According to a survey by TBR's Professional Services Quarterly (PSBQ) 3Q08 Benchmark, India-based firms Cognizant and Wipro came in with the highest organic growth rates of 35.9% and 33.3%, respectively.
Both Cognizant and Wipro are gaining footing and winning large-scale deals and Fortune 500 clients. Additionally, both are expanding aggressively into Europe and other growing markets and pushing portfolios of high-value consulting and engineering services. In general, the offshore capabilities and portfolios of the Indian players, as well as their geographic expansion, helped them retain the lead, according to PSBQ.
"Unlike other sectors of the economy that have seen major restructurings, layoffs and significant losses, most IT services companies were able to successfully adjust their business models in the recent quarter. Demand for systems integration and consulting remains healthy in emerging economies," said Eugene Zakharov, director of PSBQ.