Conduent Incorporated (NYSE:CNDT) Q2 2019 Earnings Conference Call - Final Transcript

Aug 08, 2019 • 05:00 pm ET


Conduent Incorporated (NYSE:CNDT) Q2 2019 Earnings Conference Call - Final Transcript


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Cliff Skelton

to successfully execute this next phase of our journey. Now by way of background, the last 20 years of my career included leading large-scale transformation efforts, while serving as a Chief Information Officer, a Global Head of Technology and Operations at two Fortune 500 companies. In addition to having had the privilege of holding key operational and technology roles on the client side and some of the largest financial services companies in the world. This experience provides a unique viewpoint for understanding client needs and the direction for our overall corporate strategy.

There's an opportunity here at Conduent to empower our employees around the mission and unlock tremendous value through transformation. Along with a loyal and diverse client base, we have strong platforms and significant talent within this organization. Well, of course, there is room for improvement in how we manage our processes and our people. But if we modify our practices and motivate our employees and put the right people in the right jobs, we can unleash the value that sits within the organization and get us back on track in our pivot to growth.

Now, why don't we turn to Slide 4 to discuss how we're going to get there? In the next phase of our transformation, we're considering all three decision-making outcomes of cost, risk and quality. Improvements in all three categories represent a tremendous opportunity moving forward because increased quality, measured risk mitigation and process excellence enable and improve brand, enhance reputation and with it client retention. Along the way, we need to balance expense reduction efforts with proper investment in our people, our processes and our technology, which are key levers in any transformation.

Regarding our people, we need to invest in the right talent to transform the foundation. We need improved retention, better training, better hiring practices, and we need to drive leaders to motivate their teams. Attrition is something that has to be improved, as it's costly and disruptive to clients and their end-users, and teamwork is critical.

With respect to process, we need to improve our change management, people management, risk management, incident and problem management processes through better decision-making efforts and fewer handoffs. And finally as it relates to technology, we need to continue to upgrade critical platforms, improve our development efforts and continue to focus on the value and security of client delivery. Now with excellent execution, the outcome will be stronger growth, improved efficiency and a more stable environment, utilizing enhanced sales capability and state-of-the-art product offerings.

I'm motivated by the prospect of enhancing our approach and look forward to serving our investors and positioning Conduent to capture the value it deserves. Meanwhile, as we continue to transform our Company and make progress in our previously-stated pivot to growth, our investments will also need to pivot and as mentioned, extend toward client quality endeavors and people improvement.

Efficiency improvements, along with our platform modernization, will have to continue, but at a more measured pace in view of these transformational