Everest Group Marketing Services PEAK Matrix® Assessment 2024
Focus on Cognizant
April 2024

Copyright © 2024 Everest Global, Inc. | this document has been licensed to Cognizant

Marketing Services PEAK Matrix® Assessment 2024

Introduction

The marketing industry is constantly evolving, largely
driven by shifting consumer preferences and theemergence of disruptive technologies. As consumers
become more discerning and technology savvy, marketers
are compelled to focus on delivering a comprehensive andimpactful Customer Experience (CX) by developing a 360°
view of their customers, creating immersive andpersonalized experiences across customer journey
touchpoints, and driving relevant brand campaigns.

profiles of 34 marketing service providers featured on theMarketing Services PEAK Matrix® Assessment 2024. Eachprovider profile provides a comprehensive picture of its
service focus, key Intellectual Property (IP) / solutions, anddomain investments. The assessment is based on Everest
Group’s annual RFI process for the calendar year 2023,
interactions with leading marketing providers, clientreference checks, and an ongoing analysis of themarketing services market.

As a result, the marketing provider ecosystem isundergoing significant transformation, driven by
investments in disruptive technologies, such as generative
Artificial Intelligence (AI), Augmented Reality / Virtual
Reality / Extended Reality (AR/VR/XR), Customer Data
Platforms (CDP), and Web3. Providers are focusing on
unifying highly fragmented customer data to understandconsumer sentiment and drive personalization, loyalty, andinteractive experiences. Additionally, they continue toexpand the marketing services delivery landscape byidentifying and investing in low-cost, talent-rich regions toenable localized and cost-efficient marketing operations.

The full report includes the profiles of the following 34
marketing service providers featured on the marketing
services PEAK Matrix:

In this research, we present an assessment and detailed

 Leaders: Accenture Song, Capgemini, Cognizant,Deloitte Digital, Infosys, TCS, Merkle, and VML
 Major Contenders: Concentrix, DDB, Dentsu Creative,
Digitas, eClerx, Epsilon, EXL, FCB, Genpact(Rightpoint), HCLTech, IBM, Initiative, Media.Monks,
OMD, PwC, RRD Go Creative, Tech Mahindra, andWipro Aspirants: Comviva, Exelatech, Firstsource, HGS, HH
Global, Randstad Digital (Cella), Stefanini, and Telus
WillowTree

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Scope of this report
Geography: Global
Industry: 34 marketing service providers
Services: Marketing services (refer topage 10 for the scope of the research)

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Marketing Services PEAK Matrix® Assessment 2024

Marketing services PEAK Matrix® characteristics
Leaders

Major Contenders

Aspirants

Accenture Song, Capgemini, Cognizant, Deloitte Digital, Infosys, Merkle, TCS,
and VML

Concentrix, DDB, Dentsu Creative, Digitas,
eClerx, Epsilon, EXL, FCB, Genpact(Rightpoint), HCLTech, IBM, Initiative,
Media.Monks, OMD, PwC, RRD Go
Creative, Tech Mahindra, and Wipro

Comviva, Exelatech, Firstsource, HGS,HH Global, Randstad Digital (Cella),
Stefanini, and Telus WillowTree Leaders have end-to-end capabilities across the marketing services value
chain, including creative production, media services, content management,
CX strategy and design, loyalty services, commerce, and data and analytics.
They have also built strong advisory and strategy offerings to position
themselves as an extension of enterprises’ in-house marketing teams
 They have actively focused on organic and inorganic investments tobridge the portfolio gaps and become a one-stop-shop for all marketing
services requirements
 Leaders have built a strong and balanced delivery portfolio, with asignificant presence in all major geographies and a workforce that is adept
in multiple languages
 Leaders have developed robust end-to-end MarTech capabilities forcustomer research, journey mapping, omnichannel customer view, andloyalty management, and they maintain a robust ecosystem of partnerships
with leading MarTech/AdTech vendors
 They differentiate themselves through their long-term vision of managing
emerging marketing services themes such as AI, including generative AI and
automation, innovative delivery models, ESG, and Web3-based technologies

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 Major Contenders have selective
capabilities in parts of the marketing
services value chain and actively
pursue organic and inorganic
investment opportunities to fill in theirportfolio gaps
 They are building capabilities to serve
different geographies and industry
segments while specializing in a few
regions and verticals
 They continue to invest in emerging
technologies and platforms and partnerwith third-party vendors to cater to thedemands of a diverse clientele

