Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 55 years.

Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions is delivered through its unique Location Independent Agile^TM delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India’s largest multinational business group, TCS has over 614,000 of the world’s besttrained consultants in 55 countries. The company generated consolidated revenues of US $27.9 billion in the fiscal year ended March 31, 2023 and is listed on the BSE and the NSE in India.

TCS’ proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index.

Business Highlights

• Ranked the number one IT service provider for customer satisfaction in Europe in an independent survey of over 1,800 CXOs by Whitelane Research. This is the tenth consecutive year that TCS has received the top ranking in this survey. Of the top 23 IT service providers ranked on customer satisfaction, TCS topped the list, scoring 83%, versus the group’s average of 75%.
• Announced an expansion of its long-standing partnership with Phoenix Group, UK’s largest long-term savings and retirements provider, to digitally transform the latter’s ReAssure business using the TCS BaNCS™ based digital platform, and to administer the insurer’s 3 million policies. Consolidating on TCS’ platform will help Phoenix Group drive synergies and enhance customer experience.
• Named to the Forbes list of America’s Best Large Employers, based on a large, independent survey of US employees. TCS was also recognized as a Global Top Employer for the eighth year in a row, and as Top Employer in North America, Europe, Asia Pacific, and Latin America.
• Rated Baa1 by Moody’s credit rating agency, reflecting moderate credit risk for entities in the investment grade category. The company’s good corporate governance practices, extremely strong balance sheet, large liquidity and net cash position were cited as key credit strengths supporting this rating.
• TCS-sponsored marathons, such as the TCS New York City Marathon, TCS Amsterdam Marathon, TCS Toronto Waterfront Marathon and TCS Lidingöloppet returned to the streets, much to the delight of runners and spectators alike. The company also took on the title sponsorship of the TCS London Marathon.
• Announced a special dividend of ₹67 per share, along with three interim dividends of ₹8 each. This, along with the final dividend of ₹24, amounted to a total dividend of ₹115 per share. The total shareholder payout for the year was ₹42,079 crore.
• Selected as a strategic partner by Bombardier, a global leader in aviation, to drive its organization-wide IT and digital transformation to enhance its agility. TCS will modernize the aviation leader’s legacy systems across multiple verticals, deploy and integrate new systems around the S/4 HANA ERP platform and transform the operating model using AI and ML.
• Tata Group Chairperson and TCS Chairman, N Chandrasekaran, was bestowed with the Eisenhower Global Leadership Award for his contribution to commerce, by the non-profit, Business Council for International Understanding. Hans Vestberg, the Chairman and CEO of Verizon, presented N Chandrasekaran with the award and described him as “one of the most purpose-driven and influential leaders of our time”.
• Selected by Sainsbury’s, a leading supermarket retailer in UK, as its transformation partner to modernize its infrastructure landscape using TCS Enterprise Cloud™. Additionally, TCS will provide end-to-end managed services for application support, information security, modern workplace services, and network connectivity. The new flexible and scalable digital core will help Sainsbury’s provide better value to customers through innovation and lower cost to serve; drive growth with data-led, machine-first core operations; and meet its net zero goals.
• Selected by AGL, Australia’s largest energy provider, as the partner for the Retail Next Program, which lays the foundation for their strategic business transformation into a multi-service retailer. The program aims to create a new unified platform for CRM, product catalogue and process automation. TCS brings together cross-industry expertise like service bundling and retail customer analytics, in addition to deep knowledge of utilities which will help AGL enhance its speed to market, and transform consumer and agent experience.
• Launched the TCS Quantum Computing Lab on AWS to help enterprises explore, develop, and test business solutions and accelerate the adoption of quantum computing, considered one of the most promising technologies of the decade. TCS will leverage the virtual research and development environment to design industry-leading solutions, build domain-centric performance benchmarks, and work with clients to co-create new use cases of quantum computing to tackle business challenges that defy the capabilities of conventional technologies.
