Xerox Signs Digital Transformation Deal with Tata Consultancy Services (TCS)

New Delhi, Mumbai, New York | September 13, 2023

Xerox Holdings Corporation (NYSE: XRX), a leading provider of workplace technology and document management solutions, has entered into a multi-year agreement with Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting, and business solutions organization, to transform its technology infrastructure.

Under the agreement, TCS will leverage its deep expertise in cloud computing, artificial intelligence (AI), and automation to modernize Xerox's technology landscape. The partnership aims to enhance efficiency, reduce costs, and accelerate innovation within Xerox's operations.

Accelerating Digital Transformation with Cloud and AI

The digital transformation initiative will focus on leveraging cloud computing to provide greater agility, scalability, and cost optimization for Xerox. TCS will migrate Xerox's key applications and infrastructure to the cloud, enabling the company to access on-demand computing resources and pay only for what it uses.

Additionally, TCS will implement AI and automation solutions to enhance Xerox's customer experience, streamline operations, and improve decision-making. AI-powered analytics will provide Xerox with actionable insights into customer behavior, market trends, and operational performance.

Building a Modern, Connected Enterprise

TCS will also implement TCS Connected Universe, its comprehensive platform for digital workplace transformation. Connected Universe will provide Xerox with a unified and personalized user experience across all its digital touchpoints. This includes seamlessly integrating Xerox's collaboration tools, communication channels, and business applications into a single, cohesive ecosystem.

The partnership will enable Xerox to improve employee productivity, foster innovation, and enhance collaboration both internally and with its customers.

Strengthening Xerox's Competitive Edge

The digital transformation initiative is expected to significantly enhance Xerox's competitive advantage in the increasingly digital workplace. By leveraging the latest cloud, AI, and automation technologies, Xerox aims to:

Improve operational efficiency and reduce costs
Enhance customer experience and satisfaction
Gain actionable insights into customer behavior and market trends
Accelerate innovation and bring new products and services to market
Attract and retain top talent in a competitive labor market

"We are excited to partner with TCS to transform our technology infrastructure and drive our digital transformation journey," said Steve Bandrowczak, President and CEO of Xerox. "TCS's deep expertise in cloud, AI, and automation will help us to become a more agile, efficient, and innovative organization."

"We are delighted to work with Xerox and support their digital transformation journey," said Rajesh Gopinathan, CEO and Managing Director of TCS. "Our comprehensive portfolio of services, combined with our deep domain knowledge, will enable Xerox to unlock the full potential of cloud computing and AI."

About Xerox

Xerox Holdings Corporation makes every day work better. We are a workplace technology company building and integrating software and hardware for companies of all sizes. Our technology, software, and people improve the way the world works. Learn more at www.xerox.com.

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 55 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology, and engineering services and solutions. This 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 566,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2023. TCS is committed to building a better future by giving back to the local communities where it operates, globally. TCS's 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.