EDS Signs More Than $270 Million in Business Contracts
-- WITH LOGO -- TO BUSINESS AND TECHNOLOGY EDITORS:
Broad Business Process Outsourcing Portfolio Helps Financial Services, Consumer and Retail Industries Clients Integrate, Streamline Repeatable Processes
PLANO, Texas, Dec. 17 /PRNewswire-FirstCall/ -- EDS (NYSE: EDS) signed more than $270 million in Business Process Outsourcing contracts since late September, one of the fastest growing segments of the services market. The contracts cross four industries -- manufacturing, media and entertainment, financial services, and consumer and retail. Services are concentrated in the financial transaction processing and customer relationship management (CRM) segments.
According to the EDS/IDC Custom Market Size and Growth Forecast, the market for BPO services is estimated to be $241 billion in 2004, growing at a compound annual growth rate of 9 percent through 2006. EDS' global presence, scalable and agile infrastructure, and broad portfolio of business process outsourcing and other solutions help clients worldwide streamline operations, improve customer service and manage costs related to these non-core business processes.
"EDS is building significant momentum in BPO product and service development and delivery," said Guillermo (Gil) Marmol, division vice president, Business Process Outsourcing, EDS. "Our more than 40 years of industry, process and technology know-how uniquely qualifies EDS to provide clients a full scope of business process and other outsourcing services so they can increase competitiveness and focus on their own strategies."
Additionally, IDC recently classified EDS as a CRM services market leader and innovator in its November 2003 "Worldwide CRM Services Competitive Analysis, 2003: Profiles of Leaders and Innovators."
Financial Transaction Processing and CRM Contract Highlights
New contract signings, not previously announced, include:
-- A three-year contract renewal with Greenwich, Conn.-based Boardroom,
Inc., publisher of the BottomLine series of newsletters, and
BottomLine Personal, one of the largest circulation newsletters
published. EDS will continue to provide product fulfillment services
in support of the company's marketing efforts for their consumer
books and products. Services include order and payment processing,
warehousing and distribution, along with call center and Internet
-- A three-year renewal with home and family media and marketing
company, Meredith Corporation (NYSE: MDP), to provide product
fulfillment and customer support services. EDS will continue to take
customer orders via the Web, phone and fax, process and fulfill the
orders, handle returns, and respond to inquiries. Meredith, based in
Des Moines, Iowa, has been a client for more than 10 years.
-- An eight-year add-on agreement for payment services with one of the
United Kingdom's largest financial institutions.
Other previously announced BPO contracts in the quarter include Infineon and National Credit Card Center of Taiwan.
As a significant part of EDS' Business Process Outsourcing offerings, financial services transaction processing provides solutions that include integrated payment and clearing, card processing, content management, loan origination and servicing, interactive billing and credit services, insurance administration and services. EDS' CRM Services include consulting, business intelligence, contact center, demand management and distribution and warranty services to help clients grow revenue and reduce costs.
EDS Business Process Services includes customer relationship management (CRM), financial process management (FPM) and administrative and enterprise shared services, which includes human resources, finance and accounting and procurement services.
EDS, the world's most experienced outsourcing services company, delivers superior returns to clients through its cost-effective, high-value services model. EDS' core portfolio comprises information-technology and business process outsourcing services, as well as information-technology transformation services. EDS' two complementary, subsidiary businesses are A.T. Kearney, one of the world's leading high-value management consultancies, and UGS PLM Solutions, a leader in product data management, collaboration and product design software. With 2002 revenue of $21.5 billion, EDS is ranked 80th on the Fortune 500. The company's stock is traded on the New York (NYSE: EDS) and London stock exchanges. Learn more at www.eds.com .
The statements in this news release that are not historical statements, including statements regarding the amount of new contract values, are forward- looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond EDS' control, which could cause actual results to differ materially from such statements. For information concerning these risks and uncertainties, see EDS' most recent Form 10-K. EDS disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Electronic Data Systems Corporation