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New Delhi, Feb 3 () IT major Tata Consultancy Services on Monday said it has bagged a USD 1.5 billion (about Rs 10,650 crore) contract from pharma company Walgreens Boots Alliance, spread over a period of 10 years.
 Under the contract, TCS will provide managed services including application maintenance and support, required infrastructure and security operations.
 "Tata Consultancy Services has expanded its long-standing partnership with Walgreens Boots Alliance, a global leader in retail and wholesale pharmacy, to transform the latter's IT operating model. The contract is valued at over USD 1.5 billion over a ten-year period," TCS said in a BSE filing.
 The expansion of WBA and TCS strategic partnership is based on WBA's review of its IT operating model and vendor landscape.
 As a result, the WBA global IT team will focus on leading and supporting strategic technology projects that create customer value through the development of new digital products and services on its business platforms.
 "The TCS strategic partnership will enhance our ability to rapidly address evolving business needs, support large-scale global technology solutions and promote investment in truly differentiating capabilities through a modernized platform," WBA Senior Vice President and Global Chief Information Officer Francesco Tinto said in a statement.
 The TCS approach will blend artificial intelligence, machine learning and advanced software engineering to enhance operational resilience and boost productivity, the statement said. PRS RVK

TCS bags USD 1.5 bn contract from Walgreens Boots Alliance

<ul><li>A third wave of outsourcing is on its way and <keyword id="6357549" type="UNKNOWN" weightage="20" keywordseo="Indian-IT-companies">Indian IT companies</keyword> like <keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword>, Infosys and Tech Mahindra have the most to gain, according to <keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword>. </li><li>Riding the third wave, Indian IT services behemoths are on the edge of doubling their market share, seeing double digit revenue growth and wider margins.</li><li>TCS, in particular, will be racing ahead of the rest.</li></ul>There’s obvious opportunity for Indian IT companies like Tata Consultancy Services (TCS), Infosys, HCL Technologies and others as more businesses look to enable ‘work from anywhere’. This will be the third wave of outsourcing this millennium, according to Goldman Sachs, with the potential to double market share for Indian IT services giants, deliver double digit revenue growth and expand margins. <div type="image" title="IT market share to grow goldman sachs" msid="77864245" hostid="261"></div> <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Time period </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Outsourced IT services spend growth </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Last 10 years </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4-5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021-2024 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6-8% </td></tr></tbody></table>(Source: Gartner) “After a steep decline of 2.7% in USD revenues for the Top 5 Indian IT firms in FY21E due to the COVID-19 impact, we are expecting a sharp revival in growth over FY22 and FY23E,” said the global investment behemoth Goldman Sachs. The only company that seems to be left behind the fray is Wipro. <div type="image" title="Copy of IT market share to grow goldman sachs" msid="77864258" hostid="261"></div> TCS, on the other hand, may race ahead of the others. It has an edge since it’s the only Indian IT company with greater market share in healthcare than in manufacturing. <div type="image" title="Copy of Copy of IT market share to grow goldman sachs" msid="77864275" hostid="261"></div> “We see TCS as one of the largest beneficiaries of these trends given its wide array of services and capabilities, geographic presence, wide client base, consistent strong execution and ability to work remotely at a large scale with c.450K employees,” said the Goldman Sachs’ report dated August 28. Riding the increased reliance of businesses on digital technology, working from home also cuts down costs like transportation and infrastructure expenses, allowing companies to expand their margin and get a bigger bang for their buck. How Indian IT companies will ride the third wave of outsourcing Demand already exists. History also supports the conclusion that the Indian IT industry is normally a late cycle beneficiary of global changes in technology. When the first wave of outsourcing occurred in 2000 after Y2K — a computer program bug that was expected to cause havoc as the year changed from 1999 to 2000 — the Indian IT sector grew faster than 40% from a small base and minimal global penetration to Indian IT companies becoming market leaders, according to Goldman Sachs. And, again, after the 2008 GFC when the Indian IT industry grew at more than 15% for three to four years before growth returned to high single digits. “This happened both due to a shift to cloud based infrastructure and the higher use of automation tools, forcing Indian IT firms to look for new ways to sell IT solutions, shifting from labor cost arbitrage to business transformation through digital technologies,” explained the report. This is compounded by the fact that India is currently home to the largest pool of