 Aspirants, with their limited scope ofservices, are focused on niche
geographies, industries, or buyers, andhave a relatively small scale ofoperations and a skewed shoring mix
 They offer innovative service delivery
models; however, their capabilities in
specialized services such as creativeand media are currently limited

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Marketing Services PEAK Matrix® Assessment 2024

Everest Group PEAK Matrix®
Marketing Services PEAK Matrix® Assessment 2024 | Cognizant is positioned as a Leader
Everest Group Marketing Services PEAK Matrix® Assessment 20241
Leaders
Major Contenders

High
Leaders

Aspirants

Accenture Song
MerkleDeloitte DigitalMarket impact

Measures impact created in the market

Star Performers

Low

Major Contenders
OMD

PwC
Genpact (Rightpoint)

Stefanini
Randstad Digital (Cella)
HH Global
Firstsource
HGS
Comviva
Exelatech
Telus Willowtree
Aspirants
Low

EpsilonDentsu Creative
Media.Monks

Initiative
DDB

RRD GO Creative

Cognizant
TCS

VML

InfosysCapgemini
Concentrix
FCB IBM
HCLTechDigitasTech Mahindra

Wipro
EXL
eClerxVision and capability

High

Measures ability to deliver services successfully

1 Assessments for DDB, Deloitte Digital, Dentsu Creative, Digitas, eClerx, Epsilon, EXL, FCB, HGS, HH Global, IBM, Initiative, Media.Monks, OMD, PwC, VML, and Wipro exclude service provider inputs and are based on Everest Group’s proprietary Transaction Intelligence (TI)
database, service provider public disclosures, and Everest Group’s interactions with buyers. For these companies, Everest Group’s data for assessment may be less complete
Source: Everest Group (2024)
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4Marketing Services PEAK Matrix® Assessment 2024

Cognizant profile (page 1 of 5)
Overview
Company overview

By geography

Cognizant, a US-based multinational corporation, offers a wide range of services encompassing
business and technology consulting, systems integration, application development and maintenance,
IT infrastructure services, AI, digital engineering, analytics, business intelligence, data warehousing,
Customer Relationship Management (CRM), supply chain management, engineering andmanufacturing solutions, enterprise resource planning, research and development outsourcing, andtesting solutions. Additionally, Cognizant delivers marketing experiences on a large scale to its
clients, with offerings that include customer strategy and insights, creative and design, content
management, campaign management, and marketing support. The company's substantial
investments in AI/ML and automation enable its teams to efficiently operate across various contexts,
channels, and timeframes.

Overall marketing revenue (CY 2023)<US$200 million

US$200-500 million

US$500 million-US$1 billion>US$1 billion

Low (1-15%)

High (>25%)

North America

United Kingdom

Rest of Europe

Asia Pacific

Latin America

Middle East & Africa

Australia & New Zealand

Adoption by Industry

N/A (0%)Low (1-10%)

Medium (10-20%)

High (>20%)

Automotive

BFSI

E-commerce

Healthcare and life sciences

Retail, distribution, and CPG

Energy and utilities

Telecom, media, andentertainment

Travel, transport,
and hospitality

Electronics, hi-tech,and technology

Public sector

Manufacturing

OthersAdoption by service segment

N/A (0%)

CustomerContent

Marketing Support

Media

By buyer size

N/A (0%)Low (1-10%)

Medium (10-20%)

High (>20%)

Campaign

Low (1-10%)

Not Disclosed

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Medium (15-15%)

Medium (10-20%)

High (>20%)

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Marketing Services PEAK Matrix® Assessment 2024

Cognizant profile (page 2 of 5)
Developments/Investments[ILLUSTRATIVE][NOT EXHAUSTIVE]

Recent developments (representative list)
Area

Type of development

Details

Technology

In-house

2023: developed Content Translation Engine, an AI-based content translation platform that enables context-aware translation of content faster and better, reducing
delivery time and enhancing the quality of translations. It complements the efforts of professional linguistic experts and enables businesses to scale seamlessly

Behavioral science

Talent2023: strengthened behavioral science capabilities through strategic investments by onboarding two PhD-level behavioral scientists. These experts contribute valuable
insights into consumer behavior and decision-making processes, introducing innovative methodologies and play a key role in upskilling the wider team throughpresentations, knowledge sharing, and training sessions, and fostering the integration of behavioral science across various departments including marketing throughinitiatives such as the Marketing Spotlight Series. This initiative reflects Cognizant's proactive approach to incorporating behavioral science across the organization

