December 07, 2017
TCS recognised as a leader and star performer in finance and accounting services
TCS's key strengths include strong capabilities across finance and accounting value chain, strong automation capabilities and partnership-driven approach to deliver value to clients
SANTA CLARA | MUMBAI: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organisation, has been recognised 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 maximise business outcomes, minimise risks and ensure regulatory compliance,” said Ashok Pai, VP and global head, cognitive business operations, TCS. “This independent validation of our leadership is a testament to our strong digital capabilities, finance and accounting expertise, and customer centricity,” he added.
TCS provides leading-edge FAO services across the value chain. A key differentiator is its ValueBPS™ framework that helps consolidate, standardise 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 FAO services include:
- ‘Touchless’ procure-to-pay through the deployment of cognitive technologies that enable straight through processing of transactions and minimise 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 finance and accounting 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 Mr Pai.
1Everest 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.