Intelligent Urban Exchange (IUX) for Workplace Resilience Guides Business Recovery and Continuity in the face of Major Disruption Like the COVID-19 Pandemic
Normal, new normal, next normal – you name it; the status quo is now irrelevant, and businesses need to adapt. The US unemployment rate, while improving, is still near levels not seen since the Great Depression in the 1930s–and with the GDP declining, it is imperative for organizations to get back on their feet while complying with new directives and best practices for workplace safety. Global fiscal deficits relative to GDPs are forecast to double or even triple for certain countries requiring widespread borrowing by these economies to stimulate growth. Central banks are developing industry changing fiscal strategies such as historic interest rate cuts, innovative economic stimulus packages, payment deferral schemes, reserve requirement changes, outlay moratoriums, capital buffers, etc. This evolving environment reflects the “normal” business conditions of today.
Recently Jeffrey Abbott, Head of Marketing, TCS Digital Software & Solutions took time to address several key questions about today’s version of “normal” and provide insights into the impact it is having on business and municipal environments.
QUESTION: In addition to the seismic community health / healthcare consequences of COVID-19 are there other areas in which the pandemic has uncovered prior unknown systemic exposures?
JEFFREY: Businesses – the building blocks of the economy – have been put under unprecedented stress during the COVID-19 crises with new and unforeseen challenges. These in-turn have negatively affected cities by inhibiting the flow of humans throughout urban areas and brought many businesses to a standstill. Cities around the globe that have already undertaken digital transformation projects to deliver exceptional citizen collaboration and experience are better positioned to manage and optimize multiple city departments (such as health, security, sanitation etc.) in a unified manner to effectively tackle this pandemic. But cities’ business ecosystems were not ready, and administrators are realizing the urgent need for an intelligent command center that incorporates all relevant data to help the business community restore operations safely and effectively.
QUESTION: What is are ‘intelligent command centers’ and how can they help cities manage crises such as the COVID-19 pandemic?
JEFFREY: An example of an intelligent command center solution is TCS’ Intelligent Urban Exchange (IUX) analytics software solution. It includes a City Command Center (CCC) component that helps bridge city-wide standalone departmental systems, and processes disparate Internet of Things (IoT) data from multiple domains across the city to optimize deployment of resources and enhance decision making processes during critical events (planned or unplanned), such as floods, fires, power outages, etc. The insights and experience that TCS Digital Software & Solutions has gained have enabled it to develop IUX for Workplace Resilience to inform and optimize enterprise level responses during crises to minimize the impact to operations and safety of their employees and customers. IUX for Workplace Resilience incorporates diverse data (from IoT, mobile devices, badge scans, videos, images, log files, public data, etc.), to deliver insights about employee safety, compliance, operations, customer engagement, and even financial implications – thereby helping enterprise response teams proactively get, and stay, ahead of crises effects.
QUESTION: So how does IUX for Workplace Resilience differ from the City Command Center solution?
JEFFREY: The goal is to enable uninterrupted business continuity during crises, as well as accelerated recovery when business is impacted. IUX for Workplace Resilience offers businesses an intelligent command center which provides situational visibility. The major difference being, in addition to visibility provided by the command center, the solution helps with risk assessment, analytics and decisioning capability. Thus, it guides the line-of-business (LoB) Heads, CXOs, administrators, and legal teams to establish superior operational resilience and effectively engage with customers while ensuring workforce safety and compliance with best practices and regulations. It also helps with the financial side of the business by providing enterprises with a better overview of their cash position, a greater understanding of the impact on their future cash flows and the critical ability to tactically adjust their pricing and payment terms. Built on a low-code platform, it can help any enterprise in any industry because users can extend the platform to build and operationalize custom analytics use cases when unique scenarios and challenges emerge.
QUESTION: Thank you for your time, do you have any closing comments?
JEFFREY: TCS, with close to half a million employees across the globe, has proven itself many times over in helping enterprises address pressing challenges. Customers can be confident that our newly released IUX for Workplace Resilience chosen by TCS for business continuity, will help them turn unexpected events into opportunities for growth and resilience. Enterprises looking to prepare for disruption and embrace changes with confidence should look no further.
Webcast: CIO Fireside Chat- Accelerating COVID-19 Business Recovery for Banks with IoT Analytics Register Now
Join Suman Mahalanabis, Head of Product Management TCS Digital Software & Solutions and
Sankha Ghosh, CIO of Money Mart Financial Services for a panel discussion where they will share their insights about how banks and financial institutions are addressing key priorities with technology approaches that reestablish safe working environments while ensuring business continuity and resilience.
Key topics include:
- Understanding the impacts of the COVID lock-down on business and operations
- Reopening physical locations and the role of data & analytics
- Leveraging analytics for insights into new customer behaviors and expectations
- Preparing for future crises with predictive/prescriptive analytics