TCS Named a Leader and Star Performer in Finance & Accounting Services by Everest Group.
Tata Consultancy Services' End-to-end F&A Solutions, Industry Specific Offerings, Machine First Delivery Model, Superior Digital Ecosystem, and Offerings and Frameworks for the New Normal, Cited as Key Strengths
Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been positioned as a Leader and Star Performer in the Everest Group PEAK Matrix for Finance and Accounting Outsourcing (FAO) Services1.
According to the report, TCS has a strong vision and roadmap for a Configurable Enterprise - realized through TCS CogniXTM, that helps bring together an ecosystem of pre-built solutions for accelerating digital transformation. It highlights TCS' end-to-end F&A portfolio, strong digital ecosystem, AI and advanced analytics, BPaaS and process mining capabilities, underpinned by strategic partnerships as key strengths.
The report says that TCS has developed new modular offerings in areas such as forecasting and scenario modeling, FP&A intelligent insights, and cost and cash optimization that have quicker time to value and bring in visibility during business disruptions. TCS' frameworks such as Zero Touch Transitions and Secure Borderless Workspaces that help companies cater to the new normal, were also highlighted as strengths.
'CFOs today are playing a pivotal role in the growth and transformation agenda of enterprises. An AI driven human-machine collaboration that contextualizes, integrates and orchestrates multiple digital technologies can help CFOs build a purpose-driven, resilient and adaptable finance organization,' said Ashok Pai, Global Head, Cognitive Business Operations, TCS. 'Our leadership position in this assessment is a testament to our differentiated offerings with demonstrated ability to enable enterprises to gain competitive edge in the market.'
TCS offers a comprehensive portfolio of consulting-led services across the finance and accounting value chain and leverages its Business 4.0 thought leadership framework to enable touchless, intelligent, agile and digital finance operations that deliver superior business outcomes.
TCS recently launched CogniXTM, an AI-driven human-machine collaboration suite, powered by its Machine First Delivery Model (MFDMTM), that helps enterprises gain a competitive edge through cognitive operations. It contextualizes solutions to industries and harnesses knowhow from a vast expanse of customer operations to realize a Configurable Enterprise. CogniX helps enterprises ensure resiliency, adopt new business models with agility, embrace a culture of continuous innovation, deliver an enriched experience and gain exponential business value.
TCS CogniX for Finance orchestrates intelligent automation, advanced analytics, AI, cognitive business command centers and process mining, to improve working capital, optimize cash flow and enhance the experience for CFOs of leading enterprises across the globe. In addition, it leverages data mining-led smart controls and blockchain solutions for consensus and governance mechanisms that drive enhanced controllership. With its robust capabilities, backed by frameworks and TCS' vast experience, the solution helps drive captive transformation needs for customers.
'TCS has strengthened its position in the leader quadrant and has among the highest revenue growth on an absolute basis, helping it maintain its Star Performer status. It is one of the few global providers that has a significant presence in the APAC market as well,' said Shirley Hung, Vice President, Everest Group. 'TCS' ability to quickly pivot to new modular offerings and frameworks, such as Zero Touch Transitions and TCS Secured Borderless Workspace (SBWS), positions it well to cater to the next normal's requirements.'
'With our deep domain expertise, contextual knowledge of our customers' businesses, innovative new offerings, and configurable and modular solutions with pre-built accelerators and frameworks, we are well positioned to help progressive CFOs accelerate their companies' growth and transformation journeys,' added Ashok Pai.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 453,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $22 billion in the fiscal year ended March 31, 2020, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
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1 Finance and Accounting Outsourcing (FAO) - Service Provider Landscape with Services PEAK Matrix Assessment 2020, Shirley Hung, Vignesh Kannan, Abhishek Singh, Sailee Ladole, Everest Group, September 9, 2020
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