TCS Recognized as a Leader in the Gartner® Magic Quadrant™ for Finance and Accounting Business Process Outsourcing

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 Leaderin 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 decisionmaking. 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.

Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 3392.95 as compared to the previous close of Rs. 3399.80. The total number of shares traded during the day was 22937 in over 3291 trades.

The stock hit an intraday high of Rs. 3413.50 and intraday low of 3387.80. The net turnover during the day was Rs. 77958006.00.

Source : Equity Bulls

Keywords

TataConsultancyServices INE467B01029 TCS Leader Gartner MagicQuadrant Finance Accounting BPOServices