M&S Extends its Partnership with TCS as it Reshapes for Growth and Value Creation

M&S Extends its Partnership with TCS as it Reshapes for Growth and Value Creation.

Tata Consultancy Services to Help the Retailer Modernise its Core Business Systems with a Cloud-First and Composable Platform Strategy and Enable Continuous Innovation

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has extended its partnership with Marks and Spencer plc (M&S), to transform the latter's core technology stack, improve resilience and pace of innovation, and drive sustainable growth.

TCS has been a strategic partner to M&S for over a decade, helping the retailer drive numerous business-critical transformation programmes, including its journey to become a digital-first enterprise. In the next phase of this partnership, TCS will simplify M&S' technology landscape and modernise its core business systems with a cloud-first and composable platform strategy. Leveraging its engineering talent and practices, TCS will help drive a culture of futuristic thinking and continuous innovation.

The modernisation program will help M&S reduce technical debt, improve time to market and enhance scalability. Additionally, the transformation into a simple, agile, data-led business will accelerate M&S' strategic priorities of delivering superior customer experience, driving online growth, leading in omnichannel and sustainability, modernising its supply chain, and expanding its global reach.

'As we move into the next phase of our transformation to reshape M&S for growth and value creation, we are delighted to expand our partnership with TCS. Together, we pivoted M&S to a digital-first business and achieved key business outcomes such as growing dotcom, driving loyalty through Sparks and realising significant cost and productivity efficiencies. Their industry advisory capabilities will help us accelerate the pace of business transformation to achieve our goals of significantly increasing our active app userbase, doubling online sales volume, and building an efficient, resilient supply chain network by driving down technology debt, enabling faster time to market, and infusing innovation momentum for growth and value creation,' Katie Bickerstaffe, Joint Chief Operating Officer, M&S PLC.

'This transformation to a simple, fast, brilliant engineering-led value delivery model is essential for our business. TCS is the partner of choice given their deep contextual knowledge, best-in-class engineering talent and deep innovation capability,' Jeremy Pee, Chief Digital and Technology Officer, M&S PLC.

'As the long-standing transformation partner of M&S, we are fully vested in their purpose and belief that a simplified organisation with a culture of customer centricity and continuous innovation will help them drive sustainable growth in market share, sales, and profit. We are truly delighted to continue and enhance our relationship with them. Our priority is to modernise key enablers and build a high-performance culture that can unlock growth by harnessing the power of their global brand,' Shankar Narayanan, President, Retail Cluster, TCS.

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 50 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 613,000 of the world's best-trained consultants in 55 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' 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

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