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Xerox and Tata Consultancy Services Forge New $355 Million Deal.
Xerox has announced a significant partnership with Tata Consultancy Services (TCS), with the agreement valued at $355 million. This deal is part of Xerox’s broader IT overhaul strategy, aimed at modernizing its technology infrastructure to drive business efficiency and innovation.According to Xerox’s recent quarterly earnings report, this seven-year contract is designed to streamline Xerox’s technology services. The key objectives include transitioning legacy data centers to a cloud environment, deploying a cloud-based digital ERP platform, and leveraging generative artificial intelligence (GenAI) to foster sustainable growth.
As part of this comprehensive technology transformation initiative, Xerox has also secured concurrent seven-year contracts with SAP Limited and Microsoft. SAP will provide a cloud-based digital ERP solution, while Microsoft will deliver cloud services through its Azure platform. The total investment for these technology upgrades amounts to $525 million, with $355 million allocated to TCS, $45 million to SAP, and $25 million to Microsoft.
TCS has been a long-time partner, delivering business process outsourcing services for Xerox’s global finance and accounting functions. The expanded collaboration announced in June marks a deeper engagement, with details of the financial aspects only now becoming public.
This strategic move reflects Xerox’s commitment to modernizing its IT landscape and enhancing operational efficiencies through cutting-edge technology.
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