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TCS Recognized as U.S. Superbrand for Strength of Business Reputation and Community Impact

Posted On: 2020-10-14 06:11:44

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been selected as a Superbrand in the United States based on the strength of its brand reputation across channels, business performance, industry-leading job creation, scale of employee training and development, and dedication to nationwide corporate social responsibility initiatives.

Superbrands, the world's independent arbiter of branding, evaluated companies in the U.S. across 90-plus industries that displayed an excellent level of public brand recognition, customer engagement, community impact, and demonstrated long-term brand reliability, consistency and responsibility. TCS was one of 35 brands accorded the U.S. Superbrands status, alongside Amazon and Google in the technology sector.

Over the past 40 years - and particularly the last decade - TCS has built a significant brand presence in the U.S. by partnering with more than a third of the Fortune 500 companies. It has helped them to digitally transform and grow their businesses by leveraging its extensive domain and contextual knowledge across industries, deep expertise in digital technologies, and investments in research and innovation.

Customers are plugging into the TCS innovation ecosystem to create new products, services and customer experiences. To facilitate these engagements - often involving academic and startup partners - TCS has invested in its TCS Pace Port™ co-innovation and advanced research center at the Cornell Tech campus in New York. Similar Pace Ports will be launched in 2021, in TCS Hall on the campus of Carnegie Mellon University and in other locations across the country.

TCS has been among the top two U.S. recruiters of IT services talent, hiring more than 21,500 employees in the past five years alone. With technology emerging as central to U.S. enterprises' ability to respond and recover from the pandemic, TCS has seen a surge in demand for its services. To support this growth, it expects to recruit an additional 10,000 individuals in the U.S. by 2022.

The company has also been investing in local communities across the country, focusing on education and wellness. In 2019, more than 18,500 of its U.S. employees volunteered for TCS' flagship education platforms. TCS goIT focuses on design thinking, problem solving and career readiness, and has engaged more than 30,000 students across the country since 2009. It has partnered with Discovery Education for the Ignite My Future in School (IMFIS) program, a pioneering, transdisciplinary approach for K-12 education, embedding computational thinking into core subjects. IMFIS has so far empowered almost 12,000 teachers and 675,000 students.

TCS has been enhancing its brand visibility and community impact by sponsoring major running events like the TCS New York City Marathon, for which it developed the award-winning official race app that was downloaded a record-breaking 490,000 times during the 2019 race. TCS is also the tech sponsor of the Boston and Chicago Marathons, encouraging agility during the pandemic through virtual races and using the official app to recreate the courses, experiences and fan support, no matter where runners participate.

"Our sustained investments in local talent development and in creating co-innovation ecosystems and infrastructure have significantly enhanced our brand and made us the preferred partner for leading U.S. corporations in their growth and transformation journeys," said Surya Kant, Chairman of North America, TCS. "Furthermore, our flagship STEM programs and marathon sponsorships demonstrate our commitment to building equitable pathways to education and improved health for those in disadvantaged communities."

"This year has become a historic challenge for brands. It has also allowed them to transform and shift away from their competition by showing true brand responsibility. Superbrands recognizes these outstanding brands and the stories behind their success, while also paying tribute to the teams who have gone above and beyond to ensure excellence," said Stephen Smith, President of Superbrands Ltd.

The Superbrands business accolade follows the more than 30 awards TCS received in the U.S. over the past year, such as being named as one of the Fortune Best Big Companies to Work For™ in 2020 and among America's Civic 50. TCS was also named as one of the Top 100 U.S. brands for the sixth consecutive year and as a Top 15 brand in New York State, with a brand valuation of $12.5 billion.

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2809.8 as compared to the previous close of Rs. 2825.65. The total number of shares traded during the day was 86667 in over 5818 trades.

The stock hit an intraday high of Rs. 2840.15 and intraday low of 2788.95. The net turnover during the day was Rs. 243426892.

Source: Equity Bulls

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