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Tata Consultancy Services Recognized for the Creation and Commercialization of Intellectual Property and for Boosting Creativity and Innovation in India
MUMBAI, October 18, 2023: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has won the National Intellectual Property Award 2023 in the category ‘Top Public Limited Company for Patents Filing, Grant & Commercialization in India in the field of Service/Others Sector’ and the World Intellectual Property Organization’s (WIPO) National Award for Enterprises.
The Indian Intellectual Property Office confers the National Intellectual Property Awards to recognize and reward the top achievers comprising of individuals, institutions, organizations, and enterprises, for their IP creations and commercialization, which have contributed towards strengthening the country’s IP ecosystem, and encouraging creativity and innovation.
TCS has always been at the forefront of innovation with its deep market insights and contextual knowledge aimed at helping customers in their growth and transformation journeys. It 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 new promising 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, including generative AI. 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.
TCS has accelerated its ability to create newer innovations and increase the economic value of its IP for enhanced business opportunities. The company has filed 7,665 patent applications and has been granted 3,153 patents, as of September 30, 2023.
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™ and the TwinX™ platforms for communications and media companies, ignio™ cognitive automation suite, Jile™ enterprise Agile planning and delivery tool, TCS MasterCraft™ suite of intelligent automation products, and TCS Intelligent Urban ExchangeTM for sustainability-related innovation.
“TCS’ robust intellectual capital has significantly enhanced its capacity to create greater value for customers, improve products and services leading to newer business models, and resulting in better customer experience. The National IP Award and WIPO Trophy serve as a clear testament to our unwavering commitment to deliver customer-centric, innovative, and differentiated solutions to aid our customers in achieving their business objectives. TCS remains steadfast in leveraging its deep domain knowledge and cutting-edge technology to create out-of-the-box innovation supported by an ever-scaling portfolio of patents across a range of emerging technologies, and thus solidifying our position as the preferred partner for our customers’ growth and transformation initiatives,” said Ashvini Saxena, Head, Components Engineering Group, TCS.
Shri Piyush Goyal – Union Minister of Commerce & Industry, Govt of India, presented the National IP Award to TCS during National IP Conference 2023, an event organized by Indian Intellectual Property Office, Department for Promotion of Industry, and Internal Trade in New Delhi. Shri Som Prakash – Minister of State in the Ministry of Commerce & Industry, Govt of India, and Daren Tang - Director General of WIPO, presented the WIPO National Award for Enterprises to 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 55 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions 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 608,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $27.9 billion in the fiscal year ended March 31, 2023, and is listed on the BSE and the NSE 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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