Tata Consultancy Services

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This analysis of Tata Consultancy Services is part of our coverage of the world’s 10,000 largest companies.

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Company Description

Tata Consultancy Services (TCS) is a leading global IT services, consulting, and business solutions organisation based in India since its founding in 1968. It offers a wide range of services, including IT consulting, software development, infrastructure management, and business process outsourcing in markets across the globe. Its products and services are customised to meet the needs of clients in industries such as banking, financial services, insurance, manufacturing, retail, media and entertainment, healthcare, and travel and transportation. TCS serves clients in more than 45 countries worldwide.

Industry Overview

Tata Consultancy Services operates in the Information Technology Services (ITS) industry, which is estimated to be a USD 441 billion industry in 2020. It has a total of 472,000 employees across 46 countries and has a presence in six continents. The largest concentration of its employees are based in India, followed by the United States and the United Kingdom. Additionally, it has a presence in countries like China, Japan, Germany, and Australia.

Industry Classification

In terms of formal classification, Platform Executive has tagged Tata Consultancy Services as a business operating within the Consumer Services industry.

Major Products & Services

The main products and/or services commercialised by this business include:

  • IT Consulting Services
  • Business Process Outsourcing (BPO) Services
  • IT Infrastructure Services
  • Business Intelligence & Analytics Services
  • Cloud Computing Services
  • Application Development & Maintenance
  • Enterprise Solutions
  • Engineering & Industrial Services
  • Digital Transformation Services
  • Artificial Intelligence (AI) Solutions
  • Internet of Things (IoT) Solutions
  • Blockchain Solutions
  • Cyber Security Solutions
  • Quality Assurance & Testing Services

Table of Contents

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Competitive Landscape

Tata Consultancy Services operates in a highly competitive environment within the global information technology industry. The company faces fierce competition from other multinational consulting businesses, as well as smaller, specialised businesses. The market is constantly evolving, with emerging technologies and new players entering the scene, making it crucial for Tata Consultancy Services to continuously innovate and stay ahead of the curve. The competition is not only limited to traditional IT services, but also extends to digital and cloud-based solutions. With customer demands becoming more complex and diverse, Tata Consultancy Services must consistently demonstrate its expertise and adaptability to remain competitive in this cutthroat market.

Key Competitors

We have identified the following organisations as being key competitors:

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Key Stakeholders

Stakeholders are individuals or groups affected by a business's actions. Understanding their needs helps a business make decisions that benefit all parties.

Internal and external stakeholders include the following:

1. Employees: Employees are at the heart of TCS’s business and are key stakeholders. They are responsible for delivering innovative solutions and services to TCS’s clients.

2. Clients: Clients are the most important stakeholders for TCS as they are the primary source of revenue. Clients depend on TCS to provide quality services and solutions that help them succeed in their business objectives.

3. Investors: Investors provide the necessary financial resources to TCS, enabling the company to grow and succeed. They expect TCS to generate returns on their investments.

4. Suppliers: Suppliers are key stakeholders for TCS as they provide the necessary goods and services that TCS needs to deliver quality services to its clients.

5. Government: Government agencies and regulations play an important role in TCS’s business model as they set the rules and regulations that govern the industry.

6. Communities:

Customers and Cohorts

The main customers of the organisation include:

  • Financial Services
  • Retail
  • Manufacturing
  • Healthcare
  • Government
  • Education
  • Technology
  • Telecommunications
  • Media and Entertainment
  • Life Sciences and Pharmaceuticals 1Transportation and Logistics

Competitive Advantages

Competitive advantages are unique attributes, strategies, resources, or capabilities that allow an organisation to outperform its competitors and achieve superior market position and profitability.

Competitive advantages for the business include the following:

Cost Advantage: Tata Consultancy Services (TCS) has a large global presence and is able to leverage economies of scale in order to offer competitive rates for its services.

Global Delivery Model: TCS has established a global delivery model which enables them to provide faster and more cost-effective services to their customers.

Innovation: TCS is continuously innovating, creating new solutions and technologies to meet the needs of their customers.

Quality Assurance: TCS has a stringent quality assurance process which ensures the quality of their services and products.

Flexibility: TCS is able to customise their services to meet the requirements of their customers.

Experienced Professionals: TCS has a team of experienced professionals who are experts in their respective fields.

