Clario Selects Cognizant as Global Strategic Technology Services Provider to Optimize and Advance their Clinical Transformation Journey
- Cognizant's collaboration with Clario will streamline workflows, enhance collaboration, and drive innovation in the clinical trials sector.
- The partnership aims to achieve faster time to market by leveraging automation and digital technologies for process modernization.
- Cognizant's expertise in data, analytics, and AI capabilities will help Clario build a foundation for a digital enterprise.
- Clario's focus on providing secure and reliable technology for managing patient data aligns with Cognizant's strengths in the life sciences sector.
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Insights
The partnership between Cognizant and Clario marks a significant development in the field of healthcare technology, particularly in the enhancement of clinical trials through digital transformation. As a Market Research Analyst, I see this collaboration as a strategic move for Cognizant to bolster its presence in the life sciences sector, a rapidly growing industry due to the increasing demand for innovative healthcare solutions.
By focusing on automation and digital technologies, Cognizant is positioning itself to meet the industry's need for efficiency and speed in drug development. This can potentially lead to a competitive advantage, as the ability to expedite time to market is highly valued. Investors should monitor the implementation success of this partnership, as it could result in increased market share and revenue growth for Cognizant.
From a Healthcare Technology Consultant's perspective, the integration of Cognizant's IT infrastructure support into Clario's operations is a critical step towards innovation in clinical trial management. The adoption of advanced analytics and AI can enhance the precision and speed of clinical outcomes. This is essential for Clario to maintain its competitive edge in the endpoint technology solutions market.
Moreover, the emphasis on creating a digital enterprise is not merely a technological upgrade but a transformative process that can lead to more informed decision-making in clinical research. The long-term benefits include potential improvements in patient outcomes and a more streamlined regulatory compliance process, which are key considerations for stakeholders in the healthcare sector.
As a Financial Analyst, the financial implications of the Cognizant-Clario deal are multifaceted. Cognizant's investment in automation and digital technologies aligns with broader industry trends towards cost-efficiency and improved service delivery. The expected outcome of reduced service costs and accelerated time to market could translate into higher profit margins and shareholder value.
However, such strategic partnerships also entail upfront investments and integration risks. Stakeholders should weigh the potential for increased operational efficiency against the costs incurred during the transition period. The success of this collaboration could serve as a bellwether for future tech-driven partnerships in the healthcare industry, influencing investor sentiment and stock performance.
Cognizant services will provide automation and digital technologies that can reduce cost of service and speed time to market
"At Clario, we pride ourselves on providing the best technology for our customers and we do that by creating a robust and innovative ecosystem," said Jay Ferro, EVP, Chief Information, Technology & Product Officer at Clario. "Cognizant's innovative technology and industry expertise made them the natural choice to partner on the next phase of our digital transformation journey."
Clario develops digital solutions that redefine possibilities in clinical trials by enhancing the accuracy, reliability, speed, and efficiency of data gathering and analysis. Over the course of the five-year relationship, Clario will leverage Cognizant's experience in automation and digital technologies for process and experience modernization, supporting:
- Achieving faster time to market by streamlining workflows and enhancing collaboration across teams.
- Building a foundation for a digital enterprise by integrating data, analytics, and AI capabilities across the company.
- Driving cutting edge innovation in the clinical trials space by adopting agile methodologies and best practices.
"Clinical trials require secure and reliable technology to manage patient data, monitor results, ensure regulations are met, and more." said Cognizant's Mohammad Haque, SVP, Global Large Deals Lead and BU Head, Life Sciences. "Clario is doing groundbreaking work in providing this technology to run clinical trials, and Cognizant is excited to work alongside them to modernize their offerings."
About Cognizant
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.
About Clario
Clario is a leading healthcare research and technology company that generates the highest quality clinical evidence for pharmaceutical, biotech, and medical device partners. They offer comprehensive evidence generation solutions that combine eCOA, cardiac safety, medical imaging, precision motion, and respiratory endpoints.
Clario's global team of science, technology, and operational experts have helped deliver over 26,000 trials and contributed to over 800 regulatory approvals in more than 100 countries. For more than 50 years, they have delivered deep scientific expertise and the most comprehensive endpoint technologies to help transform lives around the world.
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SOURCE Cognizant Technology Solutions Corporation
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