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Tata Consultancy Services’ Substantial Investments in IP Such as TCS MFDM™, TCS Cognix™, as well as its Partner Ecosystem and Talent, Were Highlighted as Key Strengths
PRESS RELEASE
NEW YORK | MUMBAI, May 25, 2023: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been recognized as a Leader in Everest Group’s PEAK Matrix® for Intelligent Process Automation (IPA) Solutions, for the third consecutive year[1].
The report highlighted TCS’ transformation approach and wide range of solutions that leverage its Machine First™ Delivery Model (MFDM™), integrated operations, and partner ecosystem. Highlighted as a key strength is TCS Cognix™, its AI-driven human-machine collaboration suite, which leverages multiple technologies to help enterprises achieve their desired business goals. TCS’ sustainability solutions leveraging AI/ ML technologies to track the enterprise’s Sustainable Development Goals were also cited as strengths. According to the report, customers lauded TCS’ breadth of talent, strong internal COEs, partnership ecosystem and customer objective alignment.
“Progressive enterprises are adopting an AI-powered intelligent automation approach to seamlessly integrate the latest technology with data and operations, to accelerate the digital transformation agenda,” said Ashok Pai, Global Head, Cognitive Business Operations, TCS. “Our leadership position in this report reflects our vision to build resilient, future-ready enterprises through sustainable digital transformation.”
TCS’ IPA offerings cover enterprise business process automation across consulting, assessments, solutioning, implementation and support. These offerings provide scale and speed to customers’ automation programs utilizing both proprietary and partner solutions. They leverage TCS MFDM which gives technology the first right of refusal and augments human capabilities. MFDM’s future-proof architecture helps enterprises leverage the power of all technologies, from robotic to cognitive processing, to enable superior business outcomes.
TCS MFDM is operationalized through Cognix. Cognix unlocks the immense value that lies at the intersection of business process, IT infrastructure, and applications layer and orchestrates the digital technology ecosystem. It contextualizes solutions by harnessing knowhow from the vast expanse of customer operations. Cognix helps realize a configurable enterprise enabling organizations to achieve a competitive edge through cognitive operations.
TCS has built proprietary IPA capabilities in maturity assessments, benchmarking, process mining, generative and conversational AI, intelligent document processing, and AI-based recommendations/decision systems, sustainability, citizen development, workflow processing and API integration. These IPA solutions are designed to cater to all stakeholders and multiple process areas such as finance and accounting, procurement, HR, supply chain, customer experience. The solutions also cater to industry-specific processes like customer retention in telecom, meter to cash in utilities, warranty claims in insurance, pharmacovigilance in life sciences and product onboarding in retail.
[1] Advanced Analytics and Insights (AA&I) Services PEAK Matrix® Assessment 2023, Vishal Gupta, Everest Group, 7 February 2023
ABOUT TATA CONSULTANCY SERVICES (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 over 50 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 613,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, 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 MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com
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