Brand Finance Ranks TCS as One of the Top 3 Global Brands in IT Services
Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organisation, has broken into the list of the Top 3 most valuable brands in the IT Services industry, in an assessment done by Brand Finance, the world’s leading brand valuation firm.
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“Just five years ago the TCS brand had achieved a major milestone, emerging as one of the Big 4 brands in the IT Services sector. Through sustained growth in their brand value, they have now moved up one spot and consolidated their place along with IBM and Accenture at the top of the sector’s foodchain.” Said David Haigh, CEO of Brand Finance. He added “ This represents an absolutely stellar performance, adding an annual average of nearly a billion dollars in brand value across the seven year tenure of their previous CEO N. Chandrasekaran.”
TCS was also rated as the Industry’s highest brand strength rating of AA+ and contributes to 69% of the value of the larger Tata Brand, which remains the #1 ranked brand originating from India. Over the past year, TCS has also been recognized for running one of the most innovative marketing programmes in Europe and featured as a top 100 brand in the United States.
“The foremost driver of our brand has always been the strong talent we have in the company along with a culture of customer centricity, innovation and consistent business performance. We will continue to invest in strategic initiatives towards all these areas, to further strengthen our brand position.” said Rajesh Gopinathan, CEO and MD of Tata Consultancy Services.
In 2016 TCS strengthened its portfolio of brand partnerships by being appointed as the Official Technology Partner to the Virgin Money London Marathon and as title partner to the world’s largest cross country race, which has been renamed to the TCS Lidingöloppet run. Association with major marathons such as the TCS New York Marthon and TCS Amsterdam Marathon have significantly boosted TCS’ brand in its key markets. In a recent survey, 98.6% of its clients stated that the TCS Amsterdam marathon has significantly strengthened the company’s brand in the Netherlands.
At the World Economic Forum at Davos last month, TCS launched a major brand campaign titled #DigitalEmpowers – highlighting the role of technology as a force for good. From farmers using smartphones to protect their crops, to drones helping save endangered animals and protect forests and women being empowered through careers in technology – the campaign brings together inspiring stories from TCS and its partners to galvanize solutions on how technology can help ensure inclusive outcomes for people around the world.
Industry analyst ratings have seen TCS consolidate its brand positioning with its clients, by being rated as the Industry leader in customer satisfaction and as a recipient of client accolades, such as being rated as the Digital Innovator of the year by GE. A growing number of analysts from firms such as IDC, Forrester, Gartner, Nelson Hall, HfS and the Everest group have placed the company in the Leader/Winner quadrant of their industry profiles on digital technologies including Cloud, Big Data, IoT, Mobility and Artificial Intelligence. It has continued to build on the base of this strong digital positioning of its brand by hosting a continuous thought leadership event series for C-Level executives, the TCS Summit, in North America, Europe, APAC, Japan and Latin America. It also releases an annual Global Trends Study report, covering the adoption and potential of a range of emerging digital technologies including Mobility, the Internet of Things, Big Data and Atificial Intelligence.
Notably, the company’s employer brand has been gaining in strength. In 2016 TCS was one of only 8 companies worldwide to be attested as a Global Top Employer, by being recognized as a leading employer in 24 countries across the globe. The Brand Finance assessment indicated noteworthy improvements in the company’s people and employee scores across the board.