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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 reported its first quarter 2024 financial results with revenue of $921 million and pre-tax income of $127 million. The company highlighted progress in its portfolio performance, new business signings, and various segments. Despite exceeding revenue expectations, sales performance lagged due to timing issues. Conduent announced the closure of the sale of its Curbside Management and Public Safety businesses and expects to finalize the BenefitWallet transaction in May. The company is focused on portfolio rationalization to drive future growth. With strong client partnerships and a dedicated workforce, Conduent anticipates continued progress on its growth turnaround journey.
Conduent Incorporated (Nasdaq: CNDT) has completed the sale of its Curbside Management Solutions and Public Safety Solutions businesses to Modaxo for $230 million. The sale is part of Conduent's strategy to focus on core capabilities and drive growth. The company aims to streamline its portfolio and enhance shareholder and client value while continuing to innovate in Road Usage Charging Solutions and Transit Solutions.
Conduent Incorporated collaborates with Microsoft on an innovation initiative to implement generative AI in healthcare claims management, customer service platforms, and fraud detection. The partnership aims to enhance client operating performance and optimize business processes. Through this collaboration, Conduent and Microsoft will explore various use cases across different industries to improve efficiencies and customer experiences. The initiative includes pilots focusing on intelligent data harvesting, fraud detection processing, and customer service agent responsiveness. Conduent's expertise in robotic process automation positions them to guide clients in leveraging generative AI technology.
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