Cognizant has renewed its partnership with workplace experience and facility management company ISS for five years to support the latter in driving innovation within its financial organisation across Northern Europe.

Through the extended partnership, Cognizant will continue to provide ISS with financial and accounting (F&A) services.

Both parties joined forces in 2014. So far, Cognizant is said to have transitioned multiple and country specific processes and systems into one simplified, consolidated, and automated framework for ISS, thereby improving efficiency and reducing costs.

ISS shared services transformation head Pawel Rowicki said: “During our engagement with Cognizant we have transitioned from a multiple, and country specific, financial process to one consolidated and automated model.

“This has significantly improved our efficiency and the overall service we deliver to our vendors and customers. As a result, the finance team now process invoices faster and in a more cost-effective way due to the standardised service we operate.”

According to Cognizant, the improved services have enabled F&A employees at ISS to process more invoices each year. As a result, ISS delivers a better experience for their customers and vendors, said the IT firm.

Cognizant also delivered a new control framework which works to reduce duplication within the workflow of finance and account processes.

Apart from duplicate audit tools like ProHanc and Tracer, the company has introduced several different tools and systems to enhance automation.

Over the next phase of the project, Cognizant intends to boost continuous innovation and productivity improvements for the financial organisation.

This will be achieved by providing solutions and processes designed to streamline, harmonise, and standardise the way of working in order to realise more cost savings.

Cognizant said that work will be done to design solutions which will be deployed later across other business divisions in ISS alongside and in line with a continuous roll out of the Global One ISS strategy.

Cognizant Denmark country manager Thomas Djursoe said: “During our engagement, we have worked together to introduce a new operational model which has improved invoicing and communication for both ISS’s customers and vendors.

“ISS employees are also working more efficiently and in collaboration with multiple countries which has ultimately resulted in a lower cost for ISS due to the streamlining of operations.”