Beyond static stress testing: Real-time risk management for an unpredictable world
Risk is inherent to capital markets, but implementing dynamic risk assessment gives banks the visibility they need to stay competitive in turbulent times.
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Discover industry-specific solutions and expertise.
Solve your toughest A&D challenges with Belcan.
Ignite peak performance and efficiency in your business.
Reimagine your manufacturing competitive advantage.
Accelerate growth with customer-focused solutions.
Our data and AI solutions align with your business outcomes and create impactful results.
Personalize learning experiences with education tech and IT solutions—and make learners feel valued.
Create strategies for product, service and process innovation that deliver new growth.
Meet customer demands for a digital, personalized online insurance experience—while reducing risk.
Digitally transform to empower a more intelligent, agile and high-performing enterprise.
Make business decisions based on real-time contextual data with our digital solutions.
Stay ahead of the competition with the latest tech like IoT, machine learning and blockchain.
Deep industry expertise to propel your business into the future.
Explore Belcan’s flexible, custom-tailored solutions.
Put AI to work and turn opportunity into value.
Accelerate time to value for industrial edge AI.
Maintain high integrity across the AI lifecycle.
Realize the next frontier of enterprise performance.
Enhance operations, boost efficiency, remove technical debt and modernize apps for the future.
Operate with insight and speed—using AI-powered processes that supercharge performance.
Turn big visions into practical realities with expertise that takes you further.
Boost operational efficiency, optimize costs and speed product development.
Reimagine the customer experience, attract and retain top talent, and win in the digital economy.
Sense change, optimize operations and mitigate risk with data-driven insights at quantum speed.
Enable a more secure and value-centered business with proven next-gen solutions.
Turn sustainability commitments into achievable milestones.
AI insights to inspire enterprise transformation.
Understand and anticipate the needs of AI-empowered customers.
Invest in people to unlock the power of AI.
Bridge the gap between strong AI leadership and business readiness.
Explore the future of business with our Gen AI insights.
Keep up with the trends shaping the future of business—and stay ahead in a fast-changing world.
Explore the top focus areas that are important to Cognizant and our clients.
Dive into our forward-thinking research and uncover new tech and industry trends.
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April 29, 2022
Consumers are now in the driver’s seat. Here are three ways to adjust to the new power dynamic.
While we all hope the pandemic fades to a distant memory, the consumer resourcefulness it engendered is here to stay.
How could it not? There were the product outages (remember foraging through local stores for toilet paper?). There were the supply chain malfunctions and labor shortages (container ships, semi-trucks and freight trains sitting idle, with nowhere to go and nobody to unload them when they got there).
To overcome the global feeling of institutional incompetence, people everywhere needed to break from old habits and behaviors to meet the challenges of the day.
Is it any wonder that consumers—stuck at home but equipped with powerful computers and plenty of network bandwidth and surrounded by way too many new stories about the ferocious impact of climate change—developed a new mindset?
Meet the “new consumer”—people who no longer need to wait around for businesses to create the products they want, bring them to market efficiently and behave responsibly while doing so.
Instead, they can find and develop their own process workarounds, estimate carbon footprints, turn to DIY if it seems “greener,” discover alternative sources and create their own knowledge bases—through social media channels or even by creating their own apps—to get the products, services, experiences and information they need.
Businesses must accept they’re no longer in the driver’s seat to meet these new consumers where they are. The lines between “business” and “consumer” will continue to blur as new paradigms like co-creation, “everything as a service” (XaaS) and distributed ledger technologies redefine ownership and power models.
In a trend that will only grow, consumers will demand more say in their overall experience, from how they minimize their ecological footprint to the ingredients in their cologne. Here’s how businesses can renew their ties with the new consumer:
With their increased influence over product and service compilation, and the ability to create their own tools to find out what businesses aren’t ready (or can’t or don’t want) to divulge, the new consumer could ultimately influence businesses’ sourcing decisions, pricing environmental and social factors into the final cost and reshaping the value chain along the way.
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