NEW YORK and MUMBAI, India, June 26, 2015 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, announced that it has been designated as a Leader in Worldwide Life Sciences R&D Risk-Based Monitoring by global market intelligence firm, IDC, in the "IDC MarketScape: Worldwide Life Science R&D Risk-Based Monitoring 2015 Vendor Assessment," (doc #HI255628, April 2015) report.
The report evaluated eight leading IT services vendors with significant RBM expertise, across a number of capability and strategy measures such as, offering roadmap, portfolio strategy, customer base, engagement capability, pricing model, investment, growth strategy, and more. IDC MarketScape's criteria selection, weightings and vendor scores, represent well-researched IDC judgments about the market and vendors through structured discussions, surveys and interviews with market leaders, participant buyers and end users.
TCS was recognized as a leader for its overall capability and extensive experience working with life sciences companies across all three sections of the industry: pharmaceutical, biotech and medical devices. The report further states that TCS brings a full spectrum of strong operational service capabilities to the clinical trial space, with particular strength in data management, analytics, systems integration, and RBM-specific operational processes.
"The full implementation of RBM across the clinical trial life cycle requires a variety of service capabilities, ranging from RBM strategic consulting to RBM-specific IT infrastructure support to RBM specific BPO," said Dr. Alan Louie, Research Director, Clinical Development Strategy and Technology, IDC Health Insights. "TCS' strong technical focus, success with top life science companies, and growing experience in the RBM space, make the company a strong contender for companies seeking a service organization to help operationalize RBM into their clinical processes."
"With increasing complexities in the life sciences R&D market, organizations are working aggressively towards reducing overall trial costs, which has led to a rapid adoption of risk-based monitoring in clinical trials," said Debashis Ghosh, President of Life Sciences, Manufacturing and Energy & Resources at TCS. "We are honored to be recognized as a Leader in such an integral space by IDC Health Insights."
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 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, 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 319,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $15.5 billion for year ended March 31, 2015 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