Tata Consultancy Services’ F&A Services and Solutions Help CFOs Lower Risks, Improve Cash, Respond Accurately to Changing Market Dynamics and be Better Prepared for the Future
PRESS RELEASE
NEW YORK | MUMBAI, August 16, 2022: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been positioned as a Leader in the Gartner Magic Quadrant for Finance and Accounting BPO services.
The Gartner Magic Quadrant for Finance and Accounting BPO examines and analyses global finance and accounting providers over a set of defined parameters across their execution ability and completeness of vision.
“With the rise of disruptive technologies and new business models, the role of finance has moved beyond controls, compliance, and reporting to being a strategic business partner in organizational performance, strategy, innovation and the ESG agenda. TCS Cognix™ enables finance organizations to embrace digital technologies quickly, allowing them to fulfil their new set of responsibilities and unleash superior value creation along the way,” said Ashok Pai, Global Head, Cognitive Business Operations, TCS. “We believe, our position as a Leader in this assessment is a reflection of our vision and our continued investments in building innovative and differentiated solutions to cater to the evolving customer needs.”
TCS offers a consulting-led, comprehensive portfolio of finance and accounting services, powered by innovative digital solutions like TCS Cognix. TCS also provides BPaaS services for its customers by leveraging its partnerships with leading third-party platform providers and in-house platforms like TAP™.
TCS helps finance organizations reimagine their core functions of procure to pay, order to cash, and record to report by moving them to an automated, data-driven operating model that delivers enhanced efficiencies, speed, compliance and cost savings.
Its strategic finance offerings like financial planning and analysis, cash and liquidity management, and tax compliance powered by AI-led analytical models provide real-time intelligence for improved decision-making. This enables organizations to lower their risks, improve cash, respond accurately to changing market dynamics and be better prepared for the future
TCS’ industry-specific finance offerings cater to the inherent needs of finance and accounting requirements across industries. 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 are some examples of these.
Its innovative technology-led solution TCS Cognix, an AI-driven human-machine collaboration suite, accelerates clients’ digital transformation. Cognix has a vast library of business outcome-aligned digital solutions called Value Builders that are pre-built and contextualized based on TCS’ vast experience of running finance operations for customers over decades. Cognix also features a maturity assessment model that drives a systematic transformation approach enabling perpetual innovation.
Cognix combined with TCS’ contextual and domain know-how, and future-ready talent positions finance organizations well for accelerated innovation and differentiation in their journey towards a sustainable future.
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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 606,000 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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