Wipro Positioned as a ‘Leader’ in Everest Group's Finance and Accounting Outsourcing (FAO) PEAK Matrix® & Order-to-Cash (O2C) PEAK Matrix® Assessment 2023

In its comprehensive assessment of 28 finance and accounting (FAO) service providers based on their vision & capabilities and impact on the FAO market and position them on two PEAK Matrix® Assessments for FAO and Order-to-Cash (O2C) Services.

“Wipro is well positioned to drive better synergies across its digital operations & platforms, enterprise applications, consulting, and cyber security practices to offer integrated F&A services owing to its recent organizational restructuring,” said Vignesh Kannan, Vice President, Everest Group. “It has strengthened the application of its advanced analytics and AI capabilities across F&A including complex F&A areas and Enterprise Performance Management (EPM). Its continued investments in proprietary digital solutions such as Wipro HOLMES™ and Wipro ai360 and other emerging areas such as sustainability and generative AI helped it maintain its position as a Leader in Everest Group’s Finance and Accounting Outsourcing (FAO) Services PEAK Matrix® Assessment 2023."

“Wipro’s digital-first strategy to cater to end-to-end demand across the Order-to-Cash (O2C) value chain, ongoing investments in building O2C-specific cognitive use cases, and its robust partnership ecosystem with O2C-specific vendors such as High Radius, Pega, Zuora, and Esker have helped it achieve its position as a Leader in Everest Group’s Order-to-cash Outsourcing (O2C) Services PEAK Matrix® Assessment 2023,” said Vignesh Kannan, Vice President, Everest Group. “Its industry-specific solutions such as FNOL for insurance sector and Cargo Reservations, Operations, Accounting, and Management Information System (CROAMIS) for airlines sector are some its differentiators."

Everest Group has called out the below points as Wipro’s key strengths:

• Wipro follows a digital-first strategy by integrating its strong IT legacy, process/domain expertise, and Enterprise Operations Transformation (EOT) framework to drive digital transformation for clients.
• It leverages a robust suite of digital solutions to serve its clients’ holistic F&A requirements through proprietary technologies (such as Wipro HOLMES™) and frameworks along with third-party partnerships.
                - It continues to invest in its Enterprise Performance Management (EPM) solutions, expanding in areas such as FP&A
  ­       ­       - It has significantly invested in its cognitive capabilities and has developed 150+ AI assets and use cases across the F&A                        value chain, with the industry-specific use cases in the BFSI, retail, and energy and utilities segments.
                - Wipro has established a center of excellence to discover generative AI use cases in F&A.
• The company has robust industry-specific O2C capabilities and leverages innovative crowdsourcing initiatives to complement its partnerships with High Radius, Pega, Zuora, and Esker to ensure end-to-end O2C digital transformation for its clients.
• It leverages a One-Wipro approach for all its BPS and IT engagements, prioritizing client accounts as opposed to a siloed/vertical/function-specific approach.
           ­   ­ - Recently, it underwent an organizational restructuring to enhance synergies across operations, technology, IT, and                                 consulting to provide end-to-end solution to its F&A clients.
               - Clients frequently highlighted Wipro’s partnership-driven approach and its ability to integrate synergies across different                         departments as its key strength.
• Wipro leverages its partnerships with ESG specialist vendors such as Enablon, Sphera, Earthsoft, and GenSuite to provide solutions related to ESG data capture, reporting, and monitoring. It is also investing in an integrated impact accounting and intelligence offering for clients.
• It has made significant strides in its shared services transformation advisory functions, especially its advisory capabilities in SAP implementation and cybersecurity, with its recent acquisition of Rizing (a leading consulting firm in SAP) and Edgile (a leading firm in customized risk and security advisory services)
• It has strong expertise in serving organizations in the BFSI, manufacturing, and hi-tech & telecom verticals across end-to-end F&A processes.
• It has a robust global delivery footprint and continues to expand in APAC, EMEA, and North America.