Accenture takes the number one spot for the seventh straight year in the Everest 2023 PEAK Matrix Service Provider of the Year Awards for Information Technology (IT) services.

The ranking of Tata Consultancy Services (TCS), Capgemini, and Wipro has risen to take the number 2, 3, and 4 spots, respectively.

Since Everest Group, a global IT research firm, launched the rankings in 2016, TCS has been in the top five, and this year it climbed to the second place. Capgemini and Wipro each rose three positions in the rankings over last year.

HCLTech remains among the top five providers, although it slipped a notch from the No. 4 slot it held last year.

Everest Group — the global research firm focused on strategic IT, business services, engineering services, and sourcing — announced the awards for large IT service providers with over $2 billion in annual revenue. The awards, now in their eighth year, recognize IT service providers who have demonstrated superior capabilities and service strategies.

There have been major ups and downs in rankings this year with Capgemini moving to the third spot from sixth while Wipro moved up to fourth rank from seventh.

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Infosys’s rankings declined to seventh from second while HCL dropped to fifth from fourth and Cognizant to sixth from fifth.

“The top 20 IT service providers list identifies the best of the best — IT service providers with strong, broad-based capabilities and successful services strategies that align well with the evolving enterprise IT demand,” said Chirajeet Sengupta, partner at Everest Group.

Overall, eight service providers improved their rankings, five slipped and three maintained their position in the top 20. LTIMindtree (No. 10), EY (No. 18), Orange Business Services (No. 19), and EPAM (No. 20) are newcomers to the leaderboard this year. UST Global and EXL exited the list in 2023.

Other honors

Star Performers of the Year, recognized for achieving the greatest positive relative year-on-year movement on the PEAK Matrix assessment are LTIMindtree, Tata Consultancy Services (TCS), Capgemini, and HCLTech.

The Top 3 ITS Challengers in the 2023 awards are Mphasis, Virtusa, and Zensar. Zensar is additionally recognized as the Top ITS Challenger Star Performer for achieving the greatest cumulative upward mobility within the Top ITS Challengers list.

“Although smaller in size, these challengers are credible alternatives to the leading players in the industry in certain niches,” said Abhishek Singh, partner at Everest Group. “Challengers have successful service strategies that focus on specific solution segments, geographies, or industries that align well with enterprise needs.”

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