Source Name: Tata Consultancy Services Ltd.

TCS Named as a Leader in Life Sciences IT Outsourcing in Europe

Everest Group report recognizes TCS’ strong growth, continuous domain investments and deal success in the Life Sciences IT outsourcing segment

Feb 24, 2015 16:16 IST

Mumbai, Maharashtra, India; London, England, United Kingdom

Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, today announced that it has been recognized as a Leader in Life Sciences IT Outsourcing (ITO) in Europe by leading advisory and research firm Everest Group.

The Everest Group report, ‘IT Outsourcing in European Life Sciences Industry – Service Provider Landscape with PEAK Matrix™ Assessment 2014’, acknowledged TCS for its engagements across key infrastructure and application towers, substantial revenue, strong growth in the Life Sciences ITO business and a balanced portfolio of deals across geographies. The report also recognized TCS’ significant and ongoing investments in proprietary solutions and research.

“The demand for IT services by European Life Sciences majors is characterized by the distinctive nature of the global brands headquartered in Europe, an evolving business and regulatory landscape, mature sourcing practices, and an increasing appetite for next-generation technology” said Jimit Arora, Vice President – IT Services, Everest Group. “TCS’ positioning as a Leader in the European Life Sciences ITO market is a reflection of its sustained success with major clients in the region, and focused investments by the company in developing capabilities across the life sciences value chain.”

Debashis Ghosh, President, Life Sciences, Manufacturing and Energy, TCS, commented; “The Life Sciences industry is evolving at a rapid pace which demands a strong strategic partner that understands the business and opportunities of the present and the future. We are honoured to be recognized as a Leader in Life Sciences ITO in the European market in this inaugural report from Everest Group. This is a testament to TCS’ extensive experience in the Life Sciences industry, investments and capabilities across geographies and we look forward to building on this success in 2015 and beyond.”

The Everest Group report evaluated 15 service providers specific to the European life sciences sector and mapped them on Everest Group’s Performance, Experience, Ability, Knowledge (PEAK) Matrix, which is a composite index of several distinct metrics related to a provider’s capabilities and market success. Service providers are classified by three categories: Leaders, Major Contenders and Emerging Players. Everest Group also profiled the capabilities of these leading service providers in detail, including a comprehensive picture of their service scope, scale of operations, domain investments, delivery footprints and market success.

TCS has worked with twelve of the top 15 global pharmaceutical companies and eight of the top 10 medical device manufacturers. The company’s commitment towards developing next generation innovative solutions and facilitating cutting-edge research – through its Life Sciences Innovation Lab, research collaborations, multiple centers of excellence and Co-Innovation Network (COIN)^TM – have made it a preferred partner for the world's leading life sciences companies.

About Tata Consultancy Services Ltd. (TCS):

Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS,infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 318,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $13.4 billion for year ended March 31, 2014 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.