20 July 2012, Mumbai
IT major Tata Consultancy Services has been designated as a leader in Finance & Accounting Outsourcing in the Everest Group Peak Matrix. Among the attributes that earned TCS the prominent position are robust growth in new client wins and renewals, coupled with continuous investments in process and technology capabilities.
The lead position has been published in the FAO (Finance & Accounting Outsourcing) Service Provider Landscape – Survival and Growth in the Crowded FAO Market, June issue.
In the report, the Everest group has analysed the position of 20 plus service providers on the Everest group performance, experience, ability and knowledge (PEAK) matrix for FAO. These service providers are divided into three categories based on their performance: leaders, major contenders, and emerging players.
The Everest group also identified five service providers, including TCS, as the ‘2012 FAO Market Star Performers’ based on the strongest forward movement demonstrated on the Peak Matrix year-on-year.
“TCS has made strong and smart investments in technology-led and industry-specific solutions backed by a robust and expanding global delivery model. Further, successful relationships with existing clients aided in robust contracts expansion and renewal activity. Consequently, TCS transitioned from a major contender to a leader in 2012,” said Mr Saurabh Gupta, Vice President, Everest Group.