digital skilled employees in the world. <div type="image" title="snapshot-1598933384850" msid="77864293" hostid="261"></div> “We believe these digitally trained employees at Indian IT firms are likely to drive overall revenue growth, which would be the key reason for their increasing relevance amid the requirement for digital-at-scale solutions,” said Goldman Sachs. <div type="image" title="pjote chart" msid="77864307" hostid="261"></div> However, not everything is as rosy as it appears Even though businesses are looking to become more digital, recurring revenues for IT companies have been falling as compared to those vendors which specifically provide software as a service (SaaS) and infrastructure as a service (IaaS). In order to address this risk, Goldman Sachs argues that Indian IT services companies will focus more on signing large contracts that look after a client’s entire IT function. These companies also have the option to sell their solutions on a vertical-specialised platform — one that focuses on a specific industry — to increase stickiness of revenue. “Both of the above approaches require more fixed-price and outcome-based contracts with higher risk-reward,” said the global investment firm. Examples of this strategy being applied already exist with Infosys’ deal with Verizon in late 2018 and TCS’ deal with Walgreens Boots Alliance (WBA) for $1.5 billion in February earlier this year. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/dollar-index-is-at-a-two-year-low-and-heres-how-much-it-may-hurt-tcs-infosys-hcl-tech-and-others-if-it-stays-weak/articleshow/77843868.cms">Dollar Index is at a two-year low⁠ and here’s how much it may hurt TCS, Infosys, HCL Tech and others if it stays weak</a> <a href="https://www.businessinsider.in/stock-market/markets/news/there-arent-enough-shares-of-hdfc-bank-indusind-bank-and-kotak-bank-that-foreign-investors-can-buy/articleshow/77798108.cms">There aren’t enough shares of HDFC Bank, IndusInd Bank and Kotak Bank that foreign investors can buy</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-adds-36-75-lakh-while-airtel-lost-47-72-lakh-subscribers-in-may/articleshow/77760669.cms">It's the day Airtel and Vodafone Idea have been waiting for – here’s the AGR case timeline of 26 years</a>

TCS, Infosys and HCL Tech have the most to gain from post COVID wave of outsourcing

<ul><li>The technology major reported a 0.3% growth in dollar revenue in constant currency terms.</li><li>Operating margin of 25% was better than most estimates.</li><li>The company declared a dividend of ₹5 a share along with its earnings.</li><li>These are some of the big deal wins as declared by the management.</li></ul>Technology major <keyword id="385529" type="PERSON" weightage="20" keywordseo="TCS-revenue">TCS revenue</keyword> barely grew in the three months between October and December 2019. However, the Chief Executive Officer (CEO) Rajesh Gopinathan highlighted a slew of large deals that the company bagged in the last quarter. The aggregate TCV for this quarter is $6 billion, adds up to $18 billion for the first three quarters of the fiscal year. It shows the level of activity in the market, the CEO added. These are the new deals and extensions listed by the company in its statement <ul><li>Walgreens Boots Alliance, a leading North American pharmacy retailer, selected <keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword> as trusted partner to accelerate the work on transforming its critical pharmacy operating system leveraging TCS contextual knowledge. The solution will be cloud native with modern architecture enabling <keyword id="6355515" type="UNKNOWN" weightage="20" keywordseo="business">business</keyword> agility and improved customer's experience. </li><li>Petco, America's leading pet specialty retailer, selected TCS Optumera™, the award-winning AI-powered merchandize optimization suite, to hyper-localize and optimize its store products and space strategies in an integrated way, with greater speed and precision in decision-making, and deliver an improved end-to-end customer experience. </li><li>IAG Tech, part of International Airlines Group, has extended its strategic technology partnership by selecting TCS to support existing datacenter infrastructure and services. This multi-year managed services contract will optimize and support datacenter operations, standardize processes and technologies, and reduce the legacy IT footprint to enable IAG's datacenter transformations across all operating companies. </li><li>Chosen by Bayer, a leading life sciences company, as a strategic partner to provide IT transformation services across the pharmaceuticals and consumer health business, as well as in the area of corporate functions and HR across the enterprise. TCS was selected for its capabilities in research and development, as well as track record in delivering large and complex engagements. </li><li>Selected by a France-based global pharmaceutical company, for end to end transformation of the user experience, enabled by Digital Workplace Services, leveraging the combined strengths of next gen analytics and cognitive automation with robust global service delivery capability. </li><li>Selected by one of the largest pan-Asian life insurance groups to deliver a major cloud transformation and modernization program, leveraging Agile techniques, to enable hyper personalized customer experience and to support future growth. </li><li>Engaged by a UK-based