HP’s NEW $1.2BILLION OUTSOURCING DEAL

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HP’s NEW $1.2BILLION OUTSOURCING DEAL

 user 2006-08-09 at 11:57:00 am Views: 62
  • #16289

    Technology Outsourcing Agreement Worth $1.2 Billion Extended Between HP and CIBC
    An
    information technology outsourcing agreement has been amended and
    extended between Hewlett-Packard (Canada) Co. and the Canadian Imperial
    Bank of Commerce . The announcement was made today by Hewlett-Packard
    .The agreement specifies that that the outsourcing agreement will be
    extended for an additional four years, which will expire in 2013. The
    total value of the contract is approximately US$1.2 billion over the
    next seven years and it revises a previous contract initiated in
    2002.The HP IT outsourcing services and solutions are designed to
    further improve the efficiency and productivity of technology
    operations. HP is supporting CIBC in the management of a highly
    available, reliable and secure IT environment for its retail and
    wholesales banking business.According to Paul Tsaparis, president and
    chief executive officer, HP Canada, this extension with CIBC builds on
    the two companies’ existing agreement and marks a significant win for
    HP in an incredibly competitive industry. Working together, HP and CIBC
    will continue to provide the IT services that support CIBC’s focus on
    building positive relationships with its clients.Ron Lalonde, senior
    executive vice-president, Administration, Technology and Operations,
    CIBC, contributed that his company is pleased to extend its strong
    relationship with HP. The agreement allows CIBC to take advantage of
    HP’s services and expertise to manage its IT needs effectively on
    behalf of its clients and employees.CIBC has responsibility for desktop
    support infrastructure, help desk and related network services under
    the contract with HP. CIBC’s enterprise infrastructure will be
    supported by services and solutions from HP. This service and support
    will also extend to CIBC’s Internet banking, branch tellers, automated
    banking machines, point-of-sale, wire payments and fraud detection
    systems.The agreement outlines that HP will also be responsible for
    data center and network infrastructure management, host (mainframe and
    HP NonStop systems) and midrange transaction processing, application
    services, operating systems, storage and desktop messaging.The banking
    industry in which CIBC operates is extremely competitive. In order to
    differentiate itself, this organization must be able to deliver not
    only top of the line technologically-advanced solutions for its
    clients, it must also be able to deliver exceptional customer service.
    This agreement with HP should help CIBC to deliver both.HP will be able
    to effectively assist CIBC in ensuring that its Help Desk solutions, in
    addition to other systems, are not only up-to-date, but that they are
    delivering the most efficient and productive support necessary to
    deliver real-time functionality. CIBC cannot afford to provide anything
    less and this extension of the 2002 contract proves that HP is
    delivering.