January 23, 2019
TCS named fastest growing brand of the decade in IT services
- Tata Consultancy Services’ brand value increased by 447 percent, from $2.34 billion in 2010 to $12.8 billion in 2019
- Brand rating upgraded from AA+ to AAA-
- Rajesh Gopinathan named one of the Top 100 Global CEOs in inaugural Brand Guardianship Index
Davos | Mumbai: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organisation, announced that it has been accredited as the fastest growing brand in the IT services sector over the past decade. TCS’s brand value increased by 447 percent, from $2.34 billion in 2010 to $12.8 billion in 2019 — according to Brand Finance, the world’s leading brand valuation firm, in its 2019 IT services rankings.
According to this year’s Brand Finance report, released at the World Economic Forum Annual Meeting in Davos, Switzerland, TCS continues to be among the top three global IT services brands. Its brand value increased by 23 percent over the prior year, and its brand rating was upgraded from AA+ to AAA-, marking another strong year of performance for TCS across multiple global markets. Moreover, TCS’s chief executive officer, Rajesh Gopinathan, was named as one of the top 100 global CEOs in a new Brand Guardianship Index that reflects the role of the CEO as a brand custodian. The index is based on Brand Finance’s analysis of marketing investments, stakeholder equity and business performance of the world’s top companies.
“2018 was a year of celebrations at TCS, marking the completion of five decades of industry-leading customer satisfaction, business performance and community impact,” said Ravi Viswanathan, chief marketing officer, TCS. “The past year was characterised by momentum and milestones for TCS, including reaching $100 billion in market capitalisation, securing record-level new customer partnerships in digital services, and our Business 4.0 framework resonating with customers across industries and the globe.”
“The brand value of TCS increased in this year’s report by 23 percent, to $12.8 billion, bolstered by the company’s disciplined focus on the market’s increased demand for digital services,” said David Haigh, CEO of Brand Finance. “TCS has positioned itself as a leader in providing a superior, all-round customer experience, leveraging the likes of artificial intelligence and robotic automation across its transformation programmes.”
Over the past decade, TCS has significantly built its presence and strengthened its brand across numerous global markets. It became a strategic partner to the World Economic Forum and European Business Summit, and hosted a range of annual industry forums for C-suite customers and partners. TCS also significantly invested in a comprehensive portfolio of brand sponsorship platforms, from the TCS New York City Marathon and TCS Amsterdam Marathon, to several other running events in the United Kingdom, Sweden, Japan, Singapore, Australia, India and the Philippines.
Together, these annual events engage more than 10,000 leading business executives. TCS’s global brand awareness with these C-level executives has doubled to 84 percent in the last decade, in a study done by ITSMA research. Moreover, TCS has strengthened its partnerships with major global academic institutions, most recently through the funding of a TCS Hall at Carnegie Mellon University and the Tata Innovation Center at Cornell Tech.