Tata Consultancy Services (TCS) announced a strategic technology partnership with U.K. retailer Marks and Spencer plc. (M&S) to enable the retailer become a digital-first business.
As part of the deal, TCS would be M&S’s principal technology partner and help drive agility, intelligence, innovation and efficiency to transform the retailer’s customer experience and drive growth of M&S’ business. TCS did not disclose the value of the deal.
Commenting on the deal, M&S CEO Steve Rowe said, “This new partnership will bring the best of TCS capabilities to M&S. We will join our expertise to unlock the potential for technology to drive our digital-first transformation and accelerate growth of our business. Through our Technology Transformation Programme, our business will be faster, simpler and more focused on achieving a seamless customer experience.”
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TCS’s long-standing partnership with M&S has helped build a strong contextual knowledge of their business, according to Rajesh Gopinathan, MD and CEO, TCS.
“This is coupled with our deep domain expertise, positioning TCS to be the principal technology partner to M&S. TCS will help the customer adopt a digital-first mindset to win new customers and create growth at accelerated pace,” he said. We look forward to working even more closely with M&S as they embark on this transformation of their business,” said Mr. Gopinathan. TCS had earlier announced a $2-plus billion contract win from American insurer Transamerica.
As part of M&S’ five-year plan to transform its business, the retailer aims to make its technology function deliver more commercial opportunities, said a company statement adding that 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.
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TCS shares on BSE closed 0.9% down at ₹2,747.2 in a firm Mumbai market on Monday.