New Delhi – 28th March, 2023:
Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services and solutions, today announced the launch of AceFin™, a cognitive AI-based Business Process-as-a-Service (BPaaS) solution designed to provide actionable insights (tactical & strategic) for Chief Finance Officers (CFOs). The solution integrates data sources from various IT systems ensuring “Single Source of Truth” that enables timely decision making and maintenance of best-in-class standards in the finance function.
AceFin™ will support CFOs in tracking company-wide financial and productivity metrics across business units and geographies. The solution will enable area-specific deep dives and drilldowns into any business area or process. AceFin™ capabilities will allow CFOs with end-to-end finance insights through greater visibility, and accessibility by bringing together various finance data elements in real-time. The solution will empower CFOs and their teams to stay on top of problems across business functions and address them in a timely manner by escalating them to the appropriate stakeholders.
Birendra Sen, Business Head, Business Process Services, Tech Mahindra, said, “CFOs are increasingly turning to AI-driven solutions to enhance their decision-making abilities and boost the agility of the Finance and Accounting (F&A) functions. We have been working diligently with a large number of enterprises across verticals to help them manage their CFO needs and service their customers better. AceFin™, our AI-based cognitive BPaaS solution for new-age CFOs, meets the growing needs in industrial operations and advances our aim of offering best-in-class digital solutions. AceFin™ will enable CFOs to make decisions based on deep data insights and AI/ML-based forecasting models. This will essentially empower finance heads to drive profitability and growth while minimizing risks.”
The solution is based on an advanced data mining tool which can convert complex data into analytics and insights. AceFin™ reports on all key performance indicators (KPIs) in real time. It also focuses on operational to strategic finance KPIs and makes complex data analysis simple. The solution will enable Tech Mahindra customers to deepen their digital footprint, bringing a tangible impact on their working capital and cost of finance operations. This will minimize/eliminate revenue leakages, optimize decision making while making investments including Mergers and Acquisition (M&A), divestitures’ resulting in enhanced C-Sat scores.
The addition of AceFin™ is in line with Tech Mahindra’s NXT.NOW™ framework, which aims to enhance ‘Human Centric Experience’, with a focus on investing in emerging technologies and solutions that enable digital transformation and meet the evolving needs of the customer.
About Tech Mahindra
Tech Mahindra offers innovative and customer-centric digital experiences, enabling enterprises, associates, and the society to Rise for a more equal world, future readiness, and value creation. It is a USD 6+ billion organization with 157,000+ professionals across 90 countries helping 1290 global customers, including Fortune 500 companies. It is focused on leveraging next-generation technologies including 5G, Metaverse, Blockchain, Quantum Computing, Cybersecurity, Artificial Intelligence, and more, to enable end-to-end digital transformation for global customers. It is the only Indian company in the world to receive HRH The Prince of Wales’ Terra Carta Seal for its commitment to creating a sustainable future. It is the fastest growing brand globally in ‘brand value rank’ and amongst the top 7 IT brands globally in brand strength with AA+ rating. With the NXT.NOW™ framework, Tech Mahindra aims to enhance ‘Human Centric Experience’ for its ecosystem and drive collaborative disruption with synergies arising from a robust portfolio of companies. Tech Mahindra aims at delivering tomorrow’s experiences today and believes that the ‘Future is Now’.
Tech Mahindra is part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate. The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.