Norway Post Awards Cognizant and Visma Multi-Year Finance and Accounting Business Process Outsourcing Contract

By Cognizant, PRNE
Sunday, July 10, 2011

OSLO, Norway, July 11, 2011 -

- Cognizant and Visma to help Norway Post
Enhance Business Effectiveness and Customer Experience

Cognizant (NASDAQ:
CTSH), a leading provider of information technology, consulting,
and business process outsourcing (BPO) services, and Visma, a
leading provider of business software and services for accounting
and administration, today announced that they have entered into an
outsourcing arrangement with Norway Post, the leading Norwegian
postal and logistics services company owned by the Norwegian
Ministry of Transport and Communications. Norway Post is engaged in
the development and delivery of integrated, value-adding
communications and logistics solutions to domestic and
international customers through physical and electronic

As part of the multi-year deal, Cognizant and Visma will
collaborate to deliver finance and accounting services to Norway
Post. The services delivered span the entire value chain of
transactional finance services, ranging from accounts payables and
receivables, to fixed assets, general ledger, and period-end
closing. Visma will combine its local Norwegian accounting and
regulatory expertise with Cognizant’s global delivery model,
transaction processing capabilities, and Oracle solution
accelerators to deliver significant process improvements, greater
operational efficiencies, increased automation, enhanced
productivity, and a high-quality customer experience.

This strategic program is a part of Norway Post’s continued
commitment to enhancing its business effectiveness in order to
provide superior postal and logistics services throughout Norway.
Cognizant and Visma will help Norway Post realize the
full promise of newer ways of delivering and innovating its finance
and accounting services.

“This is one of the largest Norwegian outsourcing contracts ever
awarded within finance and accounting outsourcing,” said Peter
, CEO of Visma Services. “A prerequisite to be competitive
on cost is to perform all transactional tasks in a global sourcing
model. An innovative delivery model has been developed in
cooperation with our partner Cognizant, a major global BPO and IT
services provider. Combined, the partners will be able to deliver
real business value that is cost effective to Norway Post in
finance and accounting outsourcing.”

“We are delighted to extend our finance and accounting footprint
into the Nordic region,” said Santosh Thomas, Senior Vice President
and Head of Continental European Operations for Cognizant. “In a
highly competitive environment, it is imperative to seamlessly
integrate technology and business processes to achieve new
thresholds of business effectiveness and operational efficiency.
Together, Visma and Cognizant bring deep industry, business
process, and regulatory insight. This, coupled with the high
service levels of the two organizations and a strong focus on
innovation, will help Norway Post further strengthen its leadership
position and readiness to meet future industry challenges. We are
committed to providing an integrated value proposition to Norway
Post, making this long-term relationship a success.”

About Norway Post

Norway Post is a Nordic mail and logistics group that develops
and delivers complete solutions within postal services,
communications and logistics, with the Nordic area as its local

Norway Post is a part of society’s infrastructure and the
company is the largest workplace in Norway according to the number
of employees. Norway Post’s task is to both provide good, uniform
postal services throughout Norway in line with the license
requirements, while simultaneously running on business terms and
being competitive in a market that is characterized by continuously
increasing competition. Norway Post is the largest workplace in
Norway with around 20,000 employees, including more than 10,000
post deliverers and drivers who serve Norway’s 2.7 million
households and companies, distributing letters, packages and
unaddressed mail on 4,750 routes. Expansion within new product and
market areas means that Norway Post is helping to strengthen the
traditional postal service in Norway and ensure that it  can
maintain a good, countrywide range of high quality postal

Norway Post’s Group structure consists of three divisions and
three staff teams. The Mail, Logistics and Logistics Solutions
divisions have a general business responsibility, and must develop
and supply competitive solutions to meet the needs of existing and
new customers individually and as a whole. The Group staff teams
are development-oriented competence units that assist the Group
management team, the board and the company’s divisions. Posten
Norge AS is a limited liability company that is 100 per cent owned
by the State through the Norwegian Ministry of Transport. Find out
more at:   href="">

About Visma

Visma is the leading provider of business software and business
processes for accounting & payroll. The group comprises five
business areas which are Visma Software, Visma BPO Accounting &
Payroll, Visma Procurement & Collecting and Visma Retail. As
one of few suppliers yet to combine software and BPO, Visma has
been a Nordic and European consolidator as the products and
services have become increasingly popular among the company’s more
than 220,000 customers. Today, Visma is known for developing
leading software solutions and high-quality services for satisfied
customers in combination with financial strength and solid growth.
The objective is to make the customers more efficient and
competitive through freedom of choice between software solutions
and outsourcing services. Visma is headquartered in Oslo, Norway.
The Visma Group is represented in Norway, Sweden, Denmark, Finland,
the Netherlands, Romania and the UK. Find out more at: href="">  

About Cognizant

Cognizant (NASDAQ: CTSH) is a leading provider of information
technology, consulting, and business process outsourcing services,
dedicated to helping the world’s leading companies build stronger
businesses. Headquartered in Teaneck, New Jersey (U.S.), Cognizant
combines a passion for client satisfaction, technology innovation,
deep industry and business process expertise, and a global,
collaborative workforce that embodies the future of work. With over
50 delivery centers worldwide and approximately 111,000 employees
as of March 31, 2011, Cognizant is a member of the NASDAQ-100, the
S&P 500, the Forbes Global 2000, and the Fortune 500 and is
ranked among the top performing and fastest growing companies in
the world. Visit us online at href=""> or
follow us on Twitter: Cognizant.

Forward-Looking Statements

This press release includes
statements which may constitute forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, the accuracy of which are
necessarily subject to risks, uncertainties, and assumptions as to
future events that may not prove to be accurate. Factors that could
cause actual results to differ materially from those expressed or
implied include general economic conditions and the factors
discussed in our most recent Form 10-K and other filings with the
Securities and Exchange Commission. Cognizant undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events, or

U.S.: Catherine Marenghi, Cognizant, +1-781-223-8673, catherine.marenghi at; or Europe: Ingrid van den Nieuwenhof, OCTANE PR, +31-(0)6-122-65-765, ingrid.vandennieuwenhof at; or Asia-Pac: Harsh Kabra, Cognizant, +91-9823273191, harsh.kabra at

will not be displayed