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Tata Consultancy Services’ Business 4.0™ Framework, Capabilities in Med-Tech and Business Transformation, Value-Based Consulting, and Cross-Business CXO-Level Focus, Cited as Key Strengths
NEW YORK | MUMBAI, September 15, 2021: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been named a Leader in the IDC MarketScape for Worldwide Life Science R&D Strategic Consulting Services[1].
The report highlights that, “TCS is fortifying its capabilities in the med-tech space, and its business transformation capabilities, providing an end-to-end automated, agile, and Intelligent Business 4.0™ framework; end-to-end business operations ownership; value-based consulting; and a cross-business CXO-level focus.” It goes on to say “TCS has been recognized for the strategic direction that it brings to its large clinical transformation programs, providing advisory services for regulatory and clinical IT landscape transformation, R&D business capabilities mapping, R&D long-range planning, and portfolio simplification and its expertise in everything related to data.”
“The pandemic has brought unprecedented collaboration and acceleration in life sciences companies’ R&D initiatives. These companies are partnering with TCS to develop the right transformation strategy, innovatively harness next-gen technologies such as AI, IoT and blockchain to accelerate and expand their R&D programs, enhance business outcomes and achieve purpose-led growth,” said Vikram Karakoti, Global Co-Head, Life Sciences, TCS. “This leadership position is a reflection of our strong vision, consulting capabilities, investments in innovation and the resultant market success.”
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 M&A and divestitures, IT consulting, supply chain management, 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, IoT and cloud to fully digitize the life sciences value chain.
Using its Business 4.0 thought leadership framework, deep industry expertise, and intellectual property, TCS’ life sciences consultants work collaboratively with customers and harness collective knowledge to draw up transformation roadmaps and design technology-led solutions with measurable impact in areas such as patient centricity, accelerated drug discovery, and clinical development.
TCS has also invested heavily in research and innovation capabilities in the life sciences domain. Its genomics labs offer capabilities such as DNA sequencing, marker validation, and translational research.
A critical transformation lever is TCS’ flagship intellectual property, TCS ADD, a cloud-native, cognitive platform that reimagines the end-to-end drug development value chain using digital technologies to enhance patient and user experience, and improve clinical trial outcomes. The platform leverages the TCS Decision Fabric™ AI engine and spans data standardization, data management, analytics and insights, safety, regulatory, supply management, patient and site engagement, and devices and connections.
IDC MarketScape vendor assessment 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.
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 500,000 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.
[1] IDC MarketScape: Worldwide Life Science R&D Strategic Consulting Services, 2021 Vendor Assessment, IDC #US48159321, August 2021
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