NEW YORK and MUMBAI, India, Dec. 18, 2014 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, today announced it has been recognized as a 'Leader' in Procure-to-Pay (P2P) outsourcing by Everest Group in its report, "Procure-to-Pay Outsourcing – Service Provider Landscape with PEAK MatrixTM Assessment 2014," October 2014.
The Everest Group report analyzed 30 service providers using its Performance, Experience, Ability and Knowledge (PEAK) Matrix for P2P Outsourcing. Everest also analyzed service provider capabilities 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' position as a Leader was driven by its strong industry domain knowledge, solution accelerators and wide portolio of offerings.
"TCS' recognition is due to its strong delivery capability enabled by process expertise, technological investments in terms of platform and automation along with an analytics-driven approach," said Rajesh Ranjan, Partner and Head, BPS Research, Everest Group. "This has helped TCS succeed in the market place and acquire a diversified client portfolio."
"Our P2P leadership position by the Everest Group reflects our ability to leverage industry best processes and best of breed cloud based platforms, while armed with an innovation mindset," said Abid Ali Neemuchwala, Global Head, Business Process Services at TCS. "Customers are looking for partners to optimize their working capital, to ensure procurement compliance and to gain predictive analytics and insights. TCS' market leading capabilities in addressing these needs is helping customers be more competitive in their industries."
Across the globe, CFOs and procurement heads are seeking to leverage supplier and category intelligence, reduce Days Sales Outstanding (DSO) and optimize the Days Payable Outstanding (DPO), to simplify expense management and payables processes, and enhance decision making through analytics. TCS' FORE™ simplification methodology, its Robotic Process Automation framework, TRAPEZE™ solution accelerators and cloud platforms enable enterprises to realize these expectations. TCS ensures customers can attain best-in-class P2P processes and create a launchpad for meeting their business growth, agility and compliance objectives.
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 $1.6 billion in BPS revenues and 60,000+ employees across 17 countries delivering services to over 275+ 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 310,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $13.4 billion for year ended March 31, 2014 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
SOURCE Tata Consultancy Services