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

Tata Consultancy Services' F&A Services Help CFOs Transform Their Finance Operations, Accelerating Enterprise-Wide Innovation and Enabling Superior Value Creation

PRESS RELEASE

NEW YORK | MUMBAI, August 21, 2023: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been positioned as a Leader in the Gartner Magic Quadrant for Finance and Accounting Business Process Outsourcing[1].

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 ability to execute and completeness of vision.

“CFOs are increasingly playing a key role in shaping the organization strategy, innovation, and competitive direction besides the continued focus on cost and ESG. Technology transformation is key to this, bringing-in operational efficiency and the right insights and foresights for growth. TCS, with its AI-driven product suite Cognix, is helping global CFOs successfully realize their finance transformation goals delivering significant speed and value realization,” said Ashok Pai, Global Head, Cognitive Business Operations, TCS. “We think our recognition as a Leader in this report is a testament to our market success and investments in building innovative and future-ready capabilities contextualized to our customers’ needs.”

TCS offers a consulting-led, comprehensive portfolio of finance and accounting services, powered by innovative digital solutions like TCS Cognix™. It helps organizations reimagine their core F&A 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 a seamless period-end closure. Its strategic finance offerings like financial planning and analysis, cash and liquidity management, tax compliance and treasury are well geared to drive business growth and resilience.

In addition, TCS also offers industry-specific finance and accounting offerings to cater to the specific nuances of industries. 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. It has a host of pre-built and contextualized digital solutions aligned to specific business challenges and goals of CFOs. For instance, the CFO Financial Advantage tool equips CFOs and Controllers with real-time, intelligent and predictive insights on key financial metrics enabling smart decision making. Additionally, Cognix features a maturity assessment model that delivers a systematic transformation roadmap for clients based on their current maturity and transformation goals.

Disclaimer: Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s Research & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.

[1] Gartner, Magic Quadrant for Finance and Accounting Business Process Outsourcing, Sanjay Champaneri, Geraldine Garaud, Jan Ambergen, 10 May 2023

ABOUT TATA CONSULTANCY SERVICES (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 55 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 615,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $27.9 billion in the fiscal year ended March 31, 2023, and is listed on the BSE and the NSE in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com

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