India-headquartered IT services brand HCLTech has been recognised as the fastest-growing among the world's top 10 IT services companies, according to the 2023 Brand Finance Global 500 and IT Services 25 report. The report unveiled at the World Economic Forum 2023 in Davos, Switzerland, revealed that HCLTech's brand value increased by 7% year-on-year, reaching $6.537 billion. The ranking methodology adopted by Brand Finance considered elements such as the business model, customer satisfaction and engagement, employee engagement, CSR, community engagement, and business performance.
This recognition comes a year after HCLTech launched its new brand identity and logo, which embodies its distinct positioning of 'Supercharging Progress'. The company has been focusing on building its reputation as a digital partner of choice for global enterprises. Aside from its rebranding efforts, HCLTech has also entered prominent partnerships. It became the Official Digital Transformation partner of the New York Giants, the New York Jets, and MetLife Stadium, and an Official Cornerstone Partner of MetLife Stadium.
In recent developments, HCLSoftware, a division of HCLTech, has entered a multi-year partnership with Scuderia Ferrari, the Formula One team. The company has also maintained a long-standing relationship with the World Economic Forum, where it has established its presence on the Promenade and participated in the official Annual Meeting conference agenda.
Commenting on the growth in brand valuation, Jill Kouri, Global Chief Marketing Officer at HCLTech, said, "The growth in our brand valuation is an affirmation of our brand transformation efforts and how it mirrors our business performance delivering industry-leading growth supercharged by our positioning, our strong propositions and our passionate people."
David Haigh, CEO of Brand Finance, remarked, "While IT services brands are facing weakening demands, it is exciting to see HCLTech grow by 7% in their sector. The brand's new purpose and employee value proposition, along with a new logo and visual identity is helping change their perception and build awareness as a digital partner of choice for global enterprises through its differentiated services and products, as well as become an employer of choice for top talent."
During the past year, HCLTech also introduced its new employee value proposition (EVP), 'Find Your Spark', based on key tenets such as opportunity, respect, and trusted employment. This initiative emphasises the company's commitment to helping both current and prospective employees maximise their career potential and ambitions.
Zulfia Nafees, Global Head of Brand at HCLTech, noted, "This is an exciting recognition of how our purpose, to bring together the best of technology and our people to supercharge progress, has really driven our brand growth. 'Supercharging Progress' captures the essence of what we do today and our aspiration of what we want to do more of, at scale and at speed, for our clients, our people, communities and the planet."