It is with a great sense of pride that I write to you after being appointed as the Chairman of this exceptional Company. In the past seven years, when I had the privilege of leading this organization in an executive capacity, it has been an exhilarating journey.
The commitment and passion of a diverse, global employee base helped your Company exhibit strong leadership during this period, against the backdrop of immense volatility in our key markets and the world economy. Amidst the rise of new Digital technologies, your Company remained focused on staying relevant to customers, employees, and the society at large, while delivering significant returns to shareholders.
My thirty years with TCS have given me a ringside seat to the evolution and growth of your Company. I have witnessed your Company''''s ability to emerge from every technology cycle stronger than ever and be in a position to capture a greater share of market opportunities.
Your Company is in a growth industry where the demand for technology continues to expand. In earlier decades, IT played a key role in supporting business. The Internet era then saw business strategy being defined by technology strategy. As a result, technology was embedded into business. Today we are entering a new world where technology is now defining what the business can or should do.
The global business is transitioning to a new age where technology is playing a central role in the growth of every industry by delivering a superior customer experience anytime, anywhere. The power of a business now depends on its ability to manage the transition from process maturity to data maturity. The Internet of Things (IoT) is about capturing data from machines and sensors; cloud is helping make the data available at scale as and when needed; automation and artificial intelligence are helping sift through enormous quantities of data; and analytics is helping derive insights and make useful predictions from that data. Businesses have to change and understand the impact and influence of these technologies. Those who can do it faster and smarter will be the leaders in the new economic world.
Your Company is once again at the forefront of this transformation. TCS has made significant investments in driving innovation in Digital, as well as by building new capabilities and skills in technologies like cloud, artificial intelligence, automation, and analytics. It continues to transform its engagement models to fit the customer''''s needs. To succeed in the Digital age, customers need the right technology partners with the strategic commitment and sustained investments necessary to stay relevant to their business. With its focus on long-term relationships, your Company is well placed to help customers leverage these technologies by being able to deploy these on a global scale in an easy-to-consume, experiential, and all-pervasive environment.
In the Tata group, our ethos is shaped by the core belief that our founder articulated almost hundred and fifty years ago that the community is not just another stakeholder of business, but the very purpose of its existence. That ethos guides all our actions and initiatives. Your Company has focused on helping communities in three core areas: education and skills, health and wellness, and environmental sustainability. This concentration of effort on a few areas has allowed us to make a bigger impact in those chosen areas. I am delighted to see each of those programs scale up significantly to start making a difference to the targeted communities.
As our business transitions into a new and exciting phase of growth and innovation, the future of your Company could not be in better hands than under a dynamic new executive leadership team led by Rajesh Gopinathan as the Chief Executive Officer and Managing Director, ably supported by N G Subramanian as the Chief Operating Officer and V Ramakrishnan as the Chief Financial Officer, together with a strong team of senior business leaders. The new team will continue to drive an organizational culture that embraces change, believes in growing talent, and invests ahead of time, anticipating the future needs of our customers.
With the new leadership team and huge opportunities ahead, I am very excited about the future and sincerely believe that TCS'''' best days are yet to come.
On behalf of the entire Board of Directors of Tata Consultancy Services, I would like to thank you - our valued stakeholders - for the continuing confidence you have placed in the organization.