Do you know which is the largest IT services company by revenue and Total Market Capitalization in India today.
It’s Tata Consultancy Services
Popularly named as TCS by all Indians, it is a leading global IT service, consulting, and business solutions organization. The company traces its history back to 1968 when it was founded by Faquir Chand Kohli, Tata Sons, and J.R. D. Tata.
Tata is practically everywhere. Every product we use today has some role of the Tata empire in it. The group has become one of India’s most respected business conglomerates because it grounds itself on five core principles- Integrity, Excellence, Responsibility, Pioneering, and Unity.
The TCS network of partners includes well-reputed software providers, platform and IT infrastructure vendors, and niche technology developers. Some of its partners are Oracle, Google Cloud, Microsoft, Bosch, IBM, Hewlett Packard Enterprise, Salesforce, and Ayehu to name a few.
Let’s quickly talk about 10 important facts about the company (TCS) that we bet you didn’t know.
1. INVESTS IN STARTUPS
Can you list the name of all the startups, TCS has invested in? There are many.
In the words of Ratan Tata “If you want to walk fast, walk alone. But if you want to walk far, walk together.” Ratan Tata’s style of investment and funding is remarkable as all the investments he has done so far have emerged as giants in their respective sectors.
He has made investments in startups like Ola, Paytm, Lenskart, Abra, Urban Clap, Xiaomi, Infinite Analysis, and Zivame among others. Tata’s investments helped these companies raise their profile and funds. His investment strategy for growth and business developments makes Tata a giant and progressive company.
The company invested Rs. 3,000 crores in FY21.
2. TCS VACCINATION LEAGUE
In the hot summer of 2021, there was only one discussion that was going on in every home – how to book a slot to get the Covid 19 vaccination done. At that time, TCS received an internal email about a company-wide vaccine registration drive and guess what? TCS signed up for this initiative immediately.
More than 60 TCS facilities across 20 cities and 330 medical partner-run vaccination centres across 30 cities were set up for this mass vaccination program.
“Through the TCS Vaccination League, We ensured that our associates and dependents got access to Covid-19 Vaccinations in a safe and hygienic environment in a massive exercise spanning across the metros and tier 2/3 cities across India,” said Milind Lakkad, EVP And CHRO, TCS.
3. HUMILIATION BY FORD
Can we think of any company which doesn’t suffer from losses or regretted taking bad decisions? Certainly not. The same happened with TCS too.
The company was not living its good days in 1998 and faced challenges due to huge losses. It decided to sell Tata’s car business to Ford in 1999. However, an incident with Ford officials changed the course of history that eventually led to the cancellation of the deal.
The industrialist was humiliated for not knowing much about the car business but it took its revenge in 2008 and successfully bought Ford’s Jaguar and Land Rover. Ford chairman also thanked Ratan Tata for doing this big favor to the Ford group.
4. NUMBER OF EMPLOYEES
TCS has been ranked as the Number One Top Employer in Europe, MEA, and the Asia Pacific. But do you know the actual number of employees that TCS works with?
As of July 2022, Tata Consultancy Services has over 606,331 employees all over the world. In the year 2005, it had only 45,714 employees.
The total number includes employees of 153 nationalities across 55 countries. TCS has consistently averaged between 34% and 40% female hires (Feb 2022) over the last four years. The company is currently providing employment to more than 201,000 women.
5. CONTRIBUTION IN THE EDUCATION SECTOR
TCS has become the leading provider of digital education content and professional development for K-12 classrooms. Recently, they announced the launch of Ignite My Future in School, an initiative to use computational thinking to transform education in America.
This program aims to enable educators, administrators, and school districts to become ambassadors of a transdisciplinary approach. It also aims to introduce computer science within the content of subjects like English, Mathematics, Science, Social Studies, and Arts.
6. AWARDS AND RECOGNITION
The company takes pride in the honorary awards that it has received so far. It received Overall Most Outstanding company in India by Asiamoney’s 2019 Asia’s Outstanding Companies poll. It has been ranked #22 on the Forbes 2000 list of the World’s Best Regarded Companies in 2019.
TCS was honored with #1 for customer satisfaction for the sixth consecutive year in Europe’s largest independent survey of IT service providers, carried out by Whitelane Research in 2018. TCS today has become one of the prominent companies to be admired for its leadership skills all over the world.
Moreover, the best IT company has got the best CEO. The company’s CEO was ranked ‘Best CEO’ in institutional Investor’s All Asia Executive Team rankings 2018. TCS has also won Two Microsoft Partner of the Year Awards in 2021.
7. TATA NANO: DISCONTINUATION
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Have you heard about the hullabaloo that Nano cars made in 2008? The credit of it goes to TCS.
Tata Motors was launched at the 2008 Delhi Auto show with an initial price of Rs 1 lakh. Although Ratan Tata created a car that is cheap enough for Indian families to trade in their motorbikes but it became a loss-making model.
The company also admitted that it made a huge mistake by launching this car. Unfortunately, the company produced zero units of Nano in 2019 and there were no sales recorded in January 2018 in the domestic market either.
8. AID FOR CANCER PATIENTS
Are you acquainted with the fact that giving is the greatest act of grace? TCS does.
When it comes to doing charity, TCS always stays at the forefront. TATA trusts decided to contribute Rs. 1000 crore to improve cancer-care facilities and to give better access to treatment for cancer patients in states like Rajasthan, Jharkhand, Uttar Pradesh, and Andhra Pradesh.
It also committed nearly Rs. 1200 crore to set up new cancer facilities and strengthen existing infrastructure in 2018 to bring better treatment closer to patients. It also plans to build four new cancer hospitals and community health centers.
9. RESEARCH AND DEVELOPMENT BOOM
Which is the first Research center setup in Pune?
It’s the Tata Research Development and Design Center (TRDCC)
TCS takes the credit of becoming the first company to set up the first-ever software research center in Pune. Tata Research Development and Design Center (TRDCC) researches in software engineering, process engineering, and machine learning.
Today, TRDCC is the largest R & D facility among the innovation center at TCS. The center made a prolific innovation by inventing a low-cost water purifier that can be manufactured using locally available resources. The project came to be known as Swach (formerly known as Sujal).
10. DONATION TO HARVARD BUSINESS SCHOOL
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Have you heard about HBS and TCS’s biggest donation to it?
In 2013 Tata Group donated $50 million (Rs 220 crore) to Harvard Business School (Boston, USA) from the Dorabji Tata Trust and the Tata Education and Development Trust. The Group became the largest donor ever in the School’s 102-year history.
However, Tata Trusts was accused of favouring Harvard over underprivileged Indian Universities. It was alleged that trusts were committing blatant tax violations. It has denied allegations and misuse of any kind of exemptions.
The argument was backed by the fact that HBS has educated more than 400 MBAs and over 2200 executives and senior government leaders from India.
CONCLUDING REMARKS
These are a few facts about Tata Consultancy Services that one must read. We hope that TCS explores more into the business world and always follows the five principles that it has been following since its establishment.
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