TCS extends Partnership with Xerox for Transformation Programme

CIOTechOutlook Team | Saturday, 22 June 2024, 02:15 IST

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Tata Consultancy Services (TCS), information technology services firm, announced it has expanded its strategic collaboration with Xerox to carry out an end-to-end transformation program. The development comes months after Xerox said in January that it will decrease its workforce by 15% as part of a'reinvention' strategy. 
 
The US-based workplace technology firm (a global leader in digital print technology and related solutions) has a $1.3 billion outsourcing agreement with HCLTech that was signed in 2019.
 
According to regulatory filings with the US Securities and Exchange Commission (SEC), the firm's contractual financial commitments for the year ended December 2023 to both HCLTech and TCS totaled $296 million. However, both Indian vendors were only able to collect approximately $227 million from the US-based corporation, which is nearly $70 million less than their estimated revenue for the same year.
 
TCS will consolidate Xerox's technology services to improve business outcomes, migrate complex legacy data centers to the Azure public cloud, deploy a cloud-based digital ERP platform to transform business processes, and use generative artificial intelligence (Gen AI) to drive long-term growth, according to an exchange filing.
 
Tino Lancellotti, chief information officer, Xerox, said, “This digital transformation initiative is an important enabler for reinventing our operating model to simplify our geographical, offering, and operational footprint while transforming our clients’ experience. We believe TCS is the right partner to deliver such a complex program, given their proven experience both within Xerox and across the industry.”
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