multinational pharmaceutical company to deliver an Agile/Dev-Ops transformation of its IT Research and Development operating model. This value-driven Agile culture will enable the company to deliver "medicines that matter" and change patient’s lives by focusing on a unique equation combining Science x Technology x Culture. </li><li>Chosen by a global banking and financial services holding company as its partner for transforming its FDIC compliance regulatory reporting. </li><li>Selected by CSL Behring, a leading rare diseases biotech company, as a strategic business technology partner to help consolidate and transform its operations and business enablement model and support its accelerated growth plans. </li><li>Chosen by a major UK-based financial services company, to re-imagine and transform the employee experience by implementing a persona-centric, modern and collaborative Digital Workplace to dramatically improve workplace productivity, co-ordination, agility and innovation. TCS will also transform the security ecosystem to provide superior protection against major cyber threats. </li><li>Selected by a leading UK-based multinational energy and utilities company as their strategic innovation-ecosystem partner for transforming their product portfolio and innovating at scale. The engagement includes building capabilities for legacy modernization, cloud transformation, integration of acquisitions, and AI-based data security compliance with GDPR/CCPA regulations. </li><li>One of Australia’s leading banks is expanding its strategic partnership with TCS to drive service management transformation in its Consumer Banking, Business Banking, Institutional Banking businesses and corporate functions. As the single partner of choice, TCS will enable this transformation leveraging TCS’ Run-the-Bank framework and assets, Machine First™ Delivery Model and its cognitive automation product, ignio™. </li><li>Chosen by a pioneering high-end luxury fashion group based in France, to transform their global finance and supply chain functions for better customer experience and efficient operations. TCS will lead the design and deployment of the enterprise resource planning template to rationalize applications for their North America operations to ensure faster time to market, streamlined fashion management supply chain cycle and greater efficiency. </li><li>Selected by a US-based multinational pharmaceutical company for enabling real-time analytics to optimize their business functions including manufacturing, sales, transportation, scrap &amp; raw materials inventory, and quality metrics analysis. TCS will develop a solution on a leading public cloud platform using state-of-the-art data analytics and visualization technologies. </li><li>Selected by a global leader in the transportation and storage of specialty chemicals, to stay ahead of changing markets by modernizing its big data platform on the cloud. This will help unlock the power of data, accelerate the growth and transformation journey for organizational agility, and deliver enhanced business ROI. </li><li>Engaged by an American Fortune 100 energy company, for enhancement and managed services for their IoT-based mobile field management suite of applications. This application is used to track their real time field problems, relevant maintenance service, resource planning, outage management and periodic inspections. </li><li>Engaged by one of the largest telecom service provider in USA, to implement an online device registration portal leveraging a leading IoT platform to enhance their connectivity management API with real time inputs, provisioning, monitoring, usage management, reporting &amp; analytics integrated with messaging, location services and firmware management features. </li><li>Engaged by a leading US-based automated pool accessories manufacturer as partner in their connected pool IoT solution for its line of residential pool equipment to generate additional revenue streams and increased market share from hi-tech value-added services. </li><li>Engaged by one of the largest American multinational technology companies, to transform their current legacy and home-grown HR systems and processes, and enable their transition to a unified cloud platform for seamless employee onboarding, superior engagement and experience. </li><li>Selected by a leading American health insurer to improve engagement of customers and partners, while creating new efficiencies in related business functions. A leading cloud-based health insurance CRM platform will replace the legacy front and back-office systems, reimagining how business is done and provide a unified experience across business functions. </li><li>Engaged by a US-based bank to streamline its customer engagement channels and operations, migrating its legacy technology applications to a leading cloud-based financial services CRM solution. This move will consolidate business processes and systems across its retail, wealth, and commercial lines of business, to increase customer wallet-share. </li><li>Selected by a leading networking company based in the US to manage onboarding, migration, and integration of its most recently acquired company to its operations and enterprise platforms on the cloud. This integration will ensure that the investment made in the acquisition is maximized through cross-selling solutions across the respective customer segments. </li><li>Chosen by a British semiconductor and software design