Savings
NEW YORK, Nov. 9 - Companies continue to derive competitive value from their IT services partners, according to a recent survey of North American-based senior IT executives conducted by Tata Consultancy Services, Ltd. (TCS) (BOMBAY: TCS.bo, NSI: TCS.NS), a global IT services provider. Eighty-three percent of 146 survey respondents noted that IT services partners have helped to sharpen their competitive edge in their respective industries, enabling the companies to maintain growth and market share. In addition to costs savings, the value-added services provided by vendors in order of greatest benefit include faster time to market, increased efficiencies and productivity, technology innovation, and business consulting services.
The TCS survey also revealed that as companies are seeing increased value in their IT services partnerships, investments in outsourcing and IT budget spend continue to increase. Nearly 70 percent of those surveyed indicated that they expect to have an increase in their IT budget in 2006 over 2005. For 2005, 35 percent of respondents indicated that they outsource more than 25 percent of their IT budget, whereas 40 percent of respondents plan to outsource that amount in 2006.
Commenting on the survey results, Surya Kant, President of TCS North American operations said, "The work that TCS is delivering on a global scale is evident in our long-standing partnerships with our customers. This survey offers us a deeper look at the challenges that our customers are facing as they seek to equip their organizations with the right tools and technology to remain market leaders in their respective industries. We will continue to find new opportunities to innovate and deliver the highest quality work on their behalf."
Additional survey results highlight the top IT services which are outsourced. In rank order they are application development, consulting, IT/process management and network management.
The survey was conducted at TCS' annual North America customer conference, TCS SummIT 2005, held in Scottsdale, Arizona, October 16-19, 2005. The event gathered more than 300 attendees spanning over 100 companies throughout North America. The three-day conference offered attendees the opportunity to share ideas, discuss current and upcoming issues, and participate in industry and solution breakout sessions and panel discussions.
About Tata Consultancy Services Ltd
(TCS) Tata Consultancy Services Limited (TCS) is the world leading information technology consulting, services, business process outsourcing and engineering services organization that envisioned and pioneered the adoption of the flexible global business practices that today enable companies to operate more efficiently and produce more value. TCS achieved this by creating and perfecting a unique method of global deployment and delivery of high quality, high value services and products in IT consulting and business process outsourcing. Known as the "Global Delivery Model," this strategic services delivery concept has reshaped the IT services industry.
More than 95% of TCS customers reward the company's reliability, passion, creativity, and unique ability to handle the broadest range of their IT needs by continually extending and deepening their partnerships with TCS. With over 50,000 of the world's best trained IT consultants located in 34 countries, TCS is uniquely positioned to deliver its flexible world class services seamlessly to any location. TCS reported consolidated revenues of $2.24 billion (U.S.) in the fiscal year 2004-2005. The company is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information: http://www.tcs.com
