TCS Study Finds 88% of C-Suites in Asia Pacific will Increase the Use of Digital Solutions to Drive Sustainability in Next 3 Years
Tata Consultancy Services and University of Auckland Created the World’s First Digital Sustainability Index to Propel Conversations on the Essential Role of Digitalization in Driving Enterprise SustainabilitySINGAPORE | MUMBAI, INDIA - Media OutReach - 20 April 2022 - Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) and the Centre of Digital Enterprise, University of Auckland Business School have published the Digital Sustainability Index, a world-first study of enterprises in the Asia Pacific region that focuses on how digital solutions are contributing to sustainability outcomes across social, environmental, and economic levers.
Based on a survey of 200 C-level executives in Asia Pacific, the report explores Digital Sustainability – the creation, usage, and governance of digital resources to maximize their value for business, the environment and society, how it can enable organizations to better understand corporate motivators, and capacity and capability around digital technologies.
The study highlights three major obstacles that are inhibiting their pursuit of sustainability objectives through digital solutions: limited budget, lack of in-house knowledge and challenges in establishing a traditional ROI.
Other key findings:
- 88% respondents anticipate an increased use of digital resources, systems and platforms to address sustainability outcomes in the next 36 months.
- The vast majority (87%) agree that Digital Sustainability can deliver a competitive advantage and is a central value of their companies.
- Most of the respondents (80%) believe their corporate reputation in the market has improved as a result of digital sustainability initiatives implemented.
"At TCS, we believe digital has the power to positively change the world. The construct of digital sustainability provides a valuable, holistic framework for corporate leaders in their growth and transformation strategies," said Girish Ramachandran, President, TCS Asia Pacific. "The Digital Sustainability Index will help organizations across the Asia Pacific understand how they can create, use, and regulate digital transformation, innovation, and resources to create future-fit, connected businesses that can deliver value for society today and in the future."
"Never has the impact of technology on the community and sustainable innovation been more relevant and more necessary, and together with TCS, we are confident the Digital Sustainability Index can help key decision makers in every company gain a better understanding of how technology can positively impact business outcomes and deliver longer term value for all stakeholders," said Ilan Oshri, Director of the Centre of Digital Enterprise, University of Auckland Business School, New Zealand.
About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 556,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $22.2 billion in the fiscal year ended March 31, 2021, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com.
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