Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, has entered into a strategic partnership with Amazon Web Services (AWS) to accelerate its customers' cloud transformation journey at scale. This new strategic transformation agreement with AWS will enable TCS to facilitate full-stack digital transformation of its customers by leveraging data and generative artificial intelligence (AI) solutions on AWS.
Through this multi-year tie-up, TCS will provide its customers with tools to create modern architectures, deliver business value using state-of-the-art cloud-native capabilities and drive modernization at scale. These include a clear cloud modernization roadmap, access to modernization platforms and tools, exclusive investment models and technology betas, and proof-of-concept (POC) projects. The customers selected for this program are globally distributed across all verticals, particularly within banking and financial services, life sciences, healthcare, travel, transportation, hospitality, manufacturing, automotive, and communications and telecom.
Matt Garman, Senior Vice President of Sales, Marketing, and Global Services, AWS, said, "At AWS, we are excited to expand our strategic partnership with TCS, a globally recognized leader in IT services. Together with AWS's comprehensive suite of generative AI and modernization services, along with TCS' domain expertise and global delivery capabilities, our customers will benefit from accelerating their enterprise transformation. By upskilling 25,000 TCS professionals, we are committed to addressing the evolving needs of our customers through innovative solutions to accelerate their modernization journey."
While cloud modernization can lend organizations next-gen capabilities, they are comprehensive and require converting, rewriting, or porting legacy systems to modern technology platforms. The initiative by TCS and AWS is focused on removing these barriers and realizing faster time-to-value. It offers customers a unique opportunity to leverage AWS's cutting-edge technologies and TCS' contextual knowledge and ability to build branded intellectual property (IP) on AWS. TCS is uniquely positioned to lead large-scale continuous modernization with a deep understanding of customers' domains. This includes significant investment in industry platforms. As part of this collaboration, AWS will support TCS in upskilling and certifying 25,000 members of its workforce on AWS, creating a modernization champion team with modernization specialists.
Krishna Mohan, Deputy Head, AI.Cloud Unit, TCS, said, "We are excited about the unique value proposition that our clients will have access to, through this agreement between TCS and AWS to take advantage of TCS' contextual knowledge.. It offers an opportunity to drive significant value by accessing innovative technologies such as generative AI and modernization at scale for our clients globally. This agreement also represents the continuing progress of our strong collaboration with AWS, including being awarded the AWS Global System Integrator (GSI) Partner of the Year - Global at AWS re:Invent 2023, and we look forward to deepening our strategic ties with the hyperscaler to bring further innovation to our clients."
This initiative reinforces the strategic ties between TCS and AWS. TCS is an AWS Premier Consulting Partner with more than a decade-old strategic partnership with the hyperscaler. TCS and AWS offer a comprehensive suite of services, including cloud migration, application modernization, data analytics, and AI-powered solutions.
Susheel Vasudevan, Business Group Head, BFSI - Americas, TCS, said, "In Financial Services, many of the customers have embarked on the Cloud journey a few years back and established a strong Cloud foundation, and now looking to take the core systems to the cloud to drive the business value. This agreement with AWS, focused on modernization and tailor-made value propositions with the combined power of TCS and AWS, will accelerate this core modernization journey on the cloud and deliver tangible business benefits."
TCS received multiple recognitions in the 2023 AWS Partner Awards including - the Global System Integrator (GSI) Partner of the Year - Global, GSI Partner of the Year - France, as well as a Finalist in four other significant categories for its role in helping customers drive innovation. TCS is an AWS Premier Tier Service Partner and holds several AWS specializations and validated qualifications including membership in the AWS Premier Tier Service Partner Program, AWS Managed Service Provider, AWS Public Sector Partner Program, AWS Solution Provider Program, AWS Well-Architected Partner Program, and over 38 AWS Competencies and Service Validations.
Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 3831.25 as compared to the previous close of Rs. 3874.20. The total number of shares traded during the day was 38530 in over 3175 trades.
The stock hit an intraday high of Rs. 3896.00 and intraday low of 3824.15. The net turnover during the day was Rs. 148588183.00. |
