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Tata Consultancy Services Helps its Clients Develop and Implement their Sustainability Strategies, and Improve Outcomes
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NEW YORK | MUMBAI, June 5, 2023: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been positioned as a Leader in the IDC MarketScape for Worldwide ESG / Sustainability Strategy Consulting Services[1].
“TCS is helping progressive enterprises develop their sustainability strategies and implement them across business operations. TCS supports clients in every stage of their sustainability journey from understanding legislative requirements, leveraging digital technologies to accelerate sustainability, developing a business function and partner ecosystem, identifying areas for sustainability disruption to transitioning to new business models,” said Krishnan Ramanujam, President, Enterprise Growth Group, TCS. “TCS’ position as a Leader in this report is a reflection of our vision, investments in building newer capabilities, extensive portfolio of sustainability services and solutions, consulting-led approach, and the resultant market success.”
TCS offers a comprehensive suite of over 200 sustainability services and solutions addressing the environmental, social and governance (ESG) priorities across different industry verticals. On the environmental front, TCS’ solutions help enterprises decarbonize their operations and create net-zero pathways, restore natural capital, and become responsible water stewards. It helps them embed circularity in their products and services, by helping design agile, resilient, and sustainable supply chains and promoting reuse, recapture, and recycling.
On the social front, it provides digital solutions to promote health, safety and wellness at the workplace, and accessibility solutions for greater inclusivity. In governance, TCS offers solutions and services that drive better compliance management, data-driven decision-making, enhanced reporting and for governments to offer better citizen services. TCS’ proprietary solutions include:
TCS Clever Energy™: The award-winning platform leverages IoT, AI, machine learning and digital twins to help organizations reduce energy consumption, decrease associated carbon emissions, and save energy costs in commercial and office buildings, retail stores, warehouses, and factories.
TCS Envirozone™: A digital solution powered by sustainability data ecosystems that helps organizations track and mitigate supplier-sourcing risks to aid procurement decisions for a sustainable supply chain. By helping organizations track key activities across 150 ESG key performance indicators, the solution transforms how organizations collect data to assess sustainability performance and mitigate risks from the supply chain.
TCS ESG Integration Framework and Solution Accelerator: A flexible framework and solution accelerator to measure and track sustainability impact with a pre-built indicator library for regions, countries, sectors, and sub-sectors along with the data point relationships. The solution complements financial risk and analytics solutions and has been implemented for major financial infrastructure firm.
TCS Digital Sustainability Assessment Solution: Digital assessment of the prospective clients, suppliers, end customers and their projects, using a robust and flexible TCS assessment framework that has pre-built sector and sub-sector specific screening guidelines along with exclusions. The assessment framework can also be configured to report on widely accepted ESG guidelines and sustainability frameworks like GRI, SASB, and IR.
TCS also helps clients accelerate their sustainability innovation, leveraging its ecosystem of partners from academia, start-ups, and technology providers. It works closely with customers at TCS Pace Ports, its network of co-innovation hubs spread across New York, Pittsburgh, Toronto, Amsterdam, and Tokyo, to ideate on their most pressing sustainability concerns, rapidly prototype the most promising solution candidates and build them. These solutions result in more sustainable operations, products and services, and even new revenue streams from innovative business models.
“TCS takes a truly holistic and intersectional approach to sustainability strategy and bridges individual ESG issues while also developing services that account for the inherent link between environmental and social topic areas. TCS’ wealth of experience, comprehensive set of industry- and geography-specific ESG products and services, and ability to deliver large scale engagements, have positioned it as a Leader in this assessment,” said Dan Versace, ESG Business Service Research Analyst, IDC.
About IDC MarketScape:
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
[1] IDC MarketScape: Worldwide ESG/Sustainability Strategy Consulting Services 2023 Vendor Assessment, doc #US49044922,February 2023
ABOUT TATA CONSULTANCY SERVICES (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 55 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development
A part of the Tata group, India's largest multinational business group, TCS has over 614,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $27.9 billion in the fiscal year ended March 31, 2023, and is listed on the BSE and the NSE in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com
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