Cognizant and OneSource Virtual, a Dallas, Texas-based Workday partner, have reached a deal for Cognizant to purchase OneSource Virtual’s professional services and application management businesses. The addition of these skills to Cognizant’s current Workday advising implementation services for finance and HR will enhance its capacity for consulting, deployment, and post-deployment support across North America and the UK.
“Adoption and migration to the cloud to manage workflows is only accelerating, and the Workday platform ecosystem continues to be embraced as a critical tool to provide finance, HR, and other functions greater resiliency and agility. Acquiring the professional services and application management practices from OneSource Virtual enables Cognizant to expand our client offerings and provide end-to-end support in the business transformation journey, We are pleased to be welcoming the talented professionals from OneSource Virtual who will join Cognizant in growing and expanding our Workday capabilities globally.”
– Rob Vatter, Executive Vice President of Cognizant’s Enterprise Platform Services
After the transaction is completed, Cognizant will hire close to 400 new workers, expanding its pool of specialists with credentials in Workday implementation and support. These people, who are dispersed across the US, Canada, and the UK, will join Cognizant as members of its Collaborative Solutions team, which serves as the center of the company’s Workday practice. Collaborative Solutions, one of the most established Workday Services Partners, will be acquired by Cognizant in 2020.
Customers will value how this focuses the professional services, application management, and BPaaS teams and allows them to operate independently to speed up investment in new products, in our opinion, making Cognizant the ideal home for our professional services and application management services businesses while we concentrate on the business process as a service (BPaaS) division going forward. For us, offering growth and innovation for our clients is ultimately what matters most, and we are convinced that doing so will be made easier by this, said Trey Campbell, CEO of OneSource Virtual.
We are thrilled that Cognizant has acquired OneSource Virtual professional services and application management businesses. Sam Alkharrat, Chief Partner Officer at Workday, said, “We look forward to continuing our partnership to support our customers as they begin their digital transformation journeys and arm leaders with the finance and people insights they need to respond to shifting business needs.”
Subject to the fulfillment of closing conditions, the transaction is scheduled to conclude by the year’s end in 2022. Financial information was kept private.
About OneSource Virtual
leading suppliers of Workday services, solutions, and products include OneSource Virtual. OSV was established in 2008 in Dallas, Texas, and now has operations across North America and Europe. It serves over 1,300 clients globally by providing solutions that increase productivity, enhance compliance, and expand internal capacity. OSV has received various honors since it was established and has a 98% retention rate. The leadership teams of OSV are made up of seasoned experts in their respective disciplines. Together, they have the experience and in-depth industry knowledge necessary to provide complete solutions and services for HR, Finance, and Accounting.
Modern enterprises are designed by Cognizant. We assist our customers in updating technology, rethinking workflows, and transforming experiences so businesses can remain competitive in a world that is rapidly changing. Together, we’re making life better for everyone.