According to Brand Finance, the world’s leading brand valuation organization, Tata Consultancy Services has become the second most valuable brand in the IT services sector worldwide. TCS’ brand value increased by $1.844 billion (12.5 percent) to $16.786 billion in the last year, according to the Brand Finance 2022 Global 500 IT Services Ranking study. This expansion may be credited to the company’s investments in its brand and people, as well as solid financial performance and consumer equity.
TCS has invested in major brand sponsorships and made persistent, long-term efforts to boost its brand value during the last decade. It adds the TCS London Marathon and the TCS Toronto Waterfront Marathon to its 11 running sponsorships in 2021, as well as announcing a collaboration with the Jaguar TCS racing team in Formula-E motorsports and a golf partnership with the Dutch Open.
As it embarks on its next decade of transformation-led growth, the company has also made major investments in its brand, building its Building on Belief brand strategy to communicate its goal and relationship with customers. Its improved score was aided by its employer brand and reputation for employee care.
“TCS continues to rise up the IT services rankings to become the second most valuable brand in the sector for the first time. This great achievement is the result of strong financial growth, strong and continued investments in a new global brand positioning last year, further investment in sponsorship platforms such as TCS London Marathon, TCS Waterfront Marathon in Canada, but also new sports such as golf and a move into Formula-E with the Jaguar TCS Racing Team. I also see TCS’ focused commitment to serving the needs of its employees, customers, and communities, which always, in the long run, drives brand performance. Congratulations to TCS,”David Haigh, CEO, and Chairman, Brand Finance, said.
“We are delighted and proud to be named among the top two in the Brand Finance 2022 Global 500 IT Services Ranking report. The ranking is a landmark milestone for us and a validation of our increased market relevance and focuses on innovation and transformation of our clients, their customers, and the larger community. This recognition is also a testimony to our employees, who are our true brand custodians, and the belief with which they have rallied for us over the years. 2021 was a historic year for Brand TCS as we launched our new brand positioning Building on the belief which captures our aspirations and convictions. With our differentiated ‘customer-focused’ strategy, superior execution, investments in building newer capabilities, and sustained focus on research and innovation over the last decade, we are indeed well-positioned to capitalize on the multi-year technology transformation opportunities that lie ahead,”said Rajashree R, CMO, TCS.
TCS’ continued efforts in developing deep skills in new technologies, research and innovation, intellectual property, and customer-specific contextual expertise have positioned it as a preferred growth and transformation partner for leading organizations throughout the world. TCS achieved a major milestone in 2021, surpassing $25 billion in revenue for the first time, with an industry-leading operating profit margin of over 25%.