Verizon, the leading telecommunications giant in the United States, has entered into a strategic technology partnership with India’s HCL Technologies (HCLTech) to rejuvenate its wireline business and bolster its network management capabilities for business customers. This collaboration aims to counter the decline in Verizon’s wireline business revenue by leveraging cutting-edge technologies and expert services, Reuters news report said.
Verizon’s wireline business, which encompasses services for business customers, has faced revenue challenges in recent years. In response, Verizon has made a strategic move to tap into the power of artificial intelligence and automation.
Scott Lawrence, Senior Vice President at Verizon, highlighted the crucial decision-making process the company underwent. Verizon had to choose between substantial investments in upgrading its systems or forging a partnership with a technology leader that already possesses these advanced services.
The agreement outlines the roles of both companies in this transformative venture. Verizon Business will spearhead sales and development efforts, while HCLTech will take charge of post-sale network roll-out and ongoing support. As part of this collaboration, certain Verizon employees will transition to HCLTech, ensuring a seamless transfer of expertise and knowledge.
This strategic partnership is poised to achieve multiple objectives, including the expansion of Verizon’s managed service business, acquisition of new clients, and mitigation of potential customer attrition. Scott Lawrence emphasized the timeline for tangible results, stating, “We are going to start unlocking value as early as the end of this year and certainly into 2024, 2025 and beyond.”
HCLTech’s role in the collaboration positions them as Verizon Business’ Managed Network Services (MNS) collaborator for all global enterprise networking deployments. Verizon Business will focus on customer acquisition, sales, solution development, and planning, while HCLTech will spearhead the implementation of solutions post-sale and provide ongoing support. This synergy will enhance Verizon’s service delivery, allowing for seamless integration of next-generation technologies like 5G, SD-WAN, and SASE into customer operations.
Kyle Malady, CEO of Verizon Business, expressed optimism about the partnership’s potential impact: “Our data-driven service delivery, advanced network capabilities, and frictionless customer interfaces combined with the unique strengths and resiliency of the Verizon network will enable enterprises to drive better business outcomes and time to market.”
C Vijayakumar, CEO and Managing Director of HCL Technologies, echoed this sentiment, highlighting the fusion of their data-driven service delivery and the robust Verizon network. He emphasized the partnership’s capacity to empower enterprises to achieve superior business outcomes and accelerate their time to market.
As the technology landscape continues to evolve, Verizon’s collaboration with HCLTech exemplifies a strategic move to leverage expertise and innovation, propelling the telecom industry forward and enriching the service offerings available to businesses.
