HCL Technologies signs a new large 5-year Applications Support transformation deal with Deutsche Bank
HCL chosen to improve efficiencies through transformational initiatives including LEAN programme
London, Frankfurt, Paris, Stockholm, Noida, India, September 21st, 2011 – HCL Technologies Ltd. (HCL), leading global IT services providers, today announced that it has signed a strategic 5-year, Application Support Transformation deal with Deutsche Bank's Capital Markets arm.
The service factory delivery model implemented by HCL is expected to significantly enhance productivity, driven by transparent Service Level Agreements (SLAs) and performance metrics, and comes as Deutsche Bank endeavors to move away from a traditional applications support model to a set of unique process driven services governed by global standards like Information Technology Infrastructure Library (ITIL) and LEAN. The transformational programme, which will result in significant vendor consolidation, involves the management of key banking applications that are the backbone to the Deutsche Bank’s critical businesses.
“As HCL Technologies enters its tenth year of strategic relationship with Deutsche Bank, our engagement has evolved and matured into one of unshakeable trust. This deal is one of the significant milestones in the strategic roadmap that has been charted by the company and we are delighted to continue along this journey with Deutsche Bank,” said Parag Samarth, Executive Vice President, Strategic Accounts, HCL Technologies.
“Leading global banks are looking for ways to improve their application product management, in order to increase efficiency and enhance productivity. As part of this development, key processes have to be transformed throughout the organization and hence the choice of partner becomes crucial. The Bank's association with HCL displays its belief in the delivery, skills and competitiveness of the latter." said Anshuman Jaswal, Senior Analyst at Celent.
About HCL Technologies
HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL focuses on ‘transformational outsourcing’, underlined by innovation and value creation, and offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of ‘Employee First, Customer Second’ which empowers our 77,046 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 3.5 billion (Rs. 16,034 crores), as on 30 June 2011 (on LTM basis). For more information, please visit www.hcltech.com
HCL is a $6 billion leading global technology and IT enterprise comprising two companies listed in India - HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing, HCL is a global transformational enterprise today. Its range of offerings includes product engineering, custom & package applications, BPO, IT infrastructure services, IT hardware, systems integration, and distribution of information and communications technology (ICT) products across a wide range of focused industry verticals. The HCL team consists of over 85,000 professionals of diverse nationalities, who operate from 31 countries including over 500 points of presence in India. HCL has partnerships with several leading global 1000 firms, including leading IT and technology firms. For more information, please visit www.hcl.com
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes',' strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward looking statements made herein will prove to be accurate, and issuance of such forward looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
For More Information, Contact:
HCL Technologies, Europe
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