Tata Consultancy Services was Recognized for Incorporating Intellectual Property at the Heart of its Strategy to Cultivate Next-Generation Business Assets
PRESS RELEASE
TOKYO | MUMBAI, November 03, 2022: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been recognized with the Intellectual Asset Management (IAM)’s Asia IP Elite award 2022 at the Intellectual Property Business Congress Asia 2022 in Tokyo.
This is the seventh time that TCS has made the Asia IP Elite 2022 list which recognizes companies across Asia that demonstrate a sustained commitment to building best-in-class in-house Intellectual Property (IP) functions and continuous excellence in IP value creation.
According to the IAM Special Report 2022 Q2, Tata Consultancy Services has been leading by example by not only being one of the top contributors for increase in the number of domestic patent applications in India but also by very publicly preaching the value-creation opportunities that strategic IP management can create in a large IT services business, or in any big organization.
TCS has built a culture of innovation and has put in place robust processes and supporting structures to nurture, manage, and scale up the development of intellectual property. It systematically identifies promising new ideas from across the organization and invests in developing those further.
The Research and Innovation function within each business unit enables domain-specific innovation harnessing the power of digital technologies. This has resulted in an industry-leading portfolio of intellectual property consisting of patents, products and platforms that provide competitive differentiation to TCS, and immense strategic value to its customers.
Over time, the pace of patent filing has accelerated and TCS now generates over a dozen patent applications every week. The company has filed 6,922 patent applications and has been granted 2,560 patents, as of September 30, 2022.
TCS’ intellectual property portfolio includes a comprehensive set of products and platforms that address enterprises’ business and technology needs across industries. These include the TCS BaNCS™ suite for financial institutions, Algo Retail™ suite consisting of TCS Optumera™ and TCS Omnistore™, TCS ADD platform for the life sciences industry, TCS HOBS™ platform for digital telcos and beyond, TwinX™ enterprise digital twin platform, ignio™ cognitive automation suite, Jile™ enterprise Agile planning and delivery tool, and TCS MasterCraft™ suite of intelligent automation products.
With sustainability-related innovation gaining steam, TCS has leveraged its deep expertise in IoT, advanced analytics, and machine learning to come up with a suite of offerings in this space, including intellectual property such as TCS Intelligent Urban Exchange™ (IUX), TCS Clever Energy™, IP2™ and TCS Envirozone™.
TCS continues to invest in newer capabilities and intellectual property to provide deep value to its customers and proactively pitch ideas and solutions specifically designed to address customer’s requirement. With the help of its patent portfolio, TCS products and platforms create market disruption to provide unique differentiation for the customer, enabling them to differentiate themselves, and drive their bottom line and top line growth.
“We are honored to receive this recognition from IAM. TCS harnesses its intellectual capital to explore new ideas and the creative use of technologies to solve various business problems. Using our award-winning IP 4.0 program and deep domain knowledge, we have developed an extensive portfolio of patents across a range of emerging technologies and processes, and industry-leading suite of products and platforms, making us the preferred partner for our customers’ growth and transformation initiatives,” said Ashvini Saxena, Head, Components Engineering Group, TCS.
Recently, TCS also won the National Intellectual Property Award 2022 in the category ‘Top Indian Company for creating a brand in India and abroad’ and the World Intellectual Property Organization’s Users Trophy.
About Tata Consultancy Services (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 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 606,000 of the world’s best-trained consultants in 55 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
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