Xerox in its latest quarterly earnings report has revealed that its seven-year agreement with Tata Consulting Services (TCS) is worth USD 355 million.
The TCS deal is aimed at consolidating Xerox’s technology services to enhance business outcomes, migrate legacy data centres to the cloud, and implement a cloud-based digital ERP platform to transform business processes. Additionally, it will integrate generative artificial intelligence (GenAI) into operations to drive sustainable growth.
“In connection with the technology agreement with TCS, Xerox also entered into seven-year agreements with both SAP Limited (SAP), who will provide Xerox with a cloud-based digital ERP platform, and Microsoft, who will provide their Azure cloud platform services,” Xerox mentioned in its earnings report.
Xerox is undertaking a major IT transformation initiative, investing a combined USD 525 million in new technology investments under a multi-party agreement with Tata Consultancy Services (TCS), Microsoft, and SAP. The seven-year contract will see Xerox allocate USD 355 million to TCS, USD 25 million to Microsoft and USD 45 million to SAP.
TCS currently provides business processing outsourcing services in support of Xerox’s global finance and accounting organisation.
In June, TCS said it had expanded partnership with Xerox to undertake a comprehensive end-to-end transformation program, though the deal’s financial details were not disclosed.
Also Read: TCS Wins Xerox Deal For Cloud, GenAI-led IT Transformation
