TCS a Leader in Enterprise Blockchain Services: Everest Group

Tata Consultancy Services’ Vast Array of Intellectual Property, Depth of Blockchain Expertise across Verticals, and Capabilities across Platforms, Highlighted as Key Strengths

NEW YORK | MUMBAI, January 19, 2022: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been recognized as a Leader in the Everest Group PEAK Matrix® for Enterprise Blockchain Services[1].

The report highlights that TCS continuously develops a vast array of intellectual property and tools for enterprises to adopt blockchain. It says that TCS’ verticalized approach coupled with its flagship products such as Quartz™, results in the development of accelerators for many use cases. It goes on to say that TCS demonstrates thought maturity through the propagation of innovation use cases and emerging concepts in its market-facing thought assets.

According to the report, clients commend TCS for its depth of technical expertise and capabilities across a wide variety of platforms as well as its ability to tightly integrate blockchain applications with other parts of the software landscape. Cited as a strength is its continued investment in expanding its talent base through regular trainings, certifications, opening a new CoE, and growing internal blockchain expertise across its vertical teams such as in hi-tech, manufacturing, and insurance sectors.

“Blockchain along with adjacent next-gen technologies is fundamentally changing the way enterprises collaborate and create value across extended ecosystems. By designing innovative solutions that are interoperable and can co-exist with current application estates, we have provided a seamless pathway for our customers to harness the power of these new technologies. Quartz blockchain solutions have been deployed across multiple industry use cases, ranging from digitization of the complete lifecycle of bank guarantees, tokenization and provenance in supply chains, to running a renewable energy certificate platform integrated with IoT for solar energy tracking,” said R Vivekanand, Global Head, Quartz, TCS. “This leadership position is a reflection of our strong vision, investments in innovation and developing intellectual property, strong partner network, expertise across a variety of blockchain technologies and the resultant market success.”

TCS offers a unique value proposition by bringing together its blockchain smart solutions suite, comprehensive portfolio of tools and accelerators, and services, through a consulting-led, integrated framework. This framework empowers customers with a 360-degree view of their blockchain adoption journey. It gives customers the opportunity to leverage TCS’ cross-industry domain knowledge and experience across multiple blockchain platforms, protocols, and partner ecosystems to help accelerate enterprise business transformation.

Quartz, The Smart Ledgers, is a startup incubated by TCS and provides foundational technology, tools and business components for creating distributed ledger solutions across varied industries. The suite comprises Smart Solutions, a set of ‘designed for blockchain’ business offerings for different industries; the Quartz DevKit, a smart contract development kit to enable programming of high-quality code on multiple blockchain platforms, with preconfigured ‘ledgers’ for accelerated deployment; the Quartz Gateway for the integration of existing solutions with blockchain ecosystems; and the Quartz Command Center that can administer and monitor entire ecosystems.

Together, these solutions help organizations set up truly connected ecosystems that run on blockchain technology, delivering real-time, efficient transaction processing based on a single source of truth on the ledger.

“The frenzy of blockchain Proof of Concept launches and the debate on moving away from PoC to production has radically subsided in the last 18 months, as the industry made great progress on pragmatic blockchain use cases focused on immediate value generation potential,” said Ronak Doshi, Partner, Everest Group. “The market shifted towards using a combination of emerging technologies, including distributed ledger technology, to build inter-enterprise and, in some cases, also inter-industry networks. TCS continues to aid enterprise adoption of blockchain through its verticalized IP and tools. TCS’ focus on expanding technical expertise, experience in integrating blockchain into existing enterprise applications, and its overall thought leadership maturity has led it to secure a Leader position on Everest Group’s Enterprise Blockchain Services PEAK Matrix® 2022.”

About Quartz – The Smart Ledgers™

Quartz, The Smart Ledgers, are designed on a unique TCS concept which comprise predefined, off-the-shelf ledger structures, data models, functions and APIs for business processes across industries. They serve as “building blocks” on top of which solutions can be developed and deployed seamlessly, thus enabling customers to implement decentralized solutions faster, in an agile manner, and at scale. Quartz caters to organizations across Industry segments including Financial Services, Banking, Supply Chain, Energy & Utilities and eGovernance.

To know more about Quartz, please visit: https://www.tcs.com/quartz-blockchain-solutions

About Tata Consultancy Services (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 556,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22.2 billion in the fiscal year ended March 31, 2021 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com.

[1] Enterprise Blockchain Services PEAK Matrix® Assessment 2022, Ronak Doshi, Suseel Menon, Everest Group, December 22, 2021