Cognizant has renewed its contract agreement with Volvo Cars to provide financial and accounting and procurement services. The agreement covers the automaker's global accounts payable and receivables, direct and indirect procurement, and logistics services.
In the new three-year agreement, Cognizant will enable Volvo Cars to coordinate finance, accounting and procurement processes and implement intelligent process automation (IPA) to improve efficiency and support the ongoing digital transformation journey. Volvo Cars uses best-in-class on-time payment (POT), highly automated, contactless invoice processing, faster resolution of supplier and customer inquiries through ticketing tools, and will also be able to reduce the cost of delivering business process services and improve overall business outcomes. (PR Newswire, February 9, 2022, Tinek, NJ)
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