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Cognizant and the North Carolina Turnpike Authority Collaborate to Modernize Toll Operations

1. CTSH partners with NCTA to modernize North Carolina's tolling system. 2. Collaboration aims to develop an API-driven back-office system for seamless operations. 3. Initiative targets infrastructure-less tolling, integrating with partners like Volvo Car USA. 4. Total addressable market for U.S. tolling is projected to be $1.6 billion. 5. Cognizant aims to enhance operational efficiency and reduce traditional tolling dependencies.

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Why Bullish?

Strategic partnerships often lead to increased market share and revenue potential for CTSH, evidenced by historic collaborations enhancing competitive positioning. The movement towards a $1.6 billion market adds significant growth opportunity.

How important is it?

This partnership highlights CTSH's role in crucial state infrastructure projects, underscoring its potential for sustained revenue growth in a substantial market.

Why Long Term?

The project's multistage implementation implies sustained revenue benefits as the tolling system modernizes, similar to CTSH's past initiatives that aligned with long-term state infrastructure projects.

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Strategic collaboration aims to revolutionize infrastructure-less tolling and enhance operational efficiency across North Carolina, /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced a strategic partnership with the North Carolina Turnpike Authority (NCTA) to develop and implement a next-generation tolling back-office system. With the first stage under way, this multi-stage engagement aims to deliver a scalable, API-driven architecture that integrates seamlessly with partners including Mastercard and Volvo Car USA. With Cognizant leading the technology orchestration across all systems, this initiative marks a significant step in NCTA's journey to modernize tolling operations and reduce infrastructure dependency. It aims to eliminate the need for traditional toll transponders, allowing drivers to pay tolls directly through Volvo's infotainment system. Cognizant's IoT and API development capabilities are expected to be central to enabling a successful proof of concept (POC), laying the foundation for infrastructure-less tolling and immediate revenue recognition for NCTA. "We are excited to collaborate with Cognizant and our other pilot partners to bring our vision of modern, infrastructure-free tolling to life," said James J. Eden, Executive Director of the N.C. Turnpike Authority. "This partnership is a critical milestone in our mission to deliver innovative, customer-centered transportation solutions for North Carolina." The tolling industry has long been reliant on labor-intensive and capital-heavy systems. NCTA is pioneering a shift toward agile, digital-first tolling models, and Cognizant is proud to support this transformation with its deep expertise in building back-office systems for tolling agencies across the U.S."This engagement with NCTA represents a major opportunity to reshape tolling operations in the U.S.," said Vishal Attal, Vice President and Head of Transportation and Logistics business at Cognizant. "With a total addressable market of $1.6 billion in the U.S. alone, we're thrilled to help NCTA lead the way in tolling innovation and deliver measurable outcomes through technology."About North Carolina Turnpike Authority To help keep pace with the transportation needs of the state, NCTA plays a critical role by studying, planning, developing and building toll facilities on behalf of communities that request them. With innovation and customer-centered service at its core, the Triangle Expressway was the first toll road in the country to utilize all-electronic tolling technology from inception. To learn more about the NCTA, visit ncdot.gov/divisions/turnpike.About Cognizant Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes, and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.For more information, contact:Maribel Lopez Cognizant [email protected] (551) 293-1279Logen Hodges NCTA [email protected] (919) 695-6611 SOURCE Cognizant Technology Solutions Corporation WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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