Tata Consultancy Services, known within the industry as TCS, finished the fourth quarter of 2014 as the apple of many analysts’ eyes. While Gartner, Inc. recognized TCS as a ‘Leader’ in its ‘Magic Quadrant for Oracle Application Implementation Services, TCS was also recognized as a ‘Star Performer’ and ‘Leader’ in Capital Markets BPO by Everest Group, and recognized as a ‘Leader’ in Procure-to-Pay (P2P) outsourcing by Everest Group in October. That same month, TCS also was acclaimed as a ‘Star Performer’ and ‘Leader’ in Banking BPO by Everest Group in its report, ‘Banking BPO – Service Provider Landscape with PEAK Matrix Assessment 2014.’
Gartner analysts note that providers designated as Leaders “are performing well today, gaining traction and mindshare in the market. They have a clear vision of the market’s direction and are actively building competencies to sustain their leadership position.” Gartner evaluated 14 service providers, including TCS, on their ability to execute and completeness of vision.
Everest Group analyzed the relative positioning of 17 service providers using its Performance, Experience, Ability, and Knowledge (PEAK) Matrix for Banking BPO and P2P, separately. Everest Group 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.
Sweeping Banking, Capital Markets, and P2P categories is no small feat. Typically firms excel in one niche, but it is less common to see BPO providers with such a strong feature set.
“Capital Markets BPO is one of the fastest growing industry-specific segments as financial institutions increasingly partner with third-party providers to manage their margin, regulatory, and risk considerations,” said Rajesh Ranjan, Partner and Head, Business Process Services (BPS), Everest Group. “Our assessment shows that TCS is responding very well to these market demands leveraging its operational and technology capabilities coupled with global delivery footprint.”
“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,” continued Ranjan. “This has helped TCS succeed in the marketplace and acquire a diversified client portfolio.”
Globally, investment bankers, wealth managers and brokerage houses continue to grapple with the higher capital requirements, shrinking spreads, regulatory burden and market volatility. TCS’ risk management, transformation methodology, solution accelerators and extensive analytics expertise, ensure that financial institutions have better compliance and controls, a roadmap to business excellence and predictability in business results.
On the other hand, when it comes to Procure-to-Pay, 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’ simplification methodology, its Robotic Process Automation framework, solution accelerators and cloud platforms enable enterprises to realize these expectations.
Globally, investment bankers, wealth managers and brokerage houses continue to grapple with the higher capital requirements, shrinking spreads, regulatory burden and market volatility.
“Being recognized as a Star Performer and Leader yet again is a reflection on our ability to help investment banks, brokerage houses and wealth managers simplify and re-imagine their processes to address today’s market conditions,” said Abid Ali Neemuchwala, Global Head, Business Process Services at TCS. “Our continued investment in operational and technology excellence helps global financial institutions assess and mitigate risk while creating a service differentiation that establishes them as business leaders.”
Mr. Ali Neemuchwala continued, “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. 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.”