Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, today announced that it has been recognized as a ‘Leader’ in Procure-to-Pay (P2P) outsourcing by Everest Group in its report, 'Procure-to-Pay Outsourcing – Service Provider Landscape with PEAK MatrixTM Assessment 2014,' October 2014.
The Everest Group report analyzed 30 service providers using its Performance, Experience, Ability and Knowledge (PEAK) Matrix for P2P Outsourcing. Everest also analyzed service provider capabilities across multiple dimensions, including market success, scale, scope, technology capability, delivery footprint, and client satisfaction. The service providers are divided into three categories based on performance: Leaders, Major Contenders and Emerging Players. TCS’ position as a Leader was driven by its strong industry domain knowledge, solution accelerators and wide portolio of offerings.
“TCS’ recognition is due to its strong delivery capability enabled by process expertise, technological investments in terms of platform and automation along with an analytics-driven approach,” said Rajesh Ranjan, Partner and Head, BPS Research, Everest Group. “This has helped TCS succeed in the market place and acquire a diversified client portfolio.”
“Our P2P leadership position by the Everest Group reflects our ability to leverage industry best processes and best of breed cloud based platforms, while armed with an innovation mindset,”said Abid Ali Neemuchwala, Global Head, Business Process Services at TCS. “Customers are looking for partners to optimize their working capital, to ensure procurement compliance and to gain predictive analytics and insights. TCS’ market leading capabilities in addressing these needs is helping customers be more competitive in their industries.”
Across the globe, CFOs and procurement heads are seeking to leverage supplier and category intelligence, reduce Days Sales Outstanding (DSO) and optimize the Days Payable Outstanding (DPO), to simplify expense management and payables processes, and enhance decision making through analytics. TCS’ FORE™ simplification methodology, its Robotic Process Automation framework, TRAPEZE™ solution accelerators and cloud platforms enable enterprises to realize these expectations. TCS ensures customers can attain best-in-class P2P processes and create a launchpad for meeting their business growth, agility and compliance objectives.