NEW YORK and MUMBAI, India, Jan. 27, 2020 /PRNewswire/ -- Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader in the IDC MarketScape for European Managed Cloud Services¹.

According to the report, "One thing that makes TCS stand out is its high percentage of managed cloud services that involve developing new applications on cloud IaaS." The report went on to say that "A key strength highlighted by customers, compared with other vendors analyzed, is TCS' ability to understand industry-specific needs, particularly in the financial sector."

"The cloud is the foundational element that gives enterprises the ability to tap enormous amounts of computing power and storage capacity to harness the possibilities opened up by new technologies, such as IoT, AI and blockchain, to reimagine business models and ensure superior customer experience," said Krishnan Ramanujam, Global Head, Business and Technology Services, TCS. "Our position as a Leader in this assessment is a testament to our cloud capabilities, investments in intellectual property and customers-centricity."

TCS helps enterprises design, execute, and sustain a cloud-led business ecosystem strategy, with services such as:

• Application development services: Enables enterprises to define the optimal business environment with cloud-native applications that are independently deployable, lightweight, and agile, using microservices and containerization.
• Cloud migration services: Accelerates the cloud journey with decision services including the proprietary iCMC™ recommendation engine, cloud managed services, and the TCS' Cloud Migration Factory that adopts an automated, intelligent factory model to rapidly migrate applications and data to private, public and hybrid cloud environments. 
• Business Ecosystem Integration Services suite: Helps businesses integrate with larger ecosystems and create new customer-centric, augmented offerings. Builds a pervasive backbone for digital and cloud initiatives with complete integration services including API, iPaaS / cloud integration, enterprise service bus, event brokers and B2B integration, creating seamless pathways for real-time data exchange across ecosystem partners.

TCS has deep relationships with all the leading cloud technology providers. In addition, for customers with special requirements, TCS' Enterprise Cloud Platform offers a broad range of flexible private cloud infrastructure options, including PaaS.

TCS has an extensive portfolio of cloud-based intellectual property, with a proven record of enabling faster time-to-market, reducing risk and delivering business value. These include the TCS' Advanced Drug Development Platform, ERP on Cloud, Hosted OSS/BSS (HOBS) for CSPs, the TCS iON assessment platform, TAP™ for procure to pay, CHROMA™ for talent management, Intelligent Urban Exchange, and TCS BaNCS Cloud for banking and financial institutions.

"Our extensive investments in building a wide portfolio of proprietary cloud solutions, products, and platforms along with our deep contextual knowledge, domain expertise across industries, and cloud partnerships, make us the preferred partner to organizations in their cloud transformation journeys," added Krishnan Ramanujam. 

About IDC Marketscape

IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

About Tata Consultancy Services Ltd.(TCS)

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 the last fifty 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 450,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019 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 Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.

TCS media contacts:

¹ IDC MarketScape: European Managed Cloud Services 2019 Vendor Assessment, doc # EUR145402819, October 2019

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SOURCE Tata Consultancy Services