TMF Group Recognized for its Global Market Success and Delivery Capabilities in Finance and Accounting Outsourcing – Service Provider Landscape with PEAK Matrix" Assessment
Miami. August 16, 2016 – TMF Group, a leading provider of global business services, has been named a 'Major Contender' by Everest Group in its annual Finance and Accounting Outsourcing (FAO) – Service Provider Landscape with PEAK Matrix" Assessment (2016).
A recent addition on the FAO PEAK Matrix, TMF Group is recognized as a global service provider with the capability of successfully delivering technology solutions and innovation. This encompasses support capabilities across the following end-to-end processes—P2P (procure-to-pay), designed to provide organizations with control and visibility over the entire life-cycle of a transaction, including day-to-day purchasing and compliance management; R2R (record-to-report), the management process for providing strategy, financial analysis, budgeting, forecasting and operational feedback); and O2C (order to cash functions), the business process for receiving and processing customer sales.
The report also praises the multinational firm for its distinct in-country delivery model that leverages local market knowledge and enhances regulatory compliance.
In addition, TMF Group is noted for its global governance model that provides clients transparency, efficient communication and control of their operations. Other acknowledged key strengths include 'strong relationship management skills, adaptability and good local knowledge.'
Deborah Williams, Head of Global Business Services at TMF Group, commented: "The findings of the Everest FAO report validates what we have been building towards for the past few decades—a business model that values expertise and client compliance with technology as the vehicle."
She continued: "Our new organizational construct is aimed at leveraging technology to combine our local expertise with transparency and risk control. The report verifies that our market efforts are paying off with clear results."
Megan Weis, Vice President of FAO Research at Everest Group, added: "TMF Group's position as a Major Contender in the FAO PEAK Matrix is a reflection of its broad capabilities across the entire F&A (Finance and Accounting) value chain, ability to provide "last-mile" support, and a unique "in-country" delivery model which provides local market expertise and language capabilities. Furthermore, its delivery is strengthened by a global governance model which provides its clients with increased transparency as well as more control of their own operations."
The FAO assessment includes analysis of 26 service providers that 'are creating a differentiation in this market through various strategies' and 'proposing more transformative solutions.' Everest used its PEAK matrix to evaluate the providers' market success and FAO delivery capability. Providers are positioned on the matrix as one of three categories – Leaders, Major Contenders and Aspirants.
Recently, TMF Group was also recognized by Everest as one of the largest multi-country payroll providers with rapidly expanding global technology in its Multi-Country Payroll Platform (MCPP) Assessment.
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