TCS likely to overtake Accenture in BFSI segment

IT business process outsourcing (BPO) firm Tata Consultancy Services (TCS) is reportedly on its way to overtake global outsourcing giant Accenture in terms of revenue in the banking, financial services & insurance (BFSI) segment. According to an India Times report, TCS had reported USD3.48bn in revenue from BFSI in the past two quarters while Accenture had USD3.50bn. The gap has narrowed to just USD20m in six months from USD610m in 2013. Cognizant has grown the fastest in the past few years, but is still USD1.6bn lower than those of Accenture and TCS. TCS operates a number of call centers in the Philippines while Accenture is among the major BPO firms in the country today.