TCS Recognized as a Leader for Fourth Consecutive Time in Life Sciences R&D ITO Services by IDC MarketScape
Tata Consultancy Services’ Advanced Drug Development Platform, deep industry knowledge, strong technical focus and broad service offerings cited as key strengths
MUMBAI, August 20, 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 for the fourth consecutive time, in the IDC MarketScape for Worldwide Life Science R&D ITO Services 2018.
According to the report, TCS received high marks for its technical skills, deep industry knowledge, competent end-to-end project delivery capabilities, and ability to take greater project responsibility as more of a partner than a vendor. TCS' strong technical focus, success with prominent life science companies, and broad service offerings, were also highlighted as strengths.
“Life sciences companies are embracing emerging technologies to reinvent their R&D processes to meet the challenge of evolving business models, higher R&D costs, elongated drug approval timelines and increasingly complex regulations,” said Debashis Ghosh, President - Life Sciences and Healthcare, TCS. “This recognition of our leadership is a validation of our customer centricity and Business 4.0 vision that have been driving our investments in capabilities and future-ready solutions that are closely aligned to customer 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. TCS offers a full set of services spanning advisory, digital transformation, and cognitive business operations in areas such as digitization of clinical trials, paperless and integrated lab environment, Blockchain-enabled clinical supply chain, AI enabled case processing, and discovery collaboration. The solutions use a combination of artificial intelligence, cognitive computing capabilities, robotic process automation, Internet of Things and cloud to fully digitize life sciences value chain.
TCS’ genomics and translational research offerings also deliver differentiated value to life sciences companies by combining bioinformatics analysis and DNA sequencing lab capabilities for emerging genomics-driven R&D initiatives.
“Life science companies are looking to harness the power of new technologies to reimagine their R&D processes. With its Business 4.0™ thought leadership framework, depth in life sciences-specific technologies, scale in digital and innovative offerings like the Advanced Drug Development platform, TCS is well positioned to meet the transformation needs of its customers,” said Alan S. Louie, Research Director, IDC Health Insights Life Science R&D Strategies and Technology.
“Our investments in digital solutions, vast industry and technical knowledge, along with our broad digital capabilities, services and platforms, positions us as the preferred IT partner for our customers in the life sciences industry,” 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 Ltd. (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 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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