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    TCS   INE467B01029


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Tata Consultancy Services : TCS Extends its Lead in Customer Satisfaction in Survey of European Businesses

02/02/2022 | 01:59am EST
  • Tata Consultancy Services Ranked Number One for Ninth Consecutive Year in Whitelane Research Survey of 1,800 CxOs from Top IT Spending Companies in Europe
  • TCS' Overall Satisfaction Score is84%; the Lead Over the Nearest Competitor has Increased to4 Percentage Points vs 1 Percentage Point in the 2020/ 2021 Report

AMSTERDAM | MUMBAI, February 2, 2022: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), has been ranked number one for customer satisfaction across Europe, in an independent survey of CxOs from top IT spending organizations by Whitelane Research.

Whitelane Research's 2021/ 2022 IT Sourcing Study is based on responses from 1,800 CIOs and senior decision makers across 12 European countries. The research investigated over 4,000 unique IT sourcing relationships to assess service providers on nine Key Performance Indicators (KPIs), including service delivery, relationship, commercial and transformation.

TCS has achieved the top position in customer satisfaction for the ninth consecutive year, with an overall satisfaction score of 84 percent compared to the industry average of 75 percent. Moreover, TCS has expanded its lead over its closest competitor, scoring 4 percentage points higher versus 1 percentage point in the prior year's survey.

TCS demonstrated strong results across multiple dimensions:

  • By KPI: Topped the ranking in cloud capability and service delivery quality; among the top 3 in innovation, business understanding, account management, and contractual flexibility.
  • By IT domain: #1 in all IT domains - application development, maintenance, and testing; data center, managed infrastructure, and hosting; and end-user services.
  • By Annual Contract Value: #1 in customer satisfaction in both small and large contracts (annual value <€5 million and >€5 million respectively).
  • By Industry: #1 in financial services, energy and utilities, and transportation and logistics.

"It is very gratifying that customers across Europe have ranked TCS first in customer satisfaction for the ninth consecutive year. In extending our lead, we have once again proven ourselves as the purpose-driven, resilient and adaptable partner our customers trust in their wider growth and transformation journeys," said Sapthagiri Chapalapalli, Head, TCS Europe. "We are very thankful to our customers for their trust in us, which in turn motivates us to intensify our commitment through innovation, transformation and execution. As we welcome the dawn of sustainable enterprise, we will continue to expand our diverse array of talent, in order to further exceed their expectations, and create purpose-led growth for organizations across Europe, alongside the communities they operate in."

"The Corona pandemic has put the world and the global aviation industry in a deep crisis," saidCharlotte Svensson, Executive Vice President & CIO, SAS. "Airlines were among the first businesses to shut down and will probably be among the last to be back to normal. During this crisis, TCS has shown to be a true strategic partner to SAS, supporting us to increase our speed in development and our resilience in operations by taking on an even bigger commitment in our delivery."

"We began our transformation journey with TCS in 2018. Since then, we have developed a trusted relationship with a partner who understands our business, delivers reliable solutions, promptly addresses challenges, and is committed to achieving results," saidBrian Kudeba, Vice President, IT Strategy & Transformation, Ipsen.

Hansjoerg Magalhaes, Global Product Manager, ERP Commercial & Supply, Takeda, said, "TCS and Takeda have been partners for 5 years and supporting Takeda's ERP digital transformation initiatives for almost 3 years. We are enjoying a true end to end partnership with TCS and during particularly challenging times TCS has proven a reliable partner. I am not surprised that TCS has been ranked #1 in the Whitelane Customer Satisfaction Survey for the 9th time running and I would like to congratulate TCS on this achievement."

"This is the ninth consecutive year that Tata Consultancy Services has been ranked the top position based on responses from business leaders operating in multiple European markets," said Jef Loos, Head of Sourcing, Whitelane Research. "In every project that TCS is involved in, their dedicated teams demonstrate an unrivalled focus on innovation and customer satisfaction, and this has helped the company become the most trusted IT services provider in Europe. To maintain such a high customer satisfaction score - especially during another year of challenges related to working in a pandemic - is a great accomplishment, and one that deserves celebration."

Present in Europe since 1975, TCS helps leading European customers drive their growth and transformation initiatives. It currently provides technology solutions and products to more than 350 clients across the region. TCS employs about 15,500 associates across 21 European countries and intends to invest in hiring more local employees across Europe. The company is committed to being a sustainable, purpose-driven business that is rooted in the community. Last year, TCS launched Pace Port™ Amsterdam, a co-innovation and advanced research center designed to help customers successfully navigate their growth and transformation journeys.

TCS was recently recognized as the number one Top Employer in Europe by the Top Employers Institute and it has risen to become the second most valuable IT services brand worldwide, according to Brand Finance, the world's leading brand valuation firm. The company is fully committed to investing in its people and providing more equitable job opportunities to make a positive long-term impact. By continuing to focus investment on innovation and empowering its staff, TCS is building a truly sustainable workforce for the future and helping customers achieve their most ambitious digital transformation objectives.

In addition to publishing its annual Europe-wide report, Whitelane Research also publishes individual country-specific reports throughout the year and hosts events across Europe.

About Tata Consultancy Services (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 556,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $22.2 billion in the fiscal year ended March 31, 2021 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com.

TCS Media Contacts Asia Pacific

Email: wenjian.lin@tcs.com

Phone: +65 9695 9948

Australia and New Zealand

Email: kelly.ryan@tcs.com

Phone: +61 422 989 682


Email: Tiffany.fisher@tcs.com

Phone: +1 416-456-7650


Email: joost.galema@tcs.com

Phone: +31 615 903387


Email: saxena.kritika@tcs.com

Phone: +91 22 6778 9999

Email: vanshika.sood@tcs.com

Phone: +91 22 67789098

Middle East & Africa

Email: s.hasneen@tcs.com

Phone: +00971567471988


Email: douglas.foote@tcs.com

Phone: +81 80 2115 0989

Latin America

Email: martin.karich@tcs.com

Phone: +569 6170 9013


Email: peter.devery@tcs.com

Phone: +44 20 3155 2421


Email: william.thomas@tcs.com

Phone: +1 203 984 3978


TCS - Tata Consultancy Services Ltd. published this content on 02 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 February 2022 06:58:07 UTC.

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Sales 2023 2 219 B 26 903 M 26 903 M
Net income 2023 423 B 5 126 M 5 126 M
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P/E ratio 2023 28,5x
Yield 2023 2,31%
Capitalization 12 048 B 146 B 146 B
EV / Sales 2023 5,28x
EV / Sales 2024 4,79x
Nbr of Employees 592 195
Free-Float 27,7%
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