Montevideo, URUGUAY, February 1, 2007: Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS), a leading global IT services and consulting firm, announced that it has set up a regional training center for Latin America established in the Knowledge Development Center (KDC) which is hosted by the Uruguayan technology lab (LATU). The KDC site, which was inaugurated by Jorge Lepra, the Uruguayan Minister of Industry, Energy and Mining, will also serve as a hub for training needs of local software companies in Uruguay. | |
| The TCS training center will be based in Montevideo, Uruguay and will serve as a training platform to upgrade the technology skills of the firm's employees across Argentina, Brazil, Chile, Colombia, Mexico, Uruguay and other countries in the region. This marks the first such investment in the area of training and development by any Indian firm in Latin America. "As industry leaders, over the last 38 years, we have pioneered a successful offshore model in India. In our commitment to being a top global player we are now investing in moving this expertise to all our international locations to complete our global delivery network," said N. Chandrasekaran, TCS´ Executive Vice President of Global Sales and Operations. |
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| With increasing demand for IT and BPO services in Latin America, the opportunities for job creation in this sector are immense but the supply of trained manpower could serve as a barrier to growth. "Latin America today is becoming an increasingly important IT services marketplace, with some of the highest projected growth rates over the next five years. It is also rapidly becoming an important hub for global sourcing of IT skills. It is crucial that the proper investments are made in training in technology skills, global client orientation and English language skills. TCS´ investment in collaboration with the Uruguayan government could serve as a valuable example of public-private co-operation to meet this growing need," said Bob Welch, Group VP and GM of IDC's Global Services Research. |
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| TCS invests more than 6 percent of its annual revenues in training and development and will bring in experts from across the world to serve as faculty in its Latin America Training Center. The center is also expected to give a boost to the local software industry in Uruguay and help promote technology careers and jobs in the country. "We intend to train over 3,000 employees in the next four years in a wide range of technologies, methodologies, language skills and cultural sensitivity in serving clients from offshore," said Mario Tucci, Vice President of TCS Iberoamerica. |
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| TCS currently runs an extensive Global Delivery Network in Latin America with centers in Uruguay, Brazil, Argentina and Chile serving over 150 clients. The Uruguayan operations, which recently underwent a major expansion, employ over 800 professionals and also provide nearshore services to major US and Europe headquartered clients. "We chose Uruguay as a location for this regional training center due to its geographic centrality, excellent human resources, high quality academic environment and superior cost structure. This center will serve as a backbone to our high growth plans in Latin America by ensuring our human resources in this region are at par with the best in the world," added Gabriel Rozman, President of TCS Iberoamerica. |
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| About Tata Consultancy Services Ltd (TCS) |
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| Tata Consultancy Services Limited (TCS) is the world leading information technology consulting, services, business process outsourcing and engineering services organization that envisioned and pioneered the adoption of the flexible global business practices that today enable companies to operate more efficiently and produce more value. TCS achieved this by creating and perfecting a unique method of global deployment and delivery of high quality, high value services and products in IT consulting and business process outsourcing. Known as the "Global Delivery Model," this strategic services delivery concept has reshaped the IT services industry. |
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| More than 95% of TCS customers reward the company's reliability, passion, creativity, and unique ability to handle the broadest range of their IT needs by continually extending and deepening their partnerships with TCS. With over 80,000 of the world's best trained IT and BPO consultants located in 35 countries, TCS is uniquely positioned to deliver its flexible world class services seamlessly to any location. TCS reported consolidated revenues of $2.97 billion (U.S.) in the fiscal year 2005-2006. The company is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information: www.tcs.com |
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| About TCS Iberoamerica |
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| TCS Iberoamerica (TCSI) is the business arm of Tata Consultancy Services that operates across the Spanish and Portuguese speaking region of the world. Over 4,000 local consultants provide high quality IT services, Consulting and BPO services to over 150 regional and global clients across 14 countries in Mexico, Central America, South America, Spain and Portugal. TCSI operates Global Delivery centers (GDC) in Brazil & Uruguay at CMMi Level 5, the highest quality standard for the industry, and maintains a Global BPO Services center in Chile. |
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