Tata Consultancy Services

By: EconomyWatch   Date: 17 July 2010

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Tata Consultancy Services (TCS) is an information technology (IT) service provider offering business solutions, and outsourcing services. TCS as per 2008 Forbes Global 2000 list, is ranked #927.
TCS, a Tata Group company, offers business consultancy and IT enabled services to clients in India and abroad through its redoubtable ‘global network delivery model’. Tata Consultancy Services employs over 120,000 qualified IT professionals spread over 42 nations.

Brief history
Tata Consultancy Services was established in 1968 to provide business consultation services to traditional businesses like banking and finance, health care, energy resources, engineering, manufacturing, travel and hospitality, transportation, and government undertakings. Being a Tata Group company it works on principles of providing excellence to its customers, looking after its employees, and protecting interests of shareholders. TCS presently provides consultation services to insurance, retail, and telecommunication sectors.

Products and services
Products of TCS may be broadly classified into software solutions and services.

- TCS software products – TCS BaNCS is an embedded interactive software product for financial services and related activities. TCS technology products are specially designed for database integration, knowledge management, and customer relationship management (CRM). Tax mantra integrated tax solution, TCS file authentication solution, TCS e-learning effectiveness measurement, and TCS business rules engine are some popular TCS software products.

- TCS services – TCS services can be further classified into enterprise solutions, IT services, IT infrastructure services, business intelligence and performance management, industrial and engineering services, and business process outsourcing.

Financials
Tata Consultancy Services during financial year April 2007–March 2008 held assets worth nearly US $3.03 billion. It generated profits of about US $0.97 billion from total sales of around US $4.32 billion.

Awards and recognition
In 2008, DataQuest ranked TCS as #1 company among IT service providers. BusinessWeek in 2007 placed TCS in its list of top 25 information technology companies. In 2007, TCS topped Global Services magazine's list of “100 Best Performing IT Services”.


Current financial crisis
TCS revenues are expected to fall by 43 percent as compared to last year as their financial services business division has received a setback from global financial crisis.


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