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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Tata Consultancy Services    TCS   INE467B01029

TATA CONSULTANCY SERVICES

(TCS)
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Delayed Quote. Delayed NSE India Stock Exchange - 01/27 06:14:10 am
3261.05 INR   -0.92%
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Tata Consultancy Services : TCS Global Survey Finds 90% of Large Enterprises are Maintaining or Increasing Digital Transformation Budgets Amid COVID-19

09/30/2020 | 09:04am EST

Tata Consultancy Services' Survey Benchmarks Six Essential Digital Capabilities Needed to Thrive in Rapidly Evolving Global Markets.

Less Than One-third of Companies are Digitally Prepared, But Those with the Most Enhanced Digital Capabilities Expect to Bounce Back Faster From Pandemic-related Revenue Declines

Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced the findings of its global survey titled, 'Digital Readiness and COVID-19: Assessing the Impact,' revealing that 90% of organizations are maintaining or increasing their digital transformation budgets amid the pandemic.

The global survey engaged almost 300 senior business leaders from large enterprises - 97% with revenue above $1 billion and 44% above $10 billion - spanning 11 industries across North America, Europe and Asia. Six digital capabilities were identified as critical factors in companies withstanding the pandemic:

End-to-end digital customer experience (CX)

AI-based analytics to continually improve the CX

Core enterprise systems in the cloud

Highly automated core business processes

Digital sensors tracking products

Key partnerships in digital ecosystems

The analysis compared organizations that had more advanced digital capabilities in place prior to COVID, referred to as 'leaders,' with those that had fewer, if any, in place, known as 'followers.' The study showed that fewer leaders (64%) have seen their revenue decline, compared to followers (73%). Moreover, leaders had better business visibility and a more confident outlook, with 74% of them expecting revenues to bounce back within two years, compared to 54% of followers.

'Before the pandemic, companies' digital capabilities were rapidly becoming central to their success and business transformation initiatives. However, our study revealed how several enterprises were not as far along in developing a digital backbone as they hoped,' said Rajashree R, Chief Marketing Officer, TCS. 'Companies that had embraced digital transformation more whole-heartedly performed better during the pandemic and expect a faster rebound, whereas others are now focused on making necessary investments and racing to catch up.'

Digital Readiness and COVID-19: Assessing the Impact - Key Findings

While 68% of companies have seen revenue declines amid COVID-19, 90% of organizations have either maintained or increased their digital transformation budget.

Among shifts in technology spends due to the pandemic, companies reported maximum increases on: collaborative technologies (65%), cybersecurity (56%), cloud-native technologies (51%) and advanced analytics (39%).

Prior to the pandemic, the average organization surveyed had only 9% of its workforce working mostly from home. That percentage has increased seven-fold and is expected to remain elevated through 2025, when the average company projects 40% of its employees will work largely from home.

Business initiatives around an end-to-end CX have seen most traction, already deployed at 25% of companies and under development at 44%. Similarly, the use of analytics and AI to improve CX is deployed at 24% and under development at 39% of companies.

Higher levels of automation in core business processes is another priority area, already deployed at 23% of companies and under development at 44% of companies.

The full survey findings can be found here.

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 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 AgileTM 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 443,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $22 billion in the fiscal year ended March 31, 2020, 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.www.tcs.com.

For TCS global news, follow @TCS_News.

TCS Media Contacts

Asia Pacific

Email: charlene.lee@tcs.com

Phone: +65 9138 4370

Australia and New Zealand

Email: Kelly.ryan@tcs.com

Phone: +61 422 989 682

Benelux

Email: Joost.galema@tcs.com

Phone: +31 615 903387

Canada

Email: tia.thomas@tcs.com

Phone: +1 647 790 7602

Central Europe

Email: anke.maibach@tcs.com

Phone: +49 172 6615789

Europe

Email: mattias.afgeijerstam@tcs.com

Phone: +46723989188

India

Email: arushie.sinha@tcs.com

Phone: +91 22 6778 9960

Japan

Email: douglas.foote@tcs.com

Phone: +81 80 2115 0989

Latin America

Email: martin.karich@tcs.com

Phone: +569 6170 9013

Nordics

Email: roland.bagen@tcs.com

Phone: +46703178024

UK

Email: peter.devery@tcs.com

Phone: +44 20 3155 2421

USA

Email: william.thomas@tcs.com

Phone: +1 203 984 3978

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 1 644 B 22 501 M 22 501 M
Net income 2021 329 B 4 507 M 4 507 M
Net cash 2021 264 B 3 619 M 3 619 M
P/E ratio 2021 37,0x
Yield 2021 1,45%
Capitalization 12 063 B 165 B 165 B
EV / Sales 2021 7,18x
EV / Sales 2022 6,27x
Nbr of Employees 469 261
Free-Float 26,9%
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Tata Consultancy Services Technical Analysis Chart | TCS | INE467B01029 | MarketScreener
Technical analysis trends TATA CONSULTANCY SERVICES
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 40
Average target price 3 259,03 INR
Last Close Price 3 261,05 INR
Spread / Highest target 28,1%
Spread / Average Target -0,06%
Spread / Lowest Target -42,3%
EPS Revisions
Managers and Directors
NameTitle
Rajesh Gopinathan CEO, MD & Non-Independent Executive Director
Natarajan Chandrasekaran Non-Executive Chairman
N. Ganapathy Subramaniam COO & Non-Independent Executive Director
V. Ramakrishnan Chief Financial Officer
K. Ananth Krishnan Chief Technology Officer
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