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TCS Lays Foundation for Versuni to Become a Digital-First, Insights-led Company

Posted On : 2023-05-22 11:49:41( TIMEZONE : IST )

TCS Lays Foundation for Versuni to Become a Digital-First, Insights-led Company

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has helped Versuni - formerly Philips Domestic Appliances - transform its business process and technology landscape as a foundation to be an insights-led, digital-first consumer products company backed by one of the largest and now award-winning Rise with SAP programs to date.

When Philips Domestic Appliances was sold in 2021 to Hillhouse, a private equity firm, the standalone company, renamed Versuni, partnered with TCS to lay the foundation for the company to become consumerfocused, agile, and innovation-led. TCS is providing full life cycle services, from strategy and advisory to execution and operations, helping Versuni realize its strategic vision.

These efforts have paved the way for a comprehensive, future-ready foundation, all within a very rapid 18-month timeframe. With SAP as the new digital platform, TCS helped Versuni transform its end-to-end HR processes, finance, sales and distribution, procurement, customer care, supply chain, product development and other critical areas across its global operations.

This program has enabled greater business agility while positioning Versuni as a truly advanced direct to consumer company with the mission of turning houses into homes. The strong partnership between TCS and Versuni will provide a flexible, best-of-suite foundational platform to enable 'perpetual transformation' with shorter time-to-value and ability to respond rapidly to market changes, keeping Versuni on the leading edge of innovation and service.

This transformation program won Versuni the SAP Innovation Award 2023 in the Industry Leader category for driving innovation and delivering customer value transformative solutions. This award recognizes the successful TCS Versuni partnership for the significant impact and scale of this growth and transformation program.

"This truly exemplary top-to-top executive commitment from TCS, Versuni, and SAP challenged industry expectations of what can be accomplished with the right mindset. The TCS end-to-end consulting services and creative adoption of the innovative RISE with SAP model drove our successful efforts. We are truly excited to work with TCS on this one-of-a-kind comprehensive transformation on such an accelerated basis. It took the incredible courage, collaboration, and persistence of a truly strategic partner to make this happen," said Henk S. de Jong, CEO, Versuni.

"TCS has been an invaluable partner in our process and digital transformation journey with SAP as the main enabling technology suite. The leadership advisory services and commitment combined with the team's business domain and technology expertise are helping us achieve our goals as an insights-led digital company. The hard work and dedication demonstrated by each member of the TCS team through each stage of our transformation program has not gone unnoticed, and their efforts are greatly appreciated," said Corine Adams, CIO, Versuni.

"We are proud to be Versuni's primary transformation partner in their journey to become a digital native market-leader. Our decades of CPG industry experience and our consulting-led model, coupled with Versuni leadership's vision and commitment, have set a new standard for changing the game with speed and creativity. This signature transformation program will help Versuni innovate at scale and power growth in the years ahead," said Krishnan Ramanujam, President, Enterprise Growth Group, TCS.

Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 3221.75 as compared to the previous close of Rs. 3199.95. The total number of shares traded during the day was 38600 in over 5784 trades.

The stock hit an intraday high of Rs. 3233.95 and intraday low of 3202.10. The net turnover during the day was Rs. 124287601.00.

Source : Equity Bulls


TataConsultancyServices INE467B01029 TCS Versuni SAP