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Tata Consultancy Services

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Tata Consultancy Services (TCS) is an Indian multinational information technology and consulting company, headquartered in Mumbai. It is a part of the Tata Group and operates in 150 locations across 46 countries. It is the second-largest Indian company by market capitalization. In 2012, it was the world's second-largest user of U.S. H-1B visas.[7]

Tata Consultancy Services
Company typePublic
ISININE467B01029
IndustryInformation technology
Consulting
Outsourcing
Founded1968; 56 years ago (1968)
FounderJ. R. D. Tata
HeadquartersMumbai, India
Area served
Worldwide
Key people
Natarajan Chandrasekaran
(Chairman)
K. Krithivasan[1]
(CEO)
RevenueIncrease ₹245,315 crore (US$29 billion)[2] (2024)
Increase ₹61,997 crore (US$7.4 billion)[2] (2024)
Increase ₹46,099 crore (US$5.5 billion)[2] (2024)
Total assetsIncrease ₹146,449 crore (US$18 billion)[3] (2024)
Total equityIncrease ₹91,319 crore (US$11 billion)[3] (2024)
Number of employees
601,546[4] (March 2024)
ParentTata Group
Subsidiaries
Websitewww.tcs.com
Footnotes / references
[5][6]

As of 2021, it was ranked seventh on the Fortune India 500 list.[8] In September 2021, TCS recorded a market capitalization of US$200 billion, making it the first Indian IT tech company to do so.[9][10][11][12][13] In 2016–2017, parent company Tata Sons owned 72.05% of TCS[14] and more than 70% of Tata Sons' dividends were generated by TCS.[15]

History

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1968–2005

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Tata Consultancy Services Limited, originally known as Tata Computer Systems, was established in 1968 by Tata Sons Limited.[16] The company's initial contracts involved providing punched card services to its sister company TISCO (now Tata Steel), developing an Inter-Branch Reconciliation System for the Central Bank of India,[17] and offering bureau services to the Unit Trust of India.

In 1975, TCS implemented an electronic depository and trading system named SECOM for Swiss company SIS SegaInterSettle. It also developed System X for the Canadian Depository System and automated the Johannesburg Stock Exchange.[18] TCS also partnered with the Swiss firm TKS Teknosoft, which it later acquired.[19]

In 1980, TCS established India's first dedicated software research and development center, the Tata Research Development and Design Centre (TRDDC), located in Pune.[20] The following year, in 1981, it created India's first client-dedicated offshore development centre, established for Tandem.

Anticipating the Y2K bug and the introduction of the unified European currency (Euro), Tata Consultancy Services developed a factory model for Y2K conversion. The company also created software tools to automate the conversion process and facilitate implementation by third-party developers and clients.[21] In late 1999, TCS introduced Decision Support System (DSS) solutions to the domestic market under the leadership of Corporate Vice President and Transformation Head Subbu Iyer.[22] In 1999, the company also registered its first tagline, "Beyond the Obvious."[23][24]

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2005 to 2016

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On 25 August 2004, TCS became a publicly listed company.[25][26]

In 2005, TCS became the first India-based IT services company to enter the bioinformatics market,[27] and in the same year, it changed its tagline from "Beyond the Obvious" to "Experience Certainty".[28] In 2006, TCS developed an ERP system for the Indian Railway Catering and Tourism Corporation.[29] By 2008, its e-business operations were generating over US$500 million in annual revenue.[30][31]

In 2011, TCS entered the small and medium enterprises market with cloud-based solutions.[32] On the final trading day of 2011, it surpassed RIL to achieve the highest market capitalization of any India-based company.[33] In the 2011–12 fiscal year, TCS achieved annual revenues exceeding US$10 billion for the first time.[34]

In May 2013, TCS was awarded a six-year contract valued at over ₹11 billion (US$130 million) to provide services to the Indian Department of Posts.[35] In 2013, the company moved from 13th to 10th place in the League of top 10 global IT services companies.[36] In July 2014, it became the first Indian company to exceed ₹5 trillion (equivalent to ₹8.0 trillion or US$96 billion in 2023) in market capitalization.[37][38]

