Royal Philips Electronics has outsourced business transformation to IT services provider Cognizant in a multi-year deal that will see its IT moved to a managed service.
Philips is embarking on a programme to consolidate and rationalise its IT to make it more efficient and responsive to the demands of the business.
The deal will see Philips' IT delivered on a platform as a pay-per-use managed service. Philips plans to cut costs and free-up resources through the deal.
"Our relationship with Cognizant will allow us to leverage its extensive consulting, domain and technology capabilities for the business transformation programme that forms the cornerstone of our endeavour to drive agility, innovation, and competitiveness," said Jeroen Tas, CIO at Philips.
"Cognizant will help create solutions that enable Philips to capitalise on business opportunities and win in the marketplace."
Cognizant said the deal with Dutch corporation Royal Philips Electronics is part of its focus on Europe, where it has a growing list of customers.
Philips has contracted Wipro to support the transformation of business processes at the company.
