MUMBAI: Tata Consultancy Services (TCS) announced on Wednesday that it has been accredited as the fastest growing brand in the IT services sector over the past decade.
The company’s brand value increased by 447 percent — from 2.34 billion dollars in 2010 to 12.8 billion dollars in 2019 – according to Brand Finance, the world’s leading brand valuation firm.
The report released at the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland, said TCS continues to be among the top three global IT services brands. Its brand value increased by 23 percent over the previous year, and its brand rating was upgraded from AA+ to AAA-.
This marks another strong year of performance for TCS across multiple global markets. Moreover, TCS’ 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 of TCS.
“The past year was characterized by momentum and milestones for TCS, including reaching $100 billion in market capitalization, securing record-level new customer partnerships in digital services, and our Business 4.0 framework resonating with customers across industries and the globe.”