TCS introduces Servitization Engine to Help Customers Embrace Subscription-First Business Models

30 Jun 2022 , 12:43 PM

Tata Consultancy Services has launched the TCS Servitization Engine on Oracle Cloud, which will assist customers in developing subscription-first business models and providing outcome-based solutions with intelligent service capabilities.

The engine provides an industry package that includes bundled combinations of products, services, support, self-service, and a knowledge base that businesses can use to add value to their core product offerings, as well as robust front-end customer-facing solutions.

Consumer behaviour changes are driving organizations to transition from one-time product sales to subscription-based, as-a-service business models, a trend known as servitization.

Because product-centric business models frequently involve high procurement, operational, and CAPEX costs, 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 through flexible product and service consumption.

To enable pay-as-you-go services, the TCS Servitization Engine combines a service-centric approach, data monetization, and product personalization. The preconfigured model office framework, built on TCS Crystallus for Oracle Cloud, leverages emerging technologies powered by TCS Research & Innovation, such as predictive and prescriptive analytic insights and digitally interpretable knowledge, to improve performance.

The services can be combined with TCS’ Conversational Services, which include contextual AI components.

The TCS Servitization Engine solution assists in the launch of products across pricing models, the integration of front- and back-office operations, and the transmission of insights to the front office.

It enables business agility by accelerating time to market, growing and measuring recurring revenue, and increasing customer lifetime value through cross-selling, upselling, and improving customer retention when used in conjunction with Oracle Cloud offerings.

At around 12.48 PM, TCS was trading at Rs3,267 per piece, down by Rs24.05 or 0.73% from its previous closing of Rs3,291.05 on the BSE. The scrip touched day’s high and low of Rs3,310.95 and Rs3,254 respectively.