India’s Tata Consultancy Services (TCS) has been rated third most-valued IT services brand internationally in 2018-19, following Accenture and IBM, according to a report by Brand Finance. Four Indian IT services companies — TCS, Infosys, HCL and Wipro — clinched spots in the top-10 global tally.
Valued at $26.3 billion, Accenture took the name of the world’s most-valued IT services brand. The label was formerly held by IBM, which occupied the second place with a new value of $20.4 billion, according to the report.
“Maintaining steady in third place is India’s biggest IT services conglomerate, TCS, up 23 percent to $12.8 billion, with a worth bolstered from the brand’s tumultuous focus on the economy’s increased demand for electronic services,” it added.
Brand Finance said TCS is also the first Indian IT services brand to achieve success in the Japanese market and has placed itself as a pioneer in providing superior all-around customer expertise, leveraging artificial intelligence and autonomous automation throughout its transformation programmes.
Wipro entered the top-10 record for the very first time this year, said that the report, that was published in the World Economic Forum Annual Meeting in Davos, Switzerland.
“Up 25% to $4 billion, Wipro’s significant investments in digital transformation capabilities, niche acquisitions, and also a current new refresh, have propelled it to be the third fastest-growing brand in the section,” the report noted.
American manufacturer Cognizant (brand worth up 12 percent to $8.7 billion) and India’s Infosys (brand value up 8% to $6.5 billion) held onto their last year’s ranking of fourth and fifth positions, respectively.
“2018 was a year of celebrations at TCS, signaling the completion of five decades of industry-leading customer satisfaction, business performance, and neighborhood effect,” TCS Chief Marketing Officer Ravi Viswanathan said in a statement.
He added that the past year was characterized by landmarks and momentum for TCS, including reaching $100 billion in market capitalization and securing record-level new consumer ventures in digital services.