Covansys bags $83 Million outsourcing contract from Sirva

By SiliconIndia   |   Wednesday, 18 September 2002, 07:00 Hrs
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FARMINGTON HILLS: Covansys Corporation (Nasdaq: CVNS - News), a global consulting and technology services company today announced that they have been awarded an $83 million outsourcing project by Sirva, a global business services leader.

Headquartered in Naperville, IL, Sirva is the world's most comprehensive provider of relocation services and logistics solutions for high value products.

Under the terms of the contract, Sirva will outsource selected applications development and maintenance, as well as project management, to Covansys. Covansys expects to receive $83 million in revenues over a 10-year contract term.

"Our partnership with Covansys is consistent with our long-term strategy to significantly decrease our non-core IT spending, while at the same time enhancing the level of customer service," said John Dupuy, senior vice president of Corporate Initiatives for SIRVA. "Information technology is a critical part of the customer value proposition in all of our businesses, and we undertook an exhaustive, nine month process to identify the most effective company for the job. We look forward to a mutually rewarding relationship with Covansys."

"Nothing underscores the leadership and expertise of the Covansys outsourcing practice better than the fact that we have been chosen to work with Sirva, an industry leader, on such an important project," said Marty Clague, Covansys president and COO. "We compliment Sirva for their foresight in considering outsourcing as a strategic initiative for savings and growth."

Sirva expects to reap immediate first year cost savings, in addition to long-term savings of over 20%. Sirva's ability to ramp services up or down provides them with added project flexibility. This benefit is due to Covansys' unique, blended onsite/offshore outsourcing model which allows for seamless operations 24 hours a day, 7 days a week.

Covansys has a decade-long track record of success in managing outsourcing for more than four-dozen top companies, including Ford Motor Company and Henry Ford Health Systems.

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