Tata Consultancy Services (TCS) said it will deploy an enhanced policy management solution for Phoenix Group, Europe’s largest life and pensions consolidator and a TCS client of 12 years. The move will not only give more advanced features for Phoenix Group, but also increase the number...
TCS
TCS acquires US-based management consultant Bridgepoint Group
Tata Consultancy Services said it has acquired the business of BridgePoint Group, LLC, a U.S. management consulting firm that caters to the financial services industry and specializes in retirement services, “through the purchase of select company assets”. The company did not disclose the value of...
TCS, Fortive expand partnership to IoT solutions
Outsourcing services provider Tata Consultancy Services and instrumentation and industrial automation company Fortive Corp said they would work together to develop Internet-of-Things-based solutions. TCS is already Fortive’s outsourcing partner. Fortive provides solutions in the fields of instrumentation, transportation, sensing, product realization, automation and specialty, and...
TCS to provide clearing software for Boursa Kuwait
India’s biggest private sector employer, Tata Consultancy Services, said Kuwait Clearing Company, the clearing entity of Boursa Kuwait, has chosen its software to provide CCP services. A central counterparty clearing house (CCP) is a corporate entity that reduces counterparty and default risk for traders. It...
Reliance Industries 10 rupees away from $100 bln market cap, after TCS
Three months after Tata Consultancy Services became the first Indian company to achieve a market capitalization of $100 bln (Rs 6.85 lakh cr), Reliance Industries is close to the $100 bln mark as well. At present, there are only around 100 companies in the world...
TCS to change campus hiring program from this year; make it ‘agile’
Tata Consultancy Services, the country’s largest private sector employer, said it plans to make some changes to its methodology used to hire fresh graduates from campuses from this year. Speaking to BTVI, HR head Ajoyendra Mukherjee said campus hiring for the next financial year (2019-20)...
TCS opens new DC in Paris as Macron tries to entice more investment
Tata Consultancy Services said it opened its third delivery center in France, with a capacity to seat up to 230 employees. The new DC is being opened at Suresnes near Paris. The company, which opened its first delivery center in 2012 and a second one two...
TCS doubles M&G Prudential deal to £1 bln
Tata Consultancy Services announced a major expansion of its recently announced deal to take over administration of around 4 mln life and pensions contracts from M&G Prudential, the savings and investments business of Prudential. The deal, announced in January this year, was worth pegged at £500 mln (half...
Infosys CEO Salil Parekh dismisses growth concerns
Infosys CEO Salil Parekh reassured investors that the IT services behemoth was not facing a growth crisis because of the replacement of traditional sourcing models with digital services. He said new age services — such as analytics, marketing, digital product design, digital system integration, cloud...
TCS to help UK’s Marks & Spencer become ‘digital first’
Tata Consultancy Services said it has entered into a five-year deal with long-time customer and retail chain Marks and Spencer to transform its customer experience and make it a ‘digital first’ business. “TCS will be Marks & Spencer’s principal technology partner and drive agility, intelligence,...
TCS takes over Transamerica’s insurance administration, 2,200 employees
Tata Consultancy Services said it will take over the policy administration and customer service functions of US insurer Transamerica along with 2,200 of its employees in a $2 bln-plus, multi-year deal. The Indian company will migrate the administration of over 10 mln insurance policies on...
TCS reports 1.2% sales growth QoQ, PAT up 1.3%
Tata Consultancy Services reported a 1.3% improvement in revenue in constant currency terms, which is less than the 1.7% improvement reported in the previous quarter, but largely in line with expectations for a tame quarter. Revenue grew 6.2% on year in constant currency terms. In...
TCS sets up new delivery center in Hyderabad for US-based Zebra Technologies
Tata Consultancy Services, India’s biggest foreign exchange generator, said it has set up a Global Development Center in Hyderabad to cater to Zebra Technologies, a billion-dollar US corporation that specializes in tracking technologies such as bar codes and RFID. The new center will provide “operational...
TCS inaugurates mega campus in Thane, to eventually relocate most Mumbai employees
Tata Consultancy Services said it inaugurated the first phase of Thane delivery center that will have the capacity to seat 30,000 employees when fully developed, which will make it the largest in Mumbai. The company, which has a huge operation in Vikhroli in the city,...
TCS carries out cloud migration for Malaysian Airlines
Tata Consultancy Services, the country’s largest exporter of services, said it has successfully implemented a cloud transformation of Malaysia Airlines, making it the world’s first full-service airline to migrate fully to the cloud. Cloud transformation refers to the replacement of packaged software — which is...
Indian IT sector margins to fall to 21.2% from 23.5% by 2020 – ICRA
Indian IT companies will continue to struggle to maintain growth rates and their margins will continue to fall in line with the trend seen in the last few quarters, credit rating agency ICRA said. The rating agency predicted a sharp decline in revenue growth rate...
TCS Q2 results comes largely in line with expectations
Tata Consultancy Services Ltd, the country’s largest IT services exporter, reported revenue largely in line with expectations, while net profit fell slightly. Revenue was 30,541 cr, up 4.3% on year. Dollar and constant currency numbers have not yet been revealed. Operating margin was 25.1%, up...
TCS Diligenta wins 15-year deal UK insurance deal from Scottish Widows
Tata Consultancy Services said it won a 15-year deal from Scottish Widows insurance company to provide end-to-end policy administration services for its 4 million heritage customers. The deal from the Lloyds Banking Group’s Life and Pensions unit was won by TCS’s UK subsidiary Diligenta, which...
TCS launches AI-based IT incident prevention solution in Japan
Tata Consultancy Services launched its artificial intelligence-based IT repair and prevention solution, ignio, in Japan. “When System outages occur today, businesses dedicate vast resources to rectify the problem. Oftentimes, multiple teams are called together to identify the root cause and devise resolution plans. “This can...
TCS to create apps on Siemen’s IoT platform MindSphere
Tata Consultancy Services said it will create applications on MindSphere, the cloud-based, open IoT operating system from Siemens. IoT stands for ‘Internet of Things’ and refers to connectivity between two machines over the Internet, with zero human interface. Examples include a connection between a smart...