Leading consulting and business solutions organisation Tata Consultancy Services (TCS) was, on Wednesday, ranked as the world's "most powerful brand" in information technology services by a leading brand valuation firm.
Brand Finance's 2016 annual report evaluated thousands of the world's top brands to determine which are the most powerful and valuable brands. TCS emerged as the most powerful brand in IT services with a score of 78.3 points. It earned a rating of AA+ on a variety of measures such as familiarity, loyalty, job satisfaction and corporate reputation, the company said in a regulatory filing with the BSE.
"TCS's customer focus has been central to its recent success, but a closer look at our data shows strong and improving scores for brand investment and staff satisfaction too. It has emerged as a dominant force in the IT services industry and is the strongest brand in the sector. Its brand power is indisputable," said David Haigh, CEO of Brand Finance.
The multinational IT company is also the fastest growing brand within its industry in the last six years. Its overall brand value increased from $2.34 billion in 2010 to $9.4 billion in 2016.
"Customer centricity lies at the heart of our organisation and is a key driver for growth of the TCS brand. The efforts of our 344,000 employees—our best brand ambassadors—have helped our brand strength to be rated at the top of our industry," said N Chandrasekaran, CEO and managing director of TCS.
Disney was rated the most powerful brand across all industries, whereas Apple bagged the title for being the most valuable brand of 2016, Press Trust of India said.