TCS Will Become World’s 3rd Biggest IT Services Company: How This Happened?
Information Technology is one of the largest job providers in India. Indian IT companies provide software services across the globe and most of the foreign exchange in the country comes from these companies, forming the backbone of Indian economy and exports sector. TCS, the best IT company in India, in 2018 completed 5 decades of industry-leading customer satisfaction, business performance and community impact. Last year was characterized by momentum and milestones for TCS, as it became the first Indian IT company to record a capitalization amount over $100 billion.
TCS: The Walmart of IT Services
TCS is set to achieve yet another milestone this year by becoming the third largest IT Company in the world. Currently, the top 3 positions are secured by IBM, Accenture and DXC Technologies. IBM generated revenue of $79.59 billion, followed by Accenture with $39.57 billion, in the last financial year. Growing at the rate of 9.6%, TCS generated revenue of $20.91 billion last FY, while DXC Technologies registered revenue of $15.47 billion dollars in the 1st three quarters. It is yet to release its 4th quarter data on 23rd May but most analysts believe it is quite unlikely that the company would achieve this feat.
If TCS beats DXC this year, it will bring a change in the hierarchy of the outsourcing industry that has been unchanged for two years. TCS’s industry-leading profitability even while recording double-digit revenue growth is another metric that has helped investors repose faith in the company’s stock. TCS was also reported as the third highest valued IT services brand globally, in a report released by Brand Finance for FY19.
TCS: How it Performs Better
TCS is widely described these days as the ‘Walmart of IT Services’, the firm can pretty much win any large deal it wants to deliver. TCS is driven by the values of disciplined focus on the market’s increased demand for digital services. It is the first Indian IT company, to have achieved in securing a successful position in the Japanese market, by providing a superior all-round customer experience, leveraging artificial intelligence and robotic automation across its transformation programmes.
Since its registration at the stock market on 25th August 2004, it has consistently posted profits and this is the reason that the investors’ trust in TCS has been so high. It has provided IT solutions to many govt and private sectors in India, including the designing of an ERP system for IRCTC. This year, the company is in its 50th year and employs more than four lakh employees across the globe, providing unbelievable pros to its employees.
For now, Accenture and TCS are recorded as the two companies among the large IT firms that appear to have steered through the disruptive period with a gigantic degree of success. A feat of such is highly appreciable for the Indian IT sector.