Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), one of the world’s leading IT services, consulting and business solutions organizations, has been recognized as a leader in the Everest PEAK Matrix® group for services application transformation1, for the second time in a row.
According to the report, customers appreciate TCS ‘co-innovation approach in large-scale application service engagements, which helps TCS win major contracts including modernization. The main strengths of TCS are the significant investments by TCS in building a strong portfolio of application transformation solutions, underpinned by a mature suite of flagship IPs and verticalized solutions. The report also states that customers value TCS ‘talent management and the technical competence of delivery engineers.
“Companies around the world are embracing the cloud and other digital technologies to reinvent business models, approach new market segments, improve customer experiences and differentiate themselves. The key to the success of this journey is the ability to quickly modernize the existing application and data base while innovating transparently. and the deployment of new cloud native systems, ”said Krishnan Ramanujam, Business Group Manager, Business and Transformation Services, TCS. “Our leadership position in this space for the second time in a row is a testament to our vision, our innovation, our extensive presence and the resulting impact on the market.”
TCS’s application transformation strategy is guided by its thought leadership framework of transforming multi-horizon to goal-driven growth. It covers:
– Build a digital core – Leverage TCS ‘in-depth knowledge of large-scale digitization to modernize existing applications and create a new cloud-based domain that will serve as a resilient, secure and scalable digital foundation for innovation and growth.
– Innovation – Build new systems that take advantage of cloud native capabilities to pursue innovative new business models, launch new products and services, deliver hyper-personalized customer experiences, and drive differentiation.
– Leverage innovation ecosystems – Co-innovate with ecosystem partners crossing industry boundaries to create goal-oriented augmented offers, made possible by the transparent exchange of real-time data between partners.
TCS application transformation services consist of two main streams:
– Consulting Services: TCS performs cloud and digital maturity assessments to identify gaps and build an actionable modernization roadmap. It also conducts strategy and vision workshops to establish the target operating model which covers the design of the reference architecture, the evaluation of microservices and the design thinking for UX, to support a balanced approach to “Modernize as you migrate”.
– Application portfolio transformation: TCS helps customers decide whether to keep, retire, replace or rebuild their legacy applications and subsequently whether to rehost, refactor or redefine the platform when migrating to the cloud. New applications are built by harnessing digital technologies such as advanced data analysis, AI and ML, augmented reality and virtual reality, etc. Additionally, business processes are analyzed to identify opportunities for alignment, which are then designed into a bouquet of microservices, APIs, and a modern user experience. .
A key differentiator is TCS’s comprehensive portfolio of intellectual property, tools and products. TCS MasterCraft ™ TransformPlus, an intelligent automation product, dramatically accelerates end-to-end application modernization and supports a wide range of existing and modern programming languages. TCS used TransformPlus to analyze over a billion lines of legacy code, extract business rules, and document them for reference and decision making.
The Cloud Innovation Garage leverages IoT, AI, ML, advanced analytics and the cloud, along with TCS domain knowledge to drive innovation. Other accelerators include HyperBreeze Container Service Offering, Cloud Mutagen, TCS Cloud Exponence, Jile ™, iCMC ™, Modernization Propeller, and ZippedAgile.
TCS has invested in the establishment of dedicated strategic cloud units that provide a full range of end-to-end services around each of the major hyperscale clouds. TCS’s change management consulting offerings facilitate the full participation of all stakeholders in the transformation process, reducing project risks and delivering superior results.
“Investments in the transformation of the application park have accelerated of late as a precursor of a significant digital transformation,” said Alisha Mittal, director of practices, Everest Group. “TCS’s co-innovation approach combined with the mature set of verticalized solutions has helped it achieve large-scale modernization commitments. Everest Group PEAK Matrix® for application transformation services. “
“Our in-depth application transformation capabilities, our futuristic offerings built using our rich domain knowledge acquired in all sectors and our investments in innovation and intellectual property make us the preferred partner of our clients on their goal-driven growth and transformation journey, ”said Krishnan Ramanujam.
The actions of Tata Consultancy Services Ltd. were last trading in the BSE at Rs. 3635.85 from the previous close of Rs. 3557.45. The total number of shares traded during the day was 127,876 in more than 8,715 trades.
The share hit an intraday high of Rs. 3,672.5 and an intraday low of 3,562.95. The net turnover during the day was Rs. 464 382 117.
1 PEAK Matrix® 2021 Application Transformation Services Assessment, Everest Group®, July 2021