Tata Consultancy Services

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Tata Consultancy Services
TypePublic
  • BSE: 532540
  • NSE: TCS
  • BSE SENSEX Constituent
  • NSE NIFTY 50 Constituent
ISININE467B01029
IndustryInformation technology
Consulting
Outsourcing
Founded1968; 53 years ago (1968)
FounderTata Sons
HeadquartersMumbai, Maharashtra, India
Area served
Worldwide
Key people
Natarajan Chandrasekaran
(Chairman)
Rajesh Gopinathan
(MD & CEO)
RevenueIncrease ₹167,311 crore (US$22 billion)[1] (2021)
Increase ₹44,397 crore (US$5.9 billion)[1] (2021)
Increase ₹32,562 crore (US$4.3 billion)[1] (2021)
Total assetsIncrease ₹130,759 crore (US$17 billion)[2] (2021)
Total equityIncrease ₹86,063 crore (US$11 billion)[2] (2021)
Number of employees
509,058[3] (July 2021)
ParentTata Group
Subsidiaries
Websitewww.tcs.com
Footnotes / references
[4][5]

Tata Consultancy Services (TCS) is an Indian multinational information technology (IT) services and consulting company headquartered in Mumbai, Maharashtra, India[6][7] with its largest campus located in Chennai, Tamil Nadu, India. As of February 2021, TCS is the largest IT services company in the world by market capitalisation ($200 billion). It is a subsidiary of the Tata Group and operates in 149 locations across 46 countries.[8]

TCS is the second largest Indian company by market capitalisation and is among the most valuable IT services brands worldwide.[9][10][11] In 2015, TCS was ranked 64th overall in the Forbes World's Most Innovative Companies ranking, making it both the highest-ranked IT services company and the top Indian company.[12] As of 2018, it is ranked eleventh on the Fortune India 500 list.[13] In April 2018, TCS became the first Indian IT company to reach $100 billion in market capitalisation[14] and second Indian company ever (after Reliance Industries achieved it in 2007)[15] after its market capitalisation stood at ₹6.793 trillion (equivalent to ₹7.7 trillion or US$100 billion in 2020) on the Bombay Stock Exchange.[16][17][18]

In 2016–2017, parent company Tata Sons owned 72.05% of TCS[19] and more than 70% of Tata Sons' dividends were generated by TCS.[20] In March 2018, Tata Sons decided to sell stocks of TCS worth $1.25 billion in a bulk deal.[21] As of 15 September 2021, TCS has recorded a market capitalisation of US$200 billion, making it the first Indian IT firm to do so.[22]

History[]

1968–2005[]

Tata Consultancy Services Limited, initially started as "Tata Computer Systems" was founded in 1968 by division of Tata Sons Limited.[23] Its early contracts included punched card services to sister company TISCO (now Tata Steel), working on an Inter-Branch Reconciliation System for the Central Bank of India,[24] and providing bureau services to Unit Trust of India.

In 1975, TCS delivered an electronic depository and trading system called SECOM for Swiss company  [de]; it also developed System X for the Canadian Depository System and automated the Johannesburg Stock Exchange.[25] TCS associated with a Swiss partner, TKS Teknosoft, which it later acquired.[26]

In 1980, TCS established India's first dedicated software research and development centre, the Tata Research Development and Design Centre (TRDDC) in Pune.[27] In 1981, it established India's first client-dedicated offshore development centre, set up for clients Tandem. TCS later (1993) partnered with Canada-based software factory Integrity Software Corp, which TCS later acquired.

In anticipation of the Y2K bug and the launch of a unified European currency (Euro), Tata Consultancy Services created the factory model for Y2K conversion and developed software tools which automated the conversion process and enabled third-party developer and client implementation.[28] Towards the end of 1999, TCS decided to offer Decision Support System (DSS) in the domestic market under its Corporate Vice President and Transformation Head Subbu Iyer.[29]

2005 to 2021[]

On 25 August 2004, TCS became a publicly listed company.[30][31]

In 2005, TCS became the first India based IT services company to enter the bioinformatics market.[32] In 2006, it designed an ERP system for the Indian Railway Catering and Tourism Corporation.[33] By 2008, its e-business activities were generating over US$500 million in annual revenues.[34][35]

TCS entered the small and medium enterprises market for the first time in 2011, with cloud-based offerings.[36] On the last trading day of 2011, it overtook RIL to achieve the highest market capitalisation of any India-based company.[37] In the 2011/12 fiscal year, TCS achieved annual revenues of over US$10 billion for the first time.[38]

