DAVOS, Switzerland and MUMBAI, India, Jan. 23, 2019 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced that it has been accredited as the fastest growing brand in the IT Services sector over the past decade. TCS' brand value increased by 447 percent, from $2.34 Billion in 2010 to $12.8 Billion in 2019 – according to Brand Finance, the world's leading brand valuation firm, in its 2019 IT Services rankings.
According to this year's Brand Finance report, released at the World Economic Forum Annual Meeting in Davos, Switzerland, TCS continues to be among the top 3 global IT Services brands. Its brand value increased by 23 percent over the prior year, and its brand rating was upgraded from AA+ to AAA-, marking another strong year of performance for TCS across multiple global markets. Moreover, TCS' Chief Executive Officer, Rajesh Gopinathan, was named as one of the top 100 global CEOs in a new Brand Guardianship Index that reflects the role of the CEO as a brand custodian. The index is based on Brand Finance's analysis of marketing investments, stakeholder equity and business performance of the world's top companies.
"2018 was a year of celebrations at TCS, marking the completion of five decades of industry-leading customer satisfaction, business performance, and community impact," said Ravi Viswanathan, Chief Marketing Officer, TCS. "The past year was characterized by momentum and milestones for TCS, including reaching $100 billion in market capitalization, securing record-level new customer partnerships in digital services, and our Business 4.0 framework resonating with customers across industries and the globe."
"The brand value of TCS increased in this year's report by 23%, to $12.8 billion, bolstered by the company's disciplined focus on the market's increased demand for digital services," said David Haigh, CEO of Brand Finance. "TCS has positioned itself as a leader in providing a superior all round customer experience, leveraging the likes of artificial intelligence and robotic automation across its transformation programs."
Over the past decade, TCS has significantly built its presence and strengthened its brand across numerous global markets. It became a Strategic Partner to the World Economic Forum and European Business Summit, and hosted a range of annual industry forums for C-suite customers and partners. TCS also significantly invested in a comprehensive portfolio of brand sponsorship platforms, from the TCS New York City Marathon and TCS Amsterdam Marathon, to several other running events in the United Kingdom, Sweden, Japan, Singapore, Australia, India, and the Philippines.
Together, these annual events engage more than 10,000 leading business executives. TCS' global brand awareness with these C-level executives has doubled to 84% in the last decade, in a study done by ITSMA research. Moreover, TCS has strengthened its partnerships with major global academic institutions, most recently through the funding of a TCS Hall at Carnegie Mellon University and the Tata Innovation Center at Cornell Tech.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for the last fifty years. TCS offers a consulting-led, Cognitive powered, integrated portfolio of IT, Business & Technology Services, and engineering. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 417,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $19.09 billion for year ended March 31, 2018 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
SOURCE Tata Consultancy Services