Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has won the award for the Best Patents Portfolio in the Large Enterprises (Information and Communications Technology and Services) category at the Confederation of Indian Industry (CII) Industrial Intellectual Property (IP) Awards 2021. TCS won this award for the fifth consecutive year.
The CII Industrial IP Awards recognize organizations that foster a culture of IP and its commercialization, bring the achievements of enterprises into the public domain, help set up linkages with academic and research institutions in India and abroad, and inform the government about IP-driven enterprises to engage with in policy making exercises. The jury for these awards was chaired by eminent scientist Dr Raghunath Anand Mashelkar, and included leading academicians, consultants, and experts with established credentials in the field of IPR.
TCS has built a culture of innovation and has put in place robust processes and supporting structures to nurture, manage, and scale up the development of intellectual property. It systematically identifies promising new ideas from across the organization and invests in developing those further.
The Research and Innovation function has been recreated within each business unit, enabling domain specific innovation harnessing the power of digital technologies. This has resulted in an industry-leading portfolio of intellectual property consisting of patents, products and platforms that provide competitive differentiation to TCS, and strategic value to its customers. It has filed 6,169 patent applications and has been granted 2,100 patents, as of September 30, 2021.
TCS' intellectual property portfolio includes a comprehensive set of products and platforms that address enterprises' business and technology needs across industries. These include the TCS BaNCS™ suite for financial institutions, Algo Retail™ suite consisting of TCS Optumera™ and TCS Omnistore™, TCS ADD platform for the life sciences industry, TCS HOBS™ and the TwinX™ platforms for communications and media companies, ignio™ cognitive automation suite, Jile™ enterprise Agile planning and delivery tool, and TCS MasterCraft™ suite of intelligent automation products. This is supplemented by a large number of accelerators, frameworks and toolsets in areas like IoT, analytics and insights, cloud migration, cloud management, and enterprise application transformation.
TCS' robust intellectual capital has helped expand its share of its customers' growth and transformation spends on initiatives such as business model innovation, customer experience reimagination, and tapping new revenue streams.
"We are greatly honored to receive the Best Patents Portfolio award from CII. This award is a recognition of our innovation model to build differentiated solutions to help our customers achieve their business goals. TCS' industry-leading IP portfolio creation is an important part of our innovation strategy, driving growth through technology-powered innovation to maximize outcomes for our customers," said Dr Santosh Mohanty, Global Head, Components Engineering Group, TCS.
This latest award from CII follows another accolade TCS received for its IP program. Last month, TCS won the 2021 ASSOCHAM IP Excellence Award in the category IP In-House Team of the Year.
Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 3534.35 as compared to the previous close of Rs. 3639.65. The total number of shares traded during the day was 51174 in over 5990 trades.
The stock hit an intraday high of Rs. 3656.85 and intraday low of 3521.50. The net turnover during the day was Rs. 183118814.00.