Data and analytics

Acquisition

2023: acquired AustinCSI, a premier digital transformation consultancy. The acquisitions aims to expand Cognizant's capabilities in enterprise cloud and data analytics
servicesTechnology

In-house

2022: developed in-house metaverse accelerator on unreal and unity platforms with all the prebuilt functionality such as multiplayer, voice chat, user management, andavatar engine support out of the box

Digital studios

In-house

2022: invested in three digital studios in Romania (Cluj Hexagon, Timisoara, and Baia Mare). The three offices have been refactored completely according to the studioexperience concept. All the offices have next-generation collaboration spaces (innovation lab, community space, huddle space, relaxation/fun/play areas, and flexible
cafeterias). In addition, opened a new studio in Vilnius, Lithuania in July 2022

Technology

In-house

2021: developed Cognizant Neuro – a modular, interoperable automation fabric that simplifies, accelerates, and amplifies intelligent automation

Technology

Acquisition

2021: acquired Magenic, a global product software engineering firm. The acquisition aims to expand Cognizant’s agile software and cloud development, DevOps,
experience design, and digital marketing advisory services

Technology

Acquisition

2021: acquired Servian, an APAC-based digital experiences firm. This strategic acquisition aims to enhance Cognizant's capabilities in AI, experience design, digitalmarketing, and data analytics. The goal is to empower APAC clients in building digital products and services, optimizing data value, modernizing enterpriseapplications, and achieving operational excellenceTechnology

In-house

2021: developed ORCHID, an in-house tool serving as an API orchestration layer for seamless integration of experience, business, and ERP functionalities. It facilitates
the amalgamation of services across various platforms including commerce, content, marketing, and fulfillment. This integration ensures a cohesive end-to-end
experience throughout the customer journey. It extends commerce features to support business aspects that may not be readily available in low-code or no-code
Software-as-a-Service (SaaS) platforms, enhancing its versatility

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6Marketing Services PEAK Matrix® Assessment 2024

Cognizant profile (page 3 of 5)
Case studies[ILLUSTRATIVE]
CASE STUDY 1
Created differentiated content experiences for luxury travelers through an end-to-end digital transformation
Business challenge
The client aimed to enhance the digital brand experience on its website to match the welcoming
atmosphere of its physical properties. Seeking a robust and forward-looking digital infrastructure,
the goal was to effectively market to customers and support ambitious plans to triple the number ofproperties globally.
Solution and impact
Cognizant collaborated with the client’s marketing and brand teams, leveraging content strategy, insight,
foresight, and immersive experience design to revamp the entire omnichannel customer experience. The
initiative involved architecting and implementing a comprehensive suite of technologies including Adobe
Experience Cloud, Middleware, Master Data Management (MDM), Customer 360, and more. It played apivotal role in fostering collaboration between the client’s marketing and IT teams through a scaled andagile DevOps operating model. This concerted effort resulted in a successful launch within a remarkably
short timeframe of seven months. Cognizant further automated omnichannel marketing, content production,and content migration by leveraging in-house tools.

[NOT EXHAUSTIVE]

CASE STUDY 2
Assisted an automotive major in advancing its Direct-to-Consumer D2C business model throughpersonalized marketing experiences
Business challenge
The client wanted to consolidate and organize data on Adobe Marketing Cloud to understand its
customers’ behavior and to centralize its campaign strategy for smoother and more efficient
operations.
Solution and impact
Cognizant established a multi-disciplinary infrastructure on Adobe Campaign and AWS cloud,incorporating global data models to automate personalized web and email campaigns. The approach
was tailored to the client's requirements, with customized e-mails and banners crafted at various
stages using a dynamic template approach. It designed and built an insights engine to enhancecustomer understanding through the integration of competitor data sets and psychographic
segmentation. This enabled the dealership properties to build their own campaigns through better
insights and access the creative assets managed by Cognizant.

