Last year, TCS had introduced its 'Business 4.0' strategy -- a thought leadership framework to help customers leverage digital technologies to address their growth and transformation agendas.
The country’s largest IT services firm Tata Consultancy Services (TCS) expects significant growth in the coming years across markets like Latin America, India and South Africa that have historically lagged in technology spending.
The over USD 20-billion revenue company is also confident of expanding its play in large markets like continental Europe, Japan, Australia and New Zealand as it launches new services, products and platforms.
“…our share even in our largest markets is still in low single digits. We are only scratching the surface yet in large markets like continental Europe, Japan and Australia New Zealand. Market penetration will be a growth driver in the coming years,” TCS Global Head (Business and Technology Services) Krishnan Ramanujam said in the company’s annual report for 2018-19.
He added that emerging markets like Latin America, India and South Africa — which have historically lagged in technology spending — will see enterprises leapfrog into the ‘Business 4.0’ era and start spending.
Last year, TCS had introduced its ‘Business 4.0′ strategy — a thought leadership framework to help customers leverage digital technologies to address their growth and transformation agendas.
About 53 per cent of TCS’ revenue came from Americas, 29.7 per cent from Europe and 5.7 per cent from India. Other geographies accounted for the remaining 11.36 per cent.
“We keep expanding our addressable market by continually launching new services, products and platforms, catering to the needs of a broadening set of stakeholders… All this gives us greater confidence and visibility in our ability to sustain our market leading revenue growth,” he noted.
The Mumbai-based company’s consolidated net profit stood at Rs 31,562 crore, while its revenue was at Rs 1.46 lakh crore in FY2018-19.