Vendor Analysis
published on Jan 11, 2022
Report Overview:
This NelsonHall vendor assessment analyzes TCS' offerings and capabilities in Digital Banking Services.
Who is this Report for:
NelsonHall’s ‘Digital Banking Services: Transforming the Financial Services Industry’ Vendor Assessment for TCS is a comprehensive assessment of TCS’s banking industry digital services offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of digital processes and identifying vendor suitability for digital services RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of digital services offerings, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphases and new developments
- Analysis of the company’s strengths, weaknesses and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery locations.
Key Findings & Highlights:
TCS began delivering digital services in 2008 with its Digital Reimagination initiative. The initiative combined digital technologies to pursue business initiatives in a non-traditional way. The initial focus in digital services was on channels and mobility. The next step was focused on developing a better knowledge of customer behaviors and needs. Achieving better customer knowledge required improved data collection and analysis. TCS began providing digital infrastructure implementation and cognitive solutions to clients.
TCS has always invested in R&D and innovation, investing $ 150m per year. It currently has:
- Researchers: 500
- Innovation Labs: 30
In 2006 TCS launched its co-innovation (COIN) network, which coordinates a network of experts from multiple technologies and business worlds to work on joint innovations for TCS’ large customers. In 2014 TCS launched its Digital Software and Solutions Group to help clients implement digital transformation solutions which are industry-tailored. In 2017 TCS launched its “Business 4.0” paradigm for banks. This paradigm views business as in a constant state of change. Successfully managing a changing environment requires the bank or enterprise to be resilient, adaptable, and purpose-driven.