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TCS plans overhaul with aim to double revenue to $50 bn before 2030

Tata Consultancy Services plans to overhaul its organization with specialised businesses targeted to assist startups as nicely as massive world firms as Asia’s biggest software outsourcing company gears up to double its revenues to $50 billion before 2030, in accordance to human beings familiar.

This enterprise will create four indoors groups — a enterprise transformation group, incubation group, company growth and any different aimed at new business company models, in accordance to human beings acquainted who didn’t prefer to be diagnosed as the small print are private.

TCS is expected to present this proposed new structure at its board meeting this week, said one of the people. 

“TCS has now charted its roadmap and long-term strategy to reach the next USD 25 billion revenue. It aims to get to USD 50 billion by the close of the decade,” the source told PTI.

The company is planning to create an integrated organisational structure based on ‘curated customer journeys’.

“TCS is mulling to create two new business groups that will augment the current structure of industry vertical units and markets, resulting in a new integrated organisational structure,” the source informed.

The rejig is aimed at aligning TCS, India’s second-largest company by market value, with the changing needs of its clients who are increasingly looking to digitize in the post-Covid-19 world and the boom in startups. India’s IT services sector has been on a roll, buoyed by the pandemic-induced rush among enterprises to transform into work-from-anywhere, digital businesses, boosting growth and making it a $227 billion industry by end of March.

A spokesperson for the company said TCS won’t comment on internal business plans or strategies TCS, which employs over half a million around the world, the bulk of them in India, reported $25 billion in revenues for the year ended Dec. 31. Riding the sector boom, TCS and its rivals Infosys Ltd. and HCL Technologies have been signing on new customers, expanding contracts, and hiring software programmers by the thousands every quarter.
The outsourcing giant, part of the Tata Group, is also planning to open a dozen innovation centers globally including the U.S. and Europe, according to one of the people familiar.

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