Tata Consultancy Services Limited (TCS)
Tata Consultancy Services Limited (TCS) is an Indian multinational information technology (IT) service, consulting and business solutions company headquartered in Mumbai, Maharashtra. TCS operates in 46 countries. It is a subsidiary of the Tata Group and is listed on the Bombay Stock Exchange and the National Stock Exchange of India. TCS is the largest Indian company by market capitalization and is the largest India-based IT services company by 2013 revenues. TCS is now placed among the ‘Big 4’ most valuable IT services brands worldwide. In 2013, TCS is ranked 40th overall in the Forbes World’s Most Innovative Companies ranking, making it both the highest-ranked IT services company and the top Indian company. It is the world’s 10th largest IT services provider, measured by the revenues.
Tata Consultancy Services Ltd was founded in 1968 by a division of Tata Sons Limited. Its early contracts included providing punched card services to sister company TISCO (now Tata Steel), working on an Inter-Branch Reconciliation System for the Central Bank of India, and providing bureau services to Unit Trust of India. In early the Indian IT outsourcing industry grew rapidly due to the Y2K bug and the launch of a unified European currency, Euro. TCS created the factory model for Y2K conversion and developed software tools which automated the conversion process and enabled third-party developer and client implementation.
In July 2014, TCS became the first Indian company to cross the Rs 5 lakh crore mark in market capitalization. TCS had 199 offices across 44 countries and 124 delivery centers in 21 countries. At the same date TCS had a total of 58 subsidiary companies.
TCS’ services are currently organised into the following service lines (percentage of total TCS revenues in the 2012-13 fiscal year generated by each respective service line is shown in parentheses):
- Application development and maintenance (42.80%);
- Asset leverage solutions (2.70%);
- Assurance services (7.70%);
- Business process outsourcing (12.50%);
- Consulting (3.00%);
- Engineering and Industrial services (4.60%);
- Enterprise solutions (15.20%); and
- IT infrastructure services (11.50%).
TCS is one of the largest private sector employers in India, and the second-largest employer among listed Indian companies (after Coal India Limited).
TCS had a total of 276,196 employees as of March 2013, of which 31% were women. The number of non-Indian nationals was 21,282 as at March 31, 2013 (7.7%). The employee costs for the FY 2012-13 were US$4.38 billion, which was approx. 38% of the total revenue of the company for that period. In the fiscal year 2012-13, TCS recruited a total of 69,728 new staff, of whom 59,276 were based in India and 10,452 were based in the rest of the world. In the same period, the rate of attrition was 10.6%.The average age of a TCS employee is 28 years.