LONDON, December 11, 2019: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, has released a new research report ‘Resilience Rules: How UK Firms are Thriving in the Age of Business 4.0™’, according to which more than three quarters (78%) of UK companies surveyed are planning to digitally transform their business model within the next three years.
This latest UK report follows TCS’ global survey of how large companies are adopting the four behaviours that characterize Business 4.0: driving mass personalization, creating exponential value, leveraging ecosystems and embracing risk, published in a report titled Winning in a Business 4.0 World. It found that in the UK, more than one in 10 (12%) organizations surveyed have adopted the full range of behaviours, making them Business 4.0 leaders.
Amit Kapur, Country Head, TCS UK & Ireland, said,“In today’s complex business ecosystem, digital transformation doesn’t happen overnight. It’s very promising to see that UK firms are not only taking steps in the right direction towards a Business 4.0 mindset, but even taking the lead versus their global peers in many areas. Through the innovative use of technology, more and more business leaders will be able to build resilience against shifting market dynamics and achieve their growth and transformation objectives.”
Business 4.0 Characteristics: Key Findings
Driving Mass Personalization
Creating Exponential Value
The survey revealed that UK businesses are among the most collaborative in the world, actively augmenting their own products and services with complementary offerings from ecosystem partners to meet the evolving expectations of their customers.
TCS commissioned a survey of business leaders from more than 1,200 large firms (revenues from US$500 million to $5 billion) across 11 industries and 18 countries. Of these, 114 were from the United Kingdom. Additionally, 25 qualitative interviews were conducted with business leaders across industries. Three-fourths of the respondents were either directly involved in or had oversight of their firm’s digital transformation plans, with almost half in the C-suite.
About Tata Consultancy Services Ltd (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 the last fifty 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 450,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019 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 Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
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