Tata Consultancy Services (TCS), India’s largest IT company, is about to close one of the biggest deals of the year. According to a report published in Economic Times (ET), TCS is set to close additional deals worth $1 billion with marks and spencer (MS). M&S is a British retail company. TCS plans to close the deal in the coming weeks.
Besides this, TCS it is also working to renew its existing five-year commitment to the UK-based company, according to the report, citing people familiar with the development.
The new agreement may include payments for business process services and digital transformation programs, among others, according to the report. The commitments are likely to be long-term agreements spread over a duration of 8 to 10 years. A deal of this size is significant given the focus companies all over the world have taken regarding their technology related expenses.
TCS and M&S have been strategic partners since 2018. Previously, TCS provided HR solutions for the retailer. In addition, M&S has also designated TCS as a strategic partner as it has helped them migrate to a new technology operating model, the report added.
In July of last year, TCS signed a multi-million dollar, multi-year deal with M&S. The deal was aimed at transforming the British retailer’s HR operations. The latest deal is significant as it involves working on Oracle’s supply chain management platform.
TCS and M&S have a decade-long association. Previously, TCS used Microsoft’s Azure Databricks technology to create a platform for M&S to provide a complete view of its product line and inform system operations and planning, ET reported.
