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TCS Named a Leader and Star Performer in Finance & Accounting Services by Everest Group

Posted On: 2020-10-28 05:45:21

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been positioned as a Leader and Star Performer in the Everest Group PEAK Matrix® for Finance and Accounting Outsourcing (FAO) Services1.

According to the report, TCS has a strong vision and roadmap for a Configurable Enterprise - realized through TCS CogniX™, that helps bring together an ecosystem of pre-built solutions for accelerating digital transformation. It highlights TCS' end-to-end F&A portfolio, strong digital ecosystem, AI and advanced analytics, BPaaS and process mining capabilities, underpinned by strategic partnerships as key strengths.

The report says that TCS has developed new modular offerings in areas such as forecasting and scenario modeling, FP&A intelligent insights, and cost and cash optimization that have quicker time to value and bring in visibility during business disruptions. TCS' frameworks such as Zero Touch Transitions and Secure Borderless Workspaces™ that help companies cater to the new normal, were also highlighted as strengths.

"CFOs today are playing a pivotal role in the growth and transformation agenda of enterprises. An AI driven human-machine collaboration that contextualizes, integrates and orchestrates multiple digital technologies can help CFOs build a purpose-driven, resilient and adaptable finance organization," said Ashok Pai, Global Head, Cognitive Business Operations, TCS. "Our leadership position in this assessment is a testament to our differentiated offerings with demonstrated ability to enable enterprises to gain competitive edge in the market."

TCS offers a comprehensive portfolio of consulting-led services across the finance and accounting value chain and leverages its Business 4.0™ thought leadership framework to enable touchless, intelligent, agile and digital finance operations that deliver superior business outcomes.

TCS recently launched CogniX™, an AI-driven human-machine collaboration suite, powered by its Machine First™ Delivery Model (MFDM™), that helps enterprises gain a competitive edge through cognitive operations. It contextualizes solutions to industries and harnesses knowhow from a vast expanse of customer operations to realize a Configurable Enterprise. CogniX™ helps enterprises ensure resiliency, adopt new business models with agility, embrace a culture of continuous innovation, deliver an enriched experience and gain exponential business value.

TCS CogniX™ for Finance orchestrates intelligent automation, advanced analytics, AI, cognitive business command centers and process mining, to improve working capital, optimize cash flow and enhance the experience for CFOs of leading enterprises across the globe. In addition, it leverages data mining-led smart controls and blockchain solutions for consensus and governance mechanisms that drive enhanced controllership. With its robust capabilities, backed by frameworks and TCS' vast experience, the solution helps drive captive transformation needs for customers.

"TCS has strengthened its position in the leader quadrant and has among the highest revenue growth on an absolute basis, helping it maintain its Star Performer status. It is one of the few global providers that has a significant presence in the APAC market as well," said Shirley Hung, Vice President, Everest Group. "TCS' ability to quickly pivot to new modular offerings and frameworks, such as Zero Touch Transitions and TCS Secured Borderless Workspace (SBWS™), positions it well to cater to the next normal's requirements."

"With our deep domain expertise, contextual knowledge of our customers' businesses, innovative new offerings, and configurable and modular solutions with pre-built accelerators and frameworks, we are well positioned to help progressive CFOs accelerate their companies' growth and transformation journeys," added Ashok Pai.

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2621.75 as compared to the previous close of Rs. 2631.45. The total number of shares traded during the day was 471923 in over 9654 trades.

The stock hit an intraday high of Rs. 2656.35 and intraday low of 2607.2. The net turnover during the day was Rs. 1237776051.

1 Finance and Accounting Outsourcing (FAO) - Service Provider Landscape with Services PEAK Matrix® Assessment 2020, Shirley Hung, Vignesh Kannan, Abhishek Singh, Sailee Ladole, Everest Group, September 9, 2020

Source: Equity Bulls

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