Global analytics software leader FICO has announced a strategic partnership with Tata Consultancy Services (TCS), a global IT services, consulting and business solutions organization, to bring advanced optimization and decision management solutions to businesses in a range of industries worldwide. TCS will use FICO® Platform, a low-code/no-code solution for analytics-powered decision automation and mathematical optimization, to create industry-specific solutions powered by real-time, fully interpretable analytics, machine learning and cutting-edge AI models. Both firms will support these offerings with expert professional services. TCS was recently recognized with the Global System Integrator Award from FICO.
Learn more: https://community.fico.com/partners/s/partner-listing
One of the initial areas of focus is “truck roll” optimization — using FICO’s proprietary optimization technology to improve the efficiency of dispatching service vehicles for customer support. This solution can significantly reduce costs, improve response times and lower carbon emissions. A case in point is Traxión of Mexico, a FICO® Decisions Award winner, which decreased empty trips by 40%, saved US$5 million annually, and cut emissions while minimizing fleet wear and tear.
Additionally, TCS and FICO are developing solutions for the telecommunications, media and other sectors, starting with a solution aimed at reducing churn, increasing revenue and optimizing cost for service providers. TCS will showcase FICO technology at the TCS Pace Port™ co-innovation and research centers.
TCS and FICO will also address the increasing financial and operational risks businesses face due to climate change. Escalating extreme weather events, such as wildfires in the U.S., record heatwaves in Europe and floods in Japan, have highlighted the vulnerability of businesses and consumers. In response, TCS and FICO are creating predictive risk modeling and decision analytics to help insurers and their clients mitigate the rising costs and losses associated with climate-related natural disasters.
“We see immense potential in the TCS FICO partnership, helping businesses manage customers better, and strengthen and operationalize AI/ML. We will make it easier for business users at every level to apply innovations in decision science to their day-to-day operations by using the best-in-class set of analytics and decisioning offerings,” said Akhilesh Tiwari, president, Communications, Media and Information Services (CMI) Business Group at TCS.
“Companies are now data-driven, but the next evolution is to be decision-driven,” said Alexandre Graff, vice president of partnerships for FICO. “TCS brings deep industry expertise and unparalleled solution delivery. Together, we’ll help businesses in diverse industries harness the power of advanced analytics and decision technology solve critical challenges, from fleet management to supply chain optimization.”
FICO optimization technology enables businesses to evaluate millions of potential scenarios and identify the ideal strategy. With high-performance solvers, flexible modeling environments and comparative scenario analysis, it’s a comprehensive solution for both on-premises and cloud deployments. FICO decisioning technology automates decisions using data-driven insights, business rules, event-driven triggers, and a learning loop, empowering businesses to make smarter, faster decisions.
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 613,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, 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
About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency.
Learn more at http://www.fico.com.
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