Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been selected by the Georgia Department of Labor (GDOL) to replace its 1980s-era legacy platform with a proven, agile, secure, and scalable cloud-based unemployment insurance system that streamlines the claims process and ensures that eligible individuals receive prompt financial assistance and support when they need it most.
During the pandemic, Georgia experienced an unprecedented surge in unemployment claims - the third highest in the nation - placing tremendous strain on the state's aging 40-year-old unemployment system and underscoring the urgent need for change.
GDOL selected TCS as its partner to create an agile, modern system that eliminates technology debt and enhances accessibility. The choice was guided by TCS' demonstrated expertise in unemployment insurance modernization and track record of success in helping other states transform their unemployment insurance systems, some of those projects serving as the blueprint for Georgia's own modernization plans.
The human-centric design of the new web-based platform will make it easier for Georgians to apply for unemployment insurance benefits, securely upload documents, check the status of their claims, and receive important updates. Digitized processes with automated workflows will enable faster processing of claims with reduced errors. Advanced security features embedded in the new platform will help prevent fraud, save taxpayer dollars, and ensure that benefits reach those in genuine need.
"Modernizing Georgia's 80s-era unemployment system represents the dynamic fusion between efficiency and innovation," said Bruce Thompson, Commissioner, Georgia Department of Labor. "A modern and responsive unemployment system minimizes claims processing times, enhances the customer experience, prevents fraud, and positions GDOL to become the most transparent and responsive agency in state government."
"In state after state, TCS has demonstrated how to leverage cutting-edge technology to improve accessibility, resilience, scalability, and transparency, significantly strengthening the critical safety net that unemployment insurance represents," said Robert Kane, Chief Commercial Officer, U.S. Public Services, TCS. "We are pleased to partner with the Georgia Department of Labor in their digital transformation journey to create a new seamless and secure unemployment system that will meet the evolving needs of claimants and employers, streamline claims processing, reduce errors, prevent fraud, and improve the overall user experience."
Over the past two decades, TCS has built a reputation as a leader in helping transform legacy unemployment insurance systems, partnering with Connecticut, Florida, Kansas, Maine, Mississippi, Missouri, New York, and Wyoming in their transformation journeys. During the pandemic, TCS helped several states successfully manage exponential increases in unemployment claims, including the integration of the Federal Government's Pandemic Unemployment Assistance.
TCS is one of the largest recruiters in the U.S. in the IT services industry. It employs more than 2,300 people in the state of Georgia. TCS clients include nearly half the FORTUNE® 500 companies - in industries ranging from banking and financial services to retail, life sciences and health care, manufacturing, and travel.
Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 3536.65 as compared to the previous close of Rs. 3515.25. The total number of shares traded during the day was 282695 in over 8597 trades.
The stock hit an intraday high of Rs. 3546.00 and intraday low of 3477.00. The net turnover during the day was Rs. 989863233.00.