Volvo Cars selects Cognizant for finance & accounting and procurement business process services
Cognizant (NASDAQ:CTSH) has renewed its contract agreement with Volvo Cars that covers the car maker's global accounts payable and accounts receivable, direct and indirect procurement and logistics services.
This new three-year agreement will enable Volvo Cars to harmonize its F&A and procurement processes and implement Intelligent Process Automation (IPA) and will also be able to reduce the cost of delivery of business process services and improve overall business outcomes.

"The automotive industry has been undergoing continuous evolution as business models change and the shift to electric cars has become key to car makers' goals of climate neutrality. We are proud to support Volvo Cars in its rapid growth across numerous markets," said Anne-Sofie RisÃ¥sen, Head of Nordics, Cognizant. "We now look forward to strengthening the already established global standard F&A and procurement processes as we increase our footholds in direct and indirect procurement."