Agility and market readiness are essential for CFOs to be strategic partners

The chief finance officer (CFO) role is evolving toward being a value creator, providing data-driven insights across business functions to deliver value-based outcomes. CFOs continuously seek ways to improve liquidity positions, optimize costs, and integrate technology-enabled solutions to enhance revenue growth and bring transparency to finance and accounting (F&A) processes. TCS augmented its service portfolio, enabling CFOs to become change agents and transformation partners.

TCS is moving up the curve from being a cost optimizer to a growth and transformation partner

In our recent briefing, TCS showcased tremendous F&A business growth of approximately 20% over the last 12 to 18 months and explained how it is expanding its F&A service portfolio. Looking at the requirement of the finance function through the lens of CFOs, TCS has adopted a consult-to-operate model. TCS invests heavily in technology enablers such as blockchain, AI, deep learning, and metaverse powered by TCS Cognix to drive transformation across the F&A processes. It is streamlining the finance functions to make them more verticalized and enabling F&A functions to be more agile and transparent for the organizations.

TCS delivers impact across the F&A value chain through multiple facets—technology, talent, collaboration, and footprint expansion

TCS leverages its cognitive and integrated business operation model unifying the infrastructure and application base to advance its F&A domain-specific offerings, deliver on business outcomes, and drive end-to-end value propositions for finance leaders. With its industry-specialized offerings, market-ready talent, and geographic presence, TCS focuses on creating new avenues of value creation.

The modular ready-to-plug-and-play solution, Cognix, offers more than 200 deployable solutions cutting through the entire F&A value chain. Its AI-driven digital finance ecosystem suite accelerates process transformation with scale and speed while driving productivity. The three critical value builders are an AI-powered cash-flow command center, a month end cockpit, and an analytics-based intercompany mismatch tool. They give CFOs visibility into their liquidity positions, enable informed investment decision making, provide control over operations, integrate multisource documents, and identify white spaces driving business resilience.

TCS sees people as the key to building alliances with organizations. It focuses on making its talent future-ready through rigorous training programs in techno-functional areas to meet market requirements. It is training its F&A workforce on S/4HANA, HighRadius, BlackLine, blockchain, cybersecurity, and other technologies to build a pool of domain-specific technical know-how.

TCS collaborates with C-suites to co-innovate and co-create enterprise-specific business solutions. To drive immersive customer experience, it established innovation labs called “Tata Pace Port” across multiple locations, where executives can experience F&A solutions through VR and metaverse platforms.

Nearshoring delivery centers is a key success factor for TCS. It has 47 locations globally with more than 40,000 FTEs and plans to expand further. The worldwide presence enables TCS to localize experiences, increase speed to market, and remain agile.

The Bottom Line: Market leader TCS continuously pushes the boundaries of the F&A space; it has adopted a holistic approach to deliver value-based outcomes and growth.

TCS aims for CFOs to become strategic business transformation partners for enterprises. In our view, CFOs have a larger strategic role in delivering value and purpose-driven results. To support this, industry players lean toward end-to-end transformations rather than piecemeal and functional-based transformations. A portfolio of technologies combined with the right talent, customer focus, and localization of services is essential to unlocking the full opportunity across the F&A value chain.