Tata Consultancy Services (TCS) has become the second most valued brand in the information technology (IT) services sector globally, said Brand Finance in its latest Global 500 IT Services Ranking report. Brand Finance is a brand valuation consultancy.

The title of the world’s most valuable and strongest IT services brand is given to Accenture company.

While, Infosys has emerged as the third fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion.

Apart from TCS and Infosys, there are other major Indian brands figure among the top in the rankings, Wipro (7th), HCL (8th) and Tech Mahindra (15th).

However, IBM’s brand value now stands at fourth position at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020. The US technology major’s brand value has fallen significantly after the divestment of Kyndryl. The sale caused a loss of over $19 billion in revenue to IBM, impacting its brand value.

The ranking of TCS, valued at $16.8 billion, was propelled by its business performance and successful partnerships, said the report.

TCS grew its brand value by $1.84 billion (12.5 per cent) to $16.78 billion over the last 12 months. This growth is attributed to the company’s investments in its brand and its employees, customer equity, and strong financial performance, it said.

Reacting to the report, TCS said the ranking was a validation of its increased market relevance and focus on innovation and transformation of clients, their customers, and the larger community.

“Our new brand positioning ‘Building on belief’ captures our aspirations and convictions. Our ‘customer-centric focused’ strategy and focus on research and innovation over the last decade positions us to capitalise on upcoming opportunities,” Rajashree, chief marketing officer, TCS, said in a statement.

Salil Parekh, CEO, Infosys, said, “Our clients have rapidly scaled their digital adoption in the last two years and have reposed tremendous trust and confidence in our ability to help them transform.”

Image credit: BCCL