TORONTO | MUMBAI, December 27, 2016: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, today announced that VersaCold Logistics Services, Canada’s largest end-to-end supply chain solutions company for temperature-sensitive products, has selected TAP™, TCS’ procure to pay cloud solution, to manage their operating costs with greater efficiency. The solution includes Catalogs, Requisitions, Purchase Orders, and Invoices, plus Supplier Management and Self-Service.
As part of its ongoing transformation as a leading global and Canadian provider of temperature sensitive solutions, VersaCold is investing in providing greater value to its customers, while also focusing on operating efficiency. With increased complexity and growing demands from its customers for greater services and information availability, VersaCold began its transformation three years ago. The Procure to Pay (P2P) process within VersaCold had been reviewed as part of an overall process review, resulting in a decision to deploy an automated P2P solution. VersaCold selected TAP™ to consolidate the entire procure to pay process on a single platform to simplify the buying process for business users. The solution will also eliminate paper trails, leading to improved visibility, while enabling deeper collaboration with suppliers.
“We selected TAP™ to move towards transformed and unified procure to pay (P2P), needing a solution that not only caters to our immediate business priorities, but can be scaled up to serve business growth and extended to optimize upstream processes,” said Bala Puvitharan, Senior Vice President and Chief Information Officer, VersaCold. “The transformation with TAP™ will simplify our entire P2P process, digitize and ensure easy tracking to achieve effective communication between users and significantly improve user satisfaction and productivity.”
“We are privileged to help VersaCold transform their procure to pay function, reflecting the trend of Canadian businesses that are constantly evaluating opportunities to innovate and drive efficiencies,” added Soumen Roy, Country Head, Canada. “TCS Canada is increasingly helping customers to leverage digital technologies to re-imagine business processes and drive performance with innovative cloud based solutions such as TAP™.”
Traditional procure to pay (P2P) functions are paper intensive, manually operated with low automation, and complex with low user adoption, resulting in productivity challenges and poor spend visibility. However, the P2P function is experiencing great momentum with increased focus and innovation, opening up promising opportunities to transform operations.