TCS Recognized as a Leader in IDC MarketScape for Life Sciences Drug Safety Services
Tata Consultancy Services’ Drug Safety Services Teams, Broad Portfolio of Solutions, and Strong Technical Understanding of the Drug Safety Space, Cited as Key Strengths
NEW YORK | MUMBAI, 16 March, 2020: 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 Life Science Drug Safety Services, Worldwide1.
According to the report, “Within the life science drug safety services space, TCS' strength lies in its well-established foundation of drug safety BPO offerings to large pharmaceutical clients.” It goes on to say that, “Relative to other vendors and based on feedback from multiple customer references, TCS received high marks for the strength of its drug safety services teams, broad portfolio of solutions, and its strong technical understanding of the drug safety space.”
“Life sciences companies are investing in next-gen technology and platform solutions to bring drugs to market faster, while driving operational excellence and meeting the need of the ever changing regulatory environment,” said Debashis Ghosh, Business Group Head, Life Sciences and Healthcare, TCS. “This recognition is a strong validation of our transformative vision, commitment to innovation, strong foundational capabilities for drug safety services, proactive investments in transformative platforms, and the outcomes they drive for customers.”
TCS partners with leading life sciences companies to enable transformation across the value chain with a full set of services and platform solutions including IT and advisory services, pharmacovigilance analytics, cognitive computing, regulatory services, laboratory platforms, process automation, genomics research, cloud, and image analytics. Early investments in re-skilling the workforce, building agile workplaces, and developing intellectual property have helped TCS gain significant scale and depth in next-gen technologies.
The company’s extensive portfolio of intellectual property – including the award winning TCS ADD suite of platforms, Cognitive Commercial Intelligence Platform, TCS Connected Clinical TrialsTM platform, and investment in innovation labs help customers achieve better speed to market and superior business outcomes. TCS’ next-gen platform solution, AI in Pharmacovigilance – powered by its technology engine, Decision Fabric™ – enables intelligent automation for its customers.
"As the industry evolves beyond traditional blockbuster business models, companies continue to embrace an externalized services model focused on operational excellence on a global scale, deep industry knowledge (both technical and scientific), and company-specific operational familiarity with people and processes. TCS' investments in both Drug Safety specific and industry-agnostic COEs, strong technical understanding of the drug safety space and commitment to innovation makes it a strong partner to address customers' growth and transformation agenda." said Alan S Louie, Research Director, IDC Health Insights Life Science R&D Strategies and Technology Research.
“Our deep domain expertise, broad portfolio of solutions, contextual knowledge of our customers’ businesses, and investments in research, innovation and intellectual property, make us a trusted partner to drive transformation 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 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 TM, 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.
1 IDC MarketScape: Worldwide Life Science Drug Safety Services 2019-2020 Vendor Assessment — Building for Innovation, doc #US45863116, January 2020
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