Tata Consultancy Services (TCS) brand value 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, reported in a news piece.
According to Brand Finance, which is the world’s leading brand valuation firm, TCS has also consolidated its position among the top 3 most valuable brands in the IT services sector.
Brand Finance suggested “IT Services 25 2021 report” claims TCS grew in a challenging environment when the brand value of IT services companies collectively dropped by 3 percent.
TCS has moved ahead of its competitors with a 10 percent growth over the prior year in the top 3 category.
The CEO of Brand Finance, David Haigh said, “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.”
David added, "2021 will, undoubtedly, be another great year for TCS and its brand."
The seamless adaptation for working new ways and agility increase for engendered by location-agnostic remote working models have increased execution on the ground and enhanced customer satisfaction, thereby helping TCS win more business and gain market share (mentioned in the report).
The CMO of TCS, Rajashree said, “This recognition of our brand strength is a stellar reaffirmation of the continued trust that our customers have placed in us over the years. 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".
Recognized as a ‘Superbrand’ in the US and the UK, based on the strength of its brand reputation in channels, business performance industry leading job creation, scale of employee training and development, and dedication to the nationwide corporate social responsibility initiatives, TCS is leading the business forefront.
