Tata Consultancy Services Recognized for the Creation and Commercialization of Intellectual Property and for Boosting Creativity and Innovation in India
NEW DELHI | MUMBAI, October 21,2022: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has won the National Intellectual Property Award 2021 & 2022 in the category ‘Top Indian Company for Creating Brand in India and Abroad’ and the World Intellectual Property Organization’s (WIPO’s) Users Trophy.
The Indian Intellectual Property Office confers the National Intellectual Property Awards to recognize individuals and enterprises for their creation and commercialization of intellectual property (IP), contributing to the country’s intellectual capital and creating an IP ecosystem that boosts creativity and innovation.
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™ 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 helped expand its share of its customers’ growth and transformation spends on initiatives such as business model innovation, customer experience reimagination, and tapping new revenue streams.
“We are honored to receive the National Intellectual Property Award and WIPO Trophy. TCS brands have a strong resonance in the market and these awards are recognition of our constant endeavor to build differentiated solutions to help our customers achieve their business goals. It reflects the role that TCS plays in partnering with its customers over the long-term relationship, leveraging its contextual knowledge, investments in research and innovation and intellectual knowledge, and technology expertise to help them achieve their purpose-led transformation goals,” said Ashvini Saxena, Head, Components Engineering Group, TCS.
Hon. Piyush Goyal – Union Minister for Commerce & Industry, Govt of India, presented both the awards to TCS during National IP Conference 2022, an event organized by Indian Intellectual Property Office, Department for Promotion of Industry and Internal Trade and Capacity Building Commission in New Delhi.
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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