15 million claims annually. This partnership underscores Conduent’s expertise in government healthcare solutions.
Conduent (Nasdaq: CNDT) published its 2020 Corporate Social Responsibility (CSR) report, showcasing its commitment to ethical and sustainable business practices. Key highlights include a 50% reduction in real estate footprint, a 23% decrease in Scope 2 CO2 emissions, and the recycling of over 53 million pounds of materials. The report emphasizes advancements in diversity and inclusion, enhanced associate wellness benefits, and a strengthened ethics program. Conduent's ESG initiatives align with five United Nations Sustainable Development Goals, focusing on community support and sustainability.
Conduent has secured a contract with the Kansas Department for Children and Families to modernize its child support case management system for approximately 131,000 children and their parents. The project will transition from a legacy mainframe to a web-based application on the Azure Cloud platform. The 19-month implementation will be followed by a year of maintenance support. This initiative aims to reduce long-term costs and improve service continuity.
Conduent has partnered with Eastpointe Human Services to implement its HSP Core Claims Administration solution, enhancing Eastpointe's ability to transition to value-based care for North Carolina’s Medicaid members. This agreement will allow for improved automation in claims processing, aiming to reduce operational costs and improve service delivery for a diverse rural population across 10 counties. With more than 50 years of experience, Conduent is expected to bolster operational efficiency as Eastpointe prepares for the state's Medicaid transformation set for July 2022.
Conduent (NASDAQ: CNDT) reported a 1.0% revenue increase to $1,026M for Q2 2021, marking their first quarter of revenue growth since becoming Conduent. Adjusted EBITDA grew 16.4% to $128M, with a margin of 12.5%. New business signings reached $775M, up 24% YoY, driven by Government Payments and Transportation segments. GAAP net income rose to $12M from a loss of $51M the previous year. The company updated its FY 2021 revenue guidance to $4,100M - $4,175M, reflecting ongoing business momentum.
Conduent Transportation has successfully implemented a contactless payment system for the transportation network in Bergamo, Italy, allowing passengers to purchase tickets on buses and funicular railways directly. This system, featuring nearly 600 validators, supports major credit cards and digital wallets like Google Pay and Apple Pay. The initiative aims to enhance user experience and facilitate compliance with COVID-19 regulations. Conduent's technology significantly improves transportation services, marking a step forward in the European transit landscape.
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