Today’s CIOs can rest a little easier compared to their counterparts a few years ago. The extent of digitalization in most large businesses has helped them continue at least a part of their operations. However, it has not been easy reacting to the crisis to ensure business continuity while thinking about a reset for the post-COVID world. The ‘new’ normal is something businesses have had to adapt to after every crisis, whether it is the dotcom bust or the financial crisis of 2008. However, the disruption this time is of epic proportions and will impact all aspects of business—demand, supply chain, workforce, regulations, among others. The challenge now is not just about being resilient today but having the elasticity to adapt to the uncertainties of the future.
Most CIOs are well aware of the need to digitalize operations. In a TCS 2020 CIO survey of 1,000 CIOs in North America and Europe, 80% voted AI to have the maximum impact on digital transformation, with 60% voting for cloud. But digitalization alone is not enough. It is the foundation, and organizations need to use the digital core they have established to build elasticity into their operating model. This will help them build adaptability and resilience into the fabric of their operating model ensuring contraction or expansion in real time to maximize the recovery cycle.
Given the scale of disruption, CIOs need to embed ‘elasticity’ in all three dimensions of their operating model -- workforce, operations and technology.
Elastic Workforce involves fungible skills, remote and secure workplaces
Elastic Operations is enabled through a Machine FirstTM approach riding on artificial intelligence, automation, business aligned agile teams and cloud-based scalability
- Elastic Technology requires a flexible architecture, analytics and multi-cloud capabilities
TCS has supported over 1,000 of its customers in responding to the immediate crisis posed by COVID-19. Despite stringent lockdowns in various parts of the world, we ensured continuity of business and IT operations for our customers across the globe, by enabling TCS' Secure Borderless WorkspacesTM (SBWS™) model. This scale of experience with our customers across geographies and industries combined with our own global operations has crystallized our view on resilience and adaptability.
Enhancing the elasticity of the IT operating model will allow organizations to:
Provide greater resiliency during times of crisis, with the ability to accelerate cost take out
Be better prepared to maximize the growth and transformation opportunities as they present themselves
Future-proof their IT strategy
To uncover the latent potential of your organization’s elasticity and to increase resilience and adaptability, please reach out to Vikramjit Grewal.