Will The Tie-Up Between Verizon And HCLTech Reshape The Managed Services Industry?

Hi, I’m trying to get in touch with an executive to clarify some problems I’m having with your platform but I can’t get through!

No business owner or manager would ever want to hear this from a customer.

Customer service has become the call of the day (pun intended!) and it now extends beyond customers calling to resolve the issues they face.

Let’s take a simple example: food. Typically, fast food joints require you to exert yourself through the process, while fine-dining restaurants provide a more thorough service. That’s what managed service is all about; making it a brilliant experience for the end user.

As businesses look to scale up, they realize that it’s easier to partner up with companies that specialize in offering managed services.

In that regard, American multinational telecommunications conglomerate, Verizon, through its subsidiary, Verizon Business, has tied up with India-based HCLTech for managed services.

What does the deal entail? Let’s explore:
 

What Are The Details Of The Partnership?

 

• Verizon Business (USA) and HCLTech (India) have signed a strategic global deal.

• The deal is reported to run for 6 years and is believed to be valued at $2.1 billion.

• According to the partnership, HCLTech will provide Verizon Business with Managed Network Services (MNS) for its global enterprise customers.

• HCLTech will be the primary collaborator for all global MNS deployments.

• The partnership will bring in best-in-class managed network services, data-driven service models, a highly digitized experience, better lifecycle management, efficiency, an easy-to-use interface, joint innovation, among more benefits.

 

What Will The Partnership Include?

 

• All will run as usual for Verizon Business, as they continue leading all customer acquisitions, sales and solutions along with the overall planning and development with its customers.

• HCLTech will come in as the leader of post-sale implementation and ongoing support.

• Both companies released a joint statement that conveyed that the partnership would blend Verizon’s expertise in networking, solutions and scale with HCLTech’s Managed Services capabilities, which will usher in a new era of large-scale wireline service delivery for enterprise customers.

• Speaking on the same, a release by HCLTech said, "The partnership will offer customers a best-in-class MNS portfolio, a highly digitised experience with data-driven service models, enhanced efficiency and lifecycle management with frictionless interface, a broad end-to-end partner ecosystem, and joint innovation on an integrated platform."

• In a bid to “execute the tightly coordinated balance of responsibilities at enterprise scale", staff from Verizon’s side will transition to HCLTech.

   

What Did Both Companies Say About The Partnership?

 

• "We're proud to collaborate with Verizon Business to lead MNS in all of their network deployments, modernisation and operations for private enterprise," said C Vijayakumar, CEO and Managing Director of HCLTech.

• HCLTech said, "HCLTech is pleased to announce the signing of a new mega deal with a Global 100 corporation today. We expect this deal to have a positive revenue impact over the next six years beginning in November 2023 with an estimated new total contract value of $2.1 billion over the term."

• Kyle Malady, CEO of Verizon Business, said, "HCLTech is a widely recognised industry leader for Managed Network Services, and with their IT service expertise and ongoing support of our enterprise networking deployments, Verizon Business can modernise our service delivery and simultaneously heighten our focus on helping customers incorporate next-generation technology like 5G, SD-WAN and SASE into their operations and their own customer offerings."

 
This partnership between two industry leaders might act as the catalyst for more such partnerships in the future as managed services remain an integral part of providing exceptional customer experiences.

What do you think of this partnership? Do you think we could expect more such power tie-ups soon?
Let us know in the comments below!