TCS Finance and Accounting Services
Improve cashflow, mitigate risks, and drive enhanced value with finance and accounting services powered by TCS Cognix™, our AI-driven human-machine collaboration suite
Services
Cognitive Business Operations
Unlock Business Agility and Future-ready Operations with TCS
Highlights
- Chief financial officers (CFOs) today play a central role in shaping organizational strategy, driving strategic innovation, and formulating an enterprise’s growth and transformation agenda.
- TCS Finance and Accounting Services, powered by our proprietary AI-driven human-machine collaboration suite TCS CognixTM, enables CFOs to unlock exponential value realization.
- With our comprehensive portfolio of F&A services, unique consultative approach, and technology and operations expertise, we enable CFOs to drive cost savings, cash flow, and business growth.
In this article
Overview
CFOs today play a central role in driving organizational strategy, strategic innovation, and an enterprise’s growth and transformation agenda.
Finance leaders' roles and priorities have evolved from traditional bookkeeping to becoming strategic business partners responsible for driving their organizations' cost, innovation, and growth imperatives.
To meet these evolving goals, finance functions need to be augmented with digital capabilities that enable frictionless operations and provide smart insights for real-time decision making. Those that can embrace digital technologies at pace will be able to stay ahead of the curve and drive market differentiation.
Solution
TCS Finance and Accounting Services cover end-to end finance and accounting services across the finance value chain.
TCS Finance and Accounting Services, a comprehensive suite of finance and accounting services, helps enterprises quickly transform their finance operating model by leveraging the power of digital technologies. It leverages TCS Cognix™, our AI-driven human-machine collaboration suite, which offers a library of digital solutions to automate tasks, improve process visibility with intelligent and real-time insights to improve cashflow and respond quickly and accurately to changing market dynamics.
Built on our consulting-led approach, technology expertise, and contextual know-how, our end-to-end finance and accounting services include:
- Order to cash: We help organizations improve their profitability and experience by optimizing and transforming the order to cash operating model with the power of digital. Our services include quote and contract management, customer master data management, order management and fulfilment, credit risk analysis, charge validation and invoicing, collections and dispute management, cash application, reporting, and insights.
- Procure to pay: Our end-to-end services powered by AI and robust ERP integration solutions enable efficient and seamless processing for improved cashflow visibility, cost saving, and risk mitigation. Our services cover vendor data management, catalog management, invoice processing, master data management, and travel and expense management.
- Record to report: We provide extensive record-to-report services, focusing on driving predictability in closure of books, providing strategic insights, and enabling quick decision making. Our services encompass journal entries and accruals, reconciliation, month-end close, inter-company accounting, consolidation, treasury accounting, leasing, and capital budgeting.
- Financial planning and analysis (FP&A): Leveraging AI-powered advanced models for forecasting, our FP&A services help enterprises with data-driven decision making and empower them to build resilience. Our services include cost analysis, strategic planning, budgeting and forecasting, detailed planning models for opex, capex, profitability, and cost management.
- Strategic finance offerings: With these, we help finance functions improve their financial management, mitigate risks, and enhance strategic decision making through data-driven insights. Our offerings include audit support, Sarbanes-Oxley Act (SOX) compliance support, treasury support, taxation accounting, and value-added tax (VAT) accounting and reporting.
- Industry-specific finance: We also cater to the accounting needs of specific industries with services such as trust and equity accounting for financial services, revenue cycle management for healthcare, passenger and cargo revenue accounting for travel and transportation, store accounting for retail, and meter to cash for utilities.
- ESG for finance: We assist CFOs in understanding intricate energy performance factors and facilitate the adoption of carbon neutral strategies and tracking of ESG data across financial and investment portfolios. Through these, we help finance organizations meet their ESG-related goals.
- CFO & Global Business Services (GBS) advisory services: Some of our key advisory services include finance risk and controls, working capital optimization, cash flow improvement, forecast improvement, planning and analytics, financial close optimization, revenue cycle improvement, and GBS advisory services.
Benefits
Make your finance operations future-ready with TCS’ consulting-led services.
With TCS Finance and Accounting Services, enterprises can:
- Build a world-class, future-ready finance function.
- Get on-demand, real-time, predictive, and intelligent insights for strategic decision making and accelerated value realization.
- Improve working capital and cashflow.
- Deliver operational effectiveness and cost efficiency.
- Improve regulatory compliance.
- Empower finance leaders to increase their influence as strategic partners to business.
- Design a fit-for-purpose transformation journey aligned to business goals.
- Drive their sustainability agenda through transparent and accurate ESG reporting and insights.
The TCS advantage
A partnership with TCS gives finance organizations the advantage to reimagine their finance operations to deliver exponential business outcomes.
- Robust research and innovation: Our investments in research and innovation and new technologies such as generative AI position us well to deliver technology-led innovation for enterprises, helping them differentiate themselves for sustained market success.
- TCS Cognix™ powered accelerated digital transformation: TCS Cognix™, our AI-driven human machine collaboration suite, has been a game changer, enabling business transformations at speed. Companies can make the most of its ever-expanding library of pre-built digital solutions applicable across the finance value chain to accelerate their digital transformations and achieve the desired business outcomes.
- Deep industry and contextual knowledge: Our deep domain expertise and contextual know-how enable us to craft unique, high-impact solutions that are fit for our clients’ businesses.
- Future-ready talent pool: We are continually investing in talent development and competency building across popular and relevant technologies such as AI and generative AI.