SANTA CLARA, Calif. and MUMBAI, India, Dec. 7, 2017 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, has been recognized as a Leader and Star Performer in Everest Group's "Finance and Accounting (FAO) – Service Provider Landscape with PEAK Matrix™ Assessment 2017."1
"In a Business 4.0 world marked by the emergence of new business models, CFOs are re-imagining the finance function by embracing digital technologies to maximize business outcomes, minimize risks and ensure regulatory compliance," said Ashok Pai, Vice President and Global Head of Cognitive Business Operations, TCS. "This independent validation of our leadership is a testament to our strong digital capabilities, finance & accounting expertise, and customer centricity."
TCS provides leading edge Finance and Accounting services across the value chain. A key differentiator is its ValueBPS™ framework that helps consolidate, standardize and automate processes using analytics, RPA, cognitive technologies and Business Process as a Service (BPaaS) platforms to drive enhanced business outcomes for clients. Key highlights of the F&A services include:
- 'Touchless' procure-to-pay through deployment of cognitive technologies that enable straight through processing of transactions and minimize human intervention.
- 'Perfect order' in the order to cash cycle using automation and analytics to drive process perfection and eliminate rework in downstream billing, collections and cash application processes.
- 'Predictive close' in the record-to-report process through process simplification and automation of controls leading to enhanced controllership and better predictability in the closure of books.
In addition, TCS provides industry-specific services, including revenue accounting and fare filing for aviation, book to bill for shipping, inventory obsolescence for retail, and capital adequacy ratio reporting for banking.
"TCS has registered strong market success in a hyper-competitive FAO market, driven primarily by its laser focus on a partnership-led approach with its clients and its efforts to drive continuous process improvements. Going forward it should combine its vast industry experience and its ValueBPS™ framework to provide quicker transformative solutions for its clients," said Katrina Menzigian, Vice President, Research, Everest Group.
"With our strong digital capabilities, deep domain expertise, customer centric approach, investments in innovation and best in class F&A services, we are the partner of choice and trusted advisor for our customers in their journey to become real-time digital enterprises whose operations are intelligent, automated, agile, and on the cloud," added Ashok Pai.
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 389,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $17.6 billion for year ended March 31, 2017 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. For more information, visit us at www.tcs.com.
1 Everest Group Research, Finance and Accounting (FAO) – Service Provider Landscape with PEAK Matrix™ Assessment 2017, by Rajesh Ranjan, Katrina Menzigian, Vikas Gujral, Vignesh K. and Vishwas Saxena, November 2017.
SOURCE Tata Consultancy Services