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The COVID-19 crisis has hit businesses harder than ever before. Although many large companies had a Business Continuity Plan (BCP) in place that they can fall back on in case of emergencies, but they fell short of expectations during this unprecedented crisis. In fact, sustaining the Business Continuity amidst the lockdown, social distancing, adapting to the 'New Normal' of remote work didn't quite go without hiccups for organizations across India.
Through the CIOL 'BCP PlayBook' series, we will try to give you a glimpse into the strategic Business Continuity Plans of various organizations across industries including the plan, the execution, the benefits they got from their updated BCP initiatives.
Today, we will take you through Tata Technologies' BCP initiatives. Tata Technologies is a global, engineering and product development Services company with clients across Manufacturing, Automotive, Industrial Machinery and Aerospace verticals who it serves through its two distinct lines of business: Engineering, Research & Development services, and Digital Enterprise Solutions.
In the video below, Arun Krishnamurthi, President-Europe, Tata Technologies tells how a nimble execution of BCP has helped its clients navigate through the sudden unprecedented challenges brought about by the COVID-19 crisis.
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(Please click on the image to watch the video)
COVID-19 has brought about unprecedented challenges to the clients across various sectors and geographies due to disruptions in the supply chain, liquidity crunch and muted consumer demand. But the company has been able to tackle the crisis with a three-phased BCP approach. First, it prioritized health and wellbeing of employees to ensure business continuity and stabilized cash flows. Secondly, it pursued structural enhancements by actively monitoring, analyzing the situation and building foundations for advantage and Prepare for a rebound by pro-actively seizing demand re-bound and exploring moves for strategic advantage.
In the first phase, key actions revolved around facilitating work from home for employees, engaging customers to support critical processes and continuously communicating with key stakeholders.
In the second phase, the key objectives were actively monitoring, analyzing the situation, and building foundations for advantage. It involved financial planning in view of best and worst-case scenarios, enhancing global delivery excellence through project management maturity, reskilling of capacity, overhead reduction, strengthening offerings, etc.
In the third phase of rebound, the focus was on tweaking sales to pursue the right deals, account-based marketing campaigns for seizing new opportunities, reviewing of current investment plans and scanning the market for additional investment opportunities.
Tata Technologies also contextualized the offerings through the ReSeT value proposition. Covering diverse areas such as system restart, digital transformation and vehicle engineering, the ReSeT programmes were geared towards helping businesses restart their operations, be competitive and win consumer confidence in the New Normal such as contactless operations, virtual product engineering, etc.
Key Benefits:
Ensured Work from Home support for planned and committed deliverables
Leveraged multi-territory presence to shift work to different locations
Supported critical product development cycle targets of the customers
Modified strategies and contextualized offerings for the New Normal
"Covid, or no Covid, BCP is important to build resilience"
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