Tech Mahindra, a provider of digital transformation, consulting, and business re-engineering services and solutions, announced launch of AceFin, a cognitive AI-based Business Process-as-a-Service solution designed to provide actionable insights for Chief Finance Officers. 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 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 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.