Xerox Signs Deal with TCS to Transform its IT Technology Using Cloud and GenAI

The deal will showcase the enterprise-wide potential of cloud and generative AI to improve business and IT service delivery

PRESS RELEASE

MUMBAI, June 21, 2024: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, has expanded its strategic partnership with Xerox with a landmark, end-to-end transformation program designed to fast track the evolution of the company to a simplified, services-led, software-enabled organization. Under the agreement, TCS will consolidate Xerox’s technology services to improve business outcomes, migrate complex legacy data centers to the Azure public cloud, deploy a cloud-based Digital ERP platform to transform business processes and incorporate generative artificial intelligence (GenAI) into operations to help drive sustainable growth.

TCS will develop a new agile, cloud-first operating model for Xerox. Leveraging the deep capabilities of its service practices such as AI.Cloud, Enterprise Solutions (including TCS Crystallus™) and Cognitive Business Operations (including TCS Cognix™), TCS will also build an AI-first enterprise platform for Xerox. These TCS capabilities will be combined with the expertise of industry partners such as leading hyperscalers and AI solution providers.

Tino Lancellotti, Chief Information Officer, Xerox, said, “This digital transformation initiative is an important enabler for reinventing our operating model to simplify our geographical, offering, and operational footprint while transforming our clients’ experience. We believe TCS is the right partner to deliver such a complex program given their proven experience both within Xerox and across the industry.”

Headquartered in the US, Xerox is a global leader in digital print technology and related solutions with a presence in nearly 145 countries. Its client base includes small and medium-sized businesses, graphic communications companies, governmental entities, educational institutions, and most Fortune 500 companies. Xerox’s shift to a cloud-first, digital services-led organization is a key milestone in its multi-year Reinvention unveiled in 2023 to transform its revenue mix and deliver sustainable profits.

V Rajanna, President, Technology, Software and Services, TCS, said, “Xerox and TCS have been on a collaboration and co-innovation journey for over two decades, which has grown from strength to strength transforming business functions from finance to HR along the way. We are now excited to partner with Xerox to support their Reinvention to create the foundation for long-term, sustainable growth by establishing the digital core leveraging cloud, AI and next-generation enterprise platforms.”

This announcement reinforces TCS’ strong presence in the US, the largest market for the organization with nearly 50,000 associates and 19 delivery centers. In the 50 years of operations in the region, TCS has established itself as a partner of choice for digital transformation by clients across industry sectors.

Amit Bajaj, President, North America, TCS, said, “Xerox's Reinvention is a bold initiative founded in the belief that a 100+ year-old organization can rapidly transform itself to be a much simpler, agile, and technology-led firm to better serve its clients. GenAI has catalyzed the next S-curve of enterprise transformation, and we are proud to be partnering with legends of American industry, such as Xerox, to go beyond use cases to realize the promise of this pathbreaking technology at an enterprise scale.”

TCS has forged significant partnerships with leading universities such as Carnegie Mellon and Cornell Tech University to fuel innovation in North America. Building on this foundation, TCS has recently set up a Bringing Life to Things™ Lab in Ohio—a state-of-the-art facility designed to support the rapid prototyping, experimentation, and large-scale implementation of AI, GenAI, and IoT engineering solutions for clients. TCS has also been the title sponsor of the flagship TCS New York City Marathon for the last 11 years.

In 2024, TCS was named in the FORTUNE® Magazine 2024 list of the World's Most Admired Companies™ for the second year in a row. Top Employers Institute has also certified TCS North America as a top employer in the region for the last nine years.

ABOUT TATA CONSULTANCY SERVICES (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 56 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 601,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $29 billion in the fiscal year ended March 31, 2024, and is listed on the BSE and the NSE in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com

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