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TCS' brand value up by $1.4bn, highest in IT services in 2020
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SME Times News Bureau | 26 Jan, 2021
The brand value of Tata Consultancy Services (TCS) grew by $1.4 billion
in 2020 over the prior year which is the highest absolute growth among
the 25 companies assessed in a pandemic-hit year, a new report said on
Tuesday.
TCS has further consolidated its position among the top 3
most valuable brands in the IT services sector, according to Brand
Finance, the world's leading brand valuation firm.
According to
the Brand Finance ‘IT Services 25 2021' report, TCS grew in a
challenging year when the brand value of IT services companies
collectively dropped by 3 per cent.
At 10 per cent growth over the prior year, TCS has outperformed its peers in the top 3 category.
"With
what was a very tough 2020, led so ably by its CEO Rajesh Gopinathan,
TCS has excelled itself once again. Along with 10 per cent growth in its
brand, its market cap also hit pole position in its industry and it is
increasingly closing in on the top two in the IT services sector table,"
said David Haigh, CEO, Brand Finance.
"2021 will, undoubtedly, be another great year for TCS and its brand."
The
seamless adaptation to new ways of working and the increased agility
engendered by location-agnostic remote working models have led to faster
execution on the ground and enhanced customer satisfaction, helping TCS
win more business and gain market share, the report mentioned.
"This
recognition of our brand strength is a stellar reaffirmation of the
continued trust that our customers have placed in us over the years,"
said Rajashree R, CMO, TCS.
"We are proud and excited to embark
on the next phase of our growth, building on our beliefs, and harnessing
the passion, dedication and strength of our 469,000 associates who are
the true custodians of Brand TCS".
TCS was recognised as a
‘Superbrand' across the US and the UK, based on the strength of its
brand reputation across channels, business performance, industry-leading
job creation, scale of employee training and development, and
dedication to nationwide corporate social responsibility initiatives.
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