The FINANCIAL — Tata Consultancy Services, one of a leading IT services, consulting, and business solutions organisation, announced, today, that it has been named the 4th most valuable IT services brand worldwide by Brand Finance, the world leading brand valuation firm.
Brand Finance assesses the dollar value of the reputation, image and intellectual property of the world’s leading companies. Brand Finance’s brand valuations are frequently peer-reviewed by top audit practices, accepted by various regulatory bodies and used by leading global brands as a performance benchmark.N Chandrasekaran, CEO and MD, TCS, said: “We are extremely pleased with this ranking as it confirms the rapid evolution and recognition of our brand at a global level. In line with the symbolic crossing of the $ 10 billion revenue mark this year and the global top four position TCS now holds in terms of market capitalisation, net income and employees, this achievement on the brand front is a watershed moment in our company’s evolution towards a top position in its industry globally.”
Through its work with clients, TCS has developed a strong reputation in the IT services market for reliably delivering business results, providing leadership to drive transformation and partnering for client success. The company has been investing heavily to build up its brand presence worldwide through a full range of activities, which include an award-winning global public relations programme, major sports sponsorships and a wide range of corporate social responsibility activities.
According to Tata Sons Ltd, the company’s significant portfolio of sports partnerships over the past five years have cut across Formula 1 racing, pro-cycling, cricket and running; while its community initiatives have ranged from health and wellness to youth education and environment conservation initiatives.
“The value of the TCS brand has increased rapidly over the past three years. Our 2012 rankings marks the first time an emerging markets headquartered firm has entered the top league in IT services,” said David Haigh, CEO and founder of Brand Finance. “With a strong brand strategy and a refined sponsorship portfolio, TCS has been able to improve both brand awareness and its profile globally. TCS’s impressive brand value has gone from strength to strength, firmly establishing the company in the same league as the top western IT services firms — making them sit up and take note.”
The world’s foremost expert on the strategic practice of marketing — SC Johnson and Son Distinguished Professor of International Marketing at the Kellogg School of Management, Northwestern University, Philip Kotler, said: “Unreported on most balance sheets, brand value and reputation yet remain the most important assets for a company in today’s hyper-competitive globalised marketplace. In this Marketing 3.0 world, successful modern brands need to reach out not only to the hearts and minds but also the spirits of their target audience. TCS is clearly a company that is getting this right, reflected in significant gains to its brand equity, value and reputation.”