Driven by strong growth in
cloud infrastructure and security solutions,
cloud computing as a style of computing in which scalable and elastic
IT-enabled capabilities are delivered has become a hot industry term.
And as
India's largest IT services company Tata Consultancy Services (TCS) bets on the as-a-service business model to offset disruption brought about by cloud computing, the Mumbai-headquartered company said that it derived over $500 million in revenue from its platforms. This was revealed in an Economic Times report.
At keynote address at
Morgan Stanley's Annual India Summit on Tuesday, TCS CEO N Chandrasekaran said, "We have seized the opportunity and over the last few years, built and launched several cloud platforms that are now slowly finding market acceptance. Eight platforms together generated over $500 million in annual revenue."
Earlier, TCS had stated that revenue from software-as-a-service based platforms exceeded $125 million, the ET report added. This excluded revenue from its largest platform Diligenta, which focuses on the UK insurance space, as it has struggled over the last year.
According to Chandrasekaran, TCS’s other platforms like its financial inclusions platform in India, it's assessment engine that is used in competitive exams and platforms around human resources, finance and accounting, accounts payable and procurement and analytics were also gaining traction in the marketplace.
(Image: Wikipediabio.net)
