Cost cutting measures around the world help Top Indian IT firms gain ground

India’s top IT services companies are gaining ground by grabbing large and mega deals in specific sectors like banking, financial services and insurance (BFSI), reported Financial Express (FE).

IT firms across the globe have taken steps to optimise costs in the current uncertain economic environment, said the report.

Last week, Tata Consultancy Services (TCS), country’s largest IT services firm, announced an over £600-million (about $723-million) contract with Phoenix Group, UK’s largest long-term savings and retirements provider, to digitally transform the latter’s ReAssure business using the TCS BaNCS-based platform. The deal is an expansion of TCS’s long-standing partnership with the Phoenix