Accenture most valued IT brand, TCS & Infosys value up 2%: Report | Business Standard News

Clipped from: https://www.business-standard.com/article/companies/accenture-most-valued-it-brand-tcs-infosys-value-up-2-report-123011800658_1.html

Accenture retains top slot for the fifth year straight; Cognizant and Wipro fall in rankings

Indian IT services firms have consolidated their positions in Brand Finance report’s rankings for 2023. Accenture retained its position as the most valuable IT services brand globally. TCS and Infosys remained the second and third most valued brands, while increasing their brand value by 2 per cent.

Accenture retained the top slot for the fifth year straight, with a brand valued at $39.8 billion. It is the strongest IT services brand in the ranking with a Brand Strength Index (BSI) score of 87.8 out of 100 and a corresponding AAA brand rating.

TCS’s brand value was up 2 per cent at $17.2 billion. TCS has delivered many tailored transformation programmes as clients migrated to various hybrid working methods, said the Brand Finance report.

Infosys’s brand value rose 2 per cent to $13 billion as it consolidated its position amongst the top three most valuable IT services brands globally. A rating of AAA helped Infosys to enter the top 150 most valuable brands in the world.

“Sustained client relevance, best-in-class delivery excellence and a deep commitment to purpose are differentiators for brand Infosys, consolidating its position among the industry’s preferred partners for navigating digital transformation,” said Salil Parekh, Chief Executive Officer of Infosys.

“Strategic investments in employee care and development, along with our deep commitment to environmental, social and governance priorities, have helped Infosys sustain its market leading position as a business and as a valuable brand,” he said.

HCLTech’s brand value was up 7 per cent, as it retained its position as the eighth most valued brand. HCLTech’s brand valuation grew the highest among the four major India-based technology firms placed in the Top 10 IT Services category.

Tech Mahindra was another brand that climbed the ranking order from 15th position to 11th—a bigger jump in ranking than any other brand. Its brand value has increased by approximately 66 per cent since the beginning of the pandemic. On a year on year basis Tech Mahindra’s brand value was up 15 per cent to $3.5 billion.

The two brands that saw a drastic fall were Cognizant and Wipro. Nasdaq-listed Cognizant fell from fifth position to seventh with a brand value of $8.63 billion. Wipro saw its ranking go down to nine from last year’s seven.

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