Introduction
Everyone wants the best job. Be it a fresher or an experienced candidate. There is always a different definition of best. For some, the best is a 9-5 job while some prefer flexible hours and the profile that they want.
However, one of the significant factors to decide is the type of company you are getting into. There are advertising agencies, startups, product-based, service-based companies, and more.
You make a choice either on what you like or with your past experience.
In this article, we will explore one of the important types of companies. We will be looking at what are service-based companies, some of the top service-based companies in India, and how to get into one.
- Introduction
- What is a Service-based company?
- Difference between Product-based and Service-based Companies
- Why Join Service-based Companies?
- Service-based companies in India
- 1. Tata Consultancy Service
- 2. Infosys
- 3. HCL Technologies
- 4. Wipro Limited
- 5. Redington India Ltd.
- 5. Tech Mahindra Limited
- 6. Bharti Airtel
- 7. Deloitte Touche Tohmatsu Limited
- 8. Larsen and Toubro Limited
- 9. Mphasis Limited
- Conclusion
- Frequently Asked Questions (FAQs)
- Q.1: What is a service-based company?
- Q.2: How do I get into service-based companies?
- Q.3: Are service-based companies good?
- Q.4: Which service-based company is best?
- Q.5: Is TCS a service-based company?
- Q.6: Is Deloitte a service-based company?
- Resources
What is a Service-based company?
A service-based company is the one that provides customers, clients the ultimate solution to their requirements or a service to another company. The service offered by the company is intangible and can be provided in the form of skills, amenities, and expertise.
For example, a great IT Software solution for your company is how a service-based company provides its value to the client.
- Service Based Companies Motto:
- Every type of company has a certain set of mottos and values. Here are 4 mottos for a service-based company.
- Customer/Client is the King:
- This might sound obvious as all companies cater to some audience or clientele and would prefer them as superior. However, the difference a service-based company makes is that their sole service relies on the customer’s requirements.
- A service-based company would not create or render service before the need arises. They will cater to a customer according to their preferences and choices.
- Sell Quality Before Price:
- A service-based company could not put an exact price on their expertise, and skills. A service-based company will have to showcase the strength of its work. From great innovative ideas to accuracy; from follow-up to customer services; and from readiness to quick deliveries. It’s the company that has to make customers value the price.
- A startup service-based company cannot put a price on their strategy skills like an Apple product could put on their first product. But this is what makes a service-based company dedicated to its workspace.
- Be Unique
- A service-based company has steep competition in the market. In addition to this, starting a service-based company is easy due to its low startup cost.
- However, to maintain quality and stature in the market, the company does not just have to be better than the rest but rather unique in what values it provides.
- Challenge is the key to success
- A service-based company will never back out when in an acute challenge situation. The company is built in a way to challenge oneself every day with new requirements, new clients, new choices, and tight scheduled deadlines.
- To succeed in a market with such high competition and services available, challenging the potential of the company for its clients is what makes a service-based company successful.
Difference between Product-based and Service-based Companies
When starting your career as a developer or a programmer, you might have come across the terms product-based companies and service-based companies. These two are probably some of the significant industries in the IT sector. Some big tech giants have their names attached to either one of them.
Now you might wonder what it is to choose one of them as ultimately you have to code.
However, it is to be noted some differences need to be taken into consideration before diving into why you need to work in a service-based company.
| Product Based Company | Service-Based Company |
|---|---|
| This type of company provides its value through a tangible product that they sell. For example, Microsoft, Oracle sell their products like windows, adobe, etc. | This type of company offers its customer exclusive products that are specific for the clients in the form of skills, expertise, and amenities. Like, strategic solutions, Research and software development services, BPO, etc. |
| The product is created prior to customer needs and demands. | The service is offered after the clients approach the company. |
| The hiring process is elongated and complex. | Hiring Process is shorter and comparatively easy. |
| Experience working within a single domain or industry. | Experience in working with different kinds of clientele and industries. |
| Flexible hours of working. | No flexible hours of working |
| Examples: Google, Microsoft, etc. | Examples: Wipro, TCS, etc. |
View the full Difference Between Product and Service Based Company
Why Join Service-based Companies?
There’s always a perception about service-based companies; that there are fewer job opportunities, less pay, more working hours.
Let us break all those myths and read about why you should start your career or make a switch to a service-based company.
1. Creativity is at par
Different clients mean different requirements. Every client a service-based company caters to has a different brand identity, with different goals, objectives, and ideas. For this exact reason, if you work at a service-based company, creativity will be your constant companion. You will have to figure out daily different approaches for your clientele.
This will help you in enhancing your creative output under unique situations.
2. The future scope is Ascending
The course of the IT Industry has revolutionized so much in the last two or three years. With emerging technologies like Artificial Intelligence, Cloud, and Automation, every other industry wants to incorporate technology to make their product/services up-to-date and better.
This in turn creates an uproar amongst the service-based companies to adapt to modernization and go digital. In addition to this, the pandemic was a perfect boost to work with technology.
All of this has become a catalyst for the service sector’s booming growth and according to the International Data Corporation’s (IDC) Worldwide Semi-annual Services Tracker, Service-based companies in India have a bright scope in the future market, especially in the IT Sector.
3. Dynamic Learning Curve
If you are all about learning, experimenting, and growing, then a service-based company is the right call for you. The growth graph for you here will reach greater heights as you work on various dimensions for different clientele. You get exposure to work with other teams and communicate different perspectives.
As there will be different clients you will learn to create different strategies as well. This will help you in boosting your skill sets and productivity.
4. Work with the best
Whether it is product-based or service-based, ultimately what every employer wants is to work with the best company. And India’s leading companies are service-based companies.
