MUMBAI, India, July 19, 2012 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced today that it has been designated as a Leader in Finance & Accounting Outsourcing (FAO) in the Everest Group PEAK Matrix, published in the FAO Service Provider Landscape – Survival and Growth in the Crowded FAO Market, June 2012. Among the attributes that earned TCS the prominent position are robust growth in new client wins and renewals coupled with continuous investments in process and technology capabilities.
In this report, Everest Group analyzed the position of 20+ service providers on 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. Everest Group also identified five service providers, including TCS, as the "2012 FAO Market Star Performers" based on the strongest forward movement demonstrated on the PEAK Matrix year-on-year.
"TCS is an established player in the FAO market and emerged as the 'Leader' on the Everest Group's 2012 PEAK Matrix for FAO. TCS has made strong and smart investments in technology-led and industry-specific solutions backed by a robust and expanding global delivery model. Further, successful relationships with existing clients aided in robust contracts expansion/renewal activity. Consequently, TCS transitioned from a Major Contender to a Leader in 2012. With this strong forward and upward movement on the PEAK Matrix in 2011, TCS also earned the status of a '2012 FAO Star Performer'," said Saurabh Gupta, Vice President, Everest Group.
"We are honored to receive recognition as a Leader in Finance & Accounting (F&A) Outsourcing from Everest Group. TCS places great value on providing its customers with transformational F&A offerings. This recognition from Everest Group affirms the quality and strength of our offerings on a global scale," said Abid Ali Z Neemuchwala, Vice President & Global Head of BPO for TCS. "As CFOs globally seek to enable profitable growth with robust risk management for their organizations, TCS' F&A Services are enabling them to meet their goals by addressing finance functions' efficiency, effectiveness and compliance all at the same time."
TCS' F&A services help CFOs and Controllers to create visibility and transparency around capital and assets by identifying, managing and mitigating risks and tightening budgeting and planning to meet and exceed performance expectations. TCS' FORE™ methodology is a process maturity assessment and transformation tool that is enabling organization to accelerate their journey towards business excellence by establishing a current process maturity baseline, identifying areas for target performance and recommending and implementing a roadmap to expand the role of controllership beyond execution and financial efficiency to a more strategic & proactive growth enabler.
About TCS BPO
Business Process Services (BPO) at TCS is about managing & executing business operations. Our domain expertise helps deliver core business processing across industries, analytics & 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 models such as Platform BPO which delivers process as a service. With over $ 1.1 B in BPO revenues and 40,000+ employees across 11 countries delivering services to over 200+ customers, TCS is one of the leading Global Domain based BPO providers.
About Tata Consultancy Services (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 238,500 of the world's best-trained consultants in 42 countries. The company generated consolidated revenues of US $10.17 billion for year ended March 31, 2012 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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