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India's largest IT firm Tata Consultancy Services (TCS) said on Tuesday it has been positioned as a leader in the Gartner Magic Quadrant for finance and accounting Business Process Outsourcing (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," Ashok Pai, Global Head, Cognitive Business Operations, TCS, said in a statement. "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," Pai said. 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 organisations 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 organisations 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, according to a statement released by TCS. (ANI)
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