- 19 Jul 2022
- ICICIdirect Research
HCL Tech signs multi-year deal with DSMHCLTECH - 1081 Change: -2.45 (-0.23 %)
News: HCL Tech informed the stock exchanges that it has signed a multi-year deal with DSM. DSM has multiple businesses spanning across animal nutrition & heath, human nutrition, food & beverages, etc. The scope of work for HCL Tech includes modernisation of DSM’s core IT systems and cloud transformation. HCL’s Fenix 2.0 digital execution framework will drive best practices and accelerate transformation at scale across DSM’s business units and product lines. Through harnessing next-generation automation and analytics, HCL plans to enhance IT service delivery for ~18,000 end users across 200 sites in more than 50 countries.
Views: Healthcare is the third largest vertical for HCL Tech after financials and manufacturing at 16% of its revenues mix. This vertical has been growing strong at 18-19% CC growth on YoY basis for last six to seven quarters. This deal would help accelerate the growth momentum of its healthcare vertical . The press release also indicates the vendor consolidation at DSM’s business wherein HCL Tech would be a sole integration partner now vs. multiple vendor landscape earlier, which bodes well for the company.