The Hindu Business Line : TCS inks services pact with AGL Energy

Mumbai, Aug. 20 Tata Consultancy Services (TCS) has inked a $16-million (Rs 66 crore) IT services agreement to manage and support SAP applications for the Australian retailer of gas and electricity AGL Energy Ltd.

The five-year agreement covers both AGL’s existing SAP ERP system and the SAP industry solution for utilities that is currently being implemented.

Currently, the energy and utilities vertical of TCS services over 30 customers worldwide.

“The decision to outsource our applications management and upgrade our systems is in line with AGL’s strategy to streamline business operations and offer a competitive service,” said Mr Paul Anthony, Managing Director of AGL.

Cost-saving

He also told an Australian news service that the engagement with TCS would enable AGL to save an approximately $12 million per year.

It will also assist the company to reduce the number of full-time employees engaged in IT support from more than 300 to about 20, Mr Anthony was quoted as saying.

AGL Energy is the largest Australian gas and electricity retailer, with over six million customers.

Listed on the Australian Securities Exchange, the company has a market capitalisation of about A$7billion (around Rs 22,500 crore).

The TCS scrip was down by 0.15 per cent and closed at Rs 1,054.55 on the BSE on Monday.

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