HCL to Accelerate Operational Transformation
HCL Technologies has signed a managed services agreement with Xerox (NYSE: XRX) to manage the latter’s portions of shared services globally, resulting in greater operational efficiency, automation and enhanced service levels.
The services include global administrative and support functions, selected information technology and finance functions (excluding accounting).
Leveraging HCL’s global scale and capabilities, Xerox will strategically evolve its shared services into process-first, technology-led digital operations.
This seven-year agreement for an incremental US$1.3 billion continues to build on the success of the Xerox-HCL relationship, which began in 2009 with product engineering and support services.
Under that agreement, HCL currently manages aspects of Xerox’s mechanical, electrical and software engineering activities for printer and imaging product lines.
Together, HCL and Xerox have delivered 215 U.S. patents and have created world-class R&D labs that are tightly integrated with Xerox infrastructure and standards.
“This expanded partnership is a testament to the strong Xerox-HCL relationship that has grown through multiple collaborations over the past 10 years,” said C Vijayakumar, President and Chief Executive Officer, HCL Technologies.
“This is a win-win agreement. Xerox will benefit from our global scale, best-in-class processes and investments in artificial intelligence, robotic process automation and transformation tools, and HCL will benefit from a long-term agreement to provide product support and administrative services to Xerox,” he said in a release on 19 Mar 2019.
“The evolution of our shared services represents our culture of continuous improvement and allows us to more efficiently address customer needs while delivering significant cost savings to reinvest in the business,” said Steve Bandrowczak, President and Chief Operations Officer, Xerox.
As part of the agreement, a group of Xerox employees will transfer to HCL (subject to compliance with European works council consultation and employment regulatory requirements). The employees who are transferring to HCL will have an opportunity to be part of a leading global technology company. fiinews.com
