Source: The Economic Times India
MUMBAI: Cognizant’s move away from the content moderation business, including the service it provides Facebook to monitor user content, has opened up an over $250 million (Rs 1,795 crore) a year opportunity for other companies.Genpact is likely to benefit the most, while Accenture and Wipro, too, stand to gain as Cognizant’s clients are expected to initiate a rebidding process to assign contracts to new service providers, analysts said.Industry experts expect the rebidding process to begin soon. In fact, some of the work from a Cognizant client has already moved to Genpact, said a person aware of the development. “They are already a large client for Genpact. But a lot of the other IT services and BPM (business process management) companies are pushing for the business as well. It’s good for companies because a major competitor has left the business,” a BPM industry executive said.The decision to move out of the business, which focuses on determining whether content violated client standards, is in line with Cognizant’s strategy towards becoming a more cost-efficient and digital-driven company.