Strategic Alliances: TCS has established strategic alliances with other technology and consulting companies in order to provide the best services to their customers.

Market Trends

Market trends can significantly impact an organisation by influencing consumer behavior, altering supply and demand dynamics, and ultimately affecting the organisation’s ability to remain competitive in the market. Staying ahead of these trends enables businesses to proactively adapt their strategies, mitigate risks, and capitalise on emerging opportunities.

As part of this study, we have identified a number of potential trends that could impact the organisation. These include the following:

Market Trends

Key Performance Indicators

Key Performance Indicators
KPIs (Key Performance Indicators) are important to a business such as Tata Consultancy Services as they help measure progress towards achieving organisational goals and objectives. They provide a useful insight into the performance of different areas of the Tata Consultancy Services business and therefore enable informed decision-making.

KPIs also help to motivate employees towards achieving targets.

Below is a list of Key Performance Indicators we deem relevant to this company:

Brand Strength

Brand strength is more than a logo or name. It reflects a company’s reputation and how it is perceived by customers, investors, and employees. It is built on core values, mission, and a unique selling proposition (USP) that differentiates the business.

Brand strength goes beyond superficial elements and taps into core values, the defined mission, and unique selling proposition (USP) of a company.

Below are key reasons why brand strength matters:

Trust and Credibility: In a market flooded with choices, customers gravitate toward brands they trust. A strong brand signals reliability and quality, fostering customer loyalty. Loyal customers not only make repeat purchases but also advocate for the brand, driving word-of-mouth growth.

Brand Strength Analysis

Differentiation: A strong brand helps a company stand out in competitive markets by clearly communicating its value proposition. It creates a unique identity, establishes a competitive edge, and positions the company as a leader in its industry. For example, Google is synonymous with internet search.

Customer Loyalty: A positive brand experience builds emotional connections, making customers less price-sensitive and willing to pay a premium. Loyal customers generate repeat business and act as brand ambassadors, reducing customer acquisition costs and boosting long-term profitability.

Talent Acquisition and Retention: A strong brand not only attracts top talent but also enhances employee morale and engagement. Employees who identify with a reputable brand are more motivated, productive, and committed, driving better business outcomes.

Benchmarking Brand Strength

Below is a guide as to the scoring mechanism used to gauge the brand strength of this company:

A

The company enjoys an excellent level of brand strength.

  • This score signifies that the company has developed a highly regarded and well-recognised brand.
  • Customers and the wider community perceive the company as trustworthy, reliable, and superior to competitors.
  • The company enjoys a strong connection with customers, who actively engage with and advocate for the brand.
  • The company's brand effectively communicates its unique value proposition.
  • The corporate attracts and retains top talent, and its reputation extends beyond its target market.
B

The company has a good brand strength, indicating that it has a solid and respectable brand presence.

  • Customers generally have positive perceptions of the company.
  • While the company may not be as distinctive or well-known as the top brands, it still differentiates itself from competitors and enjoys a loyal customer base.
  • The brand inspires some level of customer engagement and advocacy.
  • The company attracts top quality employees and maintains a good reputation. People want to work there.
C

The business has an average brand strength, meaning it is neither strong nor weak in the marketplace.

  • Customers perceive the company as ordinary or run-of-the-mill, lacking an emotional connection or distinctiveness.
  • The company faces challenges in standing out among competitors and needs to better communicate its proposition.
  • Decent level of customer satisfaction, but significant there is room for improvement in terms of brand loyalty.
  • The company's reputation is neither a huge positive, or negative.
D

The company's brand is quite weak. Work required to increase its potential.

  • Customers have mixed or negative perception of the company, associating it with average or below-average quality.
  • The business struggles to differentiate itself from its competitors and lacks a compelling value proposition.
  • Customer engagement and brand loyalty may be minimal, requiring some effort to improve the brand experience.
  • The company's reputation may have encountered challenges, poor press, or may not be well-known in the market.
E

The company's brand is weak and fails to resonate with customers and audiences. This needs to be addressed.

  • Customers perceive the company as being too unreliable, lacking in quality, or irrelevant.
  • The company struggles to differentiate itself from competitors, and there is a lack of customer engagement, or loyalty.
  • The company's reputation may be tarnished or negatively perceived, hindering growth efforts.
  • Significant efforts are required to rebuild the corporate brand and establish a more positive image in the market.
F

The company has a severe lack of brand strength. It is a problem that needs addressing with urgency.

