TCS aims to become the largest IT company in the world; he says large-scale operations are not a problem

Bombay: India’s largest software exporter TCS Friday said it aims to become the world’s largest IT services company, saying it doesn’t “fear” that its large-scale operations are hampering the company’s ambitions. Speaking to the Times Network India Economic Conclave, Rajesh GopinathanCEO and CEO of the company with $ 25 billion in revenues and 6 lakh employees, said there is no reason why the company does not aspire to double, triple or quadruple revenues from current levels.

“Absolutely, in many ways we already are,” Gopinathan said, without providing a timeline, as he answered the question of whether he sees TCS becoming the largest IT company in the world.

He said the company, which is the largest provider of IT services to the banking, financial services, and insurance industries, ranks second in employee counts and has also had cases where it topped the capitalization rankings. of the global market.

“Today we are 25 billion dollars in size. There are many companies that are 50, 100 billion dollars in size. There is no reason why we shouldn’t aspire to be double, triple, quadruple the size that we are. we have today. The question is how can we do it, what should we do to get it? But the opportunity is limitless. On both the supply and demand side we are sitting in a weak spot, “he said.

“Our aspiration should in no way be tied to where we are today, we should aspire to set new standards and we are far from where the current standards themselves are. (There is) a huge margin to move forward,” he said. added .

The TCS chief’s comments are significant because it means the Tata Group will replace Accenture, which had more than $ 50 billion in revenue last year. A few weeks ago, TCS said it aims to have revenues hit $ 50 billion by 2030.

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Gopinathan said that in 2001 the company had set a goal of entering the world top-10 on multiple parameters and adopted a specific way of working towards the goal.

Admitting that there is skepticism that a company is too big whenever a scale boundary is breached, Gopinathan pointed out that companies in the supply chain or in the logistics and consumer packaged goods segment have been successful. to continue improving its performance.

Regarding having a large base of over 6 lakh employees, Gopinathan said: “We are approaching very carefully. I have no fear that we are at or near the limit of what can be achieved. The focus for us is to structure ourselves. to be able to manage the scale and use the scale to our advantage, which we are doing quite well. ”

TCS, which is seeing dropout levels of around 17%, amid the high demand for talent that has seen some companies surpass the dropout level of 20%, has been able to gain staff loyalty because it recognizes that talent it is his greatest strength and he is true to his word on all fronts.

“There are no legacy people, only legacy technologies. By continuing to train people, providing them with the right of first refusal for all the new opportunities for our existing people, we have been able to change and sustainably manage the multiple transitions that the industry sees and the pace of change that the industry sees. This is the magic sauce (for loyalty), “he said.

He said that periods of volatility like the current one due to the Russian invasion of Ukraine are natural phenomena for a company like theirs, but the key for the company is to be close to the customer, help them in their time of need and invest in what will be required in the future in order to form long relationships.

TCS stock closed 0.50 percent lower at Rs 3,611.85 per piece on BSE compared to a 1.23 percent correction on the benchmark.

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