HCL Technologies and Xerox sign $1.3bn shared services deal to drive operational transformation
HCL Technologies has signed a $1.3bn agreement with Xerox to manage part of its shared services, including administrative and IT functions.
The seven-year agreement builds upon the strong Xerox-HCL relationship that the companies have developed over the past decade.
“This is a win-win agreement,” said C Vijayakumar, President and Chief Executive Officer, HCL Technologies.
“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.”
As part of the existing agreement between the companies, HCL manages some of Xerox’s mechanical, electrical and software engineering activities for printer and imaging product lines.
Together, the companies have delivered 215 US patents and created R&D labs.
“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.
“We selected HCL as our partner for this strategic initiative due to our successful track record together thus far and our shared values.”