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Innovations and transformations across global organisations

Published on October 29, 2020

A research study by TCS has thrown up interesting revelations about how organisations, globally, have deployed technology-enabled innovations to adapt to the ‘new normal’ brought on by Covid-19

Himadri Sikhar Pramanik, Consultant, along with Sujoy Kanti Dutta, Associate Consultant, and Shayoni Mukherjee, IT analyst, at TCS (Tata Consultancy Services), were involved in a research study to gauge how global organisations drove transformations by leveraging innovations, to embrace the new realities induced by the pandemic. In the 273rd EDGE webinar held on October 28, they presented their observations and learning to members across the Tata Group.

The research study analysed public disclosures of over 130 global organisations from three industry clusters, across the last five quarters. The organisations included, among others, banking and insurance entities, telecom players, healthcare majors, retail companies, and engineering firms.

Purpose, adaptability and resilience emerged as the recurring themes in the study, which evidenced that the innovations and transformations spanned the below eight key focus areas.

  1. Future of work
  2. Cyber-security
  3. Eco-system
  4. Value chain
  5. Operating model
  6. Systems and digital finance
  7. Customer experience
  8. Beyond economic value realisation

The study presented compelling insights into the methods of innovation deployed, ranging from multi-company platforms, collaboration with start-ups, and the formation of consortiums. The research team also analysed the technologies employed to affect the innovation in both the B2B and B2C space, along with the benefit-cost scenario and the possibilities of scaling the innovation.

The trio from TCS further elaborated by providing examples of innovations developed and deployed by different companies across each of the focus areas.

For more information about the stimulating engagement, log on to the EDGE Portal, which gives you access to recordings of over 200 such invigorating webinars.