Tata Consultancy Services Leverages its Contextual and Domain Knowledge, and its AI-Driven Human-Machine Collaboration Suite Cognix to Help Customers Accelerate Innovation and Enhance Differentiation

NEW YORK: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been positioned as a Leader in the IDC MarketScape for Worldwide Finance and Accounting Business Process Services in the Cloud.

This IDC MarketScape study assesses current market demands and expected buyer needs for cloud-based finance and accounting-managed (outsourced) business process services and evaluates service providers offering cloud-based finance and accounting-managed (outsourced) business process services against a series of qualitative and quantitative parameters.

According to the report, “TCS has comprehensive, consulting-led finance and accounting services to support global organizations in transforming their finance operations to be data-driven, AI-powered, and cloud-enabled, helping them improve resiliency, gain the agility to lower their risks, improve cash, and respond better to the changing market dynamics and needs.”

“CFOs are responding to current macro-economic uncertainties and risks of a potential slowdown by redesigning organizational structures, deploying technologies like AI and cloud, strengthening financial planning and cash management while being focused on ESG and cost savings. TCS’ future-ready finance proposition powered by its AI-driven human-machine collaboration suite, Cognix, helps CFOs transform quickly and achieve their long-term business goals,” said Ashok Pai, Global Head, of Cognitive Business Operations, TCS. “We believe that our position as a Leader in this assessment is a reflection of our continued efforts to empower our customers with technologies to make them future-ready.”

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 as well as in-house platforms like TAP and HOBS.

TCS helps finance organizations reimagine their core functions of procure to pay, order to cash, and record to report by moving them to a standardized, automated, and data-driven operating model that delivers enhanced efficiencies, speed, compliance, and cost savings while enabling seamless period-end closures. Its strategic finance offerings like financial planning and analysis, cash and liquidity management, tax compliance, and treasury, supported by AI-powered predictive models, enable agile and data-driven decision-making and enhance enterprise resilience.

In addition to generic finance and accounting services, TCS also offers industry-specific services. These include 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, inventory accounting for manufacturing, and meter to cash for utilities.

TCS Cognix, its AI-driven human-machine collaboration suite, accelerates the digital transformation agenda for its clients. 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. This 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.

“TCS has been named a Leader in this IDC MarketScape on Finance and Accounting Business Process Services in the Cloud. TCS performed well across a multitude of metrics including their use of hybrid cloud models, investment, and vendor adoption of their own proprietary platforms such as TCS Cognix and BPaaS services, TCS Crystallus for Finance cloud (S/4HANA and Oracle) and TCS ConvertCore, and their analytics, cognitive/AI, and blockchain capabilities for finance,” said Ali Close, Manager of Intelligent Finance and Customer Care Business Process Services, IDC.

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NEW YORK: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been positioned as a Leader in two recently published reports: IDC MarketScape for Worldwide Manufacturing Service Life-Cycle Management Strategic Consulting and IDC MarketScape for Worldwide Manufacturing Service Life-Cycle Management Systems Integrators/ Business Process Outsourcing[1].

The report on Strategic Consulting said, “TCS has been able to work with clients to develop industry-specific IP, assets, and frameworks, which accelerate speed to market and business value. The breadth of functionality and services TCS has offered the market enables manufacturers to explore new business models and pathways to deliver a new set of services, products, and experiences to customers within the service life cycle.”

Highlighting TCS’ key strengths, the report on Systems Integrators/ Business Process Outsourcing said, “ TCS is able to leverage its COEs, which outnumber its peers in number to co-innovate with clients under TCS Pace and COIN and also accelerate its process improvements in the service life cycle. TCS’ ability to share best practices and success paths from adjacent industries enables the company to help manufacturers think outside their own niche markets to adopt to innovations and adapt to customer expectations, which shift at a rapid pace.”

“TCS leverages its contextual knowledge and expertise in IoT, analytics, and next-gen technologies to help manufacturers digitally transform their service life-cycle, embrace new business models, gain competitive differentiation and drive growth,” said Partha Reddy, Head, of Manufacturing, Energy & Resources, Americas, TCS. “This leadership position is a reflection of our strategy, capabilities, investments in innovation, and the resultant market success.”

TCS’ comprehensive suite of services and solutions including industry-specific consulting and advisory, implementation, and optimization services, helps leading manufacturers and service and aftersales organizations transform the end-to-end service lifecycle.

TCS transforms the customer service delivery process to improve the productivity and efficiency of service operations, drive revenue growth, address compliance requirements, and improve customer experience. Its SLM expertise spans servitization, connected products and services, subscriptions, and new business models, as well as traditional models of customer service, contact centers, warranty, and service contracts. Proprietary solutions include:

TCS Crystallus for Field Service is a set of preconfigured industry and business solutions that help enterprises reimagine their SAP landscape, mitigating business risks and disruptions.

TCS Manufacturing Industry solutions accelerator built on the Salesforce platform provides faster ROI and increases user adoption while optimizing time to market.

Further, TCS’ partnerships with niche and leading product and technology vendors, hyperscalers, and the startup ecosystem position it well to provide exceptional services and solutions to clients.

“Manufacturers and service organizations are in midst of a major shift in their businesses requiring them to be more agile, digital, and responsive to customer needs. The ability to deliver enhanced service experiences to customers in an unstable economic environment will be critical to success and growth. Digital transformation is the key enabler for the service business,” said Aly Pinder, Program Director, Service Innovation & Connected Products, IDC. “TCS’ industry domain, technology, and functional expertise as well as its track record of innovation in helping manufacturers evolve their aftermarket offerings, make it a Leader in Manufacturing Service Life-Cycle Management services.”

[1] IDC MarketScape: Worldwide Manufacturing Service Life-Cycle Management Strategic Consulting 2022–2023 Vendor Assessment (doc #US48840422, December 2022) and IDC MarketScape: Worldwide Manufacturing Service Life-Cycle Management Systems Integrators/ Business Process Outsourcing 2022–2023 Vendor Assessment, (Doc #US48840322, December 2022)

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