  • The company is poorly recognised, and customers have negative perceptions or zero awareness of its offerings.
  • The company fails to communicate its unique value proposition or inspire customer loyalty.
  • The company's reputation may be highly unfavourable, and attracting customers or top talent is challenging.
  • Immediate and extensive actions are likely necessary to revitalise the brand.

Brand Strength Score

Scoring brand strength is subjective because it relies on individual perceptions and interpretations of various factors, such as customer sentiment, market dynamics, and the competitive landscape, which can vary.

Using our scoring methodology, the average score of a business is calculated as being C (average). This differs from the average score of the top 10,000 businesses featured in our coverage. Weighted to that cohort, the average brand strength score increases to a B (good).

The analysis team have noted the following factors impacting its brand strength:

  • Reputation: TCS has a strong reputation for providing quality services, with high customer satisfaction scores.
  • Recognition: The Tata Consultancy Services brand is well-recognised in the IT and technology industries, as well as in markets around the world.
  • Presence: TCS has a strong global presence, with offices in over 50 countries across the globe.
  • Innovation: TCS has been recognised for its innovative solutions and services, with several awards and recognitions.
  • Brand Loyalty: TCS has a loyal customer base, with many customers returning for repeat services.
  • Brand Strength Score: A

7Ps Marketing Analysis

The 7Ps of marketing are crucial components of strategic decision making for any organisation in any industry vertical.

Using the 7Ps in competitive analysis provides a holistic view of the marketplace, allowing businesses to refine their strategies, capitalise on competitors' weaknesses, and better meet consumer needs. The 7P's are defined as:

  • Product/Service
  • Price/Fee
  • Place/Access
  • Promotion
  • People
  • Physical Evidence
  • Processes

All these elements together frame an organisation's marketing mix, crucial for creating effective marketing strategies.

This 7P analysis is designed to provide a valuable insight into the business strategies of the company. It can be used to reveal strengths and weaknesses in their marketing mix, offering opportunities to compare and enhance a business.

1. Product/Services: Tata Consultancy Services offers a wide range of IT services including software development, consulting, and business process outsourcing. They also provide infrastructure and engineering services, as well as digital transformation solutions. The company prides itself on its innovative and cutting-edge technologies, which cater to the needs of various industries such as banking, healthcare, retail, and manufacturing.

2. Price/Fees: TCS follows a competitive pricing strategy, offering its services at market rates while ensuring high-quality deliverables. The company also offers flexible pricing models, including fixed-price and time-and-materials, to cater to the diverse needs of its clients.

3. Place/Access: TCS has a global presence, with offices in over 46 countries. This allows the company to provide its services to clients worldwide, ensuring easy accessibility and convenience.

4. Promotion: TCS leverages a multi-channel approach for promotion, including digital marketing, events, and partnerships. The company also uses targeted advertising and content marketing to reach its target audience and showcase its expertise.

5. Physical Evidence: As a service-based company, TCS focuses on providing tangible results and evidence of its capabilities to its clients. This includes case studies, client testimonials, and industry recognition as evidence of their successful projects.

6. Processes: TCS follows a structured and well-defined process for project delivery, ensuring efficiency and quality. The company also emphasizes continuous improvement and innovation in its processes to stay ahead of the competition.

7. People: TCS has a team of highly skilled and experienced professionals who are dedicated to delivering exceptional services to its clients. The company also invests in training and development programs to ensure its employees are up-to-date with the latest technologies and industry trends.

Potential Products

As part of this study, we have carefully examined and prognosticated a range of new products, services, or innovations that this organisation could potentially develop and introduce to strengthen its market position and respond to emerging industry trends.

Cloud Migration and Management Services: TCS could create a suite of cloud migration and management services to help organisations transition their existing applications and data to the cloud. This could include services such as cloud infrastructure planning and design, application development and optimisation, cloud data centre migration and optimisation, and cloud-based analytics.

Business Process Automation Solutions: TCS could develop a suite of automation solutions to help organisations streamline their business processes. This could include services such as digital process automation, robotic process automation (RPA), and artificial intelligence and machine learning-based solutions.

Cybersecurity Services: TCS could create a suite of cybersecurity services to help organisations protect their networks and data. This could include services such as vulnerability scanning, risk assessment, data protection and encryption, and incident response.

