Indian IT giant Tata Consultancy Services has signed multiple partnerships with European companies. While it has a partnership with the Council of Europe Development Bank (CEB) to streamline the bank’s complex transactions, it has signed another partnership deal with Denmark’s Salling Group to drive the digital transformation of its 2100 stores.
Partnership with Council of European Development Bank
The Council of European Development Bank is a leading European bank with a special focus on social sectors such as healthcare, education, and affordable housing. The bank has an exclusively social mandate from its 43 member countries. In the newly inked partnership, TCS is onboarded to modernize the bank’s operations to increase efficiency.
According to a statement by TCS, the company will use its proprietary BaNCS for Reconciliations to automate the bank’s entire reconciliation lifecycle, such as transaction matching and exception handling. The automation will reduce the turnaround time and manual work.
“With the deployment of TCS BaNCS, the CEB will be able to gain significant efficiency in operations, which gives the Bank the ability to operate on a higher scale.” Venkateshwaran Srinivasan, Global Head, Financial Solutions of TCS, said in a statement.
“We continue to invest in products to help our clients enhance efficiency, improve customer experience and be future ready”, Srinivasan added.
Partnership with Salling Group
In another deal, Tata Consultancy Services partnered with the Salling Group of Denmark. The Danish company operates franchises of multiple companies, from quick service restaurants to grocery stores and toy stores. In total, the group operates 2100 stores in Denmark, Poland, Germany, Estonia, Lithuania, and Latvia.
TCS has partnered with the Salling Group to ramp up its digital operations. Starting with speeding up the company’s cloud adaptation, TCS will be working to enhance the e-commerce platforms of Salling Group. The partnership is aimed at driving the scalability and agility of Salling Group’s digital operations by employing AI-enabled automation.
Vikram Sharma, Country Head, TCS Denmark, said, “We will bring our global retail experience and technical prowess to help Salling Group build resilience and unlock new technologies to help drive their strategic goals.”