TCS signs multi-year contract with major US giants. To tap into Metaverse
Major IT services company Tata Consultancy Services (TCS) said on Monday that it has signed a "multi-year materials contract" with a major US company, expanding its long-term partnership to accelerate its IT transformation process.
This change will serve as a platform for its future growth leading to business expansion, creation of new business models, better customer experience and other strategic benefits, TCS also said in a regulatory filing.
TCS has signed a multi-year physical contract with a large US enterprise to accelerate its cloud transformation journey and transform its technology landscape into a modern hybrid cloud stack for greater agility, flexibility, and improved operational flexibility.
The cloud-enabled operating model will feature advanced cognitive automation capabilities that will improve the availability of business applications and enhance the user experience.
Major IT services company Tata Consultancy Services (TCS) has jumped on the metaverse bandwagon by creating experiences across various verticals, including online commerce and workplace experiences. Calling the set of products and services in its metaverse 'thematics', TCS has introduced nine horizontals under three main themes: time and space (TAS), culture (CUL), and technology (TEC). On its website, the company says this is the "future of work," further adding, "Is the office taking over your dining room table, or is the metaverse a question that just won't be resolved."
On the topics, the company says that "the suddenness and severity of the pandemic brought all three topics to the top of everyone's pyramid of priorities."
The products and services are intended to enhance the remote workplace experience. Since TCS has implemented the 25:25 vision (by 2025, only 25% of TCS employees will work outside of TCS facilities, associates will spend only 25% of their time in their office), this suite of applications based on metaverse makes sense.The company has started work on a "virtual bank" for retail transactions and the non-fungible token (NFT) market using its own blockchain system.
The company's Metaverse journey will be assisted by its subsidiary ePresence, bridging the gap between the physical and digital worlds. TCS IP technology is supported by the platform, which includes cloud, blockchain, AI and IoT capabilities. It uses XR (Extended Reality) key elements that enable the design and operation of various Avapresence components.
To expand its business in the metaverse, TCS is targeting the retail/consumer packaged goods, education, and real estate sectors. To enhance the company's collective capabilities in the metaverse, it provides internal training to its employees for varying levels of experience.