TCS on the verge of closing deals worth $1 billion with Marks & Spencer

Tata Consultancy Services (TCS), India's largest IT firm, is on the verge of closing one of the year's largest deals. According to a report published in The Economic Times (ET), TCS is set to close additional deals worth $1 billion with Marks & Spencer (M&S). M&S is a British retail firm. TCS plans to close the deal in the next few weeks.

 

In addition to this, TCS is also working towards renewing their existing five-year engagement with the UK-headquartered company, the report said, quoting people familiar with the development.

 

The new deal may include payments for business process services and digital transformation programmes, among others, the report said. The engagements are likely to be long-term arrangements spread out over a duration of 8–10 years. A deal of this size is significant given the approach companies across the world have taken with regard to their technology-related expenditures.

 

TCS and M&S have been strategic partners since 2018. Earlier, TCS provided human resource solutions for the retailer. Furthermore, TCS was also designated as a strategic partner by M&S as it helped them migrate to a new technology operating model, the report added.

 

Last year in July, TCS signed a multi-year, multi-million dollar agreement 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.

 

TCS and M&S have a decade-long partnership. Earlier, TCS used Microsoft's Azure Databricks technology to build a platform for M&S in order to facilitate a complete view of its product line and inform system operations and planning, ET reported.