To name a few, Wipro, Tata Consultancy Services, HCL Technologies, and so many more are the top service-based companies in India.
Working with them would mean, good pay scale, amazing employee benefits and perks, exposure to scalable opportunities, and leading projects. All of this could have a positive influence on your resume and career roadmap by working with such an experienced and innovative team.
5. Presence of a Market and community
Even if you are starting fresh with your career you might have to choose between many career roles, but for a company, you can stop worrying about a service-based one. This is because the market for service-oriented companies is already established.
It is not something new that needs to be tried and tested. Therefore, there are options of a better community for peer discussions and evaluation; a trusted industry to work in; better job opportunities and demand.
After getting a jist into why you should work in service-based companies in India, let us look at some of the best service-based companies in India.
Service-based companies in India
Below of the list of 10 services-based companies that you should consider in India.
1. Tata Consultancy Service
Tata Consultancy Service (TCS) is an integrated company that provides consultancy, engineering, and business solutions to India’s top business firms. This company started back in 1968 is now ranked as the largest multinational IT Indian company with a market value of $169.2 billion.
With over 140 offices spread across 40 plus countries, Tata Consultancy Service is not only the largest IT service-based company in India but, counted amongst one of the most distinct technology-centric companies worldwide.
2. Infosys
Every software engineer or an employee from the same background would know of Infosys.
Infosys with its market capitalization valued at $ 47.7 billion and 228k employees, is recognized to be one of the best service-based companies in India.
It is the first company from India that got listed on NASDAQ (National Association of Securities Dealers Automated Quotations), known for its exceptional IT and consulting services.
3. HCL Technologies
HCL Technology is a company that provides multi-service Solutions to clients of Manufacturing, Financial Services, and many more different industries with an integrated digital approach inclusive of modern-day technologies like cloud, artificial intelligence, data science, etc.
The company with a digital global transformative approach justifies its motto of “Reimagining Tomorrow’s Enterprise Today”.
HCL is counted in the leading service-based companies list because of its standing out Mode 1-2-3 growth strategy.
4. Wipro Limited
Wipro Limited, founded in 1945, is presently the fourth-largest Indian multinational company that provides IT solutions, consulting, and business process services to clients of some significant industries worldwide.
Wipro has established its presence globally not, just with the exceptional services they offer but, known for its sustainable practices and maintaining perfect corporate citizenship ethics. With more than 190,000 employees, Wipro Limited is ranked as the 9th largest employer in India.
5. Redington India Ltd.
India’s fifth-largest multinational IT company, Redington India Ltd started out with a single product catering to a limited market.
Nevertheless, the company, with its effective strategies and modern technologies like Internet of Things(IoT), Robotics, Artificial Intelligence, Big Data and Analytics, Automation, transformed into a billion-dollar service company catering to 220 international brands from the IT sector and providing services to over 30 markets.
5. Tech Mahindra Limited
Tech Mahindra Limited established in 2012 is a subsidiary of Mahindra Group is amongst the top service providers in the Indian Market.
The company has established its brand by servicing innovative and efficient IT and business outsourcing services with its customer-centric approach, latest technology, reusable assets, and innovative platforms.
The company to the present date values at more than US dollar 5 billion with the human power of more than 125k employees.
6. Bharti Airtel
Bharti Aitel with a customer base of over 336 million people in India, is one of the biggest telecommunication mobile service providers.
Airtel with its DTH, 2G,3G,4G wireless services, home broadband connection, fixed line services, international and national long-distance services, and so much more marked its presence across 16 countries in Asia and Africa.
7. Deloitte Touche Tohmatsu Limited
DTTL or Deloitte is a global multinational service-based company that offers financial services, consulting, risk advisory, audit, and assurance services worldwide.
With over 300,000 employees working in 150 different countries, Deloitte has an approximate revenue turnover of 4,760 crores US Dollars.
8. Larsen and Toubro Limited
The conglomerate, Larsen, and Toubro is a business with an interest in Financial, engineering, manufacturing, construction, and technological services. With its world-class services and technology that spread across over 30 countries, Larsen and Turbo Limited is marked as one of the transformative service providers globally.
9. Mphasis Limited
Mphasis Limited founded in the year 2000 is an IT service-based company in India that provides an integrated portfolio of infrastructure technology, architecture, and design services with cutting-edge technology and a customer-centric approach.
Mphasis caters to the leading companies in Banking, Financial, and Insurance Industries. Mphasis believes in bringing not just technology but a transformation into the business to upscale them.
Conclusion
Service-based companies in the present years have been one of the key contributors to the growth of the economy. Not only this but with the robust demand for services in industries like Banking, Finance, Insurance, and IT, every service-based company has changed its pace to a fast-growing company with cutting-edge technologies and approaches.
It could therefore be concluded that service-based companies in India have a large pool of skilled people within their market and will continue to expand to their greater potential.
Read About IT Companies In India
Frequently Asked Questions (FAQs)
Q.1: What is a service-based company?
Ans: A service-based company is one that provides its value or services to customers in the form of intangible products i.e. skills, amenities, and expertise.
Q.2: How do I get into service-based companies?
- Find your expertise
- Communication Skills
- Management Skills
- Creativity skills
Q.3: Are service-based companies good?
Ans: Service-based companies are making their mark more significant in the present years. Yes, these companies are good choices for those starting in their career.
Q.4: Which service-based company is best?
Ans: Tata Consultancy Services, Infosys, Wipro Limited, Bharti Airtel, HDFC, and many more.
Q.5: Is TCS a service-based company?
Ans: Yes, TCS is a service-based company.
Q.6: Is Deloitte a service-based company?
Ans: Yes, Deloitte is an excellent service-based company that provides financial services to its clientele.
