Largest software exporter Tata Consultancy Services today said its brand value has jumped by over $1 billion in 2012, a growth of nearly 29 per cent to cross the $5 billion mark.
Quoting the latest report from international brand valuation firm Brand Finance, TCS said its “brand value rose to $5.247 billion in 2013, up from $4.068 billion in 2012. This is an increase of $1.179 billion or a growth of 28.9 per cent.”
TCS also said it is the single largest contributor to the overall Tata Brand, which is now ranked as the world’s 39th most valuable brand with a combined brand valuation of $18.23 billion.
The Tata Group company also said it has retained its position among the “Big 4” most valuable IT services brand worldwide. It further said the company attained the highest rating of AA+ in brand strength during the year. Just three IT companies have AA+ rating.
The London-based Brand Finance assesses the value of brands, in dollar terms, in regard to reputation, image and intellectual properties.
Commenting on the recognition, TCS Managing Director and Chief Executive N Chandrasekaran said, “The rapid evolution and recognition of brand TCS at a global level is a testament to the passion and dedication of our over 2,60,000 employees, who as “brand ambassadors” continue to ensure an industry leading client experience, which keeps strengthening our reputation and brand in the global market.”
“TCS continues its rapid increase in brand value and cements its position as a “Big Four” IT services brand. Its strong performance across brand related activities like client engagement, community development, sponsorships, and employee satisfaction has earned it a place in the elite club of only three AA+ rated IT services brands,” said Brand Finance CEO and founder David Haigh.