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

25 January 2019 Consultancy.in

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.

TCS is the fastest growing IT services firm

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.”

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Grant Thornton named India's best sports services consulting firm

10 April 2019 Consultancy.in

Honouring its work with the Hockey World Cup 2018, global professional services firm Grant Thornton’s India practice has been named the Best Sports Services Consulting Firm at this year’s Sports Excellence Awards held by the Associated Chambers of Commerce and Industry of India (ASSOCHAM). 

The firm was selected by the Sports & Youth Services Department in the Odisha government last year to manage the Hockey World Cup 2018, which took place in Bhubaneshwar between November and December. 16 teams participated in the event, which was won by Belgium.

Grant Thornton has been laying greater emphasis on its sports consulting services in recent years, particularly in the Indian market. Alongside its position as Project Manager for the Hockey World Cup, the firm is also currently working on projects with the regional governments in the states of Punjab and Kerala.

The projects include  sporting initiatives from both states, and have presumably resulted from Grant Thornton’s demonstration of its ability to manage a sporting event of great scale. The firm has now been formally recognised in New Delhi by ASSOCHAM for its work during the event.Grant Thornton named the Best Sports Services Consulting Firm in India

The firm received the award for the Best Sports Services Consulting Firm in the Sports Excellence Awards division of ASSOCHAM’s National Summit & Awards on Sports Business: Infrastructure, Investment and Merchandising. Sports has become the latest focus for Grant Thornton, in addition to other diversification efforts.

Commenting on the award, CEO of Grant Thornton India Vishesh Chandiok said, “I am absolutely delighted at this occasion of Grant Thornton being awarded as the sports consultancy of the year. Hockey World Cup was not only the biggest sports consulting project ever, but it also ended up being one of the most successful sports events ever hosted in India. I really hope this has set the standard for the future and I would like to congratulate all our 4,000 plus employees in India and more than 50,000 around the world for the encouragement and work on the ground.”

“We realigned our focus on sports advisory about two years back. In these couple of years, we have seen the growing interest of Governments and the private sector in sports and believe that Grant Thornton has global expertise and credentials to meet their requirements. Going forward, we plan to work closely with Governments, the private sector, federations and other stakeholders in developing competitiveness in the sports sector,” he added.