In May 2013, TCS was awarded a six-year contract worth over ₹11 billion (US$150 million) to provide services to the Indian Department of Posts.[39] In 2013, the firm moved from the 13th position to 10th position in the League of top 10 global IT services companies[40] and in July 2014, it became the first Indian company with over ₹5 trillion (equivalent to ₹6.8 trillion or US$90 billion in 2020) market capitalisation.[41][42]

In Jan 2015, TCS ends RIL's 23-year run as India's most profitable firm.[43]

In Jan 2017, the company announced a partnership with Aurus, Inc., a payments technology company, to deliver payment solutions for retailers using TCS OmniStore, a first of its kind unified store commerce platform.[44] In the same year, TCS China was associated as a joint venture with the Chinese government.[45]

TCS announced its FY19 Q3 results posting 24 per cent year-on-year (YoY) rise in profit at ₹81.05 billion (equivalent to ₹86 billion or US$1.1 billion in 2020).[46] The stock plunged 2.5 per global ippo/illa/ega oh ippo/illa/ega zero cent intra-day as brokerages cut price target.[47]

TCS received the 2019 American Business Awards from Four Stevies.[48]

On 8 October 2020, TCS surpassed Accenture in market capitalisation to become the world's most-valuable IT company with a market cap of $144.73 billion.[49] On 25 January 2021, TCS again surpassed Accenture briefly, in market capitalisation to become the world's most-valuable IT company with a market cap of $170 billion.[50] The same day, TCS became India's most valuable company, surpassing Reliance Industries with a market cap of ₹12.55 trillion (US$170 billion).[51]

Acquisitions[]

Name Acquisition date Activities Country of HQ Price Employees
(at acquisition) 		Description Sources
CMC Limited October 2001 IT Services India $33.9m 3,102 Gets embedded expertise & good domestic customer reach. CMC Amalgamated with TCS on 28 April 2015.[1] [52][53][54]
Airline Financial Support Services India (AFSI) January 2004 BPO India $5.1m 400 BPO expertise in Airline and Hospitality sector. [55][56]
Aviation Software Development Consultancy India (ASDC) March 2004 IT Services India $3.1m 180
Phoenix Global Solutions May 2004 Business Process Outsourcing India $130m 400 Acquire expertise in insurance-domain consulting. [57][58]
Swedish Indian IT Resources AB (SITAR) May 2005 IT Services Sweden $4.8m n/a Acquire blue-chip European customers like Ericsson, IKEA, Vattenfall, and Hutchison; SITAR was TCS’ exclusive partner in Sweden and a non-exclusive partner in Norway. [59][60]
Pearl Group October 2005 Insurance United Kingdom $94.7m 950 Acquired life and pension outsourcing business from Pearl Group; domain knowledge of life and pension underwriting business. [61][62]
Financial Network Services (FNS) October 2005 Core Banking Product Australia $26m 190 TCS acquired core banking solution product (BANCS) and access to 116 customers in 35 countries; FNS was an existing partner for TCS. [63][64]
Comicrom November 2005 Banking BPO Chile $23m 1,257 Entry into Latin America; access to payment processing platform. [65][66]
Tata Infotech February 2006 IT Services India $259.2m 3,600 The merger of Tata Infotech added 15 new Fortune 500 clients. [67][68][69]
TCS Management November 2006 IT Services Australia $13m 35 Access to Australian clients. [70][71]
TKS-Teknosoft November 2006 Banking Product Chile $80.4m 115 Expand product portfolio by acquiring rights to Quartz and ownership of Alpha and e-portfolio, enhanced presence in Switzerland and France. [72]
Citigroup Global Services Limited December 2008 Captive BPO of Citigroup Inc. India $512m 12,472 TCS acquired key Banking and Financial Services (BFS) domain knowledge. [73][74]
Supervalu Services India September 2010 Captive IT/BPO unit of Supervalu Inc. in India India $100m 600 TCS had a deal with Supervalu to have their software outsourcing to TCS and acquired Supervalu India. [75]
Computational Research Laboratories August 2012 High Performance Computing India $34m 80 Acquire expertise in High Performance Computing (HPC) applications and Cloud services. [76][77]
Alti SA April 2013 IT Services France $97.5m 1200 Access to blue-chip French and European clients in banking, luxury, manufacturing, and utility sectors. [78]
BridgePoint Group November 2018 Management consulting United States Acquire expertise in US retirement services. [79][80][81]
Postbank Systems November 2020 IT Services Germany Acquire expertise in the Banking and Financial Services (BFS) domain. Deutsche Bank restructures itself and sold its IT-subsidiary to TCS, which has been their partner in IT services already. [82]

Operations[]

As of March 2021, TCS had a total of 50 subsidiary companies and operated in 46 countries.[83]

Locations[]

TCS has operations in the following locations:

India:

Ahmedabad, Bengaluru, Baroda, Bhubaneswar, Chennai, Coimbatore, Delhi, Gandhinagar, Goa, Gurugram, Guwahati, Hyderabad, Bhopal, Indore, Jamshedpur, Kalyan,Thane,Kochi, Kolkata, Lucknow, New Delhi, Mumbai, Nagpur, Noida, Nashik, Patna,[84][85] Pune, Thiruvananthapuram, and Varanasi.

