June 19, 2017
Tata Consultancy Services recognised as a leader and star performer in Life Sciences IT Application Services
Report Cites TCS’s strong platform-driven approach, industry expertise, scale and focus on next-generation solutions as key attributes
New York | Mumbai: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organisation, has been recognised as a leader and star performer for Life Sciences IT Application Services by leading advisory and research firm, Everest group, in its report titled Life Sciences – IT Application Services Providers PEAK Matrix™ Assessment 2017.
Everest group acknowledged TCS’s strong foothold in the pharmaceutical and medical devices sector, and a growing business presence with biotechnology firms. The report highlights TCS’s strong focus on development of next-generation solutions, incorporating artificial intelligence (AI), IoT and platform-driven approaches for areas such as drug development and patient engagement.
Everest group analysed the capabilities of 22 service providers on the Everest group PEAK Matrix in the global life sciences sector. The PEAK Matrix is a composite framework that provides an objective, data-driven and comparative assessment of life science IT apps service providers, which are then divided into three categories based on market success and delivery capability.
“Life Sciences firms are grappling with the reinvention of their business models, along with the need to unlock efficiency out of globally diversified operations. Technology is a key enabler to ensure this transition, and TCS continues to be a partner of choice for leading life sciences firms, based on its delivery excellence and on-going market success,” said Jimit Arora, partner, Everest group. “By taking a platform-driven approach to strategic value chain tenets, TCS is seeking to future-proof its portfolio and driving differentiation in a highly competitive market,” he further added.
“Life Sciences customers are embracing newer technologies and next-gen platforms to meet the challenges of higher R&D costs, declining revenue and increasingly complex regulations,” added Debashis Ghosh, president, life sciences, manufacturing and energy business group, TCS. “Our deep industry expertise, global scale, investments in digital solutions, and focus on platforms enables us to offer true value to our customers across the life sciences value chain,” Mr Ghosh further said.