TCS Positioned as a Leader in Life Sciences R&D BPO Services in IDC Marketscape
Tata Consultancy Services’ Advanced Drug Development platform based on cognitive computing, AI and Automation, and broad service offerings cited as key strengths
NEW YORK | MUMBAI, July 19, 2018: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader in the IDC MarketScape for Worldwide Life Science R&D BPO Services 2018.
The report credits TCS’ leadership to strong discovery research, clinical data management, and pharmacovigilance BPO services. Among other strengths, the report cites TCS’ innovation offering, the Advanced Drug Development platform, which provides BPaaS solutions based on cognitive computing, artificial intelligence (AI), and robotics automation.
“In a Business 4.0 world, life sciences companies are embracing digital technologies to drive faster clinical innovation, increase the returns from their R&D investments and meet the demands of an ever changing regulatory landscape,” said Debashis Ghosh, President - Life Sciences and Healthcare at TCS. “This recognition by IDC is a reflection of TCS’ deep understanding of the life sciences value chain and ability to align our strategy and offerings with our customers’ current and future needs.”
TCS partners with leading life sciences companies to drive innovation and reimagine their R&D processes by leveraging next generation platforms and emerging technologies. The company offers a full set of services spanning consulting, cognitive business operations and digital transformation services, as well as platform solutions in the life sciences sector.
TCS’ robust solutions use a combination of artificial intelligence, cognitive computing capabilities, robotic process automation and cloud to fully digitize the drug development process. TCS’ genomics and translational research offerings deliver differentiated value to life sciences companies by combining bioinformatics analysis and DNA sequencing lab capabilities for emerging genomics-driven R&D initiatives.
“While a variety of new business models are being considered and evaluated, companies are concurrently looking to better exploit both technological innovation and best practices from outside of the industry. With a focus on technology, it is clear that this paradigm shift has been long in the making. TCS' Business 4.0 thought leadership framework, strong technical focus and broad service offerings make it a preferred partner to address customers’ R&D BPO needs,” said Alan S. Louie, Research Director, IDC Health Insights Life Science R&D Strategies and Technology.
“Our deep industry expertise, contextual knowledge, digital technology expertise and advanced platform solutions enable enhanced patient centricity, drive better insights and improve productivity across the R&D value chain, resulting in higher business value for our customers,” added Debashis Ghosh.
About IDC MarketScape: IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
About Tata Consultancy Services:
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 the last fifty years. TCS offers a consulting-led, Cognitive powered, integrated portfolio of IT, Business & Technology Services, and engineering. 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 400,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $ 19.09 billion for year ended March 31, 2018 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 Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
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