In January 2015, TCS ended Reliance Industries Limited's 23-year dominance as India's most profitable company.[39]

2017 to Present

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In January 2017, TCS announced a partnership with Aurus, a payments technology company, to deliver payment solutions for retailers through TCS OmniStore, a pioneering unified store commerce platform.[40] The same year, TCS China entered into a joint venture with the Chinese government.[41]

In March 2018, Tata Sons sold TCS shares worth $1.25 billion in a bulk transaction.[42]

In 2019, TCS received four Stevies at the American Business Awards.[43]

On 8 October 2020, TCS surpassed Accenture in market capitalization, becoming the world's most valuable IT company with a market cap of $144.73 billion.[44] On 25 January 2021, TCS briefly reclaimed the title of the world's most valuable IT company from Accenture with a market cap of $170 billion.[45] On the same day, TCS also became India's most valuable company, surpassing Reliance Industries with a market capitalization of ₹12.55 trillion (equivalent to ₹14 trillion or US$170 billion in 2023).[46] In 2021, Tata Consultancy Services was also one of the largest job providers in India, hiring 43,000 new employees in the first half of FY22.[47] In October 2021, N. Ganapathy Subramaniam, the COO of TCS, announced that its platforms and products business is valued at approximately $3 billion.[48] This business includes TCS's SaaS-based platforms, and Subramaniam noted that 95% of the deals won by TCS between October 2020 and October 2021 were for its cloud and SaaS platforms.[48] Additionally, in 2021, TCS underwent a millennial rebranding. Under the guidance of Rajashree R., TCS Chief Marketing Officer (CMO), the company updated its tagline from "Experience Certainty" to "Building on Belief".[49]

In May 2021, TCS, in collaboration with its consortium partner Neurotechnology, was selected by the Unique Identification Authority of India (UIDAI) to provide biometric technology for the Aadhaar digital ID program.[50] The Aadhaar program, which has a database of over 1.3 billion citizens, has been described by World Bank Chief Economist Paul Romer as the "most sophisticated ID program in the world."[51]

In October 2021, TCS's platform and product business, which includes SaaS-based platforms, was valued at approximately $3 billion according to N. Ganapathy Subramaniam, TCS's COO. He also noted that 95% of the deals won by TCS between October 2020 and October 2021 were for its cloud and SaaS platforms.[48]

Additionally, TCS underwent a rebranding in 2021. Under the direction of Rajashree R., TCS Chief Marketing Officer (CMO), the company's tagline was updated from "Experience Certainty" to "Building on Belief".[52]

In May 2021, TCS, in collaboration with its consortium partner Neurotechnology, was selected by the Unique Identification Authority of India (UIDAI) to provide biometric technology for the Aadhaar digital ID program.[50] The Aadhaar program, which maintains a database of over 1.3 billion citizens, has been described by World Bank Chief Economist Paul Romer as the "most sophisticated ID program in the world."[53]

Products and Services

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Tata Consultancy Services (TCS) offers a wide range of products and services designed to address various business and technology needs. Key offerings include:

IT Services: TCS provides IT services including software development, systems integration, and IT consulting. These services support business operations through custom application development, systems integration, and strategic technology guidance.[54]

Business Process Outsourcing (BPO): TCS offers Business Process Outsourcing (BPO) services that involve managing and executing business processes such as finance and accounting, human resources, and customer service operations.[55]

Cloud Computing: TCS delivers cloud computing services including infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). These services help organizations manage IT resources and applications flexibly.[56]

Digital Transformation: TCS supports digital transformation with technologies such as artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT). These solutions assist organizations in modernizing their operations and enhancing customer engagement.[57]

Enterprise Solutions: TCS offers enterprise solutions including enterprise resource planning (ERP), customer relationship management (CRM), and business intelligence (BI) systems. These solutions aim to optimize business processes and support decision-making.[58]

