Share News: As soon as the market closed, Tata Group company gave a big update

News Topical, Digital Desk : Tata Group's leading IT company Tata Consultancy Services (TCS) informed after market close on Monday that the Council of Europe Development Bank has partnered with TCS to transform Reconciliation Processes. The company said in an exchange filing, "A global leading company in IT services, consulting and business solutions has partnered with the Council of Europe Development Bank (CEB), aimed at modernizing the bank's operations and achieving greater efficiency."

Under this agreement, TCS will implement BaNCSTM for Reconciliations to simplify the bank's complex transaction processes and automate key reconciliation processes through artificial intelligence (AI) and automation. The implementation of TCS BaNCS for Reconciliations will enable CEB (Council of Europe Development Bank) to automate the entire reconciliation lifecycle.

Agreement with Salling Group

Earlier, the company had said in an exchange filing, "The company has entered into a long-term strategic partnership with Salling Group aimed at improving sustainability, tech innovation and organizational efficiency." The partnership will cover Salling Group's 2,100 stores, various brands and its 68,000 employees in Denmark, Poland, Germany, Estonia, Lithuania and Latvia. The company said in the information given to the exchange that under this partnership, TCS (Tata Consultancy Services) will help Salling Group in its journey to adopt cloud and subsequently stabilize its operations to achieve greater agility, expansion capability and stability. Additionally, TCS will also assist in the digital transformation of this retail group, with a particular focus on advancing its e-commerce platform.

Stock Performance

On Monday, the company's stock closed at Rs 3,496.20 with a gain of 1.47 percent. In the last one year, the company's stock has seen a decline of 8.36 percent.