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TCS, Coop Sweden ink partnership

Capital Market 

Coop Sweden has expanded strategic partnership with TCS to realize its long-term transformation goals.

Coop Sweden selected TCS as a strategic partner in 2019 to drive the integration of SAP S/4HANA within its core business systems. Over the next two years, TCS will closely collaborate with Coop to transform several key business areas across the retailer's network, including finance, logistics and procurement; category management, pricing, campaigns, and store operations; and master data and analytics.

TCS will redesign the business processes and help create a unified, real-time, process-centric view across Coop's retail operations that will enable overall operational excellence, improved stock visibility, optimized stock levels, richer assortment of offerings, traceability, and better availability at local stores, driving a superior customer experience. The new digital core is expected to help enhance the resilience, agility and adaptability of Coop's retail operations. The announcement was made during market hours today, 16 September 2020.

Coop is one of the largest retail and grocery providers in Sweden, with approximately 800 stores across the country.

TCS is an IT services, consulting and business solutions organization. It reported a 12.90% decline in consolidated net profit to Rs 7,049 crore on a 4.06% fall in net sales to Rs 38,322 crore in Q1 June 2020 over Q4 March 2020.

Shares of TCS fell 0.13% at Rs 2,487 on BSE. The scrip jumped 65.31% from its 52-week low of Rs 1,504.40 hit on 13 March 2020.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, September 16 2020. 13:26 IST