IBM, Tata Consultancy Services (TCS) and Infosys Technologies relieved with $1 Billion Dutch banking major ABN Amro
Nitin Goshwamy
Sep. 6, 2010

But the long term outlook for IT outsourcing looks bleak with price competition and lack of fe4sh new orders.

The original contract signed by ABN Amro in 2005 was worth $2 billion, spread over five years, and had five vendors — IBM, Accenture, TCS, Infosys and Patni. The bank had then aimed to save nearly $250 million every year by working with fewer vendors and consolidating its IT infrastructure.

The bank has retained IBM for managing communication networks, desktops and computer servers, and plans to reduce the number of software application outsourcing vendors to two from the current three.

TCS has already started handling incremental and new projects, and Infosys too has deep relationship with the bank, especially with Finacle. This leaves Patni and Accenture in a tight spot.

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But the long term outlook for IT outsourcing looks bleak with price competition and lack of fe4sh new orders.
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