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4-Traders Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Tata Consultancy Services Limited    TCS   INE467B01029

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Tata Consultancy Services Limited : TCS’ F&A platform to ensure on-time accounting for SAS, Europe’s most punctual airline

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07/18/2012 | 05:05am CEST
Press Release

TCS announces that it has entered into a multi-yearagreement with Scandinavian Airlines (SAS), wherein SAS will adopt TCS' Finance & Accounting (F&A) platform for its operations across 30+ countries. Founded in 1946, SAS is the Scandinavian region's largest airline and holds the reputation of being Europe's most punctual airline.

  • Scandinavia's largest airline will adopt TCS' proven cloud-based Finance & Accounting platform
  • Multi-year agreement to improve productivity of processes across SAS' 30+ country operations

Stockholm, July 17, 2012: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced that it has entered into a multi-yearagreement with Scandinavian Airlines (SAS), wherein SAS will adopt TCS' Finance & Accounting (F&A) platform for its operations across 30+ countries. Founded in 1946, SAS is the Scandinavian region's largest airline and holds the reputation of being Europe's most punctual airline.

"The selected TCS platform addresses the key objectives SAS defined from the project's inception - to simplify, standardize and automate processes with one solution instead of multiple solutions, as well as to integrate best practices and drive productivity improvements. Additionally, TCS' experience with large scale strategic projects and the partnership-based approach towards their customers was especially appealing to us," said Håkan Borglund, Vice President Back Office Systems, SAS Group.

The agreement underscores TCS' non-linear growth strategy in key markets. TCS' F&A platform provides pre-built and pre-configured financial processes and tools, which make it an efficient and rapid solution to implement. It will be provisioned under a Cloud model including infrastructure, applications, IT maintenance and multiple platform developments over the duration of the engagement. The platform is designed to conform to the latest global statutory and legal norms, such as IFRS and GAAP.

"SAS is renowned for being the most punctual airline in Europe. TCS' F&A Platform, with its metrics-driven delivery model, will assure SAS of accuracy, timeliness and total control over its financial processes. We look forward to working with SAS and providing them the benefits of an industry leading solution that is enriched by our global best practices," said Raj Agrawal, Global Head, TCS' Platform Solutions.

TCS' Nordic operations comprise over 4,500 professionals working across Sweden, Finland, Norway, Denmark and Iceland. TCS had recently been recognized by a KPMG surveyof 340 top Nordic companies as the #1 company in terms of customer satisfaction for the third consecutive year.

"One of our defining values is to help customers lead change. We have been advising over 75 clients toward the evolution of their cloud strategies and helping them stay ahead of the curve in their industries. SAS' choice reconfirms the findings from TCS' 2012 cloud adoption studyof over 600 large global companies, which concluded that the needs to standardize business operations and underlying applications along with flexibility are the two most significant drivers for cloud adoption," saidAmit Bajaj, Head, Nordic and Baltic Region, TCS.

About SAS Scandinavian Airlines
SAS Scandinavian Airlines is Northern Europe's leading airline with almost 700 daily flights to close to 100 destinations in Scandinavia, Europe, the US and Asia. SAS offers a wide range of innovative travel solutions in order to make customers' travel as time efficient and smooth as possible. SAS is also Europe's most punctual airline for the third year in a row. For more information, please see: www.sasgroup.net .

About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India's largest industrial conglomerate, TCS has over 243, 000 of the world's best-trained consultants in 42 countries. The company generated consolidated revenues of US $10.17 billion for year ended March 31, 2012 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. www.tcs.com.

TCS Media Contacts:

Global:
Email: pradipta.bagchi@tcs.com
Phone: +91 22 6778 9999

Europe / UK:
Email:
abhinav.kumar@tcs.com
Phone +32 22821927

UK:
Email: ashish.babu@tcs.com
Phone:
+44 078 418 92227

India:
Email: h.ramachandra@tcs.com | shamala.p@tcs.com
Phone: +91 22 6778 9078 | +91 22 6778 9081

USA / Canada:
Email: m.mccabe@tcs.com
Phone: +1 646 313 4594

Asia Pacific:
Email: sean.davidson@tcs.com
Phone: +65 9139 3668

Nordic Region:
Email: suzanna.abarca@tcs.com| jan@northernlinkpr.com
Phone: +46 701 043 747 | +46 707 160 68

Denmark:
Email: mikkel@morsingpr.dk
Phone:

SAS Scandinavian Airlines Media Contact:

Global:
Email: anders.lindstrom@sas.se
Phone: +46 709 97 3394

# # #

+45 61 30 33 82
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Financials ( INR)
Sales 2017 1 219 152 M
EBIT 2017 320 383 M
Net income 2017 264 376 M
Finance 2017 148 453 M
Yield 2017 1,92%
P/E ratio 2017 18,72
P/E ratio 2018 16,90
EV / Sales 2017 3,94x
EV / Sales 2018 3,42x
Capitalization 4 955 823 M
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Natarajan Chandrasekaran CEO, Non-Independent Executive Director & MD
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K. Ananth Krishnan Chief Technology Officer
Aman Som Mehta Independent Non-Executive Director
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