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Tanishq has gained a unified, real-time view of inventory across all stores: Krishnan Venkateswaran, Chief Digital Officer, Titan

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In an era where data is the new gold, and agility is paramount, the cloud emerges as a transformative asset for businesses seeking to thrive and evolve. Among these, Tanishq, India’s renowned jewelry brand, has harnessed the power of the cloud to reinvigorate its retail landscape. The cloud isn’t just a technological leap; it’s a strategic imperative that has redefined the way Tanishq operates and connects with its customers.

Krishnan Venkateswaran, Chief Digital Officer, Titan, shares with us how Tanishq, with its rich legacy of craftsmanship and innovation, understands that success in the jewelry business isn’t solely about precious metals and gemstones; it’s about staying ahead of the curve in a fast-paced digital world. This is where the cloud (in the form of Oracle Cloud Infrastructure) has become a pivotal ally.

Some edited excerpts from an interview:

Can you give us a brief background about the brand Tanishq?
Established in 1994, Tanishq is TATA Group’s jewellery division with over 800 outlets that includes Tanishq, Mia, Zoya and Caratlane brands spread across 260 cities in India. It has plans to expand its presence and market share over the next five years. Tanishq has emerged as India’s fastest growing jewellery brand and is a name which signifies superior craftsmanship, exclusive designs and superlative product quality.

How has the cloud played a role in resolving some of the technical problems faced by Tanishq?
Our customers preferred to physically look for products with the intention of purchasing a specific product. Subsequently, they would thoroughly peruse the entirety of the store’s inventory, exhaust the staff, before ultimately departing without making a purchase.

As customer demand for jewellery increased, Tanishq developed an Endless Aisle service for its store managers that allows customers to order products, including those not available in the store. To keep pace with customer demand for its products, Tanishq moved the system which it built on Oracle APEX, a low-code application development platform, to Oracle Cloud Infrastructure (OCI). By migrating Endless Aisle to OCI, Tanishq has gained a unified, real-time view of inventory across all stores, which helps it meet customer demand and allows it to optimize inventory and increase revenue.

Why did Tanishq choose OCI?
To keep pace with customer demand for its products, Tanishq moved the system which it built on Oracle APEX, a low-code application development platform, to OCI. The company, a longtime Oracle customer, selected Oracle Cloud Infrastructure (OCI) because provisioning resources would be easy, and the system could scale up or down based on demand.

The solutions implemented by Tanishq are: Tanishq has migrated its inventory management system to Oracle Cloud Infrastructure (OCI), including Oracle Database, Oracle APEX, Oracle Web Application Firewall, and OCI Flexible Load Balancing. With real-time visibility into inventory levels and order fulfilment, Tanishq is able to meet the influx of customer demand and reduce its technology support costs by 30 percent. Tanishq has gained a unified, real-time view of inventory across all stores, which helps it meet customer demand and allows it to optimize inventory and increase revenue. Oracle Web Application Firewall: Tanishq protects its business against unwanted internet traffic and Flexible Load Balancing allows it to distribute network traffic equally during peak demand across its 500 stores. Through Oracle Support Rewards: Tanishq estimates a substantial CAPEX and software support cost savings of up to 30 percent, supporting the company’s future expansion plans. Oracle APEX, a no-cost capability provided with Oracle Database: Tanishq to manage changing demand for its Endless Aisle service by adding compute and storage resources, and scale back down when it is no longer necessary.

How did Tanishq benefit from this solution?

With real-time visibility into inventory levels and order fulfillment, Tanishq is able to meet the influx of customer demand and reduce its technology support costs by 30 percent. Tanishq has gained a unified, real-time view of inventory across all stores, which helps it meet customer demand and allows it to optimize inventory and increase revenue. With OCI Web Application Firewall, Tanishq protects its business against unwanted internet traffic and Flexible Load Balancing allows it to distribute network traffic equally during peak demand across its 800 stores. Oracle Support Reward has helped Tanishq estimate a substantial CAPEX and software support cost savings of up to 30 percent, supporting the company’s future expansion plans.

Can you share your perspective on the strategic partnership you have with Oracle?
Tanishq migrated its inventory management system to Oracle Cloud Infrastructure (OCI), including Oracle Database, Oracle APEX, Oracle Web Application Firewall, and OCI Flexible Load Balancing. The solutions implemented by Tanishq enables the company to manage changing demand for its Endless Aisle service by adding compute and storage resources, and scale back down when it is no longer necessary. After moving to OCI, Tanishq gained a unified, real-time view of inventory and order fulfillment across all of its retail outlets. Store managers access stock with a single click while customers can order jewelry easily, including designs not available in the store.

Can you share some recent digital initiatives taken by Tanishq and the impact of the same?
As part of Tanishq’s recent digital initiatives to enhance its presence and engagement with customers the company has launched a user-friendly and visually appealing website, a robust mobile app for convenient shopping, and an active presence on various social media platforms. The brand has also embraced virtual try-ons, allowing customers to visualize jewelry before making a purchase.

The impact of these initiatives has been significant, and the website and mobile app have provided a seamless shopping experience, allowing customers to browse and purchase jewelry from the comfort of their homes. The virtual try-on feature has enabled customers to make more informed decisions, leading to higher customer satisfaction and reduced returns.

Overall, these digital initiatives have not only expanded Tanishq’s customer base but also elevated its brand image in the digital realm, resulting in increased sales and customer loyalty.

Why has technology become an essential part of your business?
Technology has become an essential part of all the business because it improves communication, streamlines decision making, propels marketing and business growth, enhances customer relationship, boosts competitive edge. It brings new innovations and protects the most important assets. With technology, there are no limitations. Technology today performs many of the mundane tasks that employees previously performed. This allows employees to focus their time on other more important tasks, saving money by reducing and improving productivity. It is clear that the role of technology in business is to drive growth and improve operations.

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