TCS ranked the 58th most valuable brand in the US by Brand Finance
Having received a number of accolades for its services in the software and digital domains, Tata Consultancy Services (TCS) has now begun to be recognised for the size of its operations. London-based valuation firm Brand Finance has ranked the firm amongst the top 100 most valuable brands in the US.
Founded in London in 1996, Brand Finance is a consulting firm that provides services in the marketing finances domain, essentially supporting firms with constructing a profitable image through targeted strategies. An essential component for these services is a comprehensive understanding of the existing market and the most effective brands therein.
To obtain such an overview, the firm conducts and publishes a periodic analysis of the 500 most valuable brands across the world, in addition to individual assessments of some of the 20 countries in which the firm is active. The evaluation is based on the principles of transparency and accessibility, which are incorporated into the firm’s ‘Royalty Relief’ method.
In essence, Brand Finance makes an estimate of the expected sales of a firm in the future, and subsequently calculates how much royalty would be charged to use the brand. Using this method, the firm has published its list of 500 for the US in 2018 – and India’s largest firm by market capitalisation has made the 58th spot on the list.
Alongside surpassing the $100 billion mark in India, garnering business in Australia, and bolstering its operations in the French market, TCS has been exceptionally active in the US in recent times. Over the last 3 years, the firm’s cumulative investment in the country amounts to just short of $3 billion.
Most of this investment has come in the form of long-term, community-oriented initiatives, including the establishment of the goIT Student Technology Awareness Program, which aims at increasing the pool of talent in the science, technology, engineering, and mathematics (STEM) domain, wherein nearly 4.5 million jobs are expected to open up by 2024.
Other educational initiatives launched by the firm include ‘Ignite My Future in School’, which is a collaborative effort with Discovery Education to incorporate computational and digital aspects into the mainstream curriculum, as well as the $35 million establishment of TCS Hall at Carnegie Melon University and the opening of a Tata Innovation Centre at Cornell Tech as part of a $50 million investment plan.
Commenting on the ranking, Surya Kant, President of TCS for North America, the UK and Europe said, “Our customer-centric approach and commitment to helping American businesses and communities transform and grow, are key drivers of TCS' brand strength in the US. We are proud to be recognized for the fourth consecutive year as one of America's top 100 most valuable brands, and remain steadfast in re-skilling our employees, this nation's future talent and, of course, helping our customers in their digital transformation journeys to become Business 4.0 enterprises.“
Brand Finance CEO David Haigh added, “TCS recently consolidated its position as a top three global IT services brand by adding more than $1.3 billion to its value, which is a huge achievement for the company and its relatively new CEO. TCS' deep expertise across industries, leading approach to digital business transformation, employee re-skilling, investments in notable academic research partnerships, and platforms such as the TCS New York City Marathon have helped to significantly grow its brand value.”
