TCS, Xerox join forces for IT transformation using cloud, GenAI
Tata Consultancy Services (TCS) has announced a strategic partnership with Xerox to revolutionize the latter's IT infrastructure, using cloud and Generative Artificial Intelligence (GenAI). The collaboration aims to consolidate Xerox's technology services for improved business outcomes. TCS plans to migrate complex legacy data centers to the Azure public cloud, deploy a cloud-based digital ERP platform to transform business processes, and incorporate GenAI into operations to promote sustainable growth, the company said in a stock exchange filing.
Aim to drive sustainable growth for Xerox
TCS plans to create a new agile, cloud-first operating model for Xerox. "Leveraging the deep capabilities of its service practices such as AI Cloud, Enterprise Solutions and cognitive business operations, TCS will also build an AI-first enterprise platform for Xerox," the company said.
TCS shares rise following partnership announcement
Following the partnership announcement, TCS shares saw a rise of 1.87% to ₹3,858.1 each earlier today. The overall IT stocks, including TCS, experienced gains after Accenture's positive results the previous evening. Accenture reported a 26% surge in its new bookings to over $20 billion and narrowed its guidance band for the financial year 2024 to 1.5-2.5% from their earlier guidance of 1-3%.
