Everest Group Positions Tata Consultancy Services as a Leader in Banking Applications Outsourcing

MUMBAI, India, June 22, 2011 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 523540, NSE: TCS), a leading IT services, consulting and business solutions firm, today announced that Everest Group, an advisory and research firm on global services has recognized TCS as a Leader in large banking applications outsourcing relationships in its June, 2011 report.

Everest Group evaluated leading global IT vendors servicing large (>US$25 million), multi-year (>3 years) applications outsourcing engagements specific to the banking sector in terms of delivery capability and market success. The evaluation was based on the five key dimensions of Everest Group's proprietary PEAK Matrix: market success, scale, scope, domain investments and delivery footprint. On an aggregate basis, TCS received the highest scores out of all the service providers in the analysis across both market success and delivery capability.

"This report reaffirms our position as a global leader and innovator in providing IT services to the banking industry," said K. Krithivasan, Head of Banking and Financial Services at TCS. "Our best-in-class application development and maintenance offerings combined with our industry-specific knowledge help our clients enhance their service delivery, client loyalty and overall customer experience."

"Demonstrating deep vertical expertise is becoming key to service provider differentiation and success in the IT Applications Outsourcing market," said Amneet Singh, Vice President – Global Sourcing, Everest Group. "TCS' investments in building industry solutions for the Banking vertical coupled with its industry-leading operating scale and breadth of market coverage have allowed it to establish itself as a Market Leader for large Banking Applications Outsourcing relationships."

The full report can be found here: http://www.everestresearchinstitute.com/Product/11491

About Tata Consultancy Services (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model (GNDM™), recognized as the benchmark of excellence in software development. A part of the Tata group, India's largest industrial conglomerate, TCS has over 198,500 of the world's best-trained consultants in 42 countries. The company generated consolidated revenues of US $8.2 billion for year ended March 31, 2011 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.

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SOURCE Tata Consultancy Services

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