Tata Consultancy Services (TCS) has been named as the world’s fourth most valuable information technology (IT) services brand by leading global brand valuation company Brand Finance. The top three most-valued IT services brands are IBM, HP and Accenture.
“The value of the TCS brand has increased rapidly over the past three years. Our 2012 ranking marks the first time an emerging market-headquartered firm has entered the top league in IT services. With a strong brand strategy and a refined sponsorship portfolio, TCS has been able to improve both brand awareness and its profile globally,” said David Haigh, chief executive officer and founder of Brand Finance.
Brand Finance assesses the dollar value of the reputation, image and intellectual property of the world’s leading companies.
TCS, India’s largest IT services provider, has been investing heavily to build up its brand presence worldwide through a range of activities, including a global public relations programme, major sports sponsorships and corporate social responsibility activities. The company’s portfolio of sports partnerships over the past five years has cut across Formula 1 racing, Pro cycling, cricket and running, while its community initiatives have ranged from health and wellness to youth education and environment conservation initiatives.
“We are extremely pleased with this ranking, as it confirms the rapid evolution and recognition of our brand at a global level. In line with the symbolic crossing of the $10-billion revenue mark this year and the global top four position TCS now holds in terms of market capitalisation, net income and employees, this achievement on the brand front is a watershed moment in our company’s evolution towards a top position in its industry globally,” said N Chandrasekaran, chief executive officer and managing director of TCS.
Philip Kotler, S C Johnson and Son Distinguished Professor of International Marketing at the Kellogg School of Management, Northwestern University, said: “Unreported on most balance sheets, brand value and reputation yet remain the most important assets for a company in today’s hyper-competitive globalised marketplace. In this Marketing 3.0 world, successful modern brands need to reach out not only to the hearts and minds, but also the spirits of their target audience. TCS is clearly a company that is getting this right, reflected in significant gains to its brand equity, value and reputation.”
Infosys, India’s second-largest IT services company, is on the fifth position, while Cognizant and Wipro are on the ninth and 10th position, respectively.