Tata Consultancy Services (TCS) has secured a five-year renewal and expansion of its contract with Weatherford International (NASDAQ: WFRD), a multinational oilfield service company headquartered in North America.
Under this extended agreement, TCS will leverage its expertise in automation, artificial intelligence, and digital optimization to drive enterprise-wide business transformation initiatives for Weatherford. The partnership will focus on enhancing operational efficiencies across critical domains such as finance, supply chains, and human resources.
TCS plans to introduce advanced AI-driven solutions to streamline Weatherford's finance and accounting processes, reduce costs, and improve scalability. Additionally, TCS' advisory capabilities will support Weatherford in simplifying workflows, fostering innovation, and enabling outcome-based strategies aimed at maximizing agility and long-term financial resilience.
This renewed collaboration builds on seven years of a trusted partnership, during which TCS spearheaded transformative improvements in shared services. Notably, these efforts have resulted in around 50% reduction in Weatherford's total cost of ownership across mission-critical operations.
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