tcs retail insights, issue 5, feb 2015
TRANSCRIPT
1Copyright © 2015 Tata Consultancy Services Limited
ForumTCS Retail Insights
February 2015, Issue 5
2ForumTCS Retail Insights, Feb 2015, Issue 5
Don’t believe in Innovation Cliché. Approach to Innovation needs re-thinking.
‘Reimagine Innovation’
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Contents
1. Accelerating Innovation: Four Levers for CIO Success
2. Innovation Imperatives for Retail Enterprises: Towards a Future Ready IT
Framework
3. Robotics-As-A-Service: Transforming the Future of Retail
4. From ‘Inspiring’ to ‘Leading’ Innovation: DARE to Innovate
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ForumTCS Retail Insights, Feb 2015, Issue 5
4ForumTCS Retail Insights, Feb 2015, Issue 5
Accelerating Innovation: Four Levers for CIO Success
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Accelerating Innovation
Four Levers for CIO Success
KEY INSIGHTS:
• Retail CIOs must promote IT-led innovation and participate in business innovation.
• Build a mechanism to constantly monitor the technology landscape and consider
both near and long-term innovation opportunities.
• Make innovation a company-wide aspiration and encourage all employees to be
creatively dissatisfied with the status quo.
• Enterprises should extend innovation beyond the organization and adopt open
innovation.
ForumTCS Retail Insights, Feb 2015, Issue 5
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Innovation Imperatives for Retail Enterprises: Towards a Future Ready IT Framework
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Innovation Imperatives for Retail Enterprises
Towards a Future Ready IT Framework
KEY INSIGHTS:
• Business landscape is witnessing blurring of boundaries between various industries
resulting in emergence of new industries with disruptive value propositions.
• To be successful with disruptive innovation initiatives, retailers need to foster an
innovation ecosystem, prototype and pilot new ideas, and implement ideas rapidly
and manage change across the enterprise.
• Innovation is both business and technology imperative. A flexible and constantly
evolving architecture to support the IT frameworks serves as the foundation for
innovation-led business transformations.
ForumTCS Retail Insights, Feb2015, Issue 5
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Robotics-As-A-Service: Transforming the Future of Retail
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Robotics-As-A-Service
Transforming the Future of Retail
KEY INSIGHTS:
• Smart robots are triggering retail innovation that can have a positive impact across
the retail value chain.
• The nexus of Robotics-Analytics-Cloud (RAC) can fundamentally change the way
retail enterprises conduct businesses and connect with their customers.
• Robotics-as-a-Service (RaaS) business model built on RAC framework can help
retailers embrace smart robots in their ecosystem.
• RaaS model can provide retailers with opportunities to reduce costs, improve
organizational efficiency, enhance customer experience, and in turn, drive profits.
ForumTCS Retail Insights, Feb 2015, Issue 5
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From ‘Inspiring’ to ‘Leading’ Innovation: DARE to Innovate
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From ‘Inspiring’ to ‘Leading’ Innovation
DARE to Innovate
KEY INSIGHTS:
• Innovation in retail is not that ‘Eureka’ moment but a gradual transformational journey
that follows a three-tier process.
• From inspiring innovation to leading innovation, retailers need to undergo a gradual
transformation, balancing their current core competencies, and exploring future
opportunities.
• For retailers who aspire to embrace IT-driven innovation in a structured way, the TCS
DARE Innovation Framework offers a comprehensive blueprint.
• The passion to innovate should pervade across the enterprise, achieving breakthrough
results in work processes, the use of technology to connect across the enterprise, and in
enhancing customer interaction and engagement.
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