October 31, 2017
TCS recognised as a leader and star performer in digital services
Report highlights Tata Consultancy Services’ investments in digital tools and solutions being actively leveraged to drive digital engagements
Santa Clara | Mumbai: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organisation, has been positioned as a leader and star performer in Everest Group’s Digital Services – PEAK Matrix™ Assessment and Market Trends 2017: ‘Redefining Customer Experience with Digital.
“Customers are accelerating their digital spending, leveraging technology to reimagine their businesses and build competitive differentiation,” said Krishnan Ramanujam – president, business and technology services, TCS. “This recognition is a testament to our market-leading capabilities in the digital space, and recognition of the market success we are having with our innovative solutions and transformational services,” said Mr Ramanujam.
TCS’s revenue from digital services was over $2.9 billion in FY17 (year ended March 31), growing 28.8 percent year-on-year. With digital projects becoming larger and more ambitious, their complexity and the attendant risks have also gone up, resulting in a greater propensity of customers to turn to large, trusted partners such as TCS to guide them in their transformational journey, reduce risks and gain time to market benefits.
“Enterprises are increasingly adopting digital technologies for achieving organisation goals such as driving customer loyalty, improving brand image, combating competition, and staying relevant in the market,” said Chirajeet Sengupta, partner at Everest Group. “TCS has strengthened its leader’s positioning this year, due to its expertise in handling large digital transformation engagements, and its notable year-on-year revenue growth, demonstrating its market success,” he added.
In addition to deep domain expertise, contextual knowledge and extensive portfolio of intellectual property, investments made in the last few years in user experience design studios, collaborative workspaces, and innovation centres across the world showcasing outcomes of highly successful research programmes, have helped TCS quickly gain leadership in the digital space.
Execution capability has been significantly boosted by large investments in reskilling the workforce in newer technologies and delivery models. In FY17, over 215,000 employees underwent training in digital technologies, acquiring over 598,000 competencies.
Earlier this year, TCS signaled the achievement of critical mass in digital technology services by launching new business groups targeting individual components of the digital service stack – such as Internet of Things, Big Data analytics, AI, Blockchain, Cloud and Automation.
“The creation of multiple digital service groups and a Consulting and Service Integration practice is making a big difference, systematically bringing together our domain expertise, contextual knowledge, innovation and digital expertise to seamlessly deliver superior transformational outcomes that our customers value,” added Mr Krishnan.