Asia (excluding India):

Bahrain, China, Israel, UAE, Hong Kong, Indonesia, Japan, Malaysia, the Philippines, Saudi Arabia, Singapore, South Korea, Taiwan, Thailand, and Qatar.[86][87][88]

Oceania:

Australia

Africa:

South Africa, Morocco (closed)[89][90]

Europe:

Belgium, Bulgaria, Denmark, Finland, France, Germany, Hungary, Iceland, Republic of Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom.

North America:

Canada, Mexico, and the United States.

South America:

Argentina, Brazil, Chile, Colombia, Ecuador, Peru, and Uruguay.[91]

  • Tata Consultancy Services campus in Hyderabad, India

  • Tata Consultancy Services building in SIPCOT, Siruseri.

  • Tata Consultancy Services building at InfoPark, Kochi

  • Tata Consultancy Services building at Sakchi, Jamshedpur

TCS BPS[]

TCS BPS (Business Process Services) is the third-largest India-based IT outsourcing company (after Capgemini).[92] The BPS division had revenues of US$1.44 billion in FY 2012–13, which was 12.5% of the total revenue of TCS.[93][94] TCS BPS has more than 45,000 employees who serve over 225 million customers across 11 countries.[95] The rate of attrition in the BPS division during the financial year 2012–13 was 19.5%.[96]

In 2006, TCS won a $35 million contract from Eli Lilly and Company for providing clinical data management, biostatistics, and medical writing services.[97][98]

In 2007, it won a major multi-year deal from Swiss pharmaceutical major Hoffmann-La Roche to provide data management, biostatistics, clinical programming, and drug safety support to Hoffmann-La Roche's global pharmaceutical development efforts.[99][100][101]

The firm has also opened a business process outsourcing facility in the Philippines.[102]

Tata Research Development and Design Centre[]

Main article: Tata Research Development and Design Centre

TCS established India’s first software research centre, the Tata Research Development and Design Centre, in Pune, in 1981. TRDDC undertakes research in software engineering, process engineering, and systems research. Researchers at TRDDC also developed MasterCraft (now a suite of digitisation and optimisation tools),[103] a Model-driven Development software that can automatically create codes based on a model of a software, and rewrite the codes based on the users' needs.[104] The research at TRDDC has also resulted in the development of Sujal, a low-cost water purifier, that can be manufactured using locally available resources. TCS deployed thousands of these filters in the Indian Ocean tsunami disaster of 2004 as part of its relief activities.[105] This product has been marketed in India as Tata Swach, a low-cost water purifier.[106]

Innovation labs[]

In 2007, TCS launched its co-innovation network, a network of innovation labs, start-up alliances, university research departments, and venture capitalists.[107][108] In addition, TCS has 19 innovation labs based in three countries.[109] TCS' partners include Collabnet and Cassatt, and academic institutions such as IITs, Stanford, MIT, and Carnegie Mellon, and venture capitalists like Sequoia and Kleiner Perkins.[110]

Employees[]

TCS is one of the largest private-sector employers in India,[111] and the fourth-largest employer among listed Indian companies (after Indian Railways, Indian Army, and India Post).[112] TCS has crossed more than 500,000 employees as of 8 July 2021.[113][114][115][116][117] The number of non-Indian nationals was 21,282 as of 31 March 2013 (7.7%).[113][118] The employee costs for the FY 2012–13 were US$4.38 billion, which was approx. 38% of the total revenue of the company for that period.[119] In the fiscal year 2012–13, TCS recruited a total of 69,728 new staff, of whom 59,276 were based in India and 10,452 were based in the rest of the world.[113] In the same period, the rate of attrition was 10.6%.[113] The average age of a TCS employee is 28 years.[113] The employee utilisation rate, excluding trainees, for the FY 2012–13 was 82%.[113] TCS was the fifth-largest United States visa recipient in 2008 (after Infosys, CTS, Wipro, and Mahindra Satyam).[120][121][122] In 2012, the Tata Group companies, including TCS, were the second-largest recipient of H-1B visas.[123][124] As of Jan 2020, TCS has over 4,00,000+ employees. It is the world's third-largest IT employer behind IBM and HP.

