NEW YORK and MUMBAI, India, Aug. 27, 2014 /PRNewswire/ -- Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization, today announced that it has been recognized by Forbes as one of the World's Most Innovative Companies, positioned 57th overall as the highest-ranking global IT services provider on this year's top 100 list.
The World's Most Innovative Companies List is developed annually by Forbes Magazine, recognizing corporate excellence in fostering innovative and creative business thinking and solutions. Companies are ranked by their 'innovation premium,' or the difference between their market capitalization and a net present value of cash flows from existing business.
"It is an honor and distinction to be recognized by Forbes for our industry-leading commitment to innovation," said N Chandrasekaran, CEO and MD, TCS. "TCS continues to invest in global capabilities to help customers fully leverage today's disruptive digital technologies in simplifying operations and fundamentally re-imagining their business models, processes and products."
TCS has a long history of delivering innovative solutions to its customers, opening its first R&D lab in 1981 when the technology industry in India was just taking shape. Across industries and services, TCS has established a global network of Innovation Labs. Furthermore, TCS' Co-Innovation Network (COIN™) provides value to its customers across the entire technology and business landscape, forging and nurturing bonds with academic institutions, start-ups, venture funds, strategic alliance partners, multilateral organizations, and TCS' customers.
Innovation at TCS comes in many forms across the globe. Late in 2013, TCS opened the first all-female Business Process Services center in the Kingdom of Saudi Arabia, in collaboration with General Electric (GE) and Saudi Aramco. And in North America, TCS expanded its flagship goIT Student Technology Awareness Program to ten cities in 2014, and continues to play lead partnership roles in extensive national STEM education initiatives with the likes of Million Women Mentors, US2020 and nPower.
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™, recognised as the benchmark of excellence in software development. A part of the Tata group, India's largest industrial conglomerate, TCS has over 305,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $13.4 billion for year ended March 31, 2014 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
SOURCE Tata Consultancy Services