Tata Consultancy Services aims to overhaul its organizational structure specialized groups, assisting startups and large firms as Asia’s largest software outsourcing provider prepares to double its revenues to USD 50 Bn before 2030.
The Mumbai-based company will build four teams: an incubation group, a business transformation, enterprise growth, and another group aimed to focus on new business models. These would be internal teams. The new structure will be revealed at its board meeting this week.
The rearrangements aim to align India’s second-largest company by market value, TCS, with the growing demand and changing needs of its clients who are progressively looking forward to digitizing their office culture post-COVID-19 pandemic.
India’s IT services sector flourished tremendously due to the pandemic-induced adoption of work-from-home culture, boosting the market growth to USD 227 Bn by the end of March.
The rejig structure is based on where its customers are in their business journey, people informed. It factors in, for instance, that a sub-USD 5 Bn startup would comprise a varied set of technology and business demands than a globally established large firm.
TCS, which employs more than half a million worldwide, maximum of them in India, revealed USD 25 Bn in revenues for the year-end 2021. Invading the sector, TCS and its competitors, Infosys and HCL Technologies have taken initiatives to expand their reach and hire software programmers by the thousands every quarter.
However, TCS will need to manage its increasing staff costs that resulted in the outsourcer missing analyst estimates on profit last quarter. The company offers a suite of services from the cloud to data analytics and infrastructure management to the globe’s largest companies, including General Motors Co., Citigroup Inc., Woolworths Group Ltd., and Petronas Gas Bhd.
TCS is a global information technology services and consulting company based in Mumbai, India. As of February 2021, TCS is the largest IT service in the world by market capitalization.