OTHER GROUP COMPANIES
market

TCS announces strategic partnership with Outokumpu

Finland-based Outokumpu, the global leader in sustainable stainless steel, has entered into a multi-year strategic partnership with TCS to build a next-generation hybrid cloud platform.

July 05, 2022 11:48 IST | capital market
Outokumpu is the global leader in sustainable stainless steel. The foundation of the companys business is to tailor stainless steel into any form and for almost any purpose. Outokumpu aims to transform its IT landscape with a cloud-based digital core to reduce its carbon footprint and support its strategic aspirations. TCS will assist Outokumpu with its deep industry knowledge of the steel sector to support Outokumpu in building a new digital core using advanced digital technologies such as cloud, data analytics and Artificial Intelligence (AI). It will transform and migrate the steel-makers mission-critical manufacturing operations systems and core systems applications and products (SAP) systems to a new hybrid cloud architecture using Azure. Additionally, TCS will deploy new digital end-user services that will cater to the differentiated needs of each of Outokumpus business units and help them derive the full benefit of the transformation. TCS will leverage its Machine First approach to simplify production management using Cognix for workplace, its AI-driven human-machine collaboration suite. This will help create an intuitive, immersive, and intelligent workspace, offering delightful employee experiences. Subhadipta Samantray, country head of TCS Finland, said, ?We are delighted to enter into this strategic partnership with Outokumpu to accelerate their digital transformation and help realize their business vision. TCS deep contextual and industry knowledge, expertise in cutting-edge digital technologies, and innovative cloud-first solution will help Outokumpu gain agility, enhance user experience, reduce their carbon footprint, and establish competitive differentiation. This partnership represents an expansion of TCS footprint in the Finnish manufacturing sector, further strengthening our position as a growth and transformation partner in the region.? Separately, TCS on 4 July 2022 announced that the US district court in the western district of Wisconsin passed an order of $140 million punitive damages levied on the firm in the Epic Systems Corporation case. TCS is legally advised that it has strong arguments in its favor before the Appeal Court and the order on the punitive damages is not supported by the facts presented by TCS before the Trial Court. We have been advised that the order and the judgment (when issued) is appealable to the US Court of Appeals, 7th Circuit Chicago, the company stated. TCS is an IT services, consulting and business solutions organization. It offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. Its consolidated net profit rose 1.61% to Rs 9,926 crore on 3.49% increase in net sales to Rs 50,591 crore in Q4 FY22 over Q3 FY22. Shares of TCS were up 0.94% to Rs 3265.10 on the BSE. Powered by Capital Market - Live News

OPEN A DEMAT ACCOUNT & Get
FREE Benefits Worth 5,000

FEATURED ARTICLE

BLOGS

Open Demat Account

  • 0

    Per Order for ETF & Mutual Funds Brokerage

  • 20

    Per Order for Delivery, Intraday, F&O, Currency & Commodity