Tata Consultancy Services' F&A platform to ensure on-time accounting for SAS, Europe's most punctual airline

STOCKHOLM, July 17, 2012 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced that it has entered into a multi-year agreement with Scandinavian Airlines (SAS), wherein SAS will adopt TCS' Finance and Accounting (F&A) platform for its operations across 30+ countries. Founded in 1946, SAS is the Scandinavian region's largest airline and holds the reputation of being Europe's most punctual airline.

"The selected TCS platform addresses the key objectives SAS defined from the project's inception - to simplify, standardize and automate processes with one solution instead of multiple solutions, as well as to integrate best practices and drive productivity improvements. Additionally, TCS' experience with large scale strategic projects and the partnership based approach towards their customers was especially appealing to us,"said Hakan Borglund, Vice President Back Office Systems, SAS Group.

The agreement underscores TCS' non-linear growth strategy in key markets. The TCS F&A platform provides pre-built and pre-configured financial processes and tools, which make it an efficient and rapid solution to implement. It will be provisioned under a Cloud model including infrastructure, applications, IT maintenance and multiple platform developments over the duration of the engagement. The platform is designed to conform to the latest global statutory and legal norms, such as IFRS and GAAP.

"SAS is renowned for being the most punctual airline in Europe. The TCS' F&A Platform, with its metrics driven delivery model, will assure SAS of accuracy, timeliness and total control over its financial processes. We look forward to working with SAS and providing them the benefits of an industry leading solution that is enriched by our global best practices," said Raj Agrawal, Global Head of TCS Platform Solutions.

TCS' Nordic operations comprise over 4,500 professionals working across Sweden, Finland, Norway, Denmark and Iceland. TCS had recently been recognized by a KPMG survey of 340 top Nordic companies as the #1 company in terms of customer satisfaction for the third consecutive year.

"One of our defining values is to help customers lead change. We have been advising over 75 clients towards the evolution of their cloud strategies and helping them stay ahead of the curve in their industries. SAS' choice reconfirms the findings from TCS' 2012 cloud adoption study of over 600 large global companies, which concluded that the needs to standardize business operations and underlying applications along with flexibility are the two most significant drivers for cloud adoption," said Amit Bajaj, Head, Nordic and Baltic Region, TCS.

About SAS Scandinavian Airlines

SAS Scandinavian Airlines is Northern Europe's leading airline with almost 700 daily flights to close to 100 destinations in Scandinavia, Europe, the U.S. and Asia. SAS offers a wide range of innovative travel solutions in order to make customers' travel as time efficient and smooth as possible. SAS is also Europe's most punctual airline for the third year in a row. For more information, please see: www.sasgroup.net.

About Tata Consultancy Services Ltd. (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India's largest industrial conglomerate, TCS has over 243, 000 of the world's best-trained consultants in 42 countries. The company generated consolidated revenues of US $10.17 billion for year ended March 31, 2012 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.

TCS Cloud Adoption study: www.tcs.com/cloudstudy

KPMG Survey: http://www.tcs.com/news_events/press_releases/Pages/Three-time_1_spot_client_satisfaction_TCS_Nordic_region.aspx

SOURCE Tata Consultancy Services