company for its employee experience transformation program designed to consolidate its diverse HR portfolio into a harmonized platform which will help improve employee experience. </li><li>Engaged by a global pharmaceutical giant based in Germany to deliver digital content production services for its global marketing needs as part of its renewed go to market strategy. </li><li>Selected by a global medical devices company, to prepare for scaling blockchain solution for tracking movement of surgical supplies. The pilot solution that has been deployed to improve visibility from manufacturing through distribution would be evolved to scale up transaction volumes in 2020. </li><li>Selected by a global leader in airline catering, retail-on-board and hospitality products and services, to host their ERP and Analytics applications on the TCS Enterprise Cloud Platform, and provide ongoing support for ERP administration. </li><li>Selected by a major UK insurer for transforming its IT infrastructure to meet dynamically growing business requirements, leveraging the TCS Enterprise Cloud Platform. </li><li>Engaged by a leading global financial services firm, as the strategic partner to modernize their application portfolio, currently on legacy mainframe systems, to a leading public enterprise cloud platform by leveraging TCS' Cloud Migration &amp; API factory model. </li><li>Chosen by a leading multinational bank based in Europe to govern and manage their risk and assurance process for security infrastructure. TCS will enable it to transform to a new operating model leveraging its Machine First approach, and migrate their SOC to a cloud to optimally support increased demand with real-time analysis and visualization of machine data. </li><li>Engaged by a Netherlands-based global semiconductor manufacturer as a delivery and innovation partner to transform their overall security posture, by setting up a robust security operations center with contextualized threat intelligence and orchestration, leveraging intelligent automation technologies. </li><li>Engaged by a leading American coffee company and coffeehouse chain to support their security operations including Public Key Infrastructure, privileged identity management, web single sign on and federation, virtual directory, external identity management and automated provisioning. </li><li>Selected by Aptiv PLC, a global technology company, as a strategic partner to continue to advance their IT Infrastructure Operations by bringing in business aligned, scalable, secure, digitally automated operations using cognitive tools powered by the MFDM™ framework. </li><li>Selected by one of the largest agricultural products firms, to provide end to end infrastructure services with a new engagement model leveraging service reliability engineering &amp; digital technologies. The scope includes cognitive technology powered service desk, field services, digital workplace services, client experience and unified collaboration services, cloud and on-premise hosting services, security and global network services. The proposed solution and operating model will prime their Global IT Infrastructure for the future, ensuring business continuity and transformation. </li><li>Selected by a global pharmaceutical company headquartered in USA, to enhance and transform their end user experience through TCS’ futuristic Digital Workplace Services Solution that is based on zero touch, nextgen technology and experience-focused services. TCS’ intuitive, immersive and intelligent UX solution, leveraging MFDM™-based service delivery, cognitive automation capabilities, and persona-based analytics, will deliver a hyper-personalized, reimagined experience to their customer-facing workforce. </li><li>Selected by a financial software and risk solutions to render digital workplace services on a hybrid cloud solution leveraging a leading public cloud platform and TCS Enterprise Cloud Platform. TCS’ Machine First design, leveraging automation and chatbots, security and support services, will result in improved customer experience, reduced onboarding timelines and higher user productivity. </li><li>Chosen by a US-based global fashion retailer to improve the customer experience and drive online business growth by implementing a leading enterprise CRM platform with a Machine First approach leveraging chat bots for enhanced response times and enriched contextual customer conversations. TCS will also drive the consolidation of multiple contact centres into a single digitally enabled multi-lingual center to enable better call handling, customer up-sell and cross-sell. </li><li>Selected by a leading US-based multinational technology company, to transform its procurement operations, deployment engineering, network deployment services. TCS will leverage its Machine First approach to automate and expedite hardware deployment and procurement functions to bring in agility and efficiencies to one of the largest and widely spread global cloud operations.</li></ul>See Also: T<a href="https://www.businessinsider.in/business/corporates/news/tcs-third-quarter-earnings-1-2-dollar-revenue-growth-ceo-commentary-and-other-highlights/articleshow/73327973.cms?src=hp_ts">CS third-quarter earnings ⁠— 0.3% dollar revenue growth, CEO commentary and other highlights</a>

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TCS bags USD 1.5 bn contract from Walgreens Boots Alliance

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