HYDERABAD: Stockmann Plc, a Finland-based company engaged in retail, today said it has signed a five-year cooperation agreement with Tech Mahindra to produce part of the firm's ICT services.
According to a statement issued by the Finnish company, the purpose of the long-term partnership is to increase efficiency in developing innovative ICT solutions for Stockmann's customers, lower costs, harmonise and centralise ICT (Information Communication Technology) services.
As a consequence, Stockmann will consolidate the maintenance and development of business applications and infrastructure offered by more than 20 service providers and delivered from several countries to one dedicated supplier, it said without giving any financial details of the agreement.
"At the same time, 33 of Stockmann's current ICT employees are planned to transfer to Tech Mahindra on 1 January 2017 under a business transfer agreement. The target of the planned changes is to reduce Stockmann's ICT costs by about EUR 4 million annually from 2018 onwards," it said.
Stockmann's Chief Information Officer Petteri Naulapaa said the partnership is the start of a new phase in developing ICT services at Stockmann and it will allow the company to ensure efficient production of up-to-date services to their customers in the stores as well as online.
"Tech Mahindra has deep knowledge of offering digital services to well-known retail companies worldwide, and we are glad to gain this expertise for the benefit of our customers," Naulapaa said.
Stockmann will maintain an ICT organization with about 40 employees responsible for IT portfolio management and development of business processes, applications and digital services for Stockmann's customers.
Tech Mahindra, part of the USD 17.8 billion Mahindra Group, has offices in over 100 countries and has been providing IT services in the Nordic countries for about 10 years.
The company has over 2,000 employees working for customers in the Nordic region.
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