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Tata Consultancy Services Helps Customers Enhance their PLM Strategies to Reimagine the Value Chain, Innovate Faster and Improve Time to Market
PRESS RELEASE
NEW YORK | MUMBAI, February 20, 2023: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been named a Leader in the IDC MarketScape for Manufacturing Product Lifecycle Management System Integrator & BPO services1.
“Manufacturers across industries are facing challenges in keeping up with the transformation in the product ecosystem as smart technologies and new business models evolve. TCS helps organizations leverage PLM as a foundation to establish a Digital Thread which will provide the foundation needed to adapt to changing business environments, reimagine the value chain, innovate faster and improve the time to market for new smart products,” said Regu Ayyaswamy, Global Head, IoT and Digital Engineering unit, TCS. “This recognition is a reflection of our vision, strategy, PLM expertise and the resultant market success.”
TCS combines digital technologies like IoT, analytics, cloud, and mobile along with lifecycle capabilities to help enterprises unlock new possibilities like transitioning from product-based business models to those centered on services and customer experience, promoting agility in new product introduction, reducing product lifecycle costs and supporting sustainability goals.
TCS is helping leading organizations in the manufacturing industry successfully realize the benefits of PLM by leveraging its expertise across the entire product lifecycle from understanding market requirements, design/development and manufacturing to service and end-of-life. This broad spectrum of coverage enables TCS to provide holistic services that deliver predictable business outcomes for clients’ PLM investments.
Building on this extensive expertise, TCS offers its clients a Digital Thread approach to manage the complexities of smart, connected product development, which are increasingly software centric. It utilizes industry focused accelerators and new age practices that accelerate digital transformation and enable faster ROI from investments.
TCS Digital Thread Consulting services help organization define their approach. It also provides system integration capabilities to deliver the roadmap effectively and efficiently. The TCS Digital Thread solution transforms the product lifecycle management strategy to ensure business agility and establishes a connected data flow across the product value chain, providing contextual insights that enable data driven decisions.
Other offerings include:
- Model Based Systems Engineering (MBSE) services, comprising MBSE maturity assessment, consolidation of MBSE tools landscape, defining the adoption roadmap, and accelerating the deployment of MBSE solutions. TCS helps organizations model the complex relationships between product systems and sub systems in order to manage the systems engineering lifecycle from requirements and design to verification and validation.
- Integrated Application Lifecycle Management framework helps organizations manage the entire embedded software development lifecycle by addressing requirements management, traceability, continuous integration and delivery, integrated validation management, agile project management, real time reporting, compliance management and ecosystem collaboration.
- Digital Twin and Digital Thread Convergence framework for Connected Digital Enterprise helps organizations connect the complete product value chain, enabling data flow across the digital definition and the physical product to bring actionable insights to improve asset performance and drive continuous innovation.
1 IDC MarketScape: Worldwide Manufacturing PLM Systems Integrator and BPO Services 2022 Vendor Assessment, John Snow, November 2022, IDC #US49838022, IDC
About IDC MarketScape: IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
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 613,000 of the world’s best-trained consultants in 55 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
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