MUMBAI, India, Sept. 4, 2013 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced today that it has been positioned as a Leader in Finance & Accounting (F&A) Business Process Services by Everest Group in its report, "Finance and Accounting Outsourcing (FAO) – Service Provider Landscape PEAK Matrix Assessment 2013, August 2013."
In this report, Everest Group analyzed the position of more than 20 service providers using the Everest Group Performance Experience Ability Knowledge (PEAK) Matrix for FAO. These service providers are divided into three categories based on performance: Leaders, Major Contenders and Emerging Players. The PEAK Matrix is a framework to assess the absolute matrix success and overall capability of service providers.
TCS' leadership position on the FAO PEAK Matrix is a result of its top quartile overall score based on Everest Group's relative assessment across multiple dimensions including market success, scale, scope, technology capability, delivery footprint, and client satisfaction. The report also highlights TCS' strengths and investments in Software as a Service (SaaS) and Business Process as a Service (BPaaS) offerings spanning supply chain management, F&A, and analysis.
"With a scale of over 11,000 FAO FTEs and 40+ clients in FAO, TCS has emerged as a Leader on Everest Group's FAO PEAK Matrix," said Saurabh Gupta, VP, Everest Group. "Technology-led solutions combined with strong industry orientation in FAO solutions are the key differentiators for TCS. TCS is amongst the few providers with the experience and capability to work across all different technology components in FAO – tie-and-run, augmentation, and BPaaS."
"We believe that our leadership position reflects the value that CFOs experience and have come to expect when working with TCS," said Abid Ali Neemuchwala, Global Head, Business Process Services at TCS. "Our domain, analytics and technology capabilities have helped our customers improve the efficiency and effectiveness of their finance functions, meeting their business growth and market agility goals. Our FORE™ Transformation methodology, TRAPEZE™ accelerator and automation suite, and our F&A Platform have been instrumental in creating value for our customers."
Enabling growth has become one of the primary business goals for finance organizations. Increased regulatory requirements and mitigating risks through stringent budgeting and planning has become the norm for CFOs. TCS' F&A services help CFOs and Controllers create visibility and transparency around capital and assets with our domain expertise and transformational capabilities. TCS' FORE™ methodology provides CFOs and Controllers with a roadmap to expand the role of controllership beyond execution and financial efficiency to a more strategic and proactive growth enabler.
About TCS Business Process Services
Business Process Services (BPS) at TCS is about managing and executing business operations. Our domain expertise helps deliver core business processing across industries, analytics and insights and support processes such as accounting, HR and supply chain management. TCS partners with customers to accelerate co-transformation, and generates business value for customers through delivery excellence, risk management and through innovative Business Process as a Service (BPaaS) models . With over $1.4 billion in BPS revenues and 48,000+ employees across 17 countries delivering services to over 225+ customers, TCS is one of the leading Global Domain based BPS providers.
About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO,infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India's largest industrial conglomerate, TCS has over 277,000 of the world's best-trained consultants in 44 countries. The company generated consolidated revenues of US $11.6 billion for year ended March 31, 2013 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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SOURCE Tata Consultancy Services