Tata Consultancy Services (TCS) – India’s largest IT services company – has announced to launch data exchange and marketplace (Dexam) platform on Google cloud on Tuesday, June 6, in a statement.

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“The platform – Dexam – enables enterprises to democratise and monetise data across ecosystems to drive innovation and unlock business value,” the IT giant said in its regulatory filing today.

As enterprises come together to form collaborative ecosystems to create new products and services for their mutual customers, they require mechanisms to share data effectively and securely, TCS said in its release while explaining the need of this platform.

It added that Dexam, which is offered as a Software-as-a-Service (Saas), provides a seamless data exchange for enterprises and their ecosystem partners, while ensuring compliance with data privacy, consent, and security regulations.

Nidhi Srivastava, Global Head, Google Business Unit, TCS said, “TCS Dexam on Google Cloud generates measurable business benefits by enabling better decisions leveraging the power of data, strengthening innovation-led ecosystem partnerships, and building new revenue streams through data democratisation and monetisation.”

TCS’ Google Business Unit offers customers a full catalog of services and solutions, leveraging TCS’ contextual knowledge, industry-focused innovation, and Google Cloud’s capabilities.

TCS 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 over 55 years.

Shares of TCS were under pressure on Tuesday along with other heavyweights, they slipped more than 2 per cent to Rs 3222.65 per share on the BSE.