IT Infrastructure Management Services: TCS could develop a suite of IT infrastructure management services to help organisations maintain and optimise their IT infrastructure. This could include services such as server and storage management, network monitoring, database management, and disaster recovery planning.

Digital Transformation Solutions: TCS could create a suite of digital transformation solutions to help organisations transition their business models and operations to the digital world. This could include services such as digital strategy development, customer experience design, digital marketing, and data-driven decision making.

Potential Synergies

Our proprietary product and portfolio-matching algorithm has identified the following organisations as having strong potential synergies with the company, based on strategic alignment, complementary capabilities, and opportunities for collaboration across markets or domains.

1. Microsoft
2. IBM
3. Accenture
4. Wipro
5. Infosys
6. Cognizant
7. Capgemini
8. Oracle
9. HP
10. Deloitte

Porter's Five Forces

Developed by Michael Porter in 1979, Porter’s Five Forces is a model used to analyse industry attractiveness and evaluate competitive environments. It considers five forces:

  • Competitive rivalry
  • Supplier power
  • Buyer power
  • Threat of substitution
  • Threat of new entries

We include this framework because it supports strategic planning, investment decision-making, and long-term competitive positioning across industries by highlighting structural pressures, market threats, and potential profit constraints.

The Porters 5 forces for Tata Consultancy Services are:

1. Supplier Power: Tata Consultancy Services has a strong supplier base, which gives it a good negotiating position.

2. Buyer Power: Tata Consultancy Services has a large customer base, which gives it a good negotiating position.

3. Competitive Rivalry: Tata Consultancy Services has a large number of competitors, but it is the largest IT services company in India and has a strong brand name.

4. Threat of Substitutes: Tata Consultancy Services has a large number of substitutes, but it has a strong brand name and is the largest IT services company in India.

5. Threat of New Entrants: Tata Consultancy Services has a strong brand name and is the largest IT services company in India, which makes it difficult for new entrants to compete.

PESTLE Analysis

A PESTLE analysis is used to evaluate external factors affecting an organisation. It examines (1) Political; (2) Economic; (3) Social; (4) Technological; (5) Legal; and (6) Environmental influences. This framework helps businesses identify potential risks and opportunities in the macro-environment, supporting informed decision-making, strategic planning, and long-term sustainability in dynamic markets.

Reasons to use a PESTLE include:

  • Environmental Scanning: PESTLE helps assess external factors, keeping executives aware of key forces
  • Strategic Planning: It identifies opportunities and threats, aiding market alignment and goal-setting
  • Risk Assessment: PESTLE highlights risks, helping businesses develop mitigation strategies
  • Market Insights: It provides insights into trends, behavior, and regulations for better strategy development
  • Business Adaptation: Regular analysis allows businesses to stay competitive by adapting to changes

Below is the PESTLE analysis for this company:

PESTLE Analysis: political, economic, social, technological, legal, environmental

CATWOE Analysis

CATWOE

The CATWOE analysis helps businesses understand stakeholders' perspectives for informed decision-making, covering six elements:

  • Customers: Beneficiaries of the system’s outputs
  • Actors: Those who influence the system’s functionality
  • Transformation: Converting inputs into value-creating outputs
  • World View: The broader context behind the system’s existence
  • Owner: Decision-makers with authority over the system
  • Environment: External factors impacting the system

The CATWOE analysis is most effective when used alongside a SWOT analysis.

SWOT Analysis

This SWOT analysis is a strategic planning tool used to assess the strengths, weaknesses, opportunities and threats of the Tata Consultancy Services business.

When creating this SWOT the team at Platform Executive have taken into consideration the corporate strategy; brand; key financials; the competitive landscape; along with the products and/or services offered.

To offer increased context for future innovation and product development we also consider the historical context for the business and industry; and perceived direction of travel.

Upon researching the company, we have uncovered a number of strategic and operational strengths, weaknesses, opportunities and threats.

SWOT Analysis: strengths, weaknesses, opportunities, threats

Strengths

The strengths of a company refer to its internal attributes or capabilities that provide it with a competitive advantage.

