The IT project is a welcome boost to Xansa, having announced the loss of 430 jobs – around 7% of its global workforce – at the end of 2002.
The deal will see Xansa implement the Oracle 11i e-Business suite, which aims to give O2 costs savings of 25% over a five-year term.
The scope of service provided will range from accounts receivable through to supply chain and inventory management. Around 7,000 of O2’s workforce will have access to the system, and the process will be achieved by Xansa consultants working alongside O2’s finance and technology teams.
Commenting on the deal, Matthew Key, O2 UK’s chief financial officer, said: ‘This new service will play a major part in our plans to transform O2’s accounting and finance processes in the UK. We chose Xansa because the will enable us to increase the quality and efficiency of the business whilst reducing our operational costs around 25%.”
Xansa shares have climbed 4% to 64.5p since the start of trading today.
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