Cybersecurity Services: TCS provides cybersecurity services to protect organizations from digital threats, including threat detection, vulnerability management, and incident response.[59]

Consulting Services: TCS’s consulting services offer expertise in business strategy, operations improvement, and technology management to address complex challenges and optimize operations.[60]

Acquisitions

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Name Acquisition date Activities Country of HQ Price Employees
(at acquisition) 		Description Sources
CMC Limited October 2001 IT Services India $33.9m 3,102 Gets embedded expertise & good domestic customer reach. CMC amalgamated with TCS on 28 April 2015.[61] [62][63][64]
Airline Financial Support Services India (AFSI) January 2004 BPO India $5.1m 400 BPO expertise in Airline and Hospitality sector. [65][66]
Aviation Software Development Consultancy India (ASDC) March 2004 IT Services India $3.1m 180
Phoenix Global Solutions May 2004 Business Process Outsourcing India $130m 400 Acquire expertise in insurance-domain consulting. [67][68]
Swedish Indian IT Resources AB (SITAR) May 2005 IT Services Sweden $4.8m n/a Acquire blue-chip European customers like Ericsson, IKEA, Vattenfall, and Hutchison; SITAR was TCS’ exclusive partner in Sweden and a non-exclusive partner in Norway. [69][70]
Pearl Group October 2005 Insurance United Kingdom $94.7m 950 Acquired life and pension outsourcing business from Pearl Group; domain knowledge of life and pension underwriting business. [71][72]
Financial Network Services (FNS) October 2005 Core Banking Product Australia $26m 190 TCS acquired core banking solution product (BANCS) and access to 116 customers in 35 countries; FNS was an existing partner for TCS. [73][74]
Comicrom November 2005 Banking BPO Chile $23m 1,257 Entry into Latin America; access to payment processing platform. [75][76]
Tata Infotech February 2006 IT Services India $259.2m 3,600 The merger of Tata Infotech added 15 new Fortune 500 clients. [77][78]
TCS Management November 2006 IT Services Australia $13m 35 Access to Australian clients. [79][80]
TKS-Teknosoft November 2006 Banking Product Chile $80.4m 115 Expand product portfolio by acquiring rights to Quartz and ownership of Alpha and e-portfolio, enhanced presence in Switzerland and France. [81]
Citigroup Global Services Limited December 2008 Captive BPO of Citigroup Inc. India $512m 12,472 TCS acquired key Banking and Financial Services (BFS) domain knowledge. [82][83]
Supervalu Services India September 2010 Captive IT/BPO unit of Supervalu Inc. in India India $100m 600 TCS had a deal with Supervalu to have their software outsourcing to TCS and acquired Supervalu India. [84]
Computational Research Laboratories August 2012 High Performance Computing India $34m 80 Acquire expertise in High Performance Computing (HPC) applications and Cloud services. [85][86]
Alti SA April 2013 IT Services France $97.5m 1200 Access to blue-chip French and European clients in banking, luxury, manufacturing, and utility sectors. [87]
BridgePoint Group November 2018 Management consulting United States Acquire expertise in US retirement services. [88][89][90]
Postbank Systems November 2020 IT Services Germany Acquire expertise in the Banking and Financial Services (BFS) domain. Deutsche Bank restructures itself and sold its IT-subsidiary to TCS, which had already been their partner in IT services. [91]
Pramerica Systems Ireland December 2020 IT Services Ireland 1500 Prudential Financial sold its Irish subsidiary to TCS. Acquires expertise in the Banking and Financial Services (BFS) domain and established Global delivery center in Ireland. [92]

Operations

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As of September 2023, TCS had a total of 51 subsidiary companies and operated in 55 countries.[93][94]

Locations

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Tata Consultancy Services (TCS) operates from a broad network of locations worldwide. As of 2024, the company has a presence in over 50 countries and operates more than 500 offices globally.[95] In India, TCS has multiple delivery centers in major cities, including Mumbai, Bangalore, Chennai, and Hyderabad.[96] Internationally, it has significant operations in key markets such as the United States, United Kingdom, Canada, Australia, and Singapore.[97] This extensive geographical footprint allows TCS to effectively serve a diverse client base and utilize global talent. [98]

