A new study from Cognizant, a leading provider of IT services, shows that on average, 12 percent of business software applications in most large enterprises are redundant and can be either consolidated or eliminated. The study also shows that Cognizant's customers - across its industry practices in insurance, financial services, healthcare and media - have reduced their information technology (IT) maintenance costs by a sustained 30 - 40 percent, after using the Portfolio Analysis service and leveraging Cognizant's offshore capabilities. Clients saved an average of 12 percent even before moving applications management offshore by using Cognizant's Portfolio Analysis Service to develop and implement a strategy for streamlining their systems.

"Many organizations, ranging from large commercial banks to mid-sized healthcare providers, have redundant systems resulting from the buying splurge of the dot-com days, 'under the radar' skunk works projects and M&A activity," said Kaushik Bhaumik, VP of Business and Technology Consulting at Cognizant. "Cognizant helps clients gain a clear understanding of which software applications are critical to their businesses, how those systems can be enhanced, and what it costs to run key systems over the long term."

"Companies are now looking to run IT as efficiently as possible and are increasingly turning to Cognizant to provide analysis and strategy recommendations that will enhance their operational performance over the long-term," said Lakshmi Narayanan, CEO and President of Cognizant. "We provide IT strategy consulting, and business operations consulting through our Business and Technology Consulting practice, extending the value of our leading onsite/offshore delivery model. Combined with our expertise in applications management and development, Cognizant advises its clients how to get bottom-line results using the most effective IT investment and operational strategies."

The study is available at cognizant.com.

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