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 hadmore 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.
Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 3265.25 as compared to the previous close of Rs. 3291.05. The total number of shares traded during the day was 41813 in over 6177 trades.
The stock hit an intraday high of Rs. 3310.95 and intraday low of 3254.00. The net turnover during the day was Rs. 137112923.00.