Tata Consultancy Services, the country’s largest provider of information technology, has been recognised as the fastest-growing brand globally in this sector over five years. The study is by London-based Brand Finance, a brand valuation entity.
In 2010-2015, TCS increased its brand value from $2.3 billion to $8.7 billion, while retaining the highest brand strength rating of AA+. It was also recognised as one of top-four global brands in IT services for a fourth year in row.
Brand Finance assesses the dollar value of the reputation, image and intellectual property of companies. Its valations are frequently peer-reviewed by top audit practices, accepted by various regulatory bodies and used by brands as a performance benchmark.
David Haigh, the chief executive of Brand Finance, said: “New-age brands catering to the digital economy are seeing immense growth in their valuations. One example is Twitter, the fastest-growing brand in 2015 across all sectors, tripling its brand value to $4.4 billion. Another brand we are tracking with great interest is TCS, which has had an impressive performance over five years, with growth of 271 per cent. Its focus on putting the customer first and becoming a trusted business partner over the long term have held the brand in good stead. It has also seen the largest increase in brand value over five years — adding over $6 billion to the value of its brand.”
Over five years, TCS has invested in several strategic initiatives to strengthen its brand. Its branding, public relations, sponsorships, employer brand and community programmes have been recognized with 50-plus awards worldwide.
The company is a major brand sponsor of marathons globally, including the TCS New York Marathon, which it commenced its title partnership with in 2014. In Europe, the TCS Amsterdam Marathon has won three top accolades at the Corporate Engagement Awards, including the Gold Award for best programme to raise brand awareness.
N Chandrasekaran, managing director and CEO of TCS, said: “Our brand has made tremendous headway globally...We will continue to invest towards brand leadership in every country and community we operate in.”
Rachael Stormonth, senior vice-president at industry analyst firm NelsonHall, said: “TCS is one of the largest, fastest growing and most profitable companies in the IT services industry, with the #2 position in terms of market capitalisation globally. TCS’ growing brand strength reflects the extent to which there has been a rise in awareness among business leaders towards the company’s distinctive qualities. A range of marketing initiatives, such as sponsoring of major international marathons (New York, Amsterdam, Berlin, Singapore, Bangalore, Mumbai) are helping raise wider public awareness of the TCS name. This combination of high market cap and brand strength clearly shows TCS is delivering on shareholder value.”
Published on February 20, 2015 in Business Standard.