MUMBAI, India and NEW YORK, Nov. 22, 2013 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, today announced that it has been recognized as a "Star Performer" and "Leader" in Life Sciences IT Outsourcing by leading advisory and research firm Everest Group in its report, "IT Outsourcing in Life Sciences Industry Service Provider Landscape with PEAK Matrix™ Assessment and Profile Compendium 2013." These accolades are due to TCS achieving global deal success, growth on a large scale, and significant investment in life science proprietary solutions and research.
The report evaluated 14 service providers specific to the global life sciences sector and mapped them on Everest Group's Performance | Experience | Ability | Knowledge (PEAK) Matrix, which is a composite index of several distinct metrics related to a provider's capabilities and market success. Service providers are classified by three categories: Leaders, Major Contenders and Emerging Players. Everest Group also profiled the capabilities of these leading service providers in detail, including a comprehensive picture of their service scope, scale of operations, domain investments, delivery footprints, and market success.
According to Everest Group, Leaders, like TCS, have larger scale and broader and deeper client relations, higher technology capabilities and investment in tools and platforms, and a wider delivery footprint and global delivery presence. The report recognizes TCS as having one of the most extensive large-deal portfolios and the highest annual growth rate in the life sciences ITO segment.
"IT adoption in the life sciences industry is closely aligned to its business imperatives, and the industry in keenly adopting next-generation IT with an eye on enabling its strategic initiatives," said Jimit Arora, Vice President of Everest Group. "TCS is among a handful of service providers that cater to the life sciences market globally and has also achieved success with large-sized, multi-year service contracts. TCS has not only continued to maintain its position as a Leader, but also substantially enhanced its capabilities and thought leadership to drive innovation and be a Star Performer."
"This prominent recognition from Everest Group validates TCS' capabilities, vision and expertise to partner with leading global Life Science companies to address their business challenges," said Debashis Ghosh, President – Life Sciences, Manufacturing and Energy at TCS. "In a growing market filled with complexities in regulations, technology and business transformation, we are increasingly helping our customers across the value chain to drive the highest efficiencies. Over the past few years, we have made significant strides towards developing next-generation innovative solutions, facilitating cutting edge research and making strategic acquisitions, all of which have made us a partner of choice for pharmaceutical, biotech and medical device companies worldwide."
About TCS' Life Sciences Services
Top global life sciences organizations derive value from TCS' full services play in IT, consulting, KPO, infrastructure and engineering services as well as new-age business solutions including mobility and Big Data. TCS' rich industry experience, domain expertise and global footprint ensures that it partners with its life sciences customers to help them advance clinical trial efficiencies, accelerate drug discovery, maximize manufacturing productivity and improve sales and marketing effectiveness. In addition, TCS has a dedicated Life Sciences Innovation Lab, which ensures that its customers have the tools and innovative solutions they need to solve complex business challenges.
About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India's largest industrial conglomerate, TCS has over 285,000 of the world's best-trained consultants in 44 countries. The company generated consolidated revenues of US $11.6 billion for year ended March 31, 2013 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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SOURCE Tata Consultancy Services