 "Infosys to integrate, standardise LKQ Europe's business processes")
Indian technology company Infosys on Thursday announced it has entered a five-year contract with LKQ Europe to integrate and standardise the latter's business processes and systems.
LKQ Europe is a subsidiary of LKQ Corporation, headquartered in Zug, Switzerland. It is the leading distributor of automotive aftermarket parts for cars, commercial vans, and industrial vehicles in Europe. It employs around 26,000 people.
In a regulatory filing, Infosys said LKQ Europe will leverage its "industry expertise in automotive and distribution solutions and implement systems with robust capabilities to drive sustainable productivity and to support their long-term business objectives."
"Infosys was chosen as the strategic partner for LKQ Europe's IT-related business transformation due to its credentials in ERP deployment and a commitment to long-term collaboration."
"This project is an extension of our original programme and focused on building a more streamlined and impactful organisation," said Varun Laroyia, chief executive officer of LKQ Europe.
Following multiple strategic acquisitions, LKQ has envisioned a corporate programme that entails harmonising business processes, improving product availability, and enabling faster delivery to end customers.
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"With Infosys as our strategic partner, we are aiming to reduce complexities, increase efficiency and leverage our strengths," said Laroyia.
Jasmeet Singh, executive vice president and global head of manufacturing at Infosys, said that the company was "thrilled" to collaborate with LKQ Europe.
"We are committed to delivering innovative solutions that will streamline LKQ Europe’s operations, support their growth, and ensure LKQ Europe's continued success in the automotive aftermarket industry," Singh said.
On Thursday, the shares of Infosys closed flat at Rs 1,536.25 apiece on BSE.