Tata Consultancy Services (TCS) has been rated as the second most valuable IT services brand in the world in the 2024 Global 500 IT Services Ranking by Brand Finance. Steered by steady investments in AI-readiness and a commitment to sustainability,
TCS’ brand value has surged to $19.2 billion from $17.2 billion in 2023, a strong growth of 11.5% YoY. The incremental $ 2 billion growth is the highest absolute growth posted among the Top 25 leading IT firms in the world, as per the statement.
“TCS has shown outstanding growth, increasing its brand value by more than anyone else in its industry. This achievement reflectstheir commitment to innovation and market leadership. The improvement in their Brand Strength Index from 82 to 84, while retaining their AAA- brand rating, highlights TCS’ strategic excellence. As one of the world’s most valuable IT services brands, TCS is a clear brand leader in the industry, demonstrating the power of consistent brand investment and strength,” said, David Haigh, CEO and Chairman, Brand Finance.
TCS has made significant investments over the past decadesto expand the global footprint of its brand. These include strengthening its presence at major industry and business forums, in digital channels and social media, boosting its leadership status in Industry analyst reports, its voice in thought leadership and a series of other actions, the statement said.
In a first such foray seen in the technology sector, TCS has built up the world’s largest sponsorship portfolio of 12 marathons and running platforms, which include iconic events such as the TCS New York City Marathon, the Tata Mumbai Marathon, the TCS Amsterdam Marathon, among others. Recently, it has further strengthened this portfolio, by adding the TCS London Marathon and the TCS Toronto Waterfront Marathon. Every year, over 600,000 runners participate in TCS-sponsored endurance running races in major cities across the world, and billions watch these events in broadcast across the world and through the mobile apps built by TCS, according to the statement.
“Over the past decades, we have made a concerted effort to make the TCS brand more global using a range of strategic marketing actions, which is being reflected in this brand performance. I would like to thank all my colleagues, who build and enhance our brand through their daily efforts. Embracing the Tata Group’s larger vision, we are deploying the full power of our brand platforms to not only shape a more sustainable future but also strategically position our brand as a leader in Artificial Intelligence and other emerging technology fronts.” Said Abhinav Kumar, Chief Marketing Officer at Tata Consultancy Services
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