Report Cites Tata Consultancy Services’ Extensive Intellectual Property, Including the Quartz™ Solution, and Ecosystem Mindset, as Key Strengths
NEW YORK | MUMBAI, February 12, 2020: 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 Everest Group PEAK Matrix® for Enterprise Blockchain Services, for the second consecutive year. Additionally, it was named a Star Performer for having top quartile year-on-year improvement in its scores.
The report highlights that TCS differentiates itself by building extensive intellectual property encompassing analysis frameworks, delivery methods, proprietary platforms such as Quartz™, and vertical solutions. It goes on to say that an ecosystem-centered thinking to build inter-industry and use-case-focused networks, helps TCS tap into its strength of running and managing platforms. According to the report, customers value TCS’ efforts to help develop business cases and understand return on investment.
“Organizations embracing Business 4.0™ require a shift in their mindsets to succeed in a decentralized and democratized digital age. To tap into the abundance, enterprises need to come together as part of a purposeful, incentivized, intelligent and experiential ecosystem powered by blockchain,” Lakshminarasimhan Srinivasan, Global Head, Blockchain Services, TCS. “This recognition is a validation of our vision and thought-leadership, investments, and capabilities in this space.”
“Our Quartz Blockchain solution is fast becoming the preferred choice of customers pursuing ecosystem strategies – creating frictionless transactions and bringing together stakeholders across the value chain – because it helps deliver unmatched speed to market and is architected to co-exist with extant systems within the enterprise, thereby reducing program risks while getting the full benefit of the blockchain technology,” said R Vivekanand, Global Head, Quartz, TCS.
With Business 4.0 as the anchoring framework, Business Value Delivery Model for value realization, and the Quartz Blockchain solution, TCS is in a unique position to advise and support customers in their blockchain journey from ideation to full-scale deployment. This includes advisory services, consulting, methodologies, solutions, platforms, and full stack capabilities.
Quartz – the Smart LedgersTM solution, redefines how organizations can collaborate in an increasingly connected world, and leverage their collective strengths using blockchain technology. The suite comprises Smart Solutions, a set of ‘designed for blockchain’ business offerings for different industries; the Quartz DevKit, an intuitive, low code development kit for enterprises to quickly build and deploy blockchain applications on any popular blockchain platform; the Quartz Gateway for the integration of existing solutions with blockchain ecosystems; and the Quartz Command Center that can administer and monitor entire ecosystems.
Together, these solutions can help organizations set up truly connected ecosystems that run on blockchain technology, delivering real-time, efficient transaction processing based on a single source of truth on the ledger. The solutions can coexist with existing systems, support multiple blockchain platforms, and facilitate seamless integration with ecosystem participants.
Additionally, TCS has been investing in building blockchain platform solutions for ecosystems like a skills marketplace, multi-party loyalty management, e-mobility infrastructure, connected vehicles, and healthcare. These will help enterprises unlock significant business value as well as address some of the largest societal challenges.
“Enterprise-grade readiness of blockchain platforms and the evolution of underlying blockchain frameworks to align with specific business issues are signaling the next wave of blockchain adoption, from pilots to production. Leading IT service providers are developing capabilities to run and maintain blockchain networks while also driving consortia building efforts among clients,” said Ronak Doshi, Vice President, Everest Group. “TCS' vision for ecosystem-centered thinking and investments in proprietary platforms and verticalized solutions have enabled it to accelerate clients' blockchain journeys. Efforts to assist clients in accelerating the return on investment and the industry-leading growth of its blockchain services practices has helped TCS gain a Leader and Star Performer positions on Everest Group’s second edition of the blockchain services PEAK Matrix® assessment.”
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 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 446,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019, 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.
 Enterprise Blockchain Services PEAK Matrix Assessment 2020: Getting the Economics of Consensus Right; Ronak Doshi, Shrey Kalawatia, and Suseel Menon; Everest Group, December 2019
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