Inchcape selects Cognizant for digital finance transformation

22 April 2021 Consultancy.uk 2 min. read

UK-based automotive distribution and retail company Inchcape has enlisted Cognizant to support the company’s digital transformation agenda within its finance and accounting function. 

Listed on the London Stock Exchange since 1958, Inchcape is a London headquartered company employing around 15,000 people. The firm is an independent multi-brand global automotive distributor, operating in 34 markets with a portfolio of the world's most recognisable automotive brands.

Inchcape has diversified multi-channel revenue streams, including sale of new and used vehicles, parts, service, finance and insurance. However, as digital disruption continues to sweep the automotive market, the company has embarked on an overhaul of its finance and accounting backbone.

Inchcape selects Cognizant for digital finance transformation

Gijsbert de Zoeten, CFO of Inchcape, explained: “Inchcape and the markets in which we operate are evolving, becoming digital and data-led to support the omnichannel interactions we have with our customers.”

To address this, the firm is investing in technology and standardising processes for some of its transactional activities, enable more efficient operations, while allowing staff to give greater focus to business partnering. As is the case with most transformations, the firm has looked to the world of consulting for help implementing these grand designs.

The £6 billion company has selected Cognizant as its digital transformation partner. As part of the collaboration, Cognizant will help drive new efficiencies and identify business insights that enable Inchcape to make faster and smarter business decisions.

“We are delighted to be partnering with Cognizant for delivery of some of these transactional services and look forward to working closely together as Inchcape continues to transform its business,” said De Zoeten, who previously was the CFO of fast moving consumer goods giant Unilever in Europe.

Cognizant will work to help address the challenges of aligning and simplifying multiple financial systems, processes and services secured through its acquisitions as the company experiences significant growth. The consulting firm will leverage its advanced technologies, including machine learning, data analytics and robotic process automation, together with Inchcape’s new investments in advanced finance technologies.

Duncan Mears, Vice President of UK Digital Business Operations at Cognizant, said, “Inchcape recognises the forward-thinking approach of standardising and simplifying its operations to unlock synergies across its financial systems… We are proud to collaborate with Inchcape and bring together technology and advanced business process services to produce a future-proof ecosystem.”