India’s largest IT firm, Tata Consultancy Services (TCS) is on the verge of closing one of the year’s largest deals worth $1 billion with Marks & Spencer (M&S), which is a British retail firm.
Over the period of next weeks, the deal shall be closed.
People privy to the development said that TCS is also working towards renewing their existing five-year engagement with the UK-headquartered company.
1 Billion$ Deal of M&S for BPS & Digital Transformation
The report said that the new deal may include payments for business process services and digital transformation programmes.
Spread out over a duration of 8–10 years, these engagements are likely to be long-term arrangements.
Now this deal is significant and historic in the pretext of the approach companies across the world have taken with regard to their technology-related expenditures in these economic downturn.
It is since 2018, that TCS and M&S have been strategic partners. Earlier, TCS provided human resource solutions for the retailer.
The report said that M&S designated TCS as a strategic partner because of the role that the company played in the migrating to a new technology model.
It was in last year in the month of July that a multi-year, multi-million-dollar agreement was signed by TCS with M&S.
The deal was aimed at transforming the British retailer’s human resource operations.
The latest deal is significant as it involves working on the Oracle supply chain management platform.
In order to facilitate a complete view of its product line and inform system operations and planning, TCS used Microsoft’s Azure Databricks technology.
Marks & Spencer
Headquartered in Paddington, London, Marks and Spencer is a major British multinational retailer that specialises in selling clothing, beauty, home products and food products.
Listed on the London Stock Exchange in FTSE 250 Index, it was earlier in the FTSE 100 Index from its creation until 2019.
