Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services and solutions, and Subex, an industry leader in providing services based on Digital Trust, have announced strategic partnership to roll-out blockchain based solutions for telecom operators globally. These solutions will enable fraud mitigation and drive operational efficiencies for communication service providers (CSP) by reducing compliance complexities and faster time-to-market.
The partnership will enable real-time reconciliation reports with summarized data to minimise discrepancies, leading to reduction of multiple validations and quick dispute resolution through tamper-proof verifiable transactions. Further this collaboration will expedite settlement for communication service poviders (CSPs) and drive enhanced visibility in the end-of-the-month billing cycle. The CSPs will benefit from enhanced operational efficiencies by leveraging blockchain based smart contracts and forge more impactful alliances to drive trust amongst diverse stakeholders.
Rajesh Dhuddu, Blockchain and Cybersecurity Practice Leader, Tech Mahindra, said, “Being a service provider of choice for global telecom operators, Tech Mahindra will help reduce overheads and enhance business profitability. As part of TechMNxt Charther, Tech Mahindra aims to offer a cutting-edge solution built on Blockchain and smart contracts that optimizes spends and proactively mitigates disputes. In the collaboration with Subex, adding blockchain as the middleware will add the necessary layer of security and ensure faster and efficient operational process.”
Tech Mahindra will roll-out solutions for telecom operatorsbacked by its proven capabilities in operations support systems (OSS) and business support systems (BSS) domain. The solutions will be integrated with Subex’s blockchain network and the capabilities of an enterprise-grade DLT (Distributed Ledger Technology) network. Further, Tech Mahindra plans to extend the existing intercarrier settlement implementation in phase-II to include roaming agreements through smart contracts and thereby lead to reduced cost of operations, faster turnaround times and minimize disputes.
Rohit Maheshwari, Head – Strategy & Products, Subex, said, “It is indeed a great pleasure for Subex to be joining hands with Tech Mahindra, towards making Blockchain a business reality within the telecom world. With Subex’s strategy of enabling businesses to build trust within the digital ecosystem, we believe that Blockchain-based technologies will play an important piece to that puzzle. Towards this, we have made significant strides towards leveraging Blockchain in solving challenges across multiple use cases. Considering Tech Mahindra’s visionary stance towards Blockchain, and their renowned leadership towards driving digital transformation projects built upon the technology, we believe that this partnership will go a long way towards increasing the adoption of Blockchain within the telecom industry.”
As part of the TechMNxt charter, Tech Mahindra has a deep focus on leveraging cutting-edge technologies deliver enhanced experience to our customers and is currently engaged with multiple service providers globally on their network transformation journey.
Shares of TECH MAHINDRA LTD. was last trading in BSE at Rs.826.35 as compared to the previous close of Rs. 808.9. The total number of shares traded during the day was 230821 in over 6872 trades.
The stock hit an intraday high of Rs. 836 and intraday low of 810.05. The net turnover during the day was Rs. 190813289.