Subramaniam Ramadorai, the former CEO of TCS, has authored an autobiographical book about his experiences in the company called The TCS Story...and Beyond.[125]

Sponsorships[]

TCS is the title sponsor for Amsterdam Marathon, Mumbai Marathon, and New York City Marathon[126] and one of the sponsors of City2Surf, Australian Running Festival, Berlin Marathon, Chicago Marathon, and Boston Marathon.[127] In India, it is the title sponsor of World 10K held in Bangalore every year.[128] TCS is a sponsor of the Indian Premier League team Rajasthan Royals since 2009.[129] Besides, TCS provides Rajasthan Royals with technology to help in the analysis of player performance, simulation, and use of RFID tags for tracking the players’ fitness levels and for security purposes in the stadiums.[130][131] TCS sponsors an annual IT quiz for high school students called TCS IT Wiz.[132] The TCS IT Wiz is the largest quiz in India, attracting students who are studying between class 8 and class 12. This quiz is hosted by Giri Balasubramanium.

Controversies[]

Class action lawsuit[]

On 14 February 2006, US law firm Lieff Cabraser filed a nationwide class action lawsuit against Tata.[133] In July 2013, judge Claudia Wilken of the US District Court, Northern District of California in Oakland, California, granted final approval to the settlement of the lawsuit on behalf of all non-US citizens employed by TCS within the state of California from 14 February 2002 to 30 June 2005. The workers claimed that they were forced to sign over their federal and state tax refunds to their employer, as well as stating their Indian salaries were wrongfully deducted from their US pay.[134]

On 22 February 2013, the company agreed to settle for a sum of ₹1.62 billion (equivalent to ₹2.3 billion or US$31 million in 2020), this class-action suit filed in a United States court on payment to employees on deputation.[113]

A US grand jury has slapped two companies of India's Tata Group – Tata Consultancy Services and Tata America International Corp – with a US$940 million fine in a trade secret lawsuit filed against them. Epic Systems had accused TCS and Tata America International Corp, in a lawsuit filed in October 2014 in US District Court in Madison, which was amended in January and December 2015, of "brazenly stealing the trade secrets, confidential information, documents and data" belonging to Epic.[135] This Epic Systems lawsuit against TCS was closed and settled with an undisclosed out-of-court agreement that was completed in January 2018.

A federal class-action lawsuit accusing Tata Consultancy Services Ltd. of bias against US-born workers was heard by the court during a jury trial in November 2018. The US federal court Case in Northern District of California (Buchanan v. Tata Consultancy Servs., Ltd., 4:15-cv-01696) is one of seven asserting that several large offshore and national IT staffing companies with operations in the US prefer foreign workers from South Asia over qualified Americans. All the companies being sued are heavy users of , which go to skilled professionals in "specialty occupations". The US Federal District Court Case 15-cv-01696-YGR consolidated these lawsuits against TCS and several other IT staffing companies into a class action trial and was allowed by the Federal District Court to proceed (but not yet certified) with a November 2018 jury trial.

Accusations of discrimination[]

In May 2013, the Canadian Broadcasting Corporation (CBC), in its extensive coverage of the hiring of temporary foreign workers in Canada and the unemployment issues faced by Canadians, reported that TCS rarely hires skilled experienced Canadians at the Toronto offices while advertising open positions in Canada. TCS responded that the company hired more than 125 Canadian workers in 2013 who make less than 1.2% of the 10,452 workers the company has outside of India.[113][136]

In April 2015, a class-action lawsuit against TCS was filed in a San Francisco federal court by a US information technology worker and ex-employee, who accused the company of discriminating against American workers by favouring South Asians in hiring and promotion. The lawsuit claimed that South Asians comprise 95% of the company's 14,000-person US workforce and that TCS engaged in discriminatory practices by sourcing most of its workforce through the H-1B visa programme, by focusing its US-based hiring disproportionately on South Asians, and by favouring South Asian employees in its human resources practices. In response, TCS refuted the plaintiff's claims, assuring that it is an equal opportunity employer and bases its employment practices on non-discriminatory reasons. A spokesperson said that in 2014 alone the company had recruited over 2,600 US hires.[137]

That same month, electric utility Southern California Edison (SCE) laid off about 400 IT employees, with an additional 100 IT workers leaving voluntarily.[138] Meanwhile, the utility company hired immigrants from TCS and competing company Infosys.[139][140] In October 2015, the United States Department of Labor concluded Infosys did not abuse the H1-B programme in the dealings with SCE, while TCS's case remained open.[141]

See also[]

References[]

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