Financial Daily from THE HINDU group of publications
Thursday, Dec 09, 2004
Financial Daily from THE HINDU group of publications Thursday, Dec 09, 2004 |
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Info-Tech
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Software Cognizant centre in Canada Our Bureau
CHENNAI: Cognizant, a provider of IT services, on Wednesday said that it has opened a development centre in Toronto to provide services to US and Canadian clients. This can be seen as part of a larger trend of software services companies setting up centres nearer where their clients are located. This helps in quicker communication between the client and the centre, while reducing costs. These development or delivery centres are called as near-shore clients. In a statement, Cognizant says that the Toronto centre, its eighteenth globally, stems from clients' demand for a presence there. The release also cited Forrester's research that said that Canadian firms spend a larger portion of their budgets on IT services than US firms do. According to the statement, Forrester anticipates that Canadian companies will have spent 50 per cent more of their budgets on outsourcing than US companies when final 2004 spending figures are reported.
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