VersaCold Logistics Services Selects TCS TAP™ for Procure to Pay Transformation
TORONTO | MUMBAI, December 27, 2016: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, today announced that VersaCold Logistics Services, Canada’s largest end-to-end supply chain solutions company for temperature-sensitive products, has selected TAP™, TCS’ procure to pay cloud solution, to manage their operating costs with greater efficiency. The solution includes Catalogs, Requisitions, Purchase Orders, and Invoices, plus Supplier Management and Self-Service.
As part of its ongoing transformation as a leading global and Canadian provider of temperature sensitive solutions, VersaCold is investing in providing greater value to its customers, while also focusing on operating efficiency. With increased complexity and growing demands from its customers for greater services and information availability, VersaCold began its transformation three years ago. The Procure to Pay (P2P) process within VersaCold had been reviewed as part of an overall process review, resulting in a decision to deploy an automated P2P solution. VersaCold selected TAP™ to consolidate the entire procure to pay process on a single platform to simplify the buying process for business users. The solution will also eliminate paper trails, leading to improved visibility, while enabling deeper collaboration with suppliers.
“We selected TAP™ to move towards transformed and unified procure to pay (P2P), needing a solution that not only caters to our immediate business priorities, but can be scaled up to serve business growth and extended to optimize upstream processes,” said Bala Puvitharan, Senior Vice President and Chief Information Officer, VersaCold. “The transformation with TAP™ will simplify our entire P2P process, digitize and ensure easy tracking to achieve effective communication between users and significantly improve user satisfaction and productivity.”
"We are privileged to help VersaCold transform their procure to pay function, reflecting the trend of Canadian businesses that are constantly evaluating opportunities to innovate and drive efficiencies,” added Soumen Roy, Country Head, TCS, Canada. “TCS Canada is increasingly helping customers to leverage digital technologies to re-imagine business processes and drive performance with innovative cloud based solutions such as TAP™.”
Traditional procure to pay (P2P) functions are paper intensive, manually operated with low automation, and complex with low user adoption, resulting in productivity challenges and poor spend visibility. However, the P2P function is experiencing great momentum with increased focus and innovation, opening up promising opportunities to transform operations.
VersaCold is Canada’s largest supply chain solutions company focused exclusively on the handling of temperature sensitive products. VersaCold delivers a suite of fully integrated logistics services through its national network of industry leading facilities, transportation fleet and advanced technologies that set the benchmark for accessibility, information visualization, real-time tracking and inventory management. VersaCold is proud to play a key role in ensuring the integrity, quality and freshness of some of North America’s most beloved food brands – protecting the health and wellness of families from east to west coast – through exceptional food safety and cold-chain quality assurance. Empowered by its commitment to exceptional service, performance driven culture and dedicated focus on continuous innovation, VersaCold is a trusted and valued partner to its clients – enabling business strategies and revenue growth within highly sensitive and regulated environments. For more information about VersaCold Logistics Services, please visit www.versacold.com
TAP™ is Tata Consultancy Services’ proprietary cloud solution for procure-to-pay functions, enabling organizations to manage catalogs, requisitions, purchase orders, invoices, and payments. TAP™ brings digital levers with cloud, mobility, self-service, and embedded analytics. With pre-built integrations, TAP™ complements ERPs and enables shared services organizations to work efficiently. TAP™ delivers transformational value through digitization, standardization and consolidation of fragmented processes. Our customers benefit from reduced purchasing and invoice processing costs, improved user adoption, better enforcement of purchasing policies, and enhanced supplier collaboration. TAP™ accelerates transformation with ready-to-deploy modules and reduces TCO with transaction based pay-per-use pricing.
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™ (GNDM), recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 387,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $17.58 billion for year ended March 31, 2017 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. For more information, visit us at www.tcs.com
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