Often, start-ups struggle to scale as they grow. And when the market seems to saturate and opportunities seem hard to come by, they wonder how and when the next growth curve will take shape. This is where TCS (Tata Consultancy Services Ltd), India’s largest software exporter, continues to amaze its investors and analysts.
TCS has been ranked the third most-valued IT services brand globally for the year 2018-19, after Accenture and IBM, according to a report by Brand Finance. Four Indian IT service companies – TCS, Infosys, HCL, and Wipro – clinched spots in the top-10 global tally.
Valued at a whopping 26.3 billion USD, Accenture took the title of the world’s most-valued IT services brand. The first spot was previously held by IBM, which has now slipped to the second place with a value of USD 20.4 billion.
According to the report. “Holding steady in third place is India’s largest IT services conglomerate, TCS, up 23 percent to USD 12.8 billion, with a value bolstered by the brand’s disciplined focus on the market’s increased demand for digital services,”
Brand Finance said that not only is TCS the first Indian IT service brand to achieve success in the Japanese market but it has also positioned itself as a leader in providing a superior all-around customer experience, leveraging artificial intelligence and robotic automation across its transformation programmes.
American brand Cognizant and India’s Infosys (with a brand value up 8 percent to USD 6.5 billion) held onto their last year’s ranking of fourth and fifth positions, respectively.
The report also pointed out that although Cognizant is headquartered in New Jersey, US, it holds a major employee base in Chennai and has offices in Kolkata, Bengaluru, Hyderabad, Mumbai, Pune, and Cochin.
Brand Finance Chief Executive Officer David Haigh was quoted saying, “There is a reason why Bangalore is known as the Silicon Valley of India. As more and more IT services brands ramp up their outsourcing outposts across the country, it is the skilled workforce, world-class facilities, and infrastructure that makes India such an attractive location and ultimately a global powerhouse.”
“2018 was a year of celebrations at TCS, marking the completion of fifty years of industry-leading customer satisfaction, business performance, and community impact,” TCS Chief Marketing Officer Ravi Viswanathan said in a statement.
He added that the past year was characterized by momentum and milestones for TCS, including reaching USD 100 billion in market capitalization and securing record-level new customer partnerships in digital services.
In a separate statement, Wipro President, Milan Rao said that the recognition is a testament to the company’s rich technology heritage, sustained investments in building digital transformation capabilities, and deep domain and consulting expertise.