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Tata Consultancy Services’ Extensive Experience in the Life Sciences Industry and Large Number of Pharmaceutical, Biotech and Medical Device Customers Cited as Key Strengths
NEW YORK | MUMBAI, April 26, 2022: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been positioned as a Leader in the IDC MarketScape for Worldwide Life Science Sales and Marketing IT Outsourcing Services1.
According to the report, “TCS has extensive experience in the life sciences industry, with a large number of customers in the pharmaceutical and biotech space, complemented by a large number of medical device customers.” It goes on to say that “TCS has diversified its life sciences customer portfolio with its consulting-led offerings, and the majority of the business is from the large companies with revenue exceeding $1 billion.”
“With our deep domain knowledge, investments in intellectual property and comprehensive suite of mar-tech solutions and services, we are helping life sciences customers harness the power of digital technologies in transforming their sales and marketing to drive business growth,” said Vikram Karakoti, Business Head, Life Sciences, TCS. “This recognition reflects our vision, strategies, innovation efforts, and capabilities to enable superior business outcomes for our customers.”
TCS collaborates with leading life sciences companies across the world to enable their digital transformation journeys. The company provides a full set of advisory and IT services and solutions across the life sciences value chain, including data and analytics, predictive and prescriptive analytics, genomics research, blockchain enabled clinical supply chain, AI enabled case processing, discovery collaboration, cognitive research, and digital labs. These solutions use a combination of cognitive computing capabilities, artificial intelligence, Internet of Things, robotic process automation and cloud to fully digitalize the life sciences value chain.
TCS’ sales and marketing services help life sciences companies drive transformations across CRM, sales force automation, analytics and insights, physician targeting, incentive and compensation management, e-learning and training, digital asset management, system validation, aggregate spend compliance, e-marketing, and collaboration services.
TCS heavily invests in research and innovation to help customers stay ahead of the curve. Its genomics labs offer capabilities such as DNA sequencing, translation research and marker validation. The TCS ADD™ platform reimagines the end-to-end drug development enhancing patient experience and making clinical trials more safe and agile. TCS’ Innovation Labs provide an ideal environment for research in cutting-edge technologies across domains. It also drives various solutions to accelerate the deployment of new business capabilities.
Michael Townsend, Research Director, Life Sciences Commercial Strategies, IDC, said, “Digital transformation is occurring at a rapid pace in life science companies, including in the sales and marketing space. TCS has demonstrated strong investments in the life science sales and marketing space, enabled by IP-based digital solution and products, helping it earn a position as a Leader.”
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.
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 592,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, 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 Sales and Marketing IT Outsourcing Services 2022 Vendor Assessment, Michael Townsend, IDC #US41808017, March 2022
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