TCS is helping customers prepare for business 4.0
Vinay Singhvi, Business Unit Head of BFSI for the UK and Ireland, describes TCS’ commitment to helping clients navigate digital transformation.
Tata Consultancy Services (TCS) is a company that almost requires no introduction: one of the largest and most innovative companies in India with a global reach and almost 450,000 employees, it is a true leader in IT and consulting services. “TCS is one of the world's largest and most recognised brands in its field. Our focus has always been to help customers drive their growth and transformation journeys,” states Vinay Singhvi, Business Unit Head of BFSI (banking, financial services and insurance) for the UK and Ireland. A part of the company for over 20 years, he started as a Systems Analyst in 1999 and gradually ascended to Global Client Director in 2013, before finally securing his current position in 2018.
When asked to consider how TCS has managed to attain such high stature in the UK business community, Singhvi highlights its corporate ethos as essential. “The way we work is primarily about keeping customers at the centre and planning everything around them to ensure we are aligned to both their strategy and their business goals,” he explains. Fundamentally, TCS champions an approach that is cutting-edge without sacrificing the human touch, something that Singhvi considers will only become more important as technology keeps evolving. “It’s not about machines replacing humans; it’s about the augmentation that needs to happen and how hyperautomation and AI (artificial intelligence) will enrich the entire human experience.”
One partner reaping the benefits of this approach is insurance company Vitality, with which TCS has built a relationship stretching back over 10 years. Recognising early on that Vitality’s incentive-based health and wellness insurance platform held revolutionary potential for the industry, TCS began a partnership with the brand, which now, according to Singhvi, “has got one of the best brand recalls within the UK market.” Furthermore, their close integration goes beyond a simple supplier-client relationship, as Singhvi describes, “We do not see ourselves as separate from Vitality. It’s about us working together to understand and implement their strategy and help them in achieving their purpose. Our teams that work as part of Vitality see themselves as more Vitality than TCS, that's how deeply integrated they are.”
A strong believer in preparing for the next generation of digitally-inflected business (Business 4.0), TCS is prioritising a three pillar framework for its customers to help them lead in the new normal based on ‘purpose-centricity’, ‘building resilience’ and ‘being adaptable.’” This approach will be invaluable in its continuing relationship with Vitality: “The insurance industry is run by the underlying data and what the data tells you,” Singhvi states. There’s also a crucial security aspect: cybersecurity and the networks and systems that need to be combined.” Although the future is daunting, TCS has the industry-proven reputation needed to guide its clients through the digital revolution. In a final display of its forward-thinking, Singhvi also details the company’s ‘25 by 25’ vision. “25 by 25 illustrates that, in our view, by the year 2025, all our systems and ways of working will be aligned, so that only 25% of TCS workforce will work out of TCS facilities at any time. In this regard, we are very excited that TCS is taking a leadership position on new ways of working, not just in the UK but globally.”
SLK Software: Optimising performance in the digital economy
Established in 2000 in Bengaluru, India, SLK Software recognises that fast-paced digital transformation is creating an unprecedentedly fertile period of opportunity for global businesses.
As such, with a firm belief in the power of simplification and automation to yield new and exciting experiences, the company has been challenging the status quo for over 20 years through an approach that is:
- Relationship oriented
- Strategically focused on a desired outcome
- Reliant on automation tech
Believing in purposeful automation
SLK’s specialisation in automation tech is full spectrum: artificial intelligence (AI) and machine learning (ML), Computer Vision, Natural Language Processing (NLP), Robotic Process Automation (RPA), and more, are all part of its core competencies.
Citing 90% productivity improvements, 30% business growth through better customer experiences, and up to 20x faster go-to-market capabilities, the reasons for its focus are clear.
The company currently serves the banking, financial services, insurance, retirement services, M&A, manufacturing, and supply chain sectors. Solutions offered include:
- Intelligent Business Transformation
- Agile IT Automation
Accelerating workflow processes
The latter is a tool specifically calibrated to enable business users an easy method for capturing document processes. This can occur across any application, with these individual tasks then seamlessly combined for both improved compliance and governance.
Carol Castelloni, VP of Transformation at CNA Insurance, highlighted this as providing critical support in helping the company meet its business objectives:
“SLK’s Avo Discover tool accelerates how we can document workflow processes, measure impacts on enhancements, and identifies future automation opportunities.” Liberated from having to focus on these process-driven aspects of business, CNA Insurance has been able to refocus its attention on creative problem-solving instead.
Ultimately, this is the most important benefit that SLK brings: it optimises the back end so that clients can channel their energy towards what matters the most, customers.
Read more about SLK Software and CNA Insurance in the June 2021 edition of FinTech Magazine.
Pictured: SLK Software team (source)