TCS BPS

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TCS BPS (Business Process Services) is the third-largest India-based IT outsourcing company (after Capgemini).[99] The BPS division had revenues of US$1.44 billion in FY 2012–13, which was 12.5% of the total revenue of TCS.[100][101] TCS BPS has more than 45,000 employees who serve over 225 million customers across 11 countries. The rate of attrition in the BPS division during the financial year 2012–13 was 19.5%.[102] The firm has also opened a business process outsourcing facility in the Philippines.[103]

Life Sciences and Healthcare

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Since 2006 TCS signed multi million contracts from american biopharma giants Pfizer, Eli Lilly etc for providing clinical research-data management, biostatistics, and medical writing services.[104][105][106] TCS also provides services to european biopharma giants such as Roche, Novartis etc in the areas of clinical data management, biostatistics, clinical programming, pharmacovigilance, and RWE support towards global drug development efforts.[107][108][109]

Tata Research Development and Design Centre

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Main article: Tata Research Development and Design Centre

TCS established India's first software research centre, the Tata Research Development and Design Centre, in Pune, in 1981. TRDDC undertakes research in software engineering, process engineering, bioinformatics, and systems research. Researchers at TRDDC also developed MasterCraft (now a suite of digitization and optimization tools),[110] a Model-driven Development software that can automatically create codes based on a model of a software, and rewrite the codes based on the users' needs.[111] The research at TRDDC has also resulted in the development of Sujal, a low-cost water purifier, that can be manufactured using locally available resources. TCS deployed thousands of these filters in the Indian Ocean tsunami disaster of 2004 as part of its relief activities.[112] This product has been marketed in India as Tata Swach, a low-cost water purifier.[113]

Innovation labs

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Tata Innovation Center at Cornell Tech campus in New York City

In 2007, TCS launched its co-innovation network, a network of innovation labs, start-up alliances, university research departments, and venture capitalists.[114][115] In addition, TCS has 19 innovation labs based in three countries.[116] TCS' partners include Collabnet and Cassatt, and academic institutions such as IITs, Stanford, MIT, and Carnegie Mellon, and venture capitalists like Sequoia and Kleiner Perkins.[117]

Employees

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Tata Consultancy Services (TCS) is one of the largest private-sector employers in India,[118] and ranks as the fourth-largest employer among listed Indian companies, following Indian Railways, Indian Army, and India Post.[119] As of 8 July 2022, TCS had over 600,000 employees.[120][121][122][123][124] As of 31 March 2013, the number of non-Indian nationals employed by TCS was 21,282, representing 7.7% of the workforce.[120][125]

For the fiscal year 2012–13, TCS's employee costs amounted to US$4.38 billion, which constituted approximately 38% of the company's total revenue for that period.[126] During the same fiscal year, TCS recruited 69,728 new staff members, with 59,276 based in India and 10,452 located elsewhere.[120] The employee attrition rate for that period was 10.6%, and the average age of a TCS employee is 28 years.[120] The employee utilization rate, excluding trainees, for the fiscal year 2012–13 was 82%.[120]

In 2008, TCS was the fifth-largest recipient of H-1B visas in the United States, following Infosys, CTS, Wipro, and Mahindra Satyam.[127][128][129] In 2012, TCS and other Tata Group companies were the second-largest recipients of H-1B visas.[130][7]

Subramaniam Ramadorai, the former CEO of TCS, authored an autobiographical book titled The TCS Story...and Beyond about his experiences with the company.[131]

Former CEOs of TCS

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  • F. C. Kohli, co-founder and first CEO and MD of TCS from 1968 to 1996, known as the "Father of the Indian IT Industry"
  • Subramaniam Ramadorai, CEO and MD of TCS from 1996 to 2009, and Vice-Chairman until 6 October 2014
  • Natarajan Chandrasekaran, COO, Executive Director, and CEO of TCS from 2009 to 2017
  • Rajesh Gopinathan, CEO and MD of TCS from 2017 to May 2023
  • K. Krithivasan, CEO and MD of TCS since 1 June 2023[132]

