TCS Designated a Leader and 2012 Star Performer in Capital Markets Application Outsourcing by Everest Group Research Report Cites TCS' Core Banking Platform BaNCS and Enhanced Data Management Tools as Key Leadership Characteristics
MUMBAI, India, Jan. 28, 2013 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced today that it has been designated as a Leader and 2012 Star Performer in capital markets application outsourcing (AO) by the Everest Group, an advisory and research firm on global services, in its December 2012 report, Application Outsourcing (AO) in Capital Markets: PEAK Provider Landscape – Need for Speed: Capturing the Capital Markets Momentum. Among the attributes that earned TCS the prominent position are its strong customer base, partnerships with capital markets technology vendors, extensive portfolio of proprietary solutions for capital markets AO delivery and the capital markets related modules of TCS BaNCS.
In this report, Everest Group analyzed the capabilities of twenty leading AO service providers in the global markets sector. The providers were examined through the lens of Everest Group's PEAK (Performance, Experience, Ability, Knowledge) Matrix, a composite index of distinct metrics related to each provider's capability and market success. Leaders exhibit top quartile performance across market success (transaction activity) and capability (scale, scope, domain investments, and delivery footprint). The Star Performer designation is awarded to providers with the strongest forward movement over time.
TCS' position as a Leader is a reflection of the strength of its universal financial services platform BaNCS and other proprietary solutions, the enhancements it has made to its suite of data management tools, including those for data cleansing, data generation, data migration solutions and data-masking, as well as its capital markets product implementation and market infrastructure partnerships. Further attributes that contributed to TCS' position as a leader include its continued growth in scale – over 20% in capital markets AO revenue year on year – and breadth of areas served within the capital markets domain, including depository, custody, reconciliation, investment banking, risk and compliance, wealth management and clearing, among others.
TCS earned the distinction of one of three Star Performers because it reported 30% revenue growth in capital markets AO revenue, won more than twenty large AO deals (with Total Contract Value >$25 million), expanded its capital markets AO practice significantly, and made continued investments in next-gen technologies such as mobility, cloud analytics, and Big Data as well as investments in an expanding proprietary suite of solutions and third-party alliances.
"TCS strengthened its leadership position, driven by strong domain focus, well-established scale, and positive market perception," said Jimit Arora, Vice President, Everest Group. "TCS continued to build on its leadership strengths with the largest scale amongst examined service providers, continued investments in next-generation technologies, and addition of multiple clients to its portfolio."
"We are honored to be recognized as a Star Performer and Leader in capital markets AO by the Everest Group," said Susheel Vasudevan, Vice President, Head Banking & Financial Services (Europe, UK, Capital Markets), TCS. "TCS' continued investments and increased domain footprint in the capital markets space speak to the value and expertise we provide our capital markets customers."
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 263,000 of the world's best trained consultants in 44 countries. The Company generated consolidated revenues of US $ 10.17 billion for year ended 31 March, 2012 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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