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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 Incorporated (Nasdaq: CNDT) will announce its second-quarter financial results on August 5, 2021, after market close. A conference call will follow at 5:00 p.m. ET, accessible via webcast and phone. Conduent provides essential services for businesses and governments, enhancing workflow efficiency. Key outcomes include $16 billion savings from medical bill reviews and improved efficiency in HR, finance, and government benefits, benefiting millions of users, including patients and employees.
Conduent Incorporated (Nasdaq: CNDT) announced the launch of its Digital Mailroom, developed to streamline corporate mail management as remote work becomes standard. This solution enables companies to digitize, automate, and efficiently distribute critical documents, such as legal and HR paperwork. By converting physical mail to digital content, organizations benefit from reduced costs, improved access to data, and enhanced business continuity. The Digital Mailroom addresses significant challenges faced by traditional mailrooms during the pandemic, supporting companies aiming for long-term hybrid work strategies.
Conduent (Nasdaq: CNDT) has launched a redesigned Life@Work® mobile app, enhancing access to health and wealth benefits for employees. The new app features eligibility-driven digital wallet cards, allows users to view benefits at-a-glance, and enables secure storage of benefit ID cards. The platform integrates tools and resources into a user-friendly interface, reflecting the ongoing digital transformation in the benefits sector. This initiative aims to provide employees with immediate access to vital information, improving engagement and user experience.
In June 2021, Conduent (Nasdaq: CNDT) reported significant traffic growth on major toll roads, with May traffic increasing by 82% year-over-year, April by 127.8%, and March by 25.9%. Compared to 2019, May and April showed over 15% growth, and March increased by 11.6%. This rebound reflects the broader U.S. economic recovery post-COVID-19 restrictions. Conduent operates six of the ten largest U.S. toll systems and is a leader in automated tolling solutions, supporting state revenue for infrastructure projects.
Conduent, traded under Nasdaq symbol CNDT, was recognized as a GM Supplier of the Year in General Motors' 29th annual awards. This honor was bestowed upon 122 suppliers from 16 countries for their exceptional performance in 2020. Conduent's teams in Payroll, Legal Compliance, and Finance excelled in meeting GM's requirements despite challenges. The award underscores Conduent's commitment to delivering cost savings and exceeding performance expectations for clients. The company serves major clients, including Fortune 100 companies and over 500 government entities.
Conduent has announced that its CIO, Mark Prout, will receive the 2021 American Business Awards® Gold Stevie® Award for leadership during the COVID-19 pandemic. The company enabled 75% of its 65,000 global associates to work from home in under six weeks, supporting clients and ensuring critical benefits like unemployment aid were delivered during the crisis.
This recognition showcases Conduent's adaptability and the commitment of its technology and business teams, contributing to significant client outcomes amid challenging circumstances.
Conduent Incorporated (Nasdaq: CNDT) has introduced the 2021 Food Insecurity Index on its Healthy Communities Institute platform, enhancing local government capabilities to address food insecurity.
This index aggregates various socio-economic indicators to pinpoint high-need areas, aiding over 530 counties in improving access to food assistance.
Currently, over 50 million Americans face potential food insecurity, which has been highlighted by a recent 15% increase in SNAP benefits, demonstrating the need for such targeted analytics.
Conduent Incorporated (Nasdaq: CNDT) has secured a contract with the New Hampshire Department of Health and Human Services to enhance Medicaid beneficiaries' access to their health information. This initiative will facilitate better healthcare decisions by allowing secure information exchange among payers, providers, and patients.
Additionally, the contract ensures compliance with the Interoperability and Patient Access Final Rule, aimed at improving healthcare data availability. This marks an expansion of Conduent's services in New Hampshire, where it has been a provider since 2013.
Conduent (Nasdaq: CNDT) has been recognized as a Top 15 Service & Technology Provider Standout by Information Services Group (ISG) for its annual contract value (ACV) growth over the past year. This inclusion in the ISG Index™ reflects Conduent's strong performance in the global technology and business services market. ISG's ranking is based on contract wins, case studies, and positive client feedback. CEO Cliff Skelton emphasized the company's commitment to delivering value through its advanced capabilities and service delivery.
Conduent (Nasdaq: CNDT) announced plans to replace its existing term loans maturing in 2022 and 2023 with a new $1.5 billion term loan due in 2028 and Senior Secured Notes due in 2029. Additionally, the company will establish a new revolving facility of $550 million. The financing is subject to change and will be offered privately to qualified institutional buyers. This restructuring aims to enhance Conduent's financial flexibility, enabling it to continue delivering critical services for businesses and government entities effectively.
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