Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader in the Everest Group PEAK Matrix® for Cloud-Native Application Development Services1. In an assessment of 21 cloud-native application development service providers, TCS was placed highest for its Vision and Capability.
The report highlights that TCS has strong industry proof points in delivering cloud-native solutions for large engagements and critical business operations. It cites TCS' domain knowledge in the major business verticals that help it offer contextualized cloud-native solutions, build credibility, and certainty among enterprise clients, as a key strength. Also highlighted as strengths are its IPs, tools and solutions such as Jile™, ignio™, and TCS MasterCraft™ that facilitate the company to accelerate and automate different stages of cloudnative application development.
According to the report, TCS' client-centricity, technical expertise, and delivery excellence are well recognized by the market. It goes on to say that the company's location-independent Agile Scrum Model and Factory Model for development are being increasingly adopted and appreciated by clients during the COVID-19 pandemic.
"Cloud-native architectures and technologies are today the default choice for purpose-driven enterprises looking to accelerate innovation, reimagine their business models, and enhance customer experience to drive growth," said Suranjan Chatterjee, Global Head, Cloud Applications, Microservices, and APIfication Practice, TCS. "Our positioning as a Leader in this report is a validation of our advanced strategy, comprehensive set of offerings and proven execution capabilities that are driven by thought-leadership, customer centricity and continuous investments in future-ready solutions that help our customers realize their growth and transformation vision."
TCS has been engaging with leading enterprises in their digital transformation, leveraging its deep domain expertise, contextual knowledge and design studios to redesign front-end interactions and associated processesto reimagine customer experiences and journeys. In many instances, this provides an opportunity to ideate and co-innovate with the customers' business teams. TCS' Pace Ports™ and Co-innovation Network are central to the ability to rapidly prototype the resultant ideas.
The reimagined processes are brought to life by developing new business applications using cloud-native technologies. TCS' investments in organic talent development has resulted in a large and deep pool of expertise in these new technologies. Its Location Independent Agile™ model enables the rapid development of a minimum viable product using globally distributed teams and continual enrichment of functionality and features in subsequent sprints.
TCS' comprehensive portfolio of intellectual property and tools help customers accelerate and automate the different stages of cloud native application development. TCS iCMC™ is a decision support engine that helps customers plan the sequencing of applications for modernization and cloud migration, considering the application estate, technology stack, licenses and business considerations. It has helped enterprises speed up pre-migration cloud assessment and decisions by 75 percent. Another accelerator is the TCS Modernization Propeller that has an extensive library of pre-defined industry-specific microservices and API templates built using TCS' deep domain knowledge, an integrated MS/API Development Factory and a holistic Business Ecosystem Integration Services framework.
"To drive differentiation, enterprises are building applications customized to their needs and leveraging cloud-native principles to make such applications nimble and flexible," according to Yugal Joshi, Vice President, Everest Group. "TCS has capabilities to build critical cloud-native applications for its clients. Its IP and Machine First Delivery Model (MFDM) help it accelerate services and drive certainty for its clients."
"Our deep contextual knowledge of customers' businesses, investments in design and co-innovation capabilities, ability to manage digital at scale, and our strong relationships with the cloud technology ecosystem, make us the preferred partner for companies looking to rearchitect their application estate as well as for greenfield initiatives that will help them be more resilient and adaptable to lead in the postpandemic world," added Suranjan Chatterjee.
Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2460.05 as compared to the previous close of Rs. 2502.65. The total number of shares traded during the day was 83371 in over 5071 trades.
The stock hit an intraday high of Rs. 2495 and intraday low of 2452.6. The net turnover during the day was Rs. 206109240.
1 Cloud-native Application Development Service PEAK Matrix Assessment 2020, Yugal Joshi, Alisha Mittal, Ankit Gupta, Prasun Dey, Everest Group, August 21, 2020