Key marketing services engagements
Client name

Process served

RegionClient since

A global retail convenience store brand

Customer, campaign, marketing support, and media channels

US

Not disclosed

An US-based beverage company

CustomerUS

Not disclosed

A US-based online video sharing and social media platform

Customer, campaign, and content

US

Not disclosed

A global beverage and food company

Marketing support and campaign

US and Canada

Not disclosed

A Norwegian US-based music streaming service

Data and analytics

Norway and US

Not disclosed

A luxury hospitality brand

Customer, content, and marketing support

US

A German multinational manufacturer of automobiles

All

GermanA British car manufacturer

Customer, campaign, and data and analytics

UK

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2021

2023
Not disclosed

7Marketing Services PEAK Matrix® Assessment 2024

Cognizant profile (page 4 of 5)
Proprietary technology solutions[ILLUSTRATIVE][NOT EXHAUSTIVE]

Proprietary solutions (representative list)
Technology name

Process servedYear launched

Details

Cognizant Neuro™

All

2021

A modular, interoperable automation fabric that simplifies, accelerates, and amplifies intelligent automation

Cognizant LEAF™

Not disclosed

2019

A self-learning evolutionary AI algorithm that helps modify experiences on the fly, based on contextual demand as well as
customer data and preferences

Content Builder

Content

Not disclosed

A suite of content automation tools that programmatically build and author multi-channel marketing content across web
CMS, e-mail campaigns, landing pages, and e-Details

Ads Builder

Content and campaign

Not disclosed

A tool that is used to create variations of ads for different channels and sizes seamlessly to achieve ad production at scale
and make the ad production time efficient

Pixel PerfectContent and marketing
supportNot disclosed

A tool that compares actual content output with baseline specifications and reports the differences pixel to pixel

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8Marketing Services PEAK Matrix® Assessment 2024

Cognizant profile (page 5 of 5)Everest Group assessment – Leader
Measure of capability:

Market impact
Market adoption

Portfolio mix

Value delivered

Low

Vision and capability
Overall

Vision andstrategy

Scope of services
offeredInnovation andinvestments

Delivery footprint

OverallStrengths

Limitations

 Cognizant’s marketing services offerings range across the marketing value chain, including strategy and planning,
creative design and content, campaign management, ad operations, AI, marketing support, and sales operations

 While Cognizant has in-depth expertise in customer strategy,
content services, and campaign management, it has limited
experience in marketing support and media activation

 Its unique vertical- and geo-focused go-to-market strategy enables it to customize and integrate marketing offerings
and technology with industry and geography-specific domain expertise Cognizant’s proprietary solutions such as Cognizant Neuro (end-to-end process automation), Cognizant LEAF
(AI-based recommendation engine), and Content Builder (content automation tool) are built on strong technology
foundations to augment its services. They can be easily tailored according to the client’s requirements, to offer
solutions across content development, campaign operations, and marketing performance monitoring Its proprietary generative AI-powered Content Creation Engine enables context-aware content generation,translation, modularization, and optimization at scale. It has further made investments in behavioral science
research to help clients understand consumer behavior and decision-making processes
 It has a widespread delivery network for marketing services that includes 30 digital studios, four collaboration labs,
and 10+ innovation labs for the creation of customized client solutions

 Buyers have called out its project management, flexible operating model, and its large resource pool as some of
Cognizant’s strengths
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 While it has developed coverage across all major industries, itsclientele in certain industry segments such as telecom and travel,transport, and hospitality is limited
 Referenced buyers expect Cognizant to be more proactive andpropose more innovative marketing solutions

High

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Marketing Services PEAK Matrix® Assessment 2024

Appendix
PEAK Matrix framework
FAQs

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10Marketing Services PEAK Matrix® Assessment 2024

Everest Group PEAK Matrix® is a proprietary framework for assessment of market impact andvision & capability
Everest Group PEAK Matrix

Leaders

Measures impact created in the market

Market impact

High

Major Contenders

Aspirants

Low
Low

Vision and capability
Measures ability to deliver services successfully

Proprietary & Confidential. © 2024, Everest Global, Inc. | this document has been licensed to Cognizant

High

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Marketing Services PEAK Matrix® Assessment 2024

Services PEAK Matrix® evaluation dimensions

Measures impact created in the market –captured through three subdimensions

Portfolio mix
Diversity of client/revenue base acrossgeographies and type of engagements

Leaders

Market impact

Market adoption
Number of clients, revenue base,
YoY growth, and deal value/volume

Major Contenders

Aspirants

Value delivered
Value delivered to the client based on customer
feedback and transformational impact

Vision and capability
Measures ability to deliver services successfully.
This is captured through four subdimensions

Vision and strategy
Vision for the client and itself;
future roadmap and strategy

Scope of services offered
Depth and breadth of services
portfolio across service
subsegments/processes

Proprietary & Confidential. © 2024, Everest Global, Inc. | this document has been licensed to Cognizant

Innovation and investments
Innovation and investment in the enablingareas, e.g., technology IP, industry/domain
knowledge, innovative commercial
constructs, alliances, M&A, etc.

