TCS designated as leader and 2012 star performer in capital markets application outsourcing by Everest Group research
Mumbai: Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions organisation, announced today that it has been designated as a leader and 2012 star performer in capital markets application outsourcing (AO) by the Everest Group
(Media-Newswire.com) - Mumbai: Tata Consultancy Services ( TCS ), a leading IT services, consulting and business solutions organisation, announced today that it has been designated as a leader and 2012 star performer in capital markets application outsourcing ( AO ) by the Everest Group, an advisory and research firm on global services, in its December 2012 report – Application Outsourcing in Capital Markets: PEAK Provider Landscape – Need for Speed: Capturing the Capital Markets Momentum. Among the attributes that earned TCS the prominent position are its strong customer base, partnerships with capital markets technology vendors, extensive portfolio of proprietary solutions for capital markets AO delivery and the capital markets-related modules of TCS BaNCS.
In this report, Everest Group analysed the capabilities of 20 leading AO service providers in the global markets sector. The providers were examined through the lens of Everest Group’s PEAK ( performance, experience, ability, knowledge ) Matrix, a composite index of distinct metrics related to each provider's capability and market success. Leaders exhibit top quartile performance across market success ( transaction activity ) and capability ( scale, scope, domain investments and delivery footprint ). The star performer designation is awarded to providers with the strongest forward movement over time.
TCS’s position as a leader is a reflection of the strength of its universal financial services platform BaNCS and other proprietary solutions, the enhancements it has made to its suite of data management tools, including those for data cleansing, data generation, data migration solutions and data masking, as well as its capital markets product implementation and market infrastructure partnerships. Further attributes that contributed to TCS's position as a leader include its continued growth in scale – over 20 percent in capital markets AO revenue year on year – and breadth of areas served within the capital markets domain, including depository, custody, reconciliation, investment banking, risk and compliance, wealth management and clearing, among others.
TCS earned the distinction of one of three star performers because it reported 30 percent revenue growth in capital markets AO revenue, won more than 20 large AO deals ( with a total contract value of more than $25 million ), expanded its capital markets AO practice significantly, and made continued investments in next-gen technologies such as mobility, cloud analytics, and big data as well as investments in an expanding proprietary suite of solutions and third-party alliances.
“TCS strengthened its leadership position, driven by strong domain focus, well-established scale, and positive market perception,” said Jimit Arora, vice president, Everest Group. “TCS continued to build on its leadership strengths with the largest scale among examined service providers, continued investments in next-generation technologies, and addition of multiple clients to its portfolio.”
“We are honoured to be recognised as a star performer and a leader in capital markets AO by the Everest Group,” said Susheel Vasudevan, vice president, head-banking and financial services ( Europe, UK, capital markets ), TCS. “TCS’s continued investments and increased domain footprint in the capital markets space speak to the value and expertise we provide our capital markets customers.”
This story was released on 2013-01-28. Please make sure to visit the official company or organization web site to learn more about the original release date. See our disclaimer for additional information.