Sponsorships

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TCS is the title sponsor for Toronto Waterfront Marathon, London Marathon, Amsterdam Marathon, Mumbai Marathon, Lidingöloppet, and New York City Marathon[133][134] and one of the sponsors of City2Surf, Australian Running Festival, Berlin Marathon, Chicago Marathon, and Boston Marathon.[135] In India, it is the title sponsor of World 10K held in Bangalore every year.[136] TCS has been a sponsor of the Indian Premier League team Rajasthan Royals since 2009.[137] It also provides the team with technology to help in the analysis of player performance, simulation, and use of RFID tags for tracking the players’ fitness levels and for security purposes in the stadiums.[138][139] TCS sponsors an annual IT quiz for high school students called TCS IT Wiz.[140] TCS IT Wiz is the largest quiz in India, attracting students who are studying between class 8 and class 12. This quiz is hosted by Giri Balasubramanium.

TCS also currently sponsors Jaguar Racing in Formula E and Nakajima Racing in Super Formula.

Controversies

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Class Action Lawsuit in the US

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On 14 February 2006, the US law firm Lieff Cabraser filed a nationwide class action lawsuit against Tata.[141] In July 2013, Judge Claudia Wilken of the US District Court, Northern District of California in Oakland, California, granted final approval for the settlement of the lawsuit. This settlement was on behalf of all non-US citizens employed by TCS in California from 14 February 2002 to 30 June 2005. The workers alleged that they were compelled to forfeit their federal and state tax refunds to their employer and that their Indian salaries were wrongfully deducted from their US pay.[142]

On 22 February 2013, Tata agreed to settle the class-action suit for ₹1.62 billion (equivalent to ₹2.8 billion or US$33 million in 2023), concerning payments to employees on deputation.[120]

Trade Secret Lawsuit

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A US grand jury imposed a US$940 million fine on two companies of India's Tata Group—Tata Consultancy Services and Tata America International Corp—in a trade secret lawsuit. Epic Systems accused TCS and Tata America International Corp of "brazenly stealing the trade secrets, confidential information, documents, and data" belonging to Epic in a lawsuit filed in October 2014 in the US District Court in Madison. This lawsuit was amended in January and December 2015.[143] The case concluded in November 2023, with TCS agreeing to pay US$125 million.[144]

Sexual Harassment Allegations

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In 2019, an employee filed a complaint with the Kancheepuram labour court[145], alleging that Tata Consultancy Services' internal complaints committee mishandled[146] a sexual harassment case. Despite the case being approved, there has been no significant progress over the years, with the worker accusing the company of delaying investigations.[147] The worker has also reported unexplained transfers[148] and other forms of alleged workplace retribution, including in performance reviews.[149]

Technical Issues with Oxford University Exams

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On 20 October 2023, Tata failed to deliver digital exams for candidates applying to the University of Oxford. Reports suggest that inadequate preparation led to a technical glitch, causing delays of over two hours and, in some cases, a complete cancellation of the exams.[150][151]

See also

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References

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  54. ^ [TCS IT Services](https://www.tcs.com/what-we-do/it-services)
  55. ^ [TCS BPO Services](https://www.tcs.com/what-we-do/bpo-services)
  56. ^ [TCS Cloud Services](https://www.tcs.com/what-we-do/cloud-services)
  57. ^ [TCS Digital Transformation](https://www.tcs.com/what-we-do/digital-transformation)
  58. ^ [TCS Enterprise Solutions](https://www.tcs.com/what-we-do/enterprise-solutions)
  59. ^ [TCS Cybersecurity Services](https://www.tcs.com/what-we-do/cybersecurity)
  60. ^ [TCS Consulting](https://www.tcs.com/what-we-do/consulting)
  61. ^ [1]
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