TCS Wins the CIO100 Special Award for Business Transformers

Tata Consultancy Services (TCS) a leading global IT services, consulting and business solutions organization, has been honoured with the CIO100 Special Award for Business Transformers, for progressive initiatives that leverage next-gen technology to reimagine its business. Share price of TCS rose 4% today to close at Rs 3043.

The CIO100 Special Awards, IDG India’s annual award program recognizes and honors organizations and their CIOs, who have successfully transformed their businesses by leveraging data center infrastructure, managed services and next-gen technologies for today and the future. TCS won the award, recognizing its digital transformation initiatives this year, including its Secure Borderless Workspaces (SBWS) operating model, its digital talent platform, and AI-led solution for timely financial book closure.

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TCS SBWS framework enabled its swift transition, in the wake of Covid-19, to a resilient and adaptable remote working model, ensuring business continuity for customers. SBWS went beyond infrastructure and cyber security, encompassing key elements such as talent management, employee engagement, collaboration, delivery processes, controls and governance. This has now become the preferred operating model for customers looking to take full advantage of their talent ecosystem, to maximize business opportunities.

This year, TCS introduced a merit based, democratized and transparent talent platform to bring a change in its learning culture by establishing a tighter link between employees and their learning, careers, leadership aspirations, and rewards, while building a digital workforce aligned to the company’s strategic business objectives. The platform has created a consolidated and holistic experience for employees, enabling them to take control of the career development opportunities based on their aspirations. TCS also introduced over 1,400 special courses to keep its employees engaged in learning during the Covid-19 crisis.

TCS transformed financial book closure and board meetings with a unique digital user experience. The solution leverages TCS’ Machine Firs Delivery Model and AI to intelligently automate business process activities, reducing efforts and preparation time and ensuring a timely period-end closing process where business P&L is available on Day 1. Further, it provides a single source of truth across business areas, fostering trust and confidence. The complete, real-time view of operations and digitized business performance metrics enable collaborative and quicker decision-making.

Management of TCS said this has been a difficult year for everyone. However, it has also opened a lot of opportunities.