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
Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has launched the TCS Servitisation 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 behaviour are driving organisations to switch from one-time product sales to subscription-based, as-a-service business models, a trend known as servitisation. As product-centric business models often involve high procurement, operational costs, and high capex, organisations are adopting new technologies to enable servitisation 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 Servitisation Engine offers a combination of a service-centric approach, data monetisation, and product personalisation 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 Servitisation 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’ Servitisation Engine solution leverages our functional knowledge with Oracle Cloud technologies and our deep expertise in evolving innovative business models, to help organisations reimagine their business strategies and embrace an outcome-based approach,” said Prashant Shirgur, Global Head, Enterprise Application Services, TCS.
“TCS’ Servitisation 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.