TCS Recognized as a Leader in Banking Business Process Outsourcing (BPO) by Everest Group
Report cites TCS’ scale, dominant presence, customer satisfaction and strong analytics capabilities as key strengths
NEW YORK | MUMBAI, December 22, 2014: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, today announced that it has been recognized as a ‘Star Performer’ and ‘Leader’ in Banking BPO by Everest Group in its report, 'Banking BPO – Service Provider Landscape with PEAK Matrix™ Assessment 2014, October 2014'.
TCS’ positioning as a Leader is a result of its overall composite score on the back of its strong analytics capabilities, coupled with technology enabled services and dominant presence across all banking processes. Its designation as a Star Performer is based on its year-on-year movement on the PEAK Matrix.
The Everest Group report analyzed the relative positioning of 23 service providers using its Performance, Experience, Ability, and Knowledge (PEAK) Matrix for Banking BPO. Everest Group also analyzes service provider capabilities across multiple dimensions, including market success, scale, scope, technology capability, delivery footprint, and client satisfaction. The service providers are divided into three categories based on performance: Leaders, Major Contenders and Emerging Players.
“TCS' positioning as a Leader and Star Performer is a testament to its ability to continuously keep pace with the evolving demands in an increasingly digital and regulated Banking world,” said Rajesh Ranjan, Partner and Head, BPS Research, Everest Group. “Focused offerings in high growth areas such as analytics, risk management, and regulatory compliance underpinned by technology and delivery footprint investments helps it succeed in the market place.”
“It is exciting to again be recognized as a banking ‘Star Performer’ and a ‘Leader’ in by the Everest Group for Banking BPS thanks to our clients acknowledging the value we bring to their operations,” said Abid Ali Neemuchwala, Global Head, Business Process Services at TCS. “TCS partners with global leaders in banking to help them drive their simplification and digital re-imagination journeys. We continue to invest in building the expertise, industry platforms and solution accelerators, and creating innovative value propositions that help banks to accelerate growth, improve their customer experience and manage risks as their transform their business.”
Across the globe, banks are working towards improving customer experience, while managing regulatory pressures and increasing capital demands in a volatile economy. TCS BPS is helping banks achieve these objectives with its operational and technology excellence, and predictive and prescriptive analytics expertise, through utilization of TCS’ FORE™ simplification methodology, Robotic Process Automation framework, cloud platforms, analytics, and TRAPEZE™ solution.
About TCS Business Process Services (BPS)
Business Process Services (BPS) at TCS is about managing and executing business operations. Our domain expertise helps deliver core business processing across industries, analytics and insights and support processes such as accounting, HR and supply chain management. TCS partners with customers to accelerate co-transformation, and generates business value for customers through delivery excellence, risk management, and innovative models such as Platform BPS which delivers process as a service. With annual BPS revenues of greater than US$ 1.6 billion, TCS is one of the largest BPS providers with 60,000+ employees servicing 275+ customers across the globe.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™,recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 300,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $13.4 billion for year ended March 31, 2014 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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