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TCS bags Marks & Spencer deal to help become a digital-first business

Marks & Spencer has a five-year plan to transform its business by making technology function deliver more commercial opportunities.

business Updated: Jan 15, 2018 15:06 IST
Press Trust of India
Press Trust of India
Press Trust of India, Mumbai
TCS,Marks & Spencer,Digital Business
Logos of Tata Consultancy Services (TCS) are displayed at the venue of the annual general meeting of the software services provider in Mumbai, June 29, 2012. (Reuters File Photo)

The largest software exporter TCS has expanded its relationship with British retailer Marks & Spencer (M&S) to enable it become a digital-first business.

As part of the deal, whose total value is not disclosed, the company will become a principal technology partner for the retailer, TCS said in a statement on Monday.

The retailer has a five-year plan to transform its business by making technology function deliver more commercial opportunities, it said, adding TCS will help drive agility, intelligence, innovation and efficiency to up the customer experience and also drive growth in business.

TCS chief executive and managing director Rajesh Gopinathan said the company has already built a strong contextual knowledge of M&S’ business through the last few years’ partnership.

“TCS will help the customer adopt a digital-first mind-set to win new customers and create growth at accelerated pace,” he said.

The retailer’s chief executive Steve Row said M&S and TCS will join forces to make its business “faster, simpler and more focused on achieving a seamless customer experience.”

TCS will transition M&S to a new technology operating model, which embraces the agile mind-set to transform business and IT strategy, aligned with rapid technology innovation to meet fast changing business priorities, the statement said.

The announcement comes days after TCS announced a $2-billion contract win from American insurer Transamerica to transform the latter’s insurance and annuity business lines.

The TCS scrip was trading 0.61% down at Rs 2,756 a piece on the BSE, as against a 0.74% jump on the benchmark at 1321 hrs.

First Published: Jan 15, 2018 15:06 IST