Jun 28, 2019   SOURCE: PR NewsWire

TCS Positioned as a Leader and Star Performer in Finance and Accounting Outsourcing by Everest Group

NEW YORK and MUMBAI, India, June 28, 2019 /PRNewswire/ -- 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 Everest Group's PEAK Matrix(TM) for Finance and Accounting Outsourcing (FAO) Services(1).

TCS received the highest overall buyer satisfaction score among all the providers listed in the report. Cited as a key strength was its Machine First(TM) Delivery Model (MFDM(TM)), a framework coupled with digital levers such as automation, analytics, and Al that enhance business outcomes. The report also highlighted TCS' strong ecosystem of digital solutions that leverage both in-house tools (such as ignio(TM) for Al and TAP(TM) for accounts payable) as well as third-party RPA providers.

"In a Business 4.0(TM) world, CFOs play a pivotal role in strategy formulation and the reimagination of the finance function with digital technologies such as artificial intelligence, cloud, intelligent automation and analytics, to realize superior business outcomes, minimize enterprise risks, and ensure regulatory compliance," said Ashok Pai, Global Head, Cognitive Business Operations (CBO), TCS. "This recognition is a testament of our vision, investments, capabilities and market success across the finance and accounting value chain."

TCS' CBO unit caters to CXO's transformational needs by taking responsibility for entire slices of enterprise operations, including process delivery, application services and the underlying IT infrastructure, and delivers superior business outcomes by engaging with all stakeholders and driving holistic Machine First(TM) transformation leveraging cloud, analytics, IoT, machine learning, AI, and RPA throughout the operational stack.

TCS' comprehensive portfolio of services and solutions helps enterprises leverage the power of digital technologies to shape the future of finance and accounting operations. It has also formed strategic alliances with leading product and technology providers for technologically-advanced solutions. Key Finance and Accounting offerings include:

    --  MFDM(TM) to enable touch-less procure-to-pay, 'perfect order' in the
        order-to-cash cycle and 'predictive close' in the record-to-report
        processes to deliver superior business outcomes.
    --  ignio Insights-as-a-Service to deliver real-time and granular
        intelligence for strategic insights.
    --  Personalization with predictive insights for users: Readily deployable
        persona enabled CFO dashboards and chatbots for Procure to Pay (P2P) and
        O2C.
    --  Blockchain solution for CFOs to implement consensus and governance
        mechanisms to enhance key finance-based processes.
    --  BPaaS solutions leveraging in-house platforms such as TRAPEZE(TM), TAP
        as well as Third party platforms.
    --  Strategy and execution support for mergers, acquisitions and
        divestitures, offered as managed services.
    --  Framework to drive Global In-House Center (Captive) transformation
        across industries and regions.
    --  Enhanced compliance in P2P, Contract to Cash (C2C), Record to Analyze
        (R2A), and T&E Policies to provide superior control on fraud and embrace
        risk.

"TCS has made a significant investment in revamping its operating model and enhancing its next-generation digital capabilities. It has developed its proprietary Machine First Delivery Model (MFDM(TM)) and leverages a suite of digital solutions, including TAP(TM )(a cloud-based accounts payable platform), ignio(TM )(cognitive intelligence platform), and Trapeze(TM )(end-to-end F&A suite of tools), in conjunction with other third-party tools to deliver enhanced business value to its clients. These investments have led to high satisfaction levels of its clients," stated Shirley Hung, Vice President, Everest Group.

"Our investments in innovation and intellectual property, our digital technology expertise, and contextual and domain knowledge, make us the preferred partner for progressive CFOs seeking to accelerate their transformation journey and orchestrating their shift to digital," 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 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 424,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019, 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.

TCS media contacts: 



            Asia Pacific         
            Email: charlene.lee@tcs.com

                                  
            Phone: +65 9138 4370

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             Australia and New
              Zealand             
            Email: kelly.ryan@tcs.com

                                  
            Phone: +61 422 989 682

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            Benelux              
            Email: joost.galema@tcs.com

                                  
            Phone: +31 615 903387

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            Central Europe       
            Email: anke.maibach@tcs.com

                                  
            Phone: + 49 172 6615789

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            Europe               
            Email: mattias.afgeijerstam@tcs.com

                                  
            Phone: +46 723 989 188

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            India                
            Email: arushie.sinha@tcs.com

                                  
            Phone: +91 22 6778 9960

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            Japan                
            Email: douglas.foote@tcs.com

                                  
            Phone: +81 80 2115 0989

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            Latin America        
            Email: martin.karich@tcs.com

                                  
            Phone: +569 6170 9013

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            Nordics              
            Email: roland.bagen@tcs.com

                                  
            Phone: +46703178024

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            UK                   
            Email:  peter.devery@tcs.com
                                  Phone: +44 20 3155 2421

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            USA / Canada         
            Email: b.trounson@tcs.com
                                  Phone: +1 646 313 4594

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(1) Finance and Accounting Outsourcing (FAO) - Service Provider Landscape with Services PEAK Matrix(TM) Assessment 2019, Rajesh Ranjan, Shirley Hung, Vignesh Kannan, Abhishek Singh, Everest Group, March 2019

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SOURCE Tata Consultancy Services