TCS, Infosys consolidate their positions amid top three global IT brands
By siliconindia | Thursday, 19 January 2023, 02:25:52 PM IST
Tata Consultancy Services and Infosys grew their brand value to retain their positions as the second and third most valuable IT services brands, as per the ‘IT Services 25’ list prepared by UK-based consultancy Brand Finance for the year 2023.
India’s largest IT company TCS’ brand value was up 2% on year to $17.2 billion while Infosys’ valuation, too, was up 2% on year to $13 billion.
This year, TCS delivered many tailored transformation programs as clients migrated to various hybrid working methods. As a part of this, TCS was a key leader in engaging with new advances in big data, AI and ML to serve clients’ businesses, the report said.
“At the peak of the pandemic period, many global brands sought to optimise their operations for digital transformation and consulting to improve customer experience – leading to a boom for IT services brands. Infosys was at the lead of this, particularly parlaying the Infosys brand’s strong ESG credentials and a sustainable business model and commitments to environmental causes,” Brand Finance mentioned in its report.
The Bengaluru-based company is also leading by example by operating carbon neutrally for the past three years and continues to deliver on the goals stated in its ESG Vision 2030 first published in 2020, it added.
Accenture, whose brand value was up 10% to $39.9 billion, retained its position as the most valuable IT services brand in the world for the fifth consecutive year. “The brand continues to innovate in the field of information technology services and consulting,” the report stated.
HCLTech brand value rose 7% to $6.5 billion as its recent brand transformation has helped strengthen the brand in the near-term. The Noida-based firm too retained the eighth place in the global list.
LTIMindtree’s brand value grew 75% to $1.9 billion–making it the fastest-growing IT services brand after successfully completing a merger between L&T Infotech and Mindtree in 2022. It jumped three places to be ranked 19th on the list. “The brand has been able to use the benefits of economies of scale and pool its capabilities and resources, allowing it to push to deliver greater results to stakeholders,” the report stated.
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