Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, today announced that it has been recognized as a Leader in Life Sciences IT Outsourcing (ITO) in Europe by leading advisory and research firm Everest Group.
The Everest Group report, 'IT Outsourcing in European Life Sciences Industry - Service Provider Landscape with PEAK Matrix Assessment 2014', acknowledged TCS for its engagements across key infrastructure and application towers, substantial revenue, strong growth in the Life Sciences ITO business and a balanced portfolio of deals across geographies. The report also recognized TCS' significant and ongoing investments in proprietary solutions and research.
''The demand for IT services by European Life Sciences majors is characterized by the distinctive nature of the global brands headquartered in Europe, an evolving business and regulatory landscape, mature sourcing practices and an increasing appetite for next-generation technology,'' said Jimit Arora, vice president, IT Services, Everest Group. ''TCS' positioning as a Leader in the European Life Sciences ITO market is a reflection of its sustained success with major clients in the region, and focused investments by the company in developing capabilities across the life sciences value chain.''
Debashis Ghosh, president, Life Sciences, Manufacturing and Energy, TCS, commented, ''The Life Sciences industry is evolving at a rapid pace which demands a strong strategic partner that understands the business and opportunities of the present and the future. We are honoured to be recognized as a Leader in Life Sciences ITO in the European market in this inaugural report from Everest Group. This is a testament to TCS’ extensive experience in the Life Sciences industry, investments and capabilities across geographies and we look forward to building on this success in 2015 and beyond.''
Shares of the company gained Rs 7.95, or 0.29%, to settle at Rs 2,703. The total volume of shares traded was 77,771 at the BSE (Tuesday).
