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 2019 IDC MarketScape for Worldwide Digital Transformation Service Providers for Utilities1.
The IDC MarketScape assessed 17 global service providers on a range of parameters across two dimensions: capabilities and strategies. These parameters included depth and breadth of service offerings, customer satisfaction, market adoption, value creation, offerings strategy, partnerships, and innovation. According to the report, a balanced mix of consulting, systems integration, application development, and outsourcing makes TCS a good choice for long-term partnerships in the domain of DX, and that this is reflected in utility customers' solid perception of the company's service delivery and customer service quality.
"We have been leveraging our Business 4.0™ thought leadership framework and deep contextual knowledge to help our customers reimagine their business models, top into new revenue streams and enhance customer experience. At the same time, we are transforming their core to give them a leaner, more agile and intelligent operations stack that enables faster innovation," said Sudheer Warrier, Global Head, Utilities Business, TCS. "This leadership position is a recognition of the sustained investments we have made in building deep capabilities in the Utilities domain, in research and innovation, and the resultant market success we have seen."
TCS has been partnering with leading utilities across the world to help them pursue their growth and transformation programs, innovate, and optimize their operations using next generation technologies. The company's differentiated offerings and strong relationship focus have helped it achieve spectacular market success and build up a large global footprint in the Utilities sector in a relatively short time.
TCS offers utilities a full suite of services spanning consulting and system integration, digital transformation, and cognitive business operations. A dedicated Utilities Transformation and Innovation group continually looks at business problems specific to the Utilities domain, and designs innovative solutions such as connected assets or a connected workforce, that harness the combinatorial power of emerging technologies such as artificial intelligence, Internet of Things and cloud to fully digitize and transform the utilities value chain.
With customer retention becoming a top strategic priority for utilities, TCS' holistic approach to customer journey orchestration has resulted in differentiated outcomes for customers. The company provides a comprehensive portfolio of services and offerings around personalized experience management spanning digitalization strategy, design, front office transformation, analytics and insights, digital marketing, and customer service.
Customers have been engaging TCS to scale up their innovation programs, leveraging its extensive investments in domain-specific research and innovation that have resulted in intellectual property around asset performance, connected home and vegetation management. Additionally, TCS' Co-Innovation Network, consisting of technology companies, start-ups and academia, provides a ready ecosystem for utilities to plug into.
"Our customer-centric strategy and deep domain knowledge have helped us build out a comprehensive set of offerings tailor-made for utilities embarking on a digital transformation journey and helped us emerge as an integrated and holistic provider of transformational services across the entire utilities value chain," added Sudheer Warrier.
Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2197.65 as compared to the previous close of Rs. 2215.8. The total number of shares traded during the day was 56482 in over 3971 trades.
The stock hit an intraday high of Rs. 2231.7 and intraday low of 2190.85. The net turnover during the day was Rs. 124497763.
1 IDC MarketScape: Worldwide Digital Transformation Service Providers for Utilities 2019 Vendor Assessment, doc #EUR144397319, July 2019