IMF expected to offshore back office work to TCS

Mumbai: Tata Consultancy Services (TCS) is in the last stages of finalising a multi-million outsourcing contract with the International Monetary Fund (IMF). Under the deal, the IMF will offshore some of its back-office work to the Indian company.

A deal is expected to be announced in the next couple of weeks. The exact size of the contract could not be confirmed.

The IMF is believed to be developing an internet protocol-based network and TCS is expected to lend its expertise on it.

TCS is also believed to be doing its back-office operations for the international lender and is likely to set up a new wing for the IMF's operations.