Consultancy Services (TCS) has bagged an offshore maintenance
contract from Toyota Financial Services (TFS) of the US.
is the first time that the US operations of Toyota Financial
Services has outsourced the management and process improvement
of its legacy management system to any party outside the
is engaged in retail and wholesale financing, retail leasing
and other financial services that are offered to the authorised
dealers of Toyota and Lexus, as well as Toyota Material
Handling, US, dealers, affiliates and their customers
in the US.
president and chief executive officer George E Borst says
TCS had bagged the open-ended contract from among a total
of seven bidders. The idea behind the initiative
was not just to save on costs, but also to ensure process
enhancement and improvement. The saving in costs
for TFS on account of the outsourcing would approximately
be 50 per cent.
was chosen because it was under-budget, the company has
the capability to execute projects before time and it
has exceeded our expectations, he adds. TFS,
which has an asset base of $40 billion in the US, had
decided to outsource its major IT systems management and
allied work in the next few years.
TCS vice-president Ajoyendra Mukherjee: This contract
had vested the company with the charge of IT consulting
and maintenance programme of TFS. The entire work will
be executed out of TCSs Kolkata centre and an additional
50-60 people will be recruited for the purpose.