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TCS Ranked as #1 Engineering Services Provider of the Year by Everest Group

Posted On : 2023-10-20 14:25:19( TIMEZONE : IST )

TCS Ranked as #1 Engineering Services Provider of the Year by Everest Group

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been rated number one in the 2023 Engineering Service Provider of the Year awards by Everest Group. TCS received this recognition for the second consecutive year. Additionally, TCS was ranked number four in the Everest Group Engineering Services Top 10 for 2023, up from number nine in the 2022 report.

The Engineering Service Provider of the Year ranking is a result of the consistent top performance and leadership position TCS received across all five engineering services assessments - Industry 4.0, Digital Twins, Connected Medical devices, Software Products and Digital Products.

In Industry 4.0, TCS' ability to provide end to end services - from consulting and design to managed services and client support, its dedicated investments in creating strategic partnerships, emerging technologies and innovation labs were highlighted as strengths. The Digital Twins Services assessment highlighted that TCS has a strong set of digital twin specific solutions with focus on embedding explainable AI. The Connected Medical Devices report recognized TCS' strong Intellectual Property (IP) play, good domain expertise, and willingness to co-innovate with clients, as its key differentiators.

Cited as key strengths in the Software Product Engineering assessment are TCS' ability to drive complex digital transformation projects, investments towards innovation, and strong partnership ecosystem. In addition to this, the Digital Product Engineering assessment highlighted TCS' dedicated investments in forming strategic partnerships spanning embedded, hardware, software, and electronics, establishing labs across telematics, infotainment systems and connected vehicles, and developing IP and solutions around cybersecurity, AR/VR, video analytics and IoT.

"Customers across industries are transforming their products into software-driven, AI-enabled intelligent products and driving their servitization journey. TCS helps its customers to launch sustainable, autonomous and software driven intelligent products at speed, leveraging its expertise in digital engineering, connected IoT solutions, innovation labs, deep domain knowledge across industries and customer centric approach," said Regu Ayyaswamy, Global Head, Internet of Things & Digital Engineering, TCS. "This number one position is a reflection of our market success in combining state-of-the-art technologies with engineering services to make enterprises future ready."

TCS offers end-to-end engineering services leveraging its proprietary solutions, strong partner ecosystem, and exceptional domain expertise. Its comprehensive portfolio of offerings covers the entire product lifecycle and helps clients transform their operations, accelerate product innovation, enhance service delivery, adopt new business models and transform customer experiences.

At TCS, continued investment in research and innovation has led to a rich portfolio of intellectual property. Key solutions include:

TCS Neural Manufacturing™: Enables enterprises to become cognitive entities, build connected value chains, and design purpose-centric partner ecosystems.

TCS InTwin™: A customized AI-powered platform which enables organizations to accelerate development and deployment of digital solutions. It unlocks the power of knowledge, data and engineering sciences to make industrial plants intelligent, responsive and future-ready.

TCS Clever Energy™: The award-winning platform leverages IoT, AI, machine learning and digital twins to help organizations reduce energy consumption, decrease associated carbon emissions and save energy costs in commercial and office buildings, retail stores, warehouses, and factories.

TCS also offers medical devices engineering services including knowledge-based engineering, digital manufacturing, product lifecycle management, technical publications, unique device identification, engineering process outsourcing, plant solutions and manufacturing operations, asset management, remote monitoring, and diagnostics.

Its 5G engineering services span product engineering, network engineering, and solution engineering, and spanning strategy and consulting, design, implementation, testing, and support services. TCS provides software product engineering services from the product inception stage to its global release, leveraging its strong product engineering ecosystem to launch new products faster and optimize product sustenance.

Akshat Vaid, Partner, Everest Group, said, "TCS offers comprehensive portfolio of engineering services across multiple domains including software products, digital products, digital twins, industry 4.0, and connected medical devices as observed through our PEAK Matrix® assessments conducted in CY'22. Their investments towards establishing labs across telematics, infotainment systems and connected vehicles, and developing IP and solutions around cybersecurity, AR/VR has helped them in delivering complex transformation projects at scale. They have been able to showcase industry leading competence in cloud, embedded and network engineering and, are acknowledged by clients for flexibility in pricing and adapting to business needs."

Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 3454.75 as compared to the previous close of Rs. 3487.15. The total number of shares traded during the day was 216685 in over 4389 trades.

The stock hit an intraday high of Rs. 3478.35 and intraday low of 3451.85. The net turnover during the day was Rs. 750405517.00.

Source : Equity Bulls


TataConsultancyServices INE467B01029 TCS EverestGroup