Indian multinational IT service, consulting company TCS is third most - valued IT company in the world
Tata Consultancy Services, a leading global IT service, consulting and business solutions organization, after being named as the fastest growing IT services brand in the world in an assessment done by Brand Finance, has ranked third most valued IT services brand globally in 2018-2019.
According to a report, IBM which topped the list has now been surpassed by Accenture with the valuation of $23.6 billion while IBM took the second place having its valuation of $20.4 billion.
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.
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 50th year 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.”
What is brand finance report and what does it depict?
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 and that is how it gives rankings to the companies based on the company's brand value.