Tata Consultancy Services - Experience certainty

The Finance function of the future will continue to be key in driving an organization's strategic agenda and play a far wider role than in the past. The function has evolved from providing governance on transactional financial processes, to providing strategic guidance to business leaders. This expansion of responsibilities gives the Finance function, headed by CFOs, an oversight of an organization'svision and priorities. Heads of Finance are expected to drive business growth by making their operations more agile.

Our research found that 95% of CFOs cited greater flexibility and agility as their top priorities, though costs continue to be an immediate goal for a substantial majority. Increased employee efficiency and productivity can help to reduce costs, but areas in an organization's business and finance operations limit the true potential of this effort.

To maximize an organization's potential, CFOs (the Finance Function) need tools, technology and processes that can drive outcomes - and these need to come together seamlessly to deliver sustained results. We believe that the digital five forces led by mobility and pervasive computing, big data and analytics, social media, cloud, artificial intelligence and robotics will help to catalyse change through business and process disruptions.

Finance and accounting services

TCS' finance and accounting services can elevate the role of the finance function in your organization.

TCS operates as an extended controllership arm providing finance and accounting services, and managing and executing finance functions spanning the following:

  • payable
  • receivable
  • general ledger
  • reporting and compliance
  • budgeting and forecasting.

TCS drives robust execution at an optimal cost, helps manage the fiscal and regulatory risks, and assists the business in accelerating growth.

TCS's FOREā„¢ methodology not only helps improve efficiency but also drives effectiveness through improved KPIs such as DSO and profit recovery.

Business value

Process improvements, leading to benefits greater than the annual contract value, such as the following:

  • up to 60% reduction in the chart of accounts leading to reduction in the closing month-end cycle by 10%
  • up to 30% improvement in efficiency over the life of the contract through continuous improvement and lean projects
  • up to 75% FTE reduction through automation
  • up to 80% reduction in turnaround times for order management.

Benefits

  • a single source of truth for your financial data, with improved and consistent reporting
  • faster financial closure
  • reduced reconciliation effort and improved receivables position
  • accelerated on-boarding by leveraging our pre-built content, pre-configured processes and pre-installed technology
  • a low TCO with minimal upfront investment as the platform comes at a cost-effective price payable on subscription basis
  • adherence to global and standard processes and accelerated response to legal changes
  • greater visibility of, and control over, operations through dashboards and analytical support.

Contact Details


Tata Consultancy Services Ltd
4th Floor 33 Grosvenor Place
London
SW1X 7HY
United Kingdom
+44 (0)20 7245 1800
bps.connect@tcs.com
www.tcs.com/fas
www.tcs.com/bps
www.tcs.com

Available White Papers

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Agility in financial services: white labelling to improve time to market for new products 02 February 2015 Customer purchasing patterns evolve with the economic climate. The changing dynamics of these patterns drive retailers to deliver additional choice, quality and value. Fast developing technology and evolving consumer behaviour are forcing organizations to innovate in their products and offerings to drive significant efficiency gain and consumer value.

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Certainty with analytics: mitigating credit risk in utilities 02 February 2015 The utilities industry faces a significant challenge with debt collections. A study conducted in the first half of 2013 revealed that more than five million households in the UK are in debt to their energy suppliers.

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Minimising default loss: an analytics powered risk rating model 02 February 2015 The recent economic downturn has resulted in a large number of loan and mortgage defaulters. Banks and financial institutions (FIs) need robust rating models for underwriting loans in this tenuous environment.

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Quantifying the economic benefits of application scoring for banks and financial institutions 02 February 2015 Lending institutions use application scoring to decide whether to grant credit to an applicant, determine the ceiling, and price the loan at the time of origination. This expedites the decision-making process and enhances profitability by measuring risk with increased accuracy.

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TCS comprehensive capital analysis and review (CCAR) services 02 February 2015 CCAR is a mandate set by the Federal Reserve following the recent phase of economic uncertainty under which Bank Holding Companies (BHCs) with over US$10 billion in assets have to review their capital plans before their final submission to the Federal Reserve. With TCS, BHCs benefit from a comprehensive framework across the value chain of CCAR compliance to ensure healthy capital planning and risk mitigation.

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