TCS ranked as the fastest growing IT services brand in 2018

NewsPatrolling.com : ·         Company joins exclusive club of brands rated over US$ 10 billion in value

·         2018 report by Brand Finance names TCS as the fastest growing IT services brand by value, up 14.4% from last year to US $10.391 billion

MUMBAI, March 7, 2018: Tata Consultancy Services, a leading global IT services, consulting and business solutions organization, has been named as the fastest growing IT services brand in the world in an assessment done by Brand Finance, the world’s leading brand valuation firm.

According to Brand Finance IT Services 15 annual report for 2018, TCS now has a total brand value of US $10.391 billion – a growth of 14.4% from last year’s total of $9.081 billion, with an increase of $1.309 billion. The new value is the fastest incremental growth of all companies in the industry, and places TCS in the top three most valuable brands in the global IT services sector along with IBM and Accenture.

This puts TCS in a unique group of businesses with a brand valuation over the $10 billion mark, and TCS’ new brand value means the company now contributes over 73% to the value of the larger Tata brand – valued at US $14.236 billion and ranked #104 in the world rankings.

Brand Finance’s annual report analyses the brand value and brand strength of the 5000 largest brands across 38 sectors in the world in order to arrive at a list of the World’s most valuable brands. Brand Strength is derived by benchmarking brand related measures against competitors. Brand Strength is used to determine an appropriate stream of forecasted brand royalties, which is discounted to a net present value, the Brand Value.

“Last year TCS achieved a significant milestone, being ranked as one of the world’s top three IT services brands for the first time ever,” said David Haigh, CEO at Brand Finance. “This year, the company has consolidated that position even further by adding more than $1.3 billion to its value, which is a huge achievement for the company and its new CEO, who completes his first year in office this month. TCS’ forward-thinking approach to digital technologies, its growing brand presence in its key markets, paired with its core values of customer service, employee development and re-skilling has seen its brand value grow exponentially – so much so that it’s now the fastest growing brand in the IT services industry.”

Rajesh Gopinathan, CEO and Managing Director, Tata Consultancy Services said: “The growth we have demonstrated on brand leadership is a testament to our steadfast commitment to our clients, our people, and the communities we work in. The innermost core of our company values has always been our resolute focus on our clients and their success. We look forward to using the vast contextual knowledge we have built to further benefit our clients in their transformation journeys towards Business 4.0. As we refocus our company towards the new opportunities in the Business 4.0 era and mark the 50^thyear of the founding of TCS, I am certain that each one of our 390,000 employees worldwide will take great pride in TCS’ brand leadership within the industry.”