SANTA CLARA, Calif. and MUMBAI, India, June 14, 2017 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, today announced that it has been recognized as a 'Strong Performer' in eProcurement Products by Forrester Research, Inc., a leading independent research company, in their report, "The Forrester Wave™: eProcurement, Q2 2017," authored by Duncan Jones, VP and Principal Analyst.
Forrester analyzed 12 top eProcurement product offerings with criteria such as requisition creation, approval, invoice processing, reporting, and supplier adoption.
The report cited TCS' strong focus on end-user usability, which is vital to drive wide adoption by employees' consent. It found that TCS TAP™, a proprietary cloud solution for procure-to-pay functions, handles all type of invoices, but is "particularly effective in automating three-way matching of high invoice volumes, due to its artificial-intelligence-powered engine for matching invoices with purchase order receipts." Furthermore, Forrester observed that TCS customers report significant reductions in invoice processing cost and lead times, and TCS TAP™ is a "particularly good option for large enterprises with shared services procurement or finance that want to improve control of employee procurement while also automating invoice processing."
"TCS TAP™ leverages technology to drive eProcurement automation and enables efficient processes for savings. We continue to invest and innovate to help customers transform their buying processes into modern, intelligent and touchless sources to pay," said Raj Agrawal, Global Head, TCS Platform Solutions. "We are pleased that TCS TAP™, in this evaluation, has been recognized by Forrester as a Strong Performer."
About Tata Consultancy Services TAP™
TAP™ is Tata Consultancy Services' proprietary cloud solution for procure-to-pay functions, enabling organizations to manage catalogs, requisitions, purchase orders, invoices, and payments. TAP™ brings digital levers with cloud, mobility, self-service, and embedded analytics. With pre-built integrations, TAP™ complements ERPs and enables shared services organizations to work efficiently. TAP™ delivers transformational value through digitization, standardization and consolidation of fragmented processes. Our customers benefit from reduced purchasing and invoice processing costs, improved user adoption, better enforcement of purchasing policies, and enhanced supplier collaboration. TAP™ accelerates transformation with ready-to-deploy modules and reduces TCO with transaction based pay-per-use pricing. For more information, visit https://www.tcs.com/tap-procure-to-pay.
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 387,000 of the world's best-trained consultants in 45 countries. The company generated consolidated revenues of US $17.58 billion for year ended March 31, 2017 and is listed on the BSE Limited and National Stock Exchange of India Limited. For more information, visit us at www.tcs.com.
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SOURCE Tata Consultancy Services