• Chosen by Rail Delivery Group, UK’s leading rail industry membership body, for the creation of a Rail Data Marketplace. TCS will leverage the data syndication, monetization and marketplace features of its DeXAM platform on a leading hyperscaler platform to combine fragmented sources of rail data forming one digital service. This will optimize the sharing of data and real-time information to passengers and operational bodies, improve transparency and enable a UK-wide railway innovation ecosystem.
• Enhanced its award-winning Quartz™ solution to enable central and commercial banks to support the entire lifecycle of Central Bank Digital Currency (CBDC) issuance, book-keeping and transactions. With the enhanced solution, central banks will be able to manage the issuance and distribution of CBDCs while commercial banks can transact with other banks and payment services providers using CBDCs as well as offer their customers the ability to hold CBDC balances.
• Partnered with BT Group, UK’s leading provider of fixed and mobile telecommunications, for its Digital Unit to boost its modernization plans. TCS will manage and ramp down over 70% of Digital’s legacy technology estate and boost its capacity to accelerate the build of its new strategic technology architecture, supporting the Group’s growth.
• Won the 2022 Microsoft Supplier of the Year award in the large supplier category. TCS was recognized for consistently delivering new capabilities with automation solutions that help improve accuracy for Microsoft, while also increasing its speed to market. TCS was cited for its expertise across industries that enables Microsoft to better serve customers, showcasing what it means to focus on strategy, impact, agility, and modernization.
• Partnered with C&S Wholesale Grocers, Inc., to build a new cloud-based operations platform to reduce the company’s carbon footprint and enhance the customer experience. Using AI and machine learning, C&S’s new operations platform will monitor traffic patterns and identify optimal distribution routes, thereby reducing food waste and achieving greater fuel efficiency.
• Launched the TCS Mobility Cloud Suite, a rich toolbox of cloud-enabled software to help automotive manufacturers and suppliers innovate, adapt, and thrive. It includes ready-to-deploy automotive-specific digital frameworks, custom solutions, accelerators, and use cases that enable automakers and their solution providers to embrace digital technologies and new business models across the entire mobility value chain.
• Boots, a leading UK health and beauty retailer, announced the launch of the new INNOVATE workspace, powered by TCS Pace^TM, at its headquarters in Nottingham, UK. INNOVATE aims to nurture a start-up culture within the organization and is designed to be an agile incubator, combining creative space with top talent and emerging technology, to drive innovation.
• Launched its ESG Integration Solution on AWS to help financial institutions more easily and accurately measure the impact of environmental, social, and governance (ESG) factors in their investment analysis. With a cloud-native ESG data ingestion platform and proprietary ESG scoring model, the solution is integrated with AWS Data Exchange, and enables greater transparency and flexibility in measuring investment portfolios against ESG criteria and benchmarks.
• Was the only Indian brand in the Top 50 in the 2022 Kantar BrandZ Top 100 Most Valuable Global Brands. TCS was also named among the Top 10 fastest growing brands with its brand value growing 61% YoY (as measured by Kantar). Later in the year, the company was ranked the second most valuable IT services brand (brand value up 2% to US$17.2 billion) by Brand Finance.
• Ranked #2 in CRN’s 2022 Solution Provider 500 list that ranks the top system integrators, IT services providers and IT consultants by revenue in North America. In the UK, TCS retained its #1 position by revenue across the entire technology ecosystem including hyperscalers, software vendors and IT/ITe service providers in the 2022 TechMarketView UK Software and IT Services Supplier Rankings report.
• Launched TCS Pace Port^TM Pittsburgh, its fourth global research and co-innovation hub after Tokyo, New York and Amsterdam. The latest facility, in the Carnegie Mellon University campus, specializes in innovation in the manufacturing and utilities sectors. Later in the year, TCS launched its fifth Pace Port in Toronto.
• Selected by The Kansas Department of Labor to deploy a modern, secure, cloud-based platform for the state’s unemployment insurance program, replacing its 70s-era mainframe system. Once deployed, the new system is expected to drastically improve the delivery of services to Kansas residents. The TCS-built platform is currently used by the state labor departments in Connecticut, Maine, Mississippi, Missouri, and Wyoming, and is under implementation at a couple of other states.
• Named by FinanceAsia in its list of Asia’s Best Companies 2022, as the Best Managed Company in India, as well as Most Effective in Creating and Implementing D&I Policies over the past 12 months. The list is based on their annual poll of investors and analysts in the region