STOCKHOLM, March 31, 2011 /PRNewswire/ -- Cognizant , a leading provider of consulting, technology, and business process outsourcing services, today announced that it has been selected by Volvo Car Corporation to deliver a broad spectrum of Finance and Accounting (F&A) services.

As part of the deal, Cognizant will operate and optimize Volvo Car Corporation's F&A processes, while improving cost effectiveness and service delivery. Cognizant will participate in the entire value chain of F&A services ranging from accounts payables, receivables and fixed assets, to accounting, general ledger and periodic end closing, along with procurement services for production and non-production materials.

"We are pleased to have been selected by Volvo Car Corporation for their entire range of F&A services," said Santosh Thomas, Senior Vice President and Head of Continental European Operations for Cognizant. "We look forward to leveraging innovative service models and best practices in F&A transaction processing to help Volvo Car Corporation realize process improvements, increase automation, drive cost efficiencies, enhance business effectiveness and improve productivity."