Below is a list of the key strengths we have identified for the business:

1. Tata Consultancy Services is a leading global provider of IT services, consulting and business solutions.

2. TCS has a strong client focus and a long-standing commitment to delivering quality and value to its clients.

3. TCS has a proven track record in delivering large, complex projects on time and on budget.

4. TCS has a strong focus on innovation and has a proven track record in developing new technologies and applications.

Opportunities

Opportunities refer to factors that present potential avenues for growth, advantage, or improvement for an organisation.

Below is a list of opportunities we have identified for the business:

1. Expand into markets outside of India. Tata Consultancy Services (TCS) has a large presence in India and is a leader in the country, but the company has yet to break into western markets like the United States and the United Kingdom. Doing so could give TCS a significant boost in revenue and profits.

2. Increase the focus on digital transformation projects. Digital transformation is becoming a major focus for many companies and TCS has the expertise and experience to capitalise on this trend. By creating specialised teams dedicated to digital transformation, TCS could capture a larger share of this lucrative market.

3. Enhance customer service experience. Customer service is a key differentiator for TCS, and the company should continue to invest in this area. This could include investing in new customer service technologies, training employees in customer service best practices, and creating better customer service processes.

4. Invest in new technologies. TCS should continue to invest in cutting-edge technologies like artificial intelligence, machine learning, and blockchain. Doing so will enable the company to stay ahead of the competition and offer more innovative solutions to its customers.

Weaknesses

The weaknesses refer to factors that hinder a company's performance or competitive advantage.

Below is a list of the weaknesses we have identified for the business:

1. Lack of focus on core competencies: Tata Consultancy Services (TCS) has expanded its business beyond its core competency of IT services into areas such as business process outsourcing (BPO) and consulting. While this has helped TCS to diversify its revenue streams, it has also led to the company becoming spread too thinly, and not being able to excel in any one area. To address this, TCS should focus on its core competency of IT services and divest itself of non-core businesses.

2. Over-reliance on the Indian market: TCS generates the vast majority of its revenue from the Indian market. While this has been a growth driver in the past, it makes TCS vulnerable to any slowdown in the Indian economy. To mitigate this risk, TCS should focus on expanding its operations in other countries, particularly in developed markets such as the US and Europe.

3. Lack of an integrated delivery model: TCS has a disparate delivery model, with each business unit working independently of the others. This leads to inefficiencies and duplication of effort, and makes it difficult for TCS to leverage its scale. To address this, TCS should develop an integrated delivery model, whereby all business units work together to deliver a seamless customer experience.

4. High employee attrition: TCS has a high employee attrition rate, which has been a drag on the company’s profitability. To address this, TCS should focus on improving employee retention through measures such as better training and development programmes, and better pay and benefits.

Threats

The threats to an organisation refer to factors that pose challenges or risks to a company's success.

Below is a list of the threats we have identified for the business:

1. Talent Retention: TCS faces the challenge of retaining their talented employees as the IT industry has become highly competitive and other businesses offer higher salaries and benefits. This could lead to a decrease in employee morale and productivity.

2. Cybersecurity: As the number of cyber attacks increase, TCS faces the risk of data breaches and potential reputational damage due to the mishandling of sensitive customer information. To counter this, TCS needs to invest in the latest security technology and develop robust data protection policies.

3. Regulatory Compliance: TCS needs to ensure that its services comply with the increasingly stringent regulations and guidelines set by regulatory authorities in order to avoid penalties and fines.

4. Market Saturation: TCS operates in a highly competitive market, where the demand for IT services is saturated. This could lead to the company losing market share to smaller, more agile competitors. To counter this threat, TCS needs to focus on innovation and develop new products and services to stay ahead of the competition.

5C Analysis

The 5C Analysis is a marketing framework that can be used to provide insight into the key drivers of success, as well as the risk exposure to various environmental factors.

This (concise) 5C analysis examines the external and internal environment for Tata Consultancy Services. It includes analysing the company's customers, competitors, collaborators, context, and capabilities. We have produced this short analysis to identify potential opportunities and threats to Tata Consultancy Services, as well as areas where the company needs to improve its operations or strategy.
Company: Tata Consultancy Services (TCS) is a leading global IT services, consulting, and business solutions provider. They provide a range of services from consulting and system integration to digital transformation and business process outsourcing.

Collaborators: TCS has an extensive network of partners, including Microsoft, Oracle, Amazon Web Services, and IBM, that allow them to deliver comprehensive solutions to their customers. Additionally, they have a large pool of experts who work together to develop innovative solutions for their clients.

