Companies Across World Forced To Change Business Model - TCS Official!

As the world is looming under economic crisis, Tata Consultancy Services (TCS) chief technology officer K. Ananth Krishnan said that tech leaders across companies are looking at the next phase of technology adoption after COVID-19 outbreak.

The chief technology officer's statement was based on the result of 87 percent of the participants that was taken in a poll at a recent event by the renowned company.

"People are already thinking about the future...the new base is resonating with a surprisingly large number of people. Following the onset of the pandemic, companies across the world were forced to change their business models. To stay resilient meant switching to new digital platforms, new response mechanisms and new management principles to handle pandemic-induced disruptions," Krishnan said. 

Further speaking at the company’s annual innovation forum, Krishnan stated that clients of TCS such as airlines and transportation, are already considering fresh technology strategies and investments. These sectors have struggled due to the COVID-19 crisis and lockdown to curb it. 

With this continued lockdown and crisis, TCS then had to rely on technology companies to shut down and reopen business in a limited manner.

“The airline industry for example, while they are severely hit because of the current run up…their medium to long term plans seem to be based on, ‘okay now we’re here but this is what we will do from a business perspective, this is what we’ll do from a brand perspective, this is what we’ll do from an experience perspective’ and so on,” Krishnan added.

Pointing over work from home culture, TCS chief technology officer asserted “There are other industries which are looking at fundamental shifts and saying that, just like work from home is a culture which at least in certain industries has worked quite well, will there be a new opportunity for industries like logistics,” he finally added.