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, for the second time in a row.
According to the report, clients value TCS' co-innovation approach in large scale application services engagements which helps TCS win large deals that include modernization in scope. Highlighted as strengths are TCS' significant investments in building a strong portfolio of application transformation solutions, underpinned by a mature suite of flagship IPs and verticalized solutions. The report also said that clients appreciate TCS' talent management and technical competence of delivery engineers.
"Enterprises across the globe are embracing cloud and other digital technologies to reimagine business models, address new market segments, enhance customer experience and differentiate themselves. Key to success in this journey is the ability to quickly modernize the existing application and data estate while seamlessly innovating and deploying newer cloud-native systems," said Krishnan Ramanujam, Business Group Head, Business and Transformation Services, TCS. "Our Leadership positioning in this space for the second time in a row, is a testament to our vision, innovation, extensive presence, and the resultant market impact."
TCS' Application Transformation strategy is guided by its Multi-Horizon Transformation to Purpose-led Growth thought leadership framework. This covers:
- Building a Digital Core - Leverage TCS' extensive knowledge in large-scale digitalization to modernize legacy applications and create a new cloud-based estate that will serve as a resilient, secure and scalable digital foundation for innovation and growth.
- Innovation - Build new systems that leverage the native capabilities of the cloud to pursue innovative, new business models, launch new products and services, deliver hyper-personalized customer experience, and drive differentiation.
- Leverage Innovation Ecosystems - Co-innovate with ecosystem partners cutting across industry boundaries to create purpose-led augmented offerings enabled by the seamless real-time exchange of data among the partners.
TCS' Application Transformation Services consist of two primary streams:
- Consulting Services: TCS carries out cloud and digital maturity assessments to identify gaps and derive an actionable modernization roadmap. It also conducts strategy and visioning workshops to establish the target operating model that covers reference architecture design, evaluation for microservices and design thinking for UX, to support a balanced 'modernize-while-you-migrate' approach.
- Application Portfolio Transformation: TCS helps customers decide whether to retain, retire, replace, or rebuild their legacy applications and subsequently whether to rehost, refactor, or replatform while migrating to the cloud. The new applications are built harnessing digital technologies such as advanced data analytics, AI and ML, AR & VR, etc. Further, business processes are analyzed to identify harmonization opportunities, which are then crafted as a bouquet of microservices, APIs and a modern UX.
A key differentiator is TCS' comprehensive portfolio of intellectual property, tools, and products. 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.
The Cloud Innovation Garage leverages IoT, AI, ML and advanced analytics and cloud as well as TCS' domain knowledge to drive innovation. Other accelerators include HyperBreeze Container Service Offering, Cloud Mutagen, TCS Cloud Exponence, Jile™, iCMC™, Modernization Propeller, and ZippedAgile.
TCS has invested in setting up dedicated strategic cloud units that provide a full complement of end-toend services around each of the major hyperscale clouds. TCS' change management advisory offerings facilitate full participation by all stakeholders in the transformation journey, reducing project risks and delivering superior outcomes.
"Investments in application estate transformation have accelerated in recent times as a precursor to meaningful digital transformation," said Alisha Mittal, Practice Director, Everest Group. "TCS' coinnovation approach combined with the mature set of verticalized solutions have helped it deliver largescale modernization engagements. Its focus on modernization-led cost savings and focused business outcomes resonate well with the clients. All of which contributed to its designation as Leader in the Everest Group PEAK Matrix® for Application Transformation Services."
"Our deep capabilities in application transformation, futuristic offerings built using our rich domain knowledge gained across industries, and investments in innovation and IP make us the preferred partner to our customers in their purpose-led growth and transformation journey," said Krishnan Ramanujam.
Shares of Tata Consultancy Services Ltd. was last trading in BSE at Rs. 3635.85 as compared to the previous close of Rs. 3557.45. The total number of shares traded during the day was 127876 in over 8715 trades.
The stock hit an intraday high of Rs. 3672.5 and intraday low of 3562.95. The net turnover during the day was Rs. 464382117.
1 Application Transformation Services PEAK Matrix® Assessment 2021, Everest Group®, July 2021