New York [USA]/ Mumbai (Maharashtra) [India], February 4 (ANI/PRNewswire): Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been named to FORTUNE magazine's list of the World's Most Admired Companies. Regarded as a barometer of corporate reputation, the list is based on a survey of business executives, directors and analysts around the globe. Companies are evaluated based on criteria such as innovation, social responsibility, quality of management, global competitiveness, talent management, and quality of products/services.
"TCS is honored to be included in Fortune Magazine's list of the World's Most Admired Companies, especially since we share this accolade with many of our clients," said Suresh Muthuswami, Chairman, TCS North America. "This recognition is an outcome of the longer-term, purpose-driven partnerships we have built with our clients, communities and all other stakeholders."
TCS partners with some of the world's largest corporations in their innovation, growth, and transformation initiatives. Its industry-leading growth over the last decade has come from continually looking for new opportunities to add value to clients, proactively investing in newer capabilities, reskilling its workforce, and launching newer services, solutions, products, and platforms.
In the last few years, TCS has been using its investments in research and innovation, its intellectual property and deep contextual knowledge of the customer's business and technology landscape to proactively pitch ideas and solutions designed to improve their topline and help drive competitive differentiation. This strategy has resulted in deep and enduring customer relationships, a vibrant and engaged workforce, industry-leading profitability, a steady expansion of the addressable market, and a proven track record in delivering longer term stakeholder value.
TCS has invested heavily in research and innovation, taking up promising themes in each industry to envisage and design innovative solutions. The company has over 6,500 dedicated researchers and innovators, with 2,694 granted patents to their credit. TCS' global network of Pace Port co-innovation and advanced research centers based in New York, Pittsburgh, Toronto, Amsterdam, and Tokyo, help customers drive innovation at speed and scale.
TCS' employee-friendly workplace practices and continued investments in building up talent across the organization through professional development initiatives and digital skills programs, have made it a top employer globally and an industry benchmark for talent retention.
Additionally, TCS invests in addressing the most pressing needs of the community - education, skilling, employability, and digital entrepreneurship with a focus on bridging the opportunity gap for people and communities. TCS' STEM programs are designed to encourage computational thinking and spark innovation among school students. They are increasing equitable access to STEM learning and preparing the students for the digital workforce of tomorrow. Its goIT and Ignite My Future in School initiatives have impacted over 1.7 million students and 133,000 teachers in the US till date.
"Fortune congratulates all of the companies whose competitors and peers recognize their achievements and voted them onto the 2023 Fortune World's Most Admired Companies list, as well as the top 50 All-Stars, who have been named the best of the best by the broader business community in a challenging year," said Alyson Shontell, Editor in Chief, Fortune.
For more information, visit: http://fortune.com/worlds-most-admired-companies/
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 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile 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 613,000 of the world's best-trained consultants in 55 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) 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. For more information, visit www.tcs.com
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