In a further push to its non-linear strategy, TCS has bagged a multi-year outsourcing deal from Scandinavian Airlines (SAS).
According to the deal, SAS will adopt finance and accounting (F&A) platform of TCS for its operations across 30 countries.
This platform provides pre-built and pre-configured financial processes, tools, similar to buying software off-the-shelf, which is being increasingly considered by companies to increase efficiency and speed of implementation.
It will be provisioned through a Cloud computing model including infrastructure, applications, IT maintenance and multiple platform developments over the duration of the engagement. TCS did not divulge the value of the deal.
The platform is also designed to conform to the latest global statutory and legal norms such as IFRS and GAAP.
SAS is the Scandinavian region’s largest airline and is considered the most punctual airline in Europe. Analysts consider this deal to be another push into the non-linear strategy pursued by TCS.
“Revenue from travel and hospitality has grown by 3 per cent in the first quarter of 2013 over the previous quarter and 28 per cent compared to the same period during FY12. This non-linear strategy involves the setting up of a platform for a particular vertical (e.g. airlines) and replicating it for others across other geographies.
TCS will be paid by SAS on accuracy, timeliness and financial gains that SAS accrues over the duration of the deal.
“The TCS F&A platform, with its metrics-driven delivery model, will assure SAS of accuracy, timeliness and total control over its financial processes,” said Mr Raj Agrawal, Global Head of TCS Platform Solutions.
TCS has presence in the Nordic region with over 4,500 professionals working across Sweden, Finland, Norway, Denmark and Iceland.