TCS Positioned as a Leader and Star Performer in Finance and Accounting Outsourcing by Everest Group
Tata Consultancy Services’ F&A Services and Solutions Help CFOs Lower Risks, Improve Cash, Respond Accurately to Changing Market Dynamics and be Better Prepared for the Future
Bhubaneswar: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been recognized as a Leader and Star Performer in Everest Group’s PEAK Matrix® for Finance and Accounting Outsourcing (FAO). TCS was named a Star Performer for demonstrating the most improvement year-on-year (YoY) over time on the PEAK Matrix.
The report states that TCS posted the highest YoY growth in FAO revenue among the Leaders, driven by large transformation deals and scope expansion in the areas of strategic F&A. The report also cites that TCS has received one of the highest client satisfaction scores and has been appreciated by clients for its transformation capabilities, collaborative approach, relationship management and proactiveness.
TCS’ strong digital ecosystem, process mining tools, consulting capabilities, and comprehensive offerings including its robust BPaaS capabilities have been cited as key strengths in this report. It further acknowledges TCS’ investments and efforts in enhancing its Cognix™ for F&A product suite and strengthening its industry-specific and FP&A offerings.
“The finance function is evolving into a strategic business team for their organizations, driving profitable growth and assuming a broader set of responsibilities linked to innovation, sustainability, and enterprise performance. Digital transformation is intrinsic to this, bringing in efficiency, insight, and value to the business. TCS is helping finance organizations across the globe lead this change by accelerating their digital transformation agenda using its AI-driven human-machine collaboration suite – Cognix,” said Ashok Pai, Global Head, Cognitive Business Operations, TCS. “Our leadership ranking in this assessment is a testament to our market success, and forward-looking vision aligned to the CFO imperative.”
TCS brings in a unique consultative approach to clients’ finance transformation needs by combining its technology and operations expertise, contextual know-how, proprietary platforms, partner ecosystem and future-ready talent pool to help them realize their goals. It helps finance organizations improve their efficiency, speed, and compliance by moving them to an automated, data-driven, cloud-enabled operating model through leverage of platforms and technologies like automation, AI, advanced analytics, blockchain.
TCS helps finance teams strengthen their resilience, improve financial performance, and respond quickly to changing market dynamics with its AI-powered strategic finance offerings around financial planning and analysis, cash and liquidity management, and tax compliance. It has built offerings to advise CFOs on ESG and support them in their broader ESG imperatives with a host of digitally-powered offerings in this space.
Powering this innovation for clients is TCS Cognix™, an AI-driven human-machine collaboration suite that brings in a progressive and differentiated approach to digital transformation. Cognix for Finance offers a comprehensive set of pre-built and contextualized digital solutions aligned to specific business challenges and objectives. For example, the CFO Financial Advantage tool provides CFOs and Controllers with real-time, intelligent insights on key financial metrics along with predictive insights for agile and smart financial decision making. These digital solutions can be easily plugged into an enterprise’s ecosystem to drive transformation at speed and scale. Cognix also has a maturity assessment and governance module to benchmark operation metrics and track movement towards best-in-class operations.
TCS has built its own proprietary platforms for finance such as its procure-to-pay platform TAP™ and revenue assurance platforms like TCS HOBS™. It also boasts of partnerships with leading platform and technology providers and has built industry-leading solutions to help CFOs with their strategic objectives.