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 Services1.
The report analyzed the digital services capabilities of 23 IT service providers to the life sciences sector globally. It highlights TCS' credible digital transformation capabilities with scale and consistency of performance. Also cited as a key strength is the company's focus on next-generation digital solutions such as Advanced Drus Development (ADD) and Connected Clinical Trials leveraging artificial intelligence, smart analytics and IoT for drug development and patient engagement.
"Technologies such as AI and IoT are transforming the drug discovery and development value chain and helping life sciences companies accelerate their product innovation," said Debashis Ghosh, Business Group Head, Life Sciences and Healthcare, TCS. "Our consistent leadership positioning in various analyst assessments is a reflection of our vision, capability, innovation efforts and the resultant market success."
TCS partners with leading life sciences companies to enable their digital transformation journey by leveraging its Business 4.0™ framework and Machine First™ Delivery Model (MFDM™). TCS offers a full set of digital transformation services and solutions including advisory services, predictive and prescriptive analytics, genomics research, advanced platform solutions, digital content factory, digital marketing and cognitive business operations. Early investments in re-skilling the workforce, building agile workplaces, and developing intellectual property have helped TCS gain significant scale and depth in digital technologies.
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/wearables, big data, cognitive computing capabilities, RPA, blockchain and cloud to reimagine the life sciences value chain. The company's extensive portfolio of intellectual property - including the award-winning ADD platform, Decision Fabric™ engine, Real World Evidence platform, and Translational Research Platform - helps customers achieve better speed to market and superior business outcomes. Additionally, hosting thought leadership forums such as the ADDVantage Cross Pharma Meeting, has boosted TCS' standing in the life sciences industry.
"Challenges such as the complexity and high cost of drug development and increased time-to-market for drugs confront life sciences enterprises today. Additionally, the expectations from life sciences firms to advance the value-based care conversation is amplifying the focus on outcome-based contracting. To overcome these challenges, enterprises are prioritizing the adoption of digital technologies with a focus on scaling technology proliferation and core business outcomes. With its Machine First Delivery Model™ and its Business 4.0™ framework, TCS provides a structured approach to digital transformation, led by a focus on core products, innovation labs, and creative engagement models to help scale innovation," said Nitish Mittal, Vice President, Everest Group.
"With our contextual knowledge, a consistent successful record with digital use-cases, intellectual property, and co-innovation partners in the Life Sciences clinical eco-system, we drive our customers' Business 4.0™ journeys," added Debashis Ghosh.
Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2080 as compared to the previous close of Rs. 2058.85. The total number of shares traded during the day was 44798 in over 3631 trades.
The stock hit an intraday high of Rs. 2087 and intraday low of 2054.75. The net turnover during the day was Rs. 93093638.
1 Life Sciences Digital Services - Service Provider Landscape with Services PEAK Matrix™ Assessment 2019, Abhishek Singh, Nitish Mittal, Chunky Satija, Pranav Kumar, Nisarg Shah, September 13, 2019