TCS gains on deal with Marks & Spencer for transforming latter's HR function

Tata Consultancy Services (TCS) rose 1.22% to Rs 3153.95 after the company said that it had helped Marks and Spencer (M&S) digitally transform its HR function and align its future business goals and HR strategies.

M&S was looking to adopt innovative technology solutions to enable simpler and harmonised business operations and HR processes, and offer world-class employee experiences.

TCS has been a strategic partner to M&S for over a decade and has played a key role in numerous business critical technology and transformation programmes. The retail giant chose TCS to drive its HR transformation journey as well. TCS consultants leveraged their deep contextual and functional expertise to design business processes and experiences aligned to the needs and expectations of today's workforce.

As part of the programme, TCS migrated 27 million records of M&S employees working across 1,450 locations in the UK, and enabled seamless, secure data connects across the landscape.

Abhijit Niyogi, vice president and business unit head - Retail UK & Europe, TCS, said: "We are delighted to have partnered with Marks and Spencer in their digital transformation journey to successfully build a future-ready workforce solution. The new HR solution is better aligned with the business and leverages their Digital First philosophy to drive leaner, more resilient operations, elevating the colleague experience and supporting M&S' future growth."

Tata Consultancy Services is an IT services, consulting and business solutions organization. It offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions.

The company reported 4.5% fall in consolidated net profit to Rs 9,478 crore despite a 4.3% rise in revenue from operations to Rs 52,758 crore in Q1 FY23 over Q4 FY22.

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