NEW YORK and MUMBAI, India, June 22, 2017 /PRNewswire/ -- Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader for Life Sciences Drug Safety Services in the IDC MarketScape, "Worldwide Life Science Drug Safety Services Vendor Assessment 2017," (IDC #US42595616, June 2017), demonstrating the most mature strategies and capabilities amongst all vendors highlighted in the report.
The report noted TCS' solid Drug Safety IT services and well-established Business Process Services (BPS) Drug Safety capabilities, and highlights TCS' extensive experience working with life science companies, strong technical focus, and investments to drive innovation in drug safety services.
The IDC MarketScape assessed the capabilities and market successes of eight leading IT Service providers that serve the Life Sciences sector in Drug Safety Services. They were evaluated against breadth of service offerings, diversity of resources and infrastructure-supporting services delivery, project experience in the Life Sciences Drug Safety Services market, customer service strategy and customer satisfaction, pricing model, go-to-market capabilities, and commitment to growth and innovation in the R&D Drug Safety space.
"TCS' strong technical focus; willingness to invest to drive innovation in drug safety services; success with life science companies including pharmaceuticals, biotech, medical devices, and animal health; and broad service offerings make the company a strong partner for companies seeking a preferred vendor to address their operational and strategic outsourcing needs," said the report's author, Alan S. Louie, Ph.D., Research Director, clinical development strategy and technology, IDC Health Insights.
"Life sciences organizations are moving towards making personalized medicine a reality and demonstrating successful health outcomes," said Debashis Ghosh, President, Life Sciences, Manufacturing and Energy Business Group, TCS. "This recognition by the IDC MarketScape reflects our commitment and ability to enable customers to meet the requirements of ever-shifting drug safety regulatory landscape, and leverage digital technologies in modernizing drug safety. Our market leading capabilities in both business process services and IT services make us a partner of choice."
About IDC MarketScape: IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
About Drug Safety Practice
TCS' Drug Safety services offer enhanced efficiency and ensure regulatory compliance while reducing costs significantly. TCS' platform for Pharmacovigilance and Device Vigilance provides Integrated Patient Safety (IPS), use of cognitive computing, machine learning, and text mining. Offered in BPaaS and SaaS models, TCS Life Sciences customers benefit from the company's significant intellectual capital that is manifested through its diverse domain expertise, adherence to reporting timelines of various industry authorities, global reach, and quality systems approach.
About TCS Life Sciences
TCS Life Sciences provides top global life sciences organizations full service offerings in IT, Consulting, KPO, Infrastructure and Engineering Services, as well as digital solutions using Mobility, Big Data, Analytics, and Cloud. TCS' rich industry experience, domain expertise and global footprint allows for a seamless partnership with its life sciences customers to help them advance clinical trial efficiencies, accelerate drug discovery, accentuate manufacturing productivity, and amplify 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, BPS, 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 387,000 of the world's best-trained consultants in 45 countries. The company generated consolidated revenues of U.S. $17.6 billion for year ended March 31, 2017 and is listed on the BSE Limited and National Stock Exchange of India Limited. For more information, visit us at www.tcs.com.
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SOURCE Tata Consultancy Services