TCS named the fastest growing firm in the domain of IT services

Following an exceptionally successful year, Indian IT services giant TCS has received yet another accolade from global brand valuation firm Brand Finance. The firm has been named the globe’s fastest growing brand in the domain of IT services, resulting from its growth of over 400%.

Demand for IT services is expanding rapidly across the globe, which paves the path to success for firms such as TCS operating in this domain. The firm has fast grown into a global operation, with a vast pool of clients not only in India but across the US, Europe and even Australia.

On the back of this growth, the firm’s market capitalisation surpassed $100 billion in April last year, becoming only the second firm to do so since Reliance in 2007.  The milestone was a culmination of growth over a sustained period of time, something that has been recognised by Brand Finance.

The valuation consultancy has recorded TCS’ growth since 2010, when its brand value stoof at $2.34 billion. The firm’s brand is now worth $12.8 billion, making it the fastest growing IT services brand in the world over the last decade, and placing it amongst the top 3 IT services brands in the world in terms of overall value.

The growth increase represents growth of approximately 447%, a revelation was made in a Brand Finance report released at the World Economic Forum (WEF) at Davos this year. Last year, Brand Finance recognised TCS’ growth in the US market specifically, naming it the 58th most valuable brand in the country.

TCS’ growth in the US came on the back of a number of lucrative projects, including a contract worth over $2 billion with insurance firm Transamerica wherein the consulting firm took over the administration for Transamerica’s insurance and annuities verticals. The firm also replaced Deloitte in Australia to oversee a project for a transportation agency in New South Wales.

The firm has received a number of accolades as a result of its expanding profile, including being named a leader in the domain of Software Product Engineering as well as a leader in GDPR services. TCS also joined Infosys on the Forbes list for the best-regarded companies in the world.

Commenting on the latest accolade, Ravi Vishwanathan, Chief Marketing Officer at TCS said, “2018 was a year of celebrations at TCS, marking the completion of five decades of industry-leading customer satisfaction, business performance, and community impact. 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.”

CEO of Brand Finance David Haigh added, “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. 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.”