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Tata Consultancy Services’ Strong Capabilities in Blockchain-Based Systems, and Blockchain Platforms and Productized Solutions Were Highlighted as Key Strengths
PRESS RELEASE
LONDON | MUMBAI, August 14, 2023: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been recognized as a Leader in the Everest Group PEAK Matrix® for Enterprise Blockchain Services.
The report notes that clients commend TCS for its ability to deploy holistic teams with strong capabilities in front-end design and back-end development of blockchain based systems. It highlights TCS’ market recognition for its blockchain platform and productized solutions that accelerate blockchain adoption. This is augmented by TCS’ proprietary Quartz suite of solutions that enable the acceleration of key use cases within specific industries, and help organizations create value-based ecosystems by leveraging blockchain technologies. The report goes on to say that clients appreciate TCS for its flexible and competitive commercial models of engagement and its ability to scale up critical blockchain engagements.
“TCS is making continuous investments in blockchain, ensuring that customers can unleash the power of decentralized ecosystems and drive transformational initiatives for their customers and stakeholders. The strong traction for Quartz, our flagship IP solution in the blockchain space, combined with our deep consulting and services expertise across industry verticals, truly sets TCS apart in our ability to help customers embrace cutting edge technologies effectively,” said R Vivekanand, President, BFSI Products & Platforms, TCS. “This leadership position is a validation of our strategy on enabling enterprise adoption of blockchain at scale through our investments in intellectual property, creation of a pool of blockchain experts, as well as our contextual knowledge of business processes across domains.”
As blockchain evolves, it has emerged as a foundational technology with a demonstrated ability to increase trust, transparency and traceability of data across business networks. TCS offers a unique value proposition by bringing together its blockchain based Quartz Smart solutions suite, comprehensive portfolio of tools and accelerators, tailored partnerships and services, through an integrated, consulting-led framework. This framework empowers customers with a 360-degree view of their blockchain adoption journey and provides them the opportunity to leverage TCS’ cross-industry domain knowledge, experience across multiple blockchain platforms, protocols, and partner ecosystems, helping them accelerate enterprise business transformation.
TCS’ Quartz™ suite of solutions are architected for co-existence, integration, and interoperability, enabling customers to assimilate distributed ledger technology into their businesses seamlessly. The suite comprises Smart Solutions, a set of ‘designed for blockchain’ business offerings for different industries; the Quartz DevKit, a smart contract development kit to enable programming of high-quality code on multiple blockchain platforms, with preconfigured ledgers for accelerated deployment; the Quartz Gateway for the integration of existing solutions with blockchain ecosystems; and the Quartz Command Center that can administer and monitor entire ecosystems.
“As blockchain technology further establishes itself within the enterprise ecosystem, novel approaches to collaboration and value creation are taking shape,” stated Parul Trivedi, Practice Director, Everest Group. "TCS, with its comprehensive team's adept in both front-end design and backend development of blockchain-based systems, has positioned itself as a trusted entity in this evolving landscape. Furthermore, TCS' blockchain platforms and productized solutions, recognized in the market for accelerating adoption and enabling key use cases, withing specific industries, further bolsters its standing as a Leader in Everest Group's PEAK Matrix® assessment for Enterprise Blockchain Services.”
About Quartz – The Smart Ledgers™
Quartz, The Smart Ledgers, encapsulates a unique TCS approach, which comprise predefined, off-the-shelf ledger structures, data models, functions and APIs for business processes across industries. These serve as “building blocks” on top of which solutions can be developed and deployed seamlessly, thus enabling customers to implement decentralized solutions faster, in an agile manner, and at scale. Quartz facilitates the creation of decentralized ecosystems and caters to organizations across industry segments including financial services, banking, supply chain, energy & utilities and e-governance.
To know more about Quartz, please visit: https://www.tcs.com/what-we-do/products-platforms/quartz
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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