TCS eyes 150 deals in 12-18 months
The Times of India — August 7, 2007

TCS Financial Solutions, a strategic business unit of Tata Consultancy Services (TCS), has decided to pursue clients and opportunities in regions like Asia Pacific, Middle East & Africa to reduce dependence on US clients.

"Between 100-150 deals are likely to be in the pipeline in the next 12-18 months from these markets alone. Of this, 20 per cent is likely to be in the large category ranging between $30-200 million, while 80 per cent would be in the $5-10 million range," according to president of the financial solutions business, NG Subramaniam. He said deals from the US and Europe region are also expected though they would be smaller in number though higher in terms of value.

S Ramadorai, CEO of TCS, who was in Bangalore to inaugurate a new facility which will house close to 2,500 engineers of the financial solutions business, said, "We already take care of more than 50 per cent of all banking transactions in India, Mongolia and Taiwan. We have a significant presence in Greater China and the biggest bank in the land, Bank of China, with close to 360 million accounts uses our product line."

"Leveraging on this expertise, we will present ourselves across multiple geographies. The banking and finance segment contributes over 40 per cent to overall TCS revenues and we see this vertical as a major growth engine for the company," Ramadorai added.

The company also unveiled a new brand TCS BaNCS for the financial solutions' product portfolio. The $170-million financial solutions' unit has 2,720 professionals and plans to add another 500 by March-end.