November, 23, 2011: IT majors are on the process of publicizing their industry rankings in order to add glitter to their brand value. Even though it adds to the brand value there is a flip side to it too.
In an annual listing published by the Forbes which ranked 50 best publicly traded companies in the Asia Pacific region, HCL technologies was ranked at the top among the IT services company. The ranking list was named as “Asia’s Fab 50”.
In the Asia Pacific region HCL was among the two Information Technology Companies which has made it to the list. This has added glitter to the brand value of the company, which is of Indian origin.
In another case the IT major Infosys was ranked at 15 by Forbes among the most innovative companies. Even though Infosys could not make it to the top ten they published it in their web site.
This has become common among the IT service providers as they come up with some sort of industrial ranking or rating everyday. In order to cope up with the challenge of new age marketing and branding, companies are now going for global ranking to enhance their brand value. The rankings may include best employer, best green company etc.
According to industry analysts, the major IT players, be it Infosys, Wipro or HCL use these rankings or ratings to differentiate themselves from others. Even though the ranking or rating is not a formal requirement, it helps companies in getting noticed and building reputation among the buyers and prospective buyers. According to Mahindra Satyam top official, ranking will also improve the reputation in the industry and will increase the pride of the employees. Mahindra Satyam has been involved with various industry rankings for quite sometime. They were ranked 6th by Dataquest CMR Best Employers 2011 survey in a list of 20 best employers.
Indian IT companies do not have a large marketing budget as in the case of global giants such as IBM, Accenture etc. So such industrial rankings help companies in building their brand value.
Krishnan Chatterjee, VP Marketing, HCL technologies says that Indian IT companies are changing the conventional outsourcing model in the global IT industry.
Now outsourcers around the world are looking for credibility as a measure to choose from a number of service providers. Rankings or ratings done by independent agencies help companies to increase their credibility among outsourcers.
There is a flip side for such rankings as well. If a company is ranked as a best in any category, and the same company endorses it by publicizing it, it cannot complain if it ranks low in the ranking done next year.