Cognizant
Cognizant is a $20 billion global leader in IT services and consulting with a presence in over 40 countries. As a NASDAQ-listed entity with extensive global operations, Cognizant’s financial landscape is shaped by significant non-dollar exposures, driven by its acquisitions and international footprint. Managing these exposures requires precision, innovation, and a commitment to excellence.
Venkataraman, a seasoned treasury professional with 16 years at Cognizant, plays a critical role in ensuring the company’s financial resilience. As the Middle Office Lead in Treasury, Venkat oversees regulatory compliance, policy adherence, and the management of balance sheet and cash flow exposures. His guidance ensures Cognizant’s front office executes trades aligned with the company’s strategic goals.
The Journey to AtlasFX
When did you first learn about AtlasFX?
“I first heard about AtlasFX at an AFP conference nearly a decade ago. At the time, we weren’t
ready to invest in such solutions due to budget constraints and limited exposure volumes. By
2018, however, our needs had evolved. We began exploring options and ultimately chose
AtlasFX for its superior understanding of our challenges and its robust solutions.”
Why did you choose AtlasFX?
“We evaluated several vendors, but AtlasFX stood out. Their feedback, analytical capabilities,
and comprehensive solutions convinced us they were the right fit. Despite being slightly above our initial budget, we didn’t hesitate. AtlasFX offered the best value for our needs.”
From manual process to automation
What was your process like before AtlasFX?
“Previously, everything was manual. We relied on inputs from our ERP system, PeopleSoft, to
calculate exposures for our two programs: the cash flow hedge program (focused on USD-INR) and the balance sheet hedge program (covering multiple currencies). Forecasting, calculations, and triangulating cross-currency exposures were labor-intensive and error-prone. As our operations grew, manual processes became unsustainable.”
How does AtlasFX work for you now?
“AtlasFX revolutionized our workflow. It provides dynamic exposure visibility and automates
processes from exposure calculation to trade execution. Data flows seamlessly between
AtlasFX, our trading platform, and our TMS (Reval), creating a straight-through process. This
automation reduces manual intervention, enhances accuracy, and monitors compliance with
board limits.”
The results
What improvements has your team experienced since implementing AtlasFX?
“The automation cycle has been transformative. We now analyze exposures in granular detail,
identifying and addressing intercompany imbalances before they require hedging. This
proactive approach has significantly reduced our balance sheet exposure size over the past year.
Additionally, managing cross-currency exposures, once unimaginable manually, is now
effortless. For our cash flow hedge program, forecasts and reports are automated and easily
accessible.”
How has AtlasFX helped your company?
“It’s about more than just saving time. Automation ensures our processes are dynamic.
By closely monitoring exposures, even without daily hedging, we’re better equipped to
manage risks. The system’s integration across platforms ensures efficiency and
scalability as we continue to grow.”
Seamless deployment
How would you describe the deployment process?
“Deployment was smooth. AtlasFX’s pre-existing integrations with our trading platform
and TMS simplified the process. Strong relationships with all vendors ensured
collaboration and efficiency. It was a seamless experience.”
Empowering Cognizant’s future
With AtlasFX, Cognizant has achieved a streamlined, scalable treasury operation
capable of supporting its growth. Venkat and his team’s strategic use of
automation and analytics underscore Cognizant’s commitment to excellence in
financial management, setting a benchmark for treasury innovation in the industry.
