IT Firm TCS Experiencing Growth In Europe With Firms Adopting New Tech Due To Covid-19

One of the fallouts of the Covid-19 pandemic has been that companies have been pushed to adopt new technologies more rapidly which is being viewed as a boon for the Indian software company Tata Consultancy Services Ltd (TCS) as it has said that it is already experiencing some acceleration in some parts of its business across Europe.

About one third of the annual revenue of TCS, which came in at $22.17 billion in its last fiscal year, was accounted for by its business in Europe which has also been the fastest growing markets for the Indian IT company. 

Continental Europe was the only geographical market that had shown some growth for the TCS in the last full year of the company.

Sapthagiri Chapalapalli, head of TCS Europe, said in an interview that one of the learning form the pandemic has been the ability to collaborate remotely and there has been increased openness and therefore there is an acceleration with respect to certain technologies where there was sluggishness in adoption such as collaboration technologies or cloud.

“When things open up, you also need to be cautious … cyber security for example has become a very important topic because when you want to open up you need to do it in a secure way,” Chapalapalli said.

TCS is the largest exporter of IT from India and currently it operates in 19 European countries and caters to the IT requirements of dozens of big clients such as Deutsche Bank, SAP, ASML, Infineon, and ABB.

With many of the European companies upgrading their computer technologies while also trying to use technology to offset a shortage of people with the required digital skills – which is partly because of an aging population, there has been a growth for IT service providers in this region.

“The businesses are going to fundamentally change in what they do and technology is going to sit right at the heart of that, and therefore the opportunity is huge,” Chapalapalli said.

TCS is now getting ready to operate in newer technology areas such as 5G technologies which could be applied for industries such as manufacturing and automotive, Chapalapalli said.

A new co-innovation and advanced research center was launched by the Indian IT major in the city of Amsterdam for working closely with clients and helping them to adopt to newer technologies. The company is also planning to make this new facility 5G enabled within the next few months.

(Adapted from NDTV.com)

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