Cognizant, Visma bag multi-year outsourcing deal from Norway Post

NEW DELHI: Nasdaq-listed Cognizant today said it has bagged a multi-year outsourcing deal in partnership with business software and services firm Visma from Norway Post.

Norway Post is a Norwegian postal and logistics services company, owned by the Norwegian Ministry of Transport and Communications.

However, the deal size was not disclosed. As part of the multi-year deal, Cognizant and Visma will collaborate to deliver finance and accounting services to Norway Post, Cognizant said in a statement.

The services delivered will include transactional finance services, ranging from accounts payables and receivables to fixed assets, general ledger, and period-end closing, it added.

Visma will combine its local Norwegian accounting and regulatory expertise with Cognizant's global delivery model, transaction processing capabilities.

"This is one of the largest Norwegian outsourcing contracts ever awarded within finance and accounting outsourcing," Visma Services CEO Peter Lauring said.

This will deliver significant process improvements, greater operational efficiencies, increased automation, enhanced productivity and a high-quality customer experience.

"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," Cognizant Senior Vice President and Head of Continental European Operations Santosh Thomas said.