Customers: TCS works with a wide range of customers, from large enterprise organisations to small and medium-sized businesses. They provide tailored solutions that are tailored to the specific needs of their customers.

Competitors: TCS is a major player in the IT services space, and they compete with other large IT services providers, such as Wipro, Infosys, and HCL Technologies.

Content: TCS provides a range of content, including case studies, white papers, webinars, and articles, to help their customers stay up to date on the latest trends and technologies. They also offer a range of services and solutions, including cloud computing, analytics, and artificial intelligence, to help their customers deliver better results.
5C Analysis: company, customers, competition, collaboration, climate

MOST Analysis

MOST Analysis: mission, objectives, strategy, tactics

The MOST analysis framework is used to identify an organisation's strategic goals, assess its strengths and weaknesses, and develop a plan to achieve its objectives. The MOST analysis helps executives focus on what they want to achieve and how to achieve it, while also identifying potential roadblocks or obstacles.

  • Mission defines the organisations purpose and core values, providing a clear direction and inspiration for stakeholders
  • Objectives are specific, measurable targets that support the mission; they indicate what the organisation aims to achieve within a defined timeframe
  • Strategy outlines the high-level approach the organisation will undertake to reach its objectives, detailing how resources will be allocated and initiatives prioritised
  • Tactics are the actionable steps and specific plans that implement the strategy, ensuring that all team members understand their roles in achieving objectives

We have created this analysis from a 3rd person perspective.

Innovation Scorecard

The team at Platform Executive assesses and then benchmarks businesses and the industry verticals in which they operate using a proprietary scoring mechanism designed to benchmark innovation.

First, we allocate a score of A-E for the industry, based on the key organisations operating within the space; and then score the individual organisation using a 1-5 score.

A score of D-E within an industry means that it is potentially ripe to be disrupted by a new entrant; and/or vulnerable to technological change.

Likewise, a high score of 4-5 for the company in question indicates that it lags behind notable businesses in terms of innovation and product pipeline.

Below is a guide to each score:

Innovation Scorecard

Industry Score:

A The industry is amongst the most innovative; with the leading players all driving the sector forward.
Example industry: PaaS
B The industry and its leading players have a good track record of innovation; and can quickly react to change.
Example industry: Pharmaceutical
C Companies operating within the sector have adequate levels of innovation; and engage in R&D activities when appropriate.
Example industry: FMCG
DBusinesses operating in the industry do not invest enough time and resource into innovation. The sector is stagnant and a good candidate for disruption.
Example industry: Retail Banking
E The major players in the sector seem to lack suitable product development roadmaps; and as a result the sector is highly vulnerable to industry change.
Example industry: Publishing

 

Company Score:

1 The business is amongst the leading players in terms innovation and product pipeline. This will fulfil and reinforce the operations of the business in the medium to long-term.
2 The business has a good track record of innovation, in terms of its products and/or its business model. It is therefore more likely to be able to react and adapt to any changes to the industry.
3 The business is deemed to have an adequate innovation plan, build on research and development and sustainability where appropriate. The business has a product development strategy.
4The business needs to invest more resource and/or intellectual capital in product development, pipelines and/or its business model. The business is at risk of stagnation.
5 The business seems to lack a suitable product development roadmap; and as a result is vulnerable to any notable industry change and/or new entrants in the marketplace.
The team at Platform Executive has judged Tata Consultancy Services as having an innovation score of C3.

Appendices

The appendices section of this report contains supplementary information that we deem helpful in providing a more comprehensive understanding of the report.

Methodology

This study on Tata Consultancy Services forms part of our series of competitive intelligence reports, which focuses on 10,000 of the largest corporates.

The report is based on information and learning from the following sources:

  • Corporate websites
  • Proprietary research databases
  • SEC Filings
  • Corporate press releases
  • News articles
  • Financial data API's
  • Product-matching algorithm

Further Reading

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Disclaimer

All Rights Reserved.

Reproduction of the content produced in this report is prohibited without the prior permission of the publisher, Platform Executive Pty Ltd.

The facts of this report have been gathered in good faith from both primary and secondary sources. It is believed to be correct at the time of publication, but cannot be guaranteed. As such Platform Executive can accept no liability whatever for actions taken based on any information that may subsequently prove to be incorrect.

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