MUMBAI, India, Oct. 23, 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 recognized as a 'Star Performer' and 'Leader' in Banking BPO by Everest Group in its report, "Banking BPO – Service Provider Landscape with PEAK MatrixTM Assessment 2013, September 2013."
In this report, Everest Group analyzed the position of 17 service providers using the Everest Group Performance Experience Ability Knowledge (PEAK) Matrix for Banking BPO. The PEAK Matrix is a framework to assess the absolute matrix success and overall capability of service providers across multiple dimensions, including market success, scale, scope, technology capability, delivery footprint, and client satisfaction.
The service providers are divided into three categories based on performance: Leaders, Major Contenders and Emerging Players. TCS' positioning as a Leader is a result of its overall composite score on the back of its significant growth, cloud-based hosted offerings, strong alliances, and technology capabilities. The designation as a Star Performer is based on TCS' year-on-year movement on the PEAK Matrix.
"Our assessment shows that TCS has one of the most comprehensive offerings and experience in serving the Banking BPO market in terms of geographic regions and Lines of Businesses (LoBs)" said Rajesh Ranjan, VP, Everest Group. "Its banking-specific technology investments and capabilities, as well as 'balanced shore' model also helps to differentiate it in the market place."
"Our continued market leadership in the banking business process services is an acknowledgment of the value we bring to our clients as they transform their business models," said Abid Ali Neemuchwala, Global Head, Business Process Services at TCS. "Our pioneering vision, well articulated strategy and disciplined execution have allowed us to become a strategic partner to leading global banks."
As banks look to drive efficiencies, grow beyond traditional markets and find new channels to reach customers, they are increasingly turning to partners such as TCS help them stay competitive. With its vast banking experience and BaNCS banking platform, TCS helps customers achieve best-in-class processes executed on best-of-breed technology. TCS's robust risk management, proven transformation methodology FORE™, solution accelerators TRAPEZE™, and its extensive analytics expertise ensure that banks have better compliance and controls, a roadmap to business excellence and predictability in business results.
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 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, BPS, 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 285,000 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