Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized with an overall Positive Rating in the recent Vendor Rating1 report by Gartner Inc, based on a holistic evaluation covering the company's Strategy, Product / Service, Pricing Structure, Technology / Methodology, Support / Account Management and Corporate Viability.
"Our market success is a result of our ability to anticipate our customers' business needs, use our contextual knowledge to design bespoke, differentiated solutions for them, and stitching together the different capabilities across TCS" said NG Subramaniam ('NGS'), Chief Operating Officer and Executive Director, TCS. "We believe the result of this Vendor Rating as a validation of our customer centric strategy, and the investments we have been making in research and innovation, intellectual property, workplace and workforce transformation."
The evaluation gave TCS a Strong rating for its Support / Account Management and for Corporate Viability. Additionally, TCS received a Positive rating for its Strategy, Product / Service, Technology / Methodology and Pricing Structure.
TCS reported a revenue of $20.93 billion in FY 2019, growing 11.4% in organic, constant currency terms. Growth has been particularly strong in the United Kingdom and in Europe, where it grew 22% and 17.88% respectively. The company has benefited significantly from expanding enterprise spends on technology-led product or service innovation, customer analytics and insights, and core transformation initiatives.
The company has been steadily launching new services to cater to different stakeholders within the enterprise, as well as new products and platforms. It has been systematically investing in research and innovation, taking up promising themes in each industry, and collaborating with domain experts to build innovative solutions that are proactively showcased to customers. Additionally, TCS has alliance partnerships with all the major technology providers, and works closely with them to launch and jointly market industry-specific solutions that leverage their technologies, and TCS' domain knowledge. All this and its Business 4.0'" thought-leadership framework, backed by innovative delivery concepts like the Location Independent Agile model and the Machine First™ Delivery Model have helped the company win several large, multi-year transformation engagements, resulting in a strong order book.
"Our customer-centric worldview keeps us rooted and guides us in everything we do. Our growth comes from continually looking for newer ways to create value for our customers, help them transform and succeed in a Business 4.0 world. We have also been consistently launching newer services, products and platforms, catering to the needs of a broadening set of stakeholders within the enterprise, and expanding our addressable market," added NGS.
Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2131.45 as compared to the previous close of Rs. 2176.1. The total number of shares traded during the day was 1132727 in over 16578 trades.
The stock hit an intraday high of Rs. 2175 and intraday low of 2090. The net turnover during the day was Rs. 2382402859.
1 Gartner 'Vendor Rating: Tata Consultancy Services' by Neil Barton, Sandra Notardonato, Cathy Tornbohm, DD Mishra, Patrick Sullivan, Susan Tan, Twiggy Lo, Susanne Matson, Chrissy Healey, James McGovern; June 17, 2019