CFOtech UK - Technology news for CFOs & financial decision-makers
Story image
Tata Consultancy Services ranked second most valuable IT brand in global list
Thu, 18th Jan 2024

Tata Consultancy Services (TCS), a global technology provider, has been rated as the second most valuable IT services brand, according to the 2024 Global 500 IT Services Ranking by Brand Finance. The evaluation saw the company's value surge to $19.2 billion, witnessing an impressive 11.5% year-on-year growth.

This notable surge was driven by TCS's global leadership in AI-readiness and sustainability. Consequently, TCS managed to achieve a $2 billion incremental growth, the highest growth recorded among the top 25 leading IT firms worldwide.

"TCS has shown outstanding growth, increasing its brand value by more than anyone else in its industry. This achievement reflects their commitment to innovation and market leadership," commented David Haigh, CEO and Chairman, Brand Finance. It was also pointed out that maintaining an AAA- brand rating while improving their Brand Strength Index from 82 to 84 signals TCS's strategic excellence.

Over the past decades, TCS has bolstered its market position with significant investments to extend its global brand footprint. TCS's innovative initiatives have included marking a strong presence at key industry and business forums, amplifying its thought leadership and authority in digital channels, social media, and industry analyst reports.

As part of their branding strategy, TCS has built the world's largest portfolio of 12 marathon and running platforms sponsorships, including iconic events such as the TCS New York City Marathon, the Tata Mumbai Marathon, and TCS Amsterdam Marathon, and more recently, adding the TCS London Marathon and the TCS Toronto Waterfront Marathon.

"Over the past decades, we have made a concerted effort to make the TCS brand more global using a range of strategic marketing actions," said Abhinav Kumar, Chief Marketing Officer at TCS. He explained that part of TCS's vision is to use the full potency of their brand platforms to shape a more sustainable future and strategically position TCS as a leader in Artificial Intelligence and other emerging technology areas.

TCS’s AI strategy focuses on strengthening capabilities across its value chains and aiding customers in realising AI's transformative potential. Over 150,000 employees are now trained in GenAI competencies. Furthermore, with initiatives such as the AI Experience Zone and the creation of a digital twin of a marathon champion's heart, TCS actively explores the potential of AI in creating innovative solutions.

Committing to sustainability, TCS aims to achieve Net Zero Emissions by reducing its absolute greenhouse gas emissions by 2030. In line with this, TCS has developed the ReScore app, in collaboration with the Council for Responsible Sport, to help sports organisations measure their sustainability performance. TCS also supports the Jaguar TCS Racing team, the world's first all-electric racing series, illustrating its dedication to fostering sustainable mobility.

According to the 2024 Global 500 IT Services Ranking by Brand Finance, TCS stands as the second most valuable IT services brand, with a brand worth of $19.2 billion, an increment of 11.5%. This brings TCS ahead of other IT giants such as Infosys, IBM Consulting, and Capgemini.