HCL enters into a shared service arrangement with Xerox to provide certain administrative functions
HCL Technologies has entered into a shared services arrangement with Xerox Corporation to provide certain global administrative and support functions.
The transaction revenue over the course of seven years will be 1.3 billion dollars (about Rs 9,000 crore).
HCL is expected to make certain up-front and ongoing investments in software, tools and other technology to consolidate, optimise and automate the transferred functions with the goal of providing improved service levels and significant cost savings to Xerox.
The functions will include selected information technology and finance functions excluding accounting, HCL informed stock exchanges in regulatory filings late on Monday.
The deal is subject to compliance with European works council consultation and employment regulatory requirements.(ANI)
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