Cognizant and LexisNexis Legal & Professional Extend Collaboration

Rhea-AI Summary

Cognizant (CTSH) extends its strategic agreement with LexisNexis to provide cloud and digital engineering services, enhancing customer experience on LexisNexis' next-gen legal research solution in the U.S. and Canada. The partnership aims to accelerate feature releases, streamline operational efficiency, and improve search capabilities for LexisNexis customers.

Insights

Technology Analyst

The extension of the strategic agreement between Cognizant and LexisNexis for cloud and digital engineering services is a positive signal for stakeholders in the technology services sector. This partnership leverages Cognizant's expertise in modernizing legacy systems and incorporating cloud-native solutions, which is essential for LexisNexis to remain competitive in the legal information services market. The focus on serverless capabilities and microservices architecture indicates a shift towards more scalable and efficient computing resources, which can lead to cost savings and improved performance. Additionally, the emphasis on AI-powered solutions and advanced algorithms for content management showcases an investment in innovation that can enhance the user experience and provide a competitive edge.

From a financial perspective, multi-year agreements like this provide stable and predictable revenue streams for service providers like Cognizant. For LexisNexis, investing in technology to improve operational efficiency could translate into higher customer satisfaction and retention, ultimately impacting the company's bottom line positively. The partnership also reflects a broader industry trend where companies increasingly rely on specialized technology service providers to navigate digital transformation.

Market Research Analyst

From a market perspective, the collaboration between Cognizant and LexisNexis is indicative of the growing demand for cloud and digital engineering services within the legal sector. By enhancing LexisNexis' next-gen legal research solution, the companies are addressing the evolving needs of legal professionals who require fast, reliable and intuitive access to vast amounts of legal data. The legal industry is traditionally seen as slow to adopt new technologies; however, this partnership suggests a shift towards embracing digital transformation to meet customer expectations.

For investors, the deal signals Cognizant's continued ability to secure significant contracts in competitive markets, which is a positive indicator of the company's market positioning and the perceived value of its services. The focus on automation, cost optimization and improving customer experience aligns with broader market trends where efficiency and user-centric design are becoming key differentiators. This could potentially influence investor sentiment and stock performance in the short to medium term, as such strategic partnerships often lead to enhanced market credibility and can drive business growth.

Legal Technology Expert

The partnership's implications for the legal technology landscape are substantial. By advancing LexisNexis' capabilities in search and content management through cloud and AI technologies, the legal research process can become more efficient, allowing legal professionals to work more effectively. This is significant in a field where time is often billed by the hour and efficiency gains can lead to cost savings for end clients. The use of serverless computing and microservices suggests a move towards a more modular and flexible legal research platform that can quickly adapt to changing market demands and regulatory environments.

Furthermore, the development of AI-powered natural language processing solutions can revolutionize how legal information is accessed and analyzed, potentially reducing the time spent on research and increasing the accuracy of legal insights. This not only benefits lawyers and their clients but also has the potential to democratize access to legal information, making it more accessible to non-professionals. The long-term impact on the legal sector could be transformative, as it could change the way legal services are delivered and consumed.

Cognizant will provide cloud and digital engineering services to enhance customer experience on LexisNexis' next-gen legal research solution in the U.S. and Canada

TEANECK, N.J., March 28, 2024 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) has announced today a multi-year extension of its strategic agreement with LexisNexis^® Legal & Professional, a leading global provider of information and analytics. Through this renewed agreement, Cognizant will continue providing cloud and digital engineering services, helping accelerate feature releases and streamline operational efficiency through automation and cost optimization of LexisNexis' next-gen legal research solution, Lexis+^®. LexisNexis extended its relationship with Cognizant due to the company's proven track record as a long-trusted provider.

Together, the companies will enhance the solution's search capabilities, helping LexisNexis' customers to navigate legal content intuitively and aim to augment the overall customer experience.

"At LexisNexis, customer-driven innovation is core to our technological and product development," said Philippe Poignant, CTO LNNA, UK and CEMEA LexisNexis Legal & Professional. "By extending our more than a decade-long agreement with Cognizant, we can continue delivering transformative technology that will improve our customers' work and increase operational efficiencies."

Over the course of the agreement, Cognizant and LexisNexis will focus on:

• Modernizing legacy desktop and web applications: Cognizant will collaborate with LexisNexis to implement cloud-native solutions such as serverless capabilities, containers using microservices, and micro front-end architecture. 
• Re-architecting data and redesigning the content fabrication pipeline: Cognizant will contribute to the delivery of an event-driven and messaging-based architecture, along with revamping the content fabrication pipeline and developing advanced algorithms to categorize, separate, and rank content to enhance Lexis+^® content management capabilities.
• Providing innovative solutions in quality engineering: Cognizant will use Defect Triage BOT and dynamic test script generation and maintenance to further bolster LexisNexis' product engineering capabilities, leveraging advanced AI-powered natural language processing solutions benefitting customers.

"We value our longstanding collaboration with LexisNexis and are excited about our continued efforts to enhance the company's exceptional customer experience on complex information platforms," said Anurag Sinha, SVP and Head of Communications and Media, Americas, of Cognizant. "Cognizant has committed to investing approximately $1 billion over the next three years to bolster our generative AI (gen AI) capabilities and will leverage our trifecta of digital engineering, cloud engineering, and gen AI solutions to deliver advanced AI-powered natural language processing solutions to LexisNexis. Additionally, we will aim to create new capabilities around legal research, predictive analysis, semantic search, compliance monitoring, and continuous learning."

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.

Katrina Cheung

Katrina.Cheung@cognizant.com

 

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SOURCE Cognizant Technology Solutions Corporation

FAQ

What services will Cognizant provide to LexisNexis as part of the agreement?

Cognizant will provide cloud and digital engineering services to enhance customer experience on LexisNexis' next-gen legal research solution in the U.S. and Canada.

Why did LexisNexis extend its relationship with Cognizant?

LexisNexis extended its relationship with Cognizant due to the company's proven track record as a long-trusted provider.

What will Cognizant focus on during the agreement with LexisNexis?

Cognizant and LexisNexis will focus on modernizing legacy desktop and web applications, re-architecting data and content fabrication pipeline, and providing innovative solutions in quality engineering.

How will Cognizant enhance LexisNexis' content management capabilities?

Cognizant will develop advanced algorithms to categorize, separate, and rank content to enhance LexisNexis' content management capabilities.

What advanced solutions will Cognizant leverage to benefit LexisNexis customers?

Cognizant will use Defect Triage BOT and dynamic test script generation and maintenance, leveraging advanced AI-powered natural language processing solutions to benefit LexisNexis customers.