June 14, 2017
Tata Consultancy Services' TAP platform recognised as a strong performer in eProcurement
Independent research firm’s report cites focus on end-user usability and effectiveness in automating three-way matching of high invoice volumes
Santa Clara | Mumbai: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organisation, today announced that it has been recognised as a strong performer in eProcurement Products by Forrester Research, Inc., a leading independent research company, in their report titled The Forrester Wave™: eProcurement, Q2 2017, authored by Duncan Jones, VP and principal analyst.
Forrester analysed 12 top eProcurement product offerings with criteria such as requisition creation, approval, invoice processing, reporting and supplier adoption.
The report cited TCS’s strong focus on end-user usability, which is vital to drive wide adoption by employees’ consent. It found that TCS TAP™, a proprietary cloud solution for procure-to-pay functions, handles all type of invoices, but is “particularly effective in automating three-way matching of high invoice volumes due to its artificial-intelligence-powered engine for matching invoices with purchase order receipts.” Furthermore, Forrester observed that TCS’s customers report significant reductions in invoice processing cost and lead times, and TCS TAP™ is a “particularly good option for large enterprises with shared services procurement or finance that want to improve control of employee procurement while also automating invoice processing”.
“TCS TAP™ leverages technology to drive eProcurement automation and enables efficient processes for savings. We continue to invest and innovate to help customers transform their buying processes into modern, intelligent and touchless sources to pay,” said Raj Agrawal, global head, TCS Platform Solutions. “We are pleased that TCS TAP™, in this evaluation, has been recognised by Forrester as a Strong Performer,” added Mr Agrawal.