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TCS Recognized as a Leader in Finance and Accounting Digital Augmentation Suite by Everest Group

Tata Consultancy Services’ platforms for cloud, RPA, analytics, and automation and its AI-solution ignio™, cited as key differentiators

MUMBAI, September 21, 2018: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, has been positioned as a leader in the Everest Group PEAK Matrix™ for Finance and Accounting (F&A) Digital Augmentation Suite (DAS).[1]

Cited as a strength is TCS’ ecosystem of automation and analytics-driven solutions that spread across the entire F&A value chain. The report also highlights other key strengths including TCS’ TRAPEZE™ F&A platform that includes RPA, workflow, and analytics to drive end-to-end process, and enables touch-less processing.

“In a Business 4.0™ world, CFOs are reimagining the finance function, leveraging digital technologies such as artificial intelligence, machine learning, cloud, intelligent automation, and data analytics to improve outcomes, minimize enterprise risks, and ensure regulatory compliance in the F&A processes,” said Ashok Pai, Vice President and Global Head, Cognitive Business Operations (CBO), TCS. “This recognition in this assessment is a testament of our vision and strategy, innovation, strong portfolio of digital offerings, and our delivery capabilities.”

TCS’s CBO unit engages with forward thinking customers across the world with leading-edge, technology-led F&A solutions that reimagine business operations end to end, including the underlying IT systems and supporting infrastructure, and drive superior business outcomes. These solutions leverage AI, machine learning, IoT, cloud, analytics, computer vision, and RPA, while adopting Agile practices across Business Process Services, IT Infrastructure Services, and IT Operations.

Key F&A offerings and services include:

• Machine First Delivery Model (MFDM™) to enable touch-less procure-to-pay, ‘perfect order’ in the order-to-cash cycle and ‘predictive close’ in the record-to-report processes.
• ignio™ Insights as a Service to deliver real-time and granular operational intelligence for smarter business decisions.
• Cloud-based Platform, TAP™, (TCS Accounts Payables) for P2P, credit management, and analytics.
• TRAPEZE™ F&A Suite of Solutions including RPA and workflow and operational analytics to drive efficiency across end-to-end processes and enable effectiveness. 

 "Enterprises are looking for high-impact and integrated digital suites that can be implemented collectively to drive faster process transformation and in turn achieve significant business outcomes. TCS’ Business 4.0™ framework, its Machine First Delivery Model (MFDM™), investments in its cognitive intelligence platform ignio™, along with its multiple process-specific modular automation and analytics solutions, strengthen its position as a leader in F&A DAS,” said Vikas Gujral, Practice Director, Everest Group.

“Our innovative solutions in the Finance and Accounting domain, digital technology expertise, contextual knowledge, and investments in intellectual property, make us the preferred partner to progressive CFOs seeking to accelerate their digital 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 the last fifty years. TCS offers a consulting-led, Cognitive powered, integrated portfolio of IT, Business & Technology Services, and engineering. 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 400,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $19.09 billion for year ended March 31, 2018 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.

Challenge

Enterprises continue to grapple with macro-economic factors, competitive market pressures, and regulatory challenges. There is increasing expectation for the corporate Sales, General, and Administrative (SG&A) functions to evolve as strategic business entities driving growth rather than simply servicing needs. This has made it imperative for companies to reinvent their finance and accounting, HR, legal, customer service, and supply chain processes.

TCS Solution

TCS Enterprise Business Operations, led by our ValueBPS™ approach, encompass:

• Finance and Accounting (F&A) services across procure to pay, order to cash, and record to report. We help CFOs consolidate, standardize, and automate processes.

• Human Resource (HR) services to help you reconfigure HR processes, and run innovative employee engagement programs.

• Legal Process (LP) services for effective management of legal documents and workflows including contract management, litigation support, compliance and governance, and intellectual property services.

• Customer Experience Management (CEM) services to enable enhanced interaction with customers and maintain consistency across channels.

• Supply Chain Management (SCM) services that span strategic sourcing, contracts, supply chain planning and scheduling, inventory, sales orders, logistics fleets, warehouses, and aftermarket services.

Benefits

• F&A Services:

  • Reduce operating costs by >70%

  • Improve collections leading to $190 million of additional working capital

  • Increase cash flow and margins, and minimize revenue leakage

• CEM Services: Enable ~80% C-SAT score and optimize cost per call

• SCM Services: Reduce TAT by 60% and $80 million savings through improved efficiency

• HR Services: Enable automation for 100% accuracy and reduce TAT by 75%

• LP Services:

  • Significant savings through research and accurate billing

  • Savings through non-compliance findings