NEW YORK and MUMBAI, India, Oct. 21, 2015 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, today announced that for the fourth consecutive year, TCS has been recognized as a Star Performer and Leader in IT Application Outsourcing (AO) for capital markets by Everest Group, a leading consulting and research firm, in their "IT Outsourcing in Global Capital Markets – Service Provider Landscape with PEAK Matrix™ Assessment 2015: A Crowded Marketplace," August 2015.
TCS was recognized as a Star Performer and Leader for winning four new large capital markets AO deals, witnessing significant success in terms of renewals and expansions in 2014, higher buyer satisfaction levels, strong delivery, front-end sales and business relationship investments growth.
"We are extremely proud to be recognized as a Star Performer and Leader in IT AO for capital markets by the Everest Group, for the fourth year in a row," said Susheel Vasudevan, TCS Vice President and Head of Banking and Financial Services. "This positioning acknowledges TCS' deep commitment to client centricity and co-innovation in digital solutions through proactive investments in technology."
Everest Group analyzed the capabilities of 24 leading AO providers specific to the global capital markets sector. These providers were mapped to the Everest Group Performance| Experience| Ability| Knowledge PEAK Matrix, which is a composite index of a range of distinct metrics related to each provider's capability and market success. This report focuses on the landscape of service providers for capital markets AO; assessment of service providers on a number of capability-related dimensions; characteristics of Leaders, Major Contenders and Aspirants on the Everest Group capital markets AO PEAK Matrix; "Star Performers" of 2015 providers with the strongest forward year-on-year movement – in terms of both market success and capability advancements; and implications for capital markets buyers and service providers.
"Capital markets firms globally are focusing to contain cost and improve profitability, while dealing with high regulatory pressures, intense competition, and an uncertain economy. IT service providers are having to adapt their offerings to this evolving demand dynamic and invest in digital technologies, utility-based models, proprietary regulatory solutions, and co-innovation with clients," said Jimit Arora, Vice President, Everest Group. "Delivery excellence, high client satisfaction, flexible engagement models, deep domain-centric solutions, and investments in digital technologies helped TCS further enhance its position as a Star Performer and Leader on the 2015 Everest Group Capital Markets AO PEAK Matrix™."
To view the full TCS Leader position profile in Global Capital Markets Application Outsourcing (AO) by the Everest Group, click here.
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 335,000 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.
SOURCE Tata Consultancy Services