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Asda Signs Multi-Year Partnership with TCS in Divestiture and Digital Transformation Deal

Posted On : 2023-10-04 13:09:07( TIMEZONE : IST )

Asda Signs Multi-Year Partnership with TCS in Divestiture and Digital Transformation Deal

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) announced a multi-year partnership with British retail giant Asda to support its digital transformation and to implement a new organisation-wide IT operating model, following its divestiture from Walmart.

The strategic partnership will leverage TCS' cloud, AI, and security solutions to help ASDA deliver the divestiture smoothly, on-time and securely. TCS will further enable ASDA to enhance its customer experience and innovation capabilities to help increase their market share and retain price leadership.

TCS will build a new digital core by implementing multiple cloud-based ERP platforms to streamline Asda's supply chain forecasting, buying and merchandising processes, HR processes, warehouse management, and e-commerce processes. Additionally, TCS will use its Machine First™ Delivery Model to automate the retailer's IT operations, providing a seamless experience for employees and customers, and improving operational resilience.

Mohsin Issa, Chief Executive Officer, Asda, commented: "We have a long term vision to grow Asda and bring our great heritage in value to even more communities - and our technology will form a key part of delivering this vision. We have partnered with TCS because they bring experience in retail technology transformation and innovation. We look forward to working with them to accelerate our digital transformation journey and to unlock the potential of our business."

Carl Dawson, Chief Digital & Technology Officer, Asda, commented: "We are confident that this collaboration with TCS will be one of the engines to deliver such a large technology transformation, where we are in the process of reimagining retail. TCS is going to bring together the cutting-edged technologies and help Asda employees and customers have a seamless experience."

Abhijit Niyogi, Business Head, Retail - UK & Europe, TCS, said, "We are proud to extend our partnership with Asda and look forward to working closely with them to drive this massive enterprise reinvention. We will leverage the power of data and AI, and deliver innovative, industry-leading retail technology solutions to transform their core retail operations, employee experience, supply chain and create opportunities for new business models. Leveraging TCS' deep contextual knowledge, next-gen retail technology solutions and industry experience, we will help them build a new future-ready digital stack to support their growth and transformation ambitions."

Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 3515.25 as compared to the previous close of Rs. 3530.75. The total number of shares traded during the day was 110749 in over 9261 trades.

The stock hit an intraday high of Rs. 3534.75 and intraday low of 3480.00. The net turnover during the day was Rs. 388454130.00.

Source : Equity Bulls


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