Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been named a Leader in the Everest Group PEAK Matrix™ for life Sciences Digital Services in Europe.1
The report, which analyzed the digital services capabilities of 21 IT service providers specific to the life sciences sector in Europe, highlights TCS' credible digital transformation capabilities with scale and consistency of performance. Also highlighted as a key strength is the company's focus on nextgeneration digital solutions such as the Advanced Drug Development Platform that uses artificial intelligence and IoT for drug development and patient engagement.
"In a Business 4.0™ world, life sciences companies are actively embracing emerging digital technologies across the life sciences value chain to accelerate their growth and transformation agenda," said Debashis Ghosh, President, Life Sciences and Healthcare, TCS. "Our leadership position in Europe with this report and in North America in an earlier report, validate our strong relationships with our customers, contextual knowledge of the different markets we cater to, a consistent successful record with diqital use-cases and proactiveness in driving innovation using the Machine First Delivery Model (MFDM™) for our Life Sciences customers."
TCS partners with leading life sciences companies in leveraging next generation platforms and emerging technologies to drive innovation, gain speed-to-market, and drive internal efficiencies. The company offers a full set of digital transformation services and solutions including advisory services, predictive and prescriptive analytics, genomics research, advanced platform solutions, and cognitive business operations. Early investments in building capabilities in digital technologies in the form of reskilling the workforce, agile workplaces, and intellectual property have helped TCS gain significant scale and depth in the digital space.
TCS' experts in the life sciences domain work closely with solution architects to come up with innovative solutions that use a combination of user-friendly omnichannel front-end technologies, AI, IoT, Big Data analytics, cognitive computing capabilities, robotic process automation, and cloud to reimagine the life sciences value chain. The company's extensive portfolio of intellectual property- such as the Advanced Drug Development platform, Decision Fabric™ for drug safety and pharma, Connected Universe Platform, and Customer Engagement Platform - help customers achieve better speed to market and superior business outcomes.
"The European life sciences market is quite heterogeneous, with different regions and clusters exhibiting specific demand tenets. As their digital initiatives move from pilots to programs, life sciences enterprises in Europe are looking for more strategic engagements around specific themes. Service providers need to address these specific business and technology challenges, in the context of a post-GDPR world to create distinctive market impact. Leveraging its Business 4.0™ framework, TCS is able to stitch end-to-end deals, underpinned by digital technologies, to advance the modernization mandate for European life sciences organizations," said Jimit Arora, Partner, Everest Group.
"Our balanced portfolio of offerings in Life Sciences, continuous investments in intellectual property, domain expertise, contextual knowledge, and depth of digital capabilities, make us a preferred partner for life sciences customers in their Business 4.0™ journey," added Debashis Ghosh.
Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2080.1 as compared to the previous close of Rs. 2103.1. The total number of shares traded during the day was 102738 in over 5420 trades.
The stock hit an intraday high of Rs. 2122.9 and intraday low of 2048. The net turnover during the day was Rs. 213219240.
1 Life Sciences Digital in Europe - Service Provider Landscape with Services Peak Matrix™ Assessment 2018: Accelerating Transformation Despite Regulatory Complexity, Everest Group, September 2018