TCS to get new $1 billion order from Marks & Spencer

10 Mar 2023 , 01:51 AM

The biggest IT company in India, Tata Consultancy Services (TCS), is about to finalize one of the biggest agreements of the year. The Economic Times (ET) said that TCS is about to finalize further agreements with Marks & Spencer totaling $1 billion (M&S). In the upcoming weeks, TCS hopes to complete the transaction.

According to the article, which cited sources familiar with the development, TCS is also working to extend its current five-year agreement with the UK-based company.

According to the article, the new agreement may also cover payments for initiatives like digital transformation and business process services. The engagements are probably long-term contracts that last between 8 and 10 years. Given the path businesses throughout the world have taken with regard to their technology-related expenditures, a deal of this size is important.

Since 2018, TCS and M&S have collaborated strategically. Formerly, TCS offered the store human resource management solutions. The study also stated that M&S recognized TCS as a key partner since it assisted them in transitioning to a new technology operating model.

TCS and M&S struck a multi-year, multi-million dollar contract in July of last year. The British retailer’s human resource management was to be transformed as a result of the agreement. Because it entails utilizing the Oracle supply chain management platform, the most recent agreement is crucial.

M&S and TCS have been working together for ten years. Earlier, according to a report from ET, TCS built a platform for M&S using Microsoft’s Azure Databricks technology to enable a comprehensive picture of its product line and inform system operations and planning.

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