Why TCS is a trusted growth and transformation partner for multinational companies in China

By Suneet Puri

A recent World Bank report forecasted that China’s economic output will lag behind the rest of Asia for the first time since 1990, with GDP growth of just 2.8% in 2022. What remains unaffected, however, is China’s towering presence in the global economy. As the world’s second largest economy by nominal GDP, as well as the largest manufacturing economy and exporter of goods among other foundational advantages, China will continue to be central to the globalization strategy of companies across the world.??

NAVIGATING A COMPLEX ENVIRONMENT - THROUGH TECHNOLOGY

The size and attractiveness of the country notwithstanding, China can represent a challenging environment for companies to operate in, be they homegrown outfits looking to expand their footprint globally, or multinational companies exploring or doing business here in the vast mainland.?

For the latter looking to enter the market, or already doing business here, some of the headwinds include navigating the local regulatory landscape, language integration, high degree of competition from local companies, hiring local employees and their management, while balancing these with the critical need to localize products and services.

Over the years, Chinese companies have been rapidly expanding overseas. According to the 2021 CEIBS research paper on the Global Expansion of Companies Employing CEIBS EMBA Students, two-thirds of the companies surveyed were engaged in overseas business activities. For many of the Chinese companies going global, globalization comes with its own set of challenges, including meeting compliance needs, navigating regulatory requirements, language integration, and hiring and managing local employees.

Geopolitical factors, cultural integration and branding are among the other hurdles these companies face while overseas.

Yet, irrespective of the vector of expansion, technology can be a significant enabler for both these categories of companies in their journey of expansion, internationalization and transformation.??

A TRUSTED GROWTH AND TRANSFORMATION PARTNER FOR CORPORATE CHINA

At Tata Consultancy Services (TCS) China, we have extensive experience in working with both these types of multinational companies. Over a two-decade journey in China, TCS has helped a diverse set of companies, across industries, g-scale and complexity, grow and soar by providing the wind beneath their wings through technology. Backed by the legacy of trust and customer-focus of the over-150-years-old Tata Group, TCS China has emerged as the preferred growth partner of many homegrown companies and MNCs in China.

Commencing its China operations in June 2002, TCS has made substantial investments in the country over the years in shaping a robust foundation for delivery. It is no surprise therefore that TCS was the first CMMI & PCMM Level 5 Company established in China.?

For multinational companies with operations in China or looking to start operations here, TCS helps build bridges between global headquarters and China operations by providing local operations and technology support, adhering to their corporate guidelines as well as the needs of local contextualization, all of which are key to helping organizations with their growth and expansion in China.

With offices in 55 countries around the world, TCS has extensive experience in helping clients stay on the right side of local laws and regulations. For example, we conduct self-assessment and set up dedicated teams to ensure that all our internal processes strictly comply with laws and regulations, including those pertaining to data and processes.

We have also continued to provide value-added technical and commercial operation services for both local customers as well as those expanding overseas, including digital payment, biotechnology, and clean energy. This is important as the opportunities that this market provides to multinational companies remain unmatched.

So, whether you are looking to take China to the world or bring the world to China, TCS China can be a trusted growth and transformation partner to help your business grow, transform and thrive.

ABOUT THE AUTHOR

Suneet Puri is Country Head of Tata Consultancy Services (TCS) China, a role he’s held since 2017. He is dedicated to meeting clients' business needs end-to-end by integrating cutting-edge technology, commercial and digital solutions.

References

1.????https://www.theguardian.com/business/2022/sep/27/china-growth-lags-asia-pacific-for-first-time-in-decades-as-world-bank-cuts-outlook

2.????https://en.wikipedia.org/wiki/Economy_of_China

3.????https://www.trade.gov/country-commercial-guides/china-market-challenges

4.????https://nhglobalpartners.com/china-market-entry-challenges/

5.????https://www.ceibs.edu/new-papers-columns/20678#:~:text=At%20the%20same%20time%2C%20Chinese,overseas%20business%20in%20the%20future.

6.????https://www.getblend.com/blog/chinese-companies-localization-challenges/

7.????https://www.tcs.com/cn-zh/discover-tcs/newsroom/tcs-china-in-news/suneet-puri-iQIYI-interview