Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been named a Leader and Star Performer in the Everest Group PEAK Matrix® for Healthcare Provider Digital Services1.
According to the report, strong focus on tangible business outcomes has helped TCS win end-to-end transformation deals with large healthcare provider accounts. Cited as a key strength is TCS' staunchly organic growth strategy to expand its IP play, even when its global/domestic rivals went on an acquisition spree. The report also highlights the company's investments in digital labs, innovation centers, and CoEs covering automation, AI, IoT, DevOps, etc., and training of resources in developing digital capabilities.
"Healthcare providers are at an inflection point for the digital generation leap. Progressive healthcare providers are adopting Business 4.0™ behaviors and technology pillars - agile, automation, intelligent and cloud - to reimagine patient care by moving from physical to virtual mediums and integrating patient experience," said Nitin Kumar, Global Head, Healthcare Business Unit, TCS. "Our positioning as a Leader and Star Performer is a validation of our strong vision and ability to drive large scale digital transformations for healthcare providers."
TCS partners with leading healthcare companies to enable their digital transformation journeys by leveraging its Business 4.0™ framework and Machine First™ Delivery Model (MFDM™). It offers a full set of offerings including digital services, IT transformation and operations, consulting, and domain services to help healthcare companies elevate stakeholder experience, introduce new products, enable ecosystem partnerships and ensure the highest level of quality and compliance in operations.
TCS' rich industry experience, early investments in reskilling the workforce, building agile workplaces, developing intellectual property and dedicated healthcare innovation labs, have made it the preferred transformation partner for customers looking to build innovative solutions to solve complex business challengesin the healthcare domain. In addition, TCS' Operating Model Transformation framework, the TCS Pace Port™ NY that drives co-innovation, and its COINTM ecosystem have boosted its standing as an innovation partner in the healthcare industry.
"Healthcare providers are finding it hard to navigate the pandemic due to a large technical debt and dated legacy systems. They are balancing their cost take-out initiatives with investments in digital transformation to stay financially afloat and prepare for operations in a post-pandemic landscape," according to Chunky Satija, Practice Director, Everest Group. "While the immediate focus has shifted to virtual care, they are also investing in improving patient and clinician experience. TCS' investments in digital labs, innovation centers, and CoEs, which cover the entire gamut of digital technologies, have allowed it to develop innovative and comprehensive solutions that improve the care delivery experience and enhance provider outcomes. This has enabled TCS to differentiate itself and establish itself as a Leader on Everest Group's Provider Digital Services PEAK Matrix® Assessment 2020."
"With our deep contextual and domain knowledge, customer-centricity, and investments in research and innovation, we help customers become purpose-driven, resilient and adaptable," added Nitin Kumar.
Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2255.5 as compared to the previous close of Rs. 2256.7. The total number of shares traded during the day was 64899 in over 4087 trades.
The stock hit an intraday high of Rs. 2299.45 and intraday low of 2250.5. The net turnover during the day was Rs. 147069444.
1 Healthcare Provider Digital Services PEAK Matrix® Assessment 2020, Chunky Satija, Everest Group, June 29, 2020