TCS

TCS expects high double-digit revenue growth from Canada as demand for digitization grows

Published on : January 24, 2022


TCS Canada currently serves more than 100 large Canadian coast-to-coast companies and has additional offices in Montreal, Calgary and Vancouver.

  • TCS Canada, with Rs turnover. 6,268 million in fiscal year 21, three times the total IT services spent in Canada in recent years. TCS, India's largest industrial conglomerate, has over 344,000 of the world's most skilled consultants in 46 countries.

TCS is targeting high double-digit revenue growth for Canada in the coming years as the North American country's economy grows across all sectors and digitalization becomes a critical aspect for business, a senior says responsible.

TCS Canada, a wholly-owned subsidiary of India's largest IT exporter dedicated to serving the market, achieved revenue of Rs 6,268 crore in FY21. "It has tripled the overall spending rate on IT services in Canada in recent years," its country head, Soumen Roy, said.

Roy said if Canadian IT spending increased by 45% per year, the business could grow at a triple rate, and the business had even surpassed $1 billion three fiscal years ago.

Recently, TCS Canada has received numerous employee awards, including accomplishments that have made TCS Canada one of the 50 Most Affiliated Workplaces and Top Employers named TCS one of Canada's Best Places to Work.

Revenue growth in Canada, where it currently employs more than 7,000 people, was hampered by pandemic-related outages in FY21 but is expected to be much better in FY22. TCS offers IT, BPS, infrastructure, engineering and assurance services with consulting and integrated services.

This is made possible by its unique Global Network Delivery Model™, recognized as the benchmark for excellence in software development. Specifying that the growth rate will be seen both in income and in the integration of employees because of the linearity between the two.

Roy noted that the company's operations have so far been more focused in the Toronto area but is trying to expand its reach by looking at other business hubs, adding that it has 500 employees in Montreal.

"We have grown rapidly by partnering with some of Canada's largest and most dynamic companies on their digital transformation initiatives to help them leverage new technologies to leverage their innovation. Our new downtown Montreal is part of the investment we are making to support this growth," he said.

Roy said Canada has made significant investments in the education ecosystem that makes talent available, adding that the priority is to attract talent locally. If it is not easily accessible for projects, it will be arranged externally.

Conclusion:  

To strengthen its vision, TCS announced last week a five-year agreement to be the main promoter and technology partner of the Toronto Waterfront Marathon, in line with other related long-distance running activities around the world.

Topics: Canada

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