Teaneck: US-based Indian IT consultancy Cognizant reported net income up 17% to $1.44 billion in 2014, on revenue up 16% to $10.26 billion. "Despite unfavorable European currency movements during the fourth quarter, we finished 2014 with strong revenue performance and believe we are well positioned to continue that momentum into 2015 on the strength of our integrated consulting, technology, digital and business services capabilities," said Francisco D'Souza, Chief Executive Officer of Cognizant. "Business leaders globally are facing dramatically compressed innovation cycles and are challenged with the dual mandate of simultaneously achieving efficiency and innovation. They are turning to us as a partner that can help them re-imagine their businesses for the digital era." The firm forecasts 19% revenue growth this year.