TCS Recognized as Leader in Finance and Accounting Business Process Services by Everest Group
Report Cites TCS’ Revenue, Expansion and Solutions as Key Strengths
NEW YORK | MUMBAI, November 10, 2014: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, today announced it has been recognized as a ‘Leader’ and Star Performer’ in Finance and Accounting (F&A) Business Process Services (BPS) by Everest Group in its report, 'Finance and Accounting Outsourcing (FAO) – Service Provider Landscape PEAK Matrix™ Assessment 2014, August 2014.'
The report highlighted capabilities that earned TCS its Leaders position and Star Performer designation, including its high revenue growth and highest expansion in scale among competitors and platform-led solutions, in addition to TCS’ investments in Robotic Automation, Business Process as a Service (BPaaS) and Software as a Service (SaaS) as key strengths.
“TCS’ continued success in the marketplace along with advancements in delivery capabilities helped it achieve Leader and Star Performer recognitions,” said Rajesh Ranjan, Partner and Head, Business Process Services Research at Everest Group. “Its investments in automation and BPaaS, global reach and a robust transition methodology are helping TCS differentiate and position itself for future success.”
“TCS continues to set the benchmark for transformational F&A engagements, with its industry vertical expertise, analytics strength and state of the art investments in technology platforms and solution accelerators,” said Abid Ali Neemuchwala, Global Head, Business Process Services at TCS. “TCS is honored to be recognized as ‘Leader’ and ‘Star Performer’ in Everest Group’s F&A PEAK Matrix assessment and believes this to be an acknowledgement of the value we have delivered to our clients.”
The rapidly changing world has significantly increased the complexity of doing businesses for enterprises globally. Today’s enterprise CFO requires straight through processing for all transactional activities, mobile device based dashboards, analytics for agile decision making, social engagement with customers, and replacement of elaborate workflows to remain competitive. TCS’ FORE™ simplification methodology, its Robotic Process Automation framework and TRAPEZE™ solution accelerators enable CFO’s to realize this F&A vision today, allowing them to remain agile, reduce time, resources, and proactively manage risk, helping the CEO meet strategic goals and achieve business growth.
Everest Group updated its classification of more than 20 service providers on its matrix of Performance | Experience | Ability | Knowledge (PEAK Matrix) for FAO. The PEAK Matrix is a framework that provides an objective, data-driven and comparative assessment of FAO service providers based on their absolute market success and delivery capability. The providers are classified as Leaders, Major Contenders or Emerging Players. Everest Group also identified four service providers as the “2014 FAO Market Star Performers” based on the strongest forward movement demonstrated on the PEAK Matrix year-on-year.
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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