Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting, and business solutions organization, has been recognized as a Leader in the Everest Group PEAK MatrixTM for Blockchain Services.
The strengths highlighted in the report include TCS’ r~ccount-level thought leadership and proactiveness to take ecosystem-centric and business outcome-aligned blockchain services to customers. The report mentions that the company’s apps, infrastructure, and operations-focused message for blockchain is grounded in reality and closer to execution of projects; TCS has built work-arounds for technology limitations by launching proprietary solutions.
“Enterprises are moving from competition and battle for control of resources to an era of abundance, purpose-driven ecosystems, and shared control. Blockchain technology is a critical enabler of this shift. The combinatorial effect of blockchain with other next-gen technologies such as artificial intelligence, Internet of Things, and virtual reality, can not only drive , hyper productivity and business transformation, but also open up new revenue streams through disruptive innovation,” said Lakshminarasimhan Srinivasan, Global Head, Blockchain Services, TCS. “This recognition from an independent, third party researcher, is a validation of our vision and thought-leadership, investments, and capabilities in this space, specifically our comprehensive services strategy.”
With Business 4.QTM as the anchoring framework, Business Value Delivery Model for value realization, and Machine First Delivery Model (MFDMTM) for the technology roadmap, TCS is in a unique position to advise and support customers in their blockchain journey from ideation to full-scale deployment. This includes advisory services, consulting, methodologies, solutions, platforms, and full stack capabilities.
TCS has launched Quartz Blockchain solutions to help enterprises in the financial services value chain leverage blockchain for agility and to significantly reduce transaction processing costs. Quartz comprises of domain-aware, self-executable smart contracts and enabling solutions such as the Quartz Gateway, the Quartz DevKit, and the Quartz Command Center. Quartz has been used to build a blockchain-based nonexchange trade settlement system in Canada and a cross-border corporate action information exchange across multiple entities in Africa.