Brand Finance puts Tata Consultancy Services as fastest growing IT services brand
Brand Finance has also awarded the TCS brand a rating of AA+
New Delhi: India's largest software services exporter Tata Consultancy Services on Monday said it has been judged as the fastest growing IT services brand globally by Brand Finance, beating tech giants like IBM and Hewlett-Packard.
Brand Finance is a leading brand valuation firm, which assesses the dollar value of the reputation, image and intellectual property of the world's leading companies.
"The annual report ranks TCS as the fastest growing brand with in the IT services sector, with the company's overall brand value increasing by USD 3.04 billion in 2013, a growth rate of 58 per cent year-on-year," TCS said in a statement.
It represents a quadrupling of its brand value, which stood at USD 2.3 billion four years ago in 2010, TCS added.
The firm has put the brand value of TCS at USD 8.2 billion this year compared to USD 5.2 billion last year. TCS' total brand value now stands at USD 8.2 billion, ranking it among the industry's top four brands for the second consecutive year. Brand Finance has also awarded the TCS brand a rating of AA+, the top rating in the industry, the Mumbai-headquartered firm said.
The valuation firm has pegged the brand value of US-based software maker IBM at USD 41.5 billion in 2014, a growth of 10 per cent compared to last year. Brand value of US-headquartered Hewlett-Packard in 2014 has been put at USD 19.8 billion, representing a growth of 23 per cent from 2013.