Delivery footprint
Delivery footprint and global
sourcing mix

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Marketing Services PEAK Matrix® Assessment 2024

Everest Group confers the Star Performer title on providers that demonstrate the mostimprovement over time on the PEAK Matrix®
Methodology
Everest Group selects Star Performers based on the relative YoY improvement on the PEAK Matrix

Market impact

Year 1
In order to assess advances on market impact, we evaluate eachprovider’s performance across a number of parameters including: Yearly ACV/YoY revenue growth # of new contract signings and extensions
 Value of new contract signings
 Improvement in portfolio mix
 Improvement in value delivered

Year 0Vision and capability
In order to assess advances on vision and capability,
we evaluate each provider’s performance acrossa number of parameters including: Innovation
 Increase in scope of services offered Expansion of delivery footprint Technology/domain specific investments

We identify the providers whose improvement ranks in the top
quartile and award the Star Performer rating to those providers with:
 The maximum number of top-quartile performance improvements
across all of the above parametersAND At least one area of top-quartile improvement performance in bothmarket success and capability advancement

The Star Performer title relates to YoY performance for a given provider and does not reflect the overall market leadership position, which is identified as Leader, Major Contender, or Aspirant.
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13Marketing Services PEAK Matrix® Assessment 2024

FAQs

Q: Does the PEAK Matrix® assessment incorporate any subjective criteria?
A: Everest Group’s PEAK Matrix assessment takes an unbiased and fact-based approach thatleverages provider / technology vendor RFIs and Everest Group’s proprietary databases containing
providers’ deals and operational capability information. In addition, we validate/fine-tune these results
based on our market experience, buyer interaction, and provider/vendor briefings.
Q: Is being a Major Contender or Aspirant on the PEAK Matrix, an unfavorable outcome?
A: No. The PEAK Matrix highlights and positions only the best-in-class providers / technology vendors ina particular space. There are a number of providers from the broader universe that are assessed anddo not make it to the PEAK Matrix at all. Therefore, being represented on the PEAK Matrix is itself afavorable recognition.
Q: What other aspects of the PEAK Matrix assessment are relevant to buyers and providers other than
the PEAK Matrix positioning?
A: A PEAK Matrix positioning is only one aspect of Everest Group’s overall assessment. In addition toassigning a Leader, Major Contender, or Aspirant label, Everest Group highlights the distinctive
capabilities and unique attributes of all the providers assessed on the PEAK Matrix. The detailed
metric-level assessment and associated commentary are helpful for buyers in selecting
providers/vendors for their specific requirements. They also help providers/vendors demonstrate theirstrengths in specific areas.
Q: What are the incentives for buyers and providers to participate/provide input to PEAK Matrix
research?
A: Enterprise participants receive summary of key findings from the PEAK Matrix assessment
 For providers– The RFI process is a vital way to help us keep current on capabilities; it forms the basis for our
database – without participation, it is difficult to effectively match capabilities to buyer inquiries– In addition, it helps the provider/vendor organization gain brand visibility through being in included inour research reports

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Q: What is the process for a provider / technology vendor to leverage its PEAK Matrix positioning?
A: Providers/vendors can use their PEAK Matrix positioning or Star Performer rating in multiple ways
including:– Issue a press release declaring positioning; see our citation policies– Purchase a customized PEAK Matrix profile for circulation with clients, prospects, etc. The package
includes the profile as well as quotes from Everest Group analysts, which can be used in PR– Use PEAK Matrix badges for branding across communications (e-mail signatures, marketingbrochures, credential packs, client presentations, etc.)
 The provider must obtain the requisite licensing and distribution rights for the above activities throughan agreement with Everest Group; please contact your CD or contact us
Q: Does the PEAK Matrix evaluation criteria change over a period of time?
A: PEAK Matrix assessments are designed to serve enterprises’ current and future needs. Given the
dynamic nature of the global services market and rampant disruption, the assessment criteria
are realigned as and when needed to reflect the current market reality and to serve enterprises’ future
expectations.

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