Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader in the Everest Group PEAK Matrix® for Application Transformation Services1.
According to the report, TCS' services encompass all the initiatives, processes and methods that are part of the enterprise digital business journey, leading to enhanced stakeholder value, customer experience and business growth. Its mature set of solutions and IP assets that help customers reach the desired transformed state by leveraging automation and AI, were cited as key strengths. The report goes on to say that TCS' willingness to co-invest with customers in long-term application transformation initiatives is acknowledged in the market.
"In a Business 4.0™ world, enterprises are launching large transformation programs to build new digital cores that support reimagined business models, address new market segments, and enhance customer experience. At the heart of these programs are application transformation services to simplify and modernize their IT landscape, embracing cloud and cloud-native architectures," said Suranjan Chatterjee, Global Head, Cloud Applications, Microservices, and API Practice, TCS. "Our positioning as a Leader in this report is a clear indicator of our extensive market presence and deep capabilities in this space, which is constantly reinforced by futuristic offerings, built using our rich domain knowledge gained across industries."
TCS' Application Transformation strategy is based on rich business contextual knowledge gained through decades of experience in managing the application ecosystem of global enterprises across industry verticals and diverse technology stacks. It is focused on three foundational capabilities:
- Transform the Core - Leverage TCS' extensive knowledge in large-scale digitalization along with horizontal and vertical integration of enterprise systems in core business operations.
- Focus on Experience and Outcomes - Shift the core business capability from product-centricity to a hyper-personalized customer experience and a purpose-driven growth outcome.
- Develop the Ecosystem - Connecting with the right ecosystem partners to drive differentiated digital capabilities and fuel new business models.
TCS' Application Transformation Services consist of two primary streams:
Consulting Services: Assessment of enterprise maturity for application modernization, portfolio analysis for cloud migration, reference architecture design, evaluation for microservices, design thinking for UX, and business case /cloud roadmap creation to support a balanced 'modernize-while-you-migrate' approach.
Modernization Services: Includes the analysis of monolithic applications to define the functional subdomains for decomposition, extraction of business logic and prototyping of relevant microservices. Additionally, a domain-driven approach is used to design functional enhancements, new technology enabled features and business capabilities, which are then crafted as a bouquet of microservices, APIs and a modern UX.
TCS MasterCraft TransformPlus™, an intelligent automation product, significantly accelerates end-to-end application modernization and supports a wide range of legacy and modern programming languages. TCS has used TransformPlus to analyze more than 1 billion lines of legacy code, extract business rules and document them for business reference and decision-making.
Another accelerator is TCS iCMC™, a decision support engine that helps customers plan the sequencing of applications for modernization and cloud migration, considering the application estate, technology stack, licenses and business considerations. TCS iCMC has helped enterprises speed up pre-migration cloud assessment and decisions by 75 percent.
Additionally, TCS leverages its intelligent Modernization Factory to accelerate and monitor the software construction through its complete lifecycle of build, test, continuous integration and deployment on a cloud platform, which evolves across a staggered and controlled transformation. Other accelerators include the TCS Modernization Propeller, with an extensive library of pre-defined industry-specific microservices and API templates built using TCS' deep domain knowledge, an integrated MS/API Development Factory and a holistic Business Ecosystem Integration Services framework.
"Enterprises are looking to transform their application estates as a precursor to achieving meaningful digital transformation at scale. To unlock value from these investments, enterprises are looking at this transformation as a journey and not a specific set of initiatives. TCS' range of capabilities, supported by extensive solutions and IP, helps clients reduce time-to-value as they look to transform their application landscapes. In particular, co-investing with clients in long-term digital transformation projects has helped TCS achieve client satisfaction and stickiness," said Nitish Mittal, Vice President, Everest Group.
"Our differentiated approach to application transformation, driven by our deep domain expertise across multiple industries, Machine First™ approach, and extensive portfolio of intellectual property and proprietary accelerators, results in enhanced speed to market, reduced program risk and superior customer experience," added Suranjan Chatterjee.
Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2194.6 as compared to the previous close of Rs. 2215.3. The total number of shares traded during the day was 58248 in over 3581 trades.
The stock hit an intraday high of Rs. 2228.85 and intraday low of 2190.1. The net turnover during the day was Rs. 128464542.
1 Application Transformation Services PEAK Matrix Assessment 2020, Nitish Mittal, Everest Group, December 2019