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Tata Consultancy Services’ Oracle Cloud-Based Solution Will Help Switch to As-a-Service Models which Drive Recurring Revenues, Maximize Lifetime Value of Customers and Enhance Customer Retention
MUMBAI, June 30, 2022: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has launched the TCS Servitization Engine on Oracle Cloud to help customers create subscription-first business models and provide outcome-based solutions with intelligent service capabilities. The engine offers an industry package with bundled combinations of products, services, support, self-service, and knowledge base that companies can leverage to add value to their core product offerings, along with robust front-end customer-facing solutions.
Changes in consumer behavior are driving organizations to switch from one-time product sales to subscription-based, as-a-service business models, a trend known as servitization. As product-centric business models often involve high procurement, operational costs, and high capex, organizations are adopting new technologies to enable servitization models, which can offer better margins, increased customer lifetime value for providers, and lower total cost of ownership to customers, with flexible consumption of products and services.
The TCS Servitization Engine offers a combination of a service-centric approach, data monetization, and product personalization to enable pay-as-you-go services. Built on TCS Crystallus™ for Oracle Cloud, the preconfigured model office framework leverages emerging technologies powered by TCS Research & Innovation, including predictive and prescriptive analytic insights and digitally interpretable knowledge for performance enhancement. The services can be coupled with TCS’ Conversational Services products, which are enriched by contextual AI components.
With a focus on building recurring customer relationships, the TCS Servitization Engine solution helps by launching products across pricing models, integrating front- and back-office operations, and driving insights to the front office. Working with Oracle Cloud offerings, it enables business agility by accelerating time to market, growing and measuring the recurring revenue, and increasing the lifetime value of a customer by cross-selling, upselling, and improving customer retention.
“TCS’ Servitization Engine solution leverages our functional knowledge with Oracle Cloud technologies and our deep expertise in evolving innovative business models, to help organizations reimagine their business strategies and embrace an outcome-based approach,” said Prashant Shirgur, Global Head, Enterprise Application Services, TCS.
“TCS’ Servitization offering allows Oracle’s customers to better configure new subscription or industry-specific services,” said Rob Tarkoff, Executive Vice President and General Manager, Oracle Advertising and Customer Experience. “This helps add streams of repeatable revenue income by tying together process flows and achieving a cleaner line-of-sight into revenue and service operations.”
TCS’ Oracle services include design thinking, advisory, innovation consulting, implementation, and other digital support services. With over three decades of a relationship built on a powerful framework for joint innovation and delivery, TCS and Oracle have been helping their clients apply innovation so they can anticipate and prepare for the next wave of technology disruption.
TCS is a member of Oracle PartnerNetwork and has had more than 600 successful cloud engagements across industries. TCS takes a consulting-led approach to solve issues of board relevance and drive customers’ perpetual transformation journey through contextual, innovative last-mile solutions built in collaboration with Oracle and innovation partners.
About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 592,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com
About Oracle PartnerNetwork
Oracle PartnerNetwork (OPN) is Oracle’s partner program designed to enable partners to accelerate the transition to cloud and drive superior customer business outcomes. The OPN program allows partners to engage with Oracle through track(s) aligned to how they go to market: Cloud Build for partners that provide products or services built on or integrated with Oracle Cloud; Cloud Sell for partners that resell Oracle Cloud technology; Cloud Service for partners that implement, deploy and manage Oracle Cloud Services; and License & Hardware for partners that build, service or sell Oracle software licenses or hardware products. Customers can expedite their business objectives with OPN partners who have achieved Expertise in a product family or cloud service. To learn more visit: http://www.oracle.com/partnernetwork
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