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Future of EPC Organizations: Going Vocal for Local

 

Anjali Butley

Lead Solution Architect, Supply Chain Management, TCS

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Going vocal for local can help EPC organizations maintain business continuity

Businesses today are faced with overwhelming challenges as they continue to navigate the impacts of the COVID-19 pandemic.

  • The engineering procurement construction industry, in particular, is facing numerous setbacks, such as disruptions in business continuity and workforce employment due to a limited supply of raw materials, labor migration, etc.
  • According to an analysis by SpendEdge, the EPC and EPCM services market will register an incremental spend of about $364 billion, growing at a CAGR of 4.19% during the forecast period (2020-2024).
  • Even before the COVID-19 pandemic, the engineering procurement construction industry was already reeling with issues related to regulation and policy changes (RERA), cost pressures, labor shortages, shrinking profit margins, etc.
  • An end-to-end digital transformation is a topmost agenda item for many EPC organizations. 

With Vocal for Local, EPC organizations can increase productivity by 30%-35% and enhance employee output. 

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