Storyboard18 | TCS, Infosys in Top 3 most valuable IT services brands globally, beat Big Blue

Padma Bhushan N. Chandrasekaran.

Two of the top three most valuable IT services brands across the globe are Indian. Tata Consultancy Services (TCS) and Infosys have beaten IBM to take the number two and three spots, respectively, in the annual report by Brand Finance, the world’s leading brand valuation firm.

Accenture has retained the title of the world’s most valuable and strongest IT services brand for the fourth consecutive year.

In addition to measuring overall brand value, Brand Finance also evaluates the relative strength of brands, based on factors such as marketing investment, customer familiarity, staff satisfaction, and corporate reputation. Alongside revenue forecasts, brand strength is a crucial driver of brand value.

In the Brand Finance Global 500 2022 report, Infosys has been recognized as the fastest-growing IT services brand in the world and among the Top 25 fastest-growing brands across sectors globally.

Year-on-year brand value grew by 52% to $12.8 billion, with Infosys rising 56 places in the Brand Finance Global 500 2022 ranking.

The company said in a statement that growth in brand value and strength is "the outcome of the company’s concerted efforts to build a deeply client-relevant brand that also serves as a trusted engine of change."

Putting it in a pandemic context, David Haigh, chairman and CEO, Brand Finance, said,  "While the COVID-19 pandemic spurred the necessity of a digital transition across the globe, Infosys stepped up to the challenge, resulting in its monumental 80% leap in brand value over the course of the past two years."

The company has continued to invest and nurture market-relevant brands to help clients accelerate their digital transformation journeys. It's also focussed on nurturing a well-differentiated employer brand marked "with significant learning opportunities, growth trajectories and purposeful career paths for employees."

Those of us who have caught a bit of tennis recently would have spotted Infosys court-side. The company continues its partnerships with the ATP, Roland Garros and the Australian Open. It has made strategic investments in several digital and brand partnerships. This includes Infosys’ Signature Marketing Partnership with the Madison Square Garden – also making Infosys the Official Digital Innovation Partner of key MSG properties including the New York Knicks, New York Rangers and the Madison Square Garden Arena.

While Infosys took a monumental leap forward, TCS took yet another steady step closer to the very top as it ranked as the second most valuable IT brand in the world.

This latest feather in TCS's cap comes a day after the Government of India announced N Chandrasekaran, Chairman of Tata Sons, as a Padma Bhushan awardee.

Chandrasekaran also ranks as the top CEO in India and stands at 25th position globally in the Brand Finance Brand Guardianship Index 2022 of world’s top 250 CEOs.

Chandrasekaran is a TCS lifer. He began his career in 1987 at the IT major and went on to become its CEO from 2009 until 2016 when he was appointed as the Chairman of Tata Sons.

The latest Brand Finance report finds that TCS’s brand value has increased by $1.844 billion which is a 12.5% increase in comparison to last year. Its brand value in 2022 stands at $16.8 billion.

The Tata Group company initiated a brand refresh in 2021 and launched a new brand statement ‘Building on Belief' as it repositioned TCS from a B2B to a "B2B2C" player.

TCS is also one of the most recognized Indian brands globally in large part owing to its sponsorships and partnerships in sports like running and more recently racing, including The New York City Marathon, London Marathon and Toronto Marathon and the Jaguar TCS racing team.

In the Global 500

Looking at particular sub-regions within Asia-Pacific, Tata Group is the most valuable brand in South Asia and India’s only entry in the top 100, with a brand value of US$23.9 billion, following a 12% increase from the previous year.

The report states that the performance of Tata Group exceeded expectations in 2021, thanks to a number of new acquisitions and partnerships and as key group companies – from Tata Consultancy Services to Tata Steel – witnessed major growth. The market capitalisation of Tata Group’s 20 listed subsidiaries has exceeded that of 70 listed central public sector undertakings (CPSUs) in India.

More from the 2022 Brand Finance Global 500 report

Apple holds on to the world’s most valuable brand title with record valuation at more than US$355 billion, followed by Amazon and Google.

New entrant TikTok named world’s fastest-growing brand, up 215%, leading global revolution in media consumption.

Tech remains the most valuable industry, while second-ranked retail crosses the US$1 trillion mark following 46% brand value growth during COVID-19 pandemic.

Development of COVID-19 vaccines sees pharma named the fastest-growing industry, while the tourism sector remains below pre-pandemic valuation.

US and China continue to dominate, claiming 2/3 of brand value in ranking, while India sees fastest-growth over the course of pandemic among top nations, up 42%.

WeChat was named the world’s strongest brand for the second consecutive year with the top score of 93.3 out of 100 and elite AAA+ rating.

Microsoft’s Satya Nadella comes out top in Brand Finance Brand Guardianship Index 2022 of world’s top 250 CEOs.

In pharma, new entrant to the ranking AstraZeneca secured the title of the sector’s fastest-growing, with a remarkable 77% rise in brand value to US$5.6 billion, followed by Pfizer as the second fastest-growing at 58%, pushing its brand value to US$6.3 billion.