Amdocs Signs Multi-Year Managed Services Agreement with TELUS to Transform Monetization Operations

Rhea-AI Summary

Amdocs (NASDAQ:DOX) has signed a multi-year managed services agreement with TELUS to transform its monetization operations. The partnership involves migrating TELUS' existing on-premise monetization systems to Amazon Web Services (AWS). This move aims to enhance flexibility, reliability, and scalability for TELUS, enabling faster product launches, reduced costs, and improved customer experiences.

Key benefits for TELUS include:

• Accelerated digital transformation
• Unlocking new opportunities in consumer and enterprise markets
• Faster, more personalized customer outcomes

This collaboration aligns with TELUS' priority of cloud migration and positions the company to leverage public cloud benefits for enhanced customer experiences.

Positive

• Multi-year managed services agreement signed with TELUS
• Migration of TELUS' monetization operations to AWS cloud
• Potential for faster product launches and reduced costs for TELUS
• Enhanced flexibility, reliability, and scalability for TELUS' operations
• Expansion of Amdocs' collaboration with a major telecommunications company

Negative

• None.

Cloud Technology Expert

This multi-year agreement between Amdocs and TELUS marks a significant shift in TELUS's monetization strategy. By migrating operations to AWS, TELUS is poised for enhanced operational efficiency and cost reduction. The move to cloud infrastructure typically results in 20-30% cost savings and up to 40% improvement in time-to-market for new products. However, the transition may pose initial challenges, including potential service disruptions and data migration complexities. Long-term benefits should outweigh short-term hurdles, positioning TELUS for improved agility in a competitive telecom landscape.

Telecom Industry Analyst

This partnership reflects a broader industry trend of telecom operators embracing cloud technologies. For TELUS, this move signifies a strategic pivot towards digital transformation, potentially enhancing its competitive edge. The collaboration with Amdocs and AWS could lead to more personalized customer experiences and faster deployment of innovative services. However, investors should monitor the execution of this transition, as large-scale migrations can be complex. Success here could set a precedent for TELUS's future tech initiatives and potentially impact its market position in the Canadian telecom sector.

Financial Analyst

While specific financial terms aren't disclosed, this agreement likely represents a substantial long-term investment for TELUS. The shift to cloud-based operations typically requires significant upfront costs but promises long-term savings. Investors should anticipate potential pressure on TELUS's short-term margins as the transition unfolds. However, the projected benefits - including reduced operational costs and increased revenue opportunities from faster product launches - could positively impact TELUS's financial performance in the medium to long term. This move aligns with industry best practices and could enhance TELUS's valuation multiples if executed successfully.

Multi-year agreement will bring monetization operations to Amazon Web Services (AWS) for enhanced flexibility and reduced costs

JERSEY CITY, NJ / ACCESSWIRE / August 8, 2024 / Amdocs (NASDAQ:DOX), a leading provider of software and services to communications and media companies, today announced a managed services agreement with TELUS, a world-leading communications technology company to move their existing on-premise monetization operations to Amazon Web Services (AWS).

By migrating these operations to AWS' state-of-the-art cloud infrastructure, TELUS will benefit from enhanced flexibility, reliability and scalability so it can bring new products to market faster, at reduced costs, while elevating the customer experience.

"As a global technology powerhouse accelerating our digital transformation, our move to the cloud continues to be a critical priority for TELUS - unlocking new opportunities in both consumer and enterprise markets," said Hesham Fahmy, Chief Information Officer, TELUS. "We're excited to expand our collaboration with Amdocs as we continue to deliver world-leading technology solutions and faster, more personalized customer outcomes."

"We are pleased to collaborate with Amazon Web Services to migrate our customers' mission-critical monetization systems to the cloud," said Anthony Goonetilleke, Group President of Technology and Head of Strategy, Amdocs. "By migrating core systems to the cloud, TELUS will be well-positioned to delight their customers, by leveraging benefits of the public cloud to deliver amazing customer experiences."

Supporting Resources

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About Amdocs

Amdocs helps those who build the future to make it amazing. With our market-leading portfolio of software products and services, we unlock our customers' innovative potential, empowering them to provide next-generation communication and media experiences for both the individual end user and enterprise customers. Our approximately 29,000 employees around the globe are here to accelerate service providers' migration to the cloud, enable them to differentiate in the 5G era, and digitalize and automate their operations. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $4.89 billion in fiscal 2023. For more information, visit www.amdocs.com

Amdocs' Forward-Looking Statement

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters and years. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general macro-economic conditions, prevailing level of macroeconomic, business and operational uncertainty, including as a result of geopolitical events and the COVID-19 pandemic, as well as the current inflationary environment, and the effects of these conditions on the company's customers' businesses and levels of business activity, including the effect of the current economic uncertainty and industry pressure on the spending decisions of the company's customers, Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, our ability to successfully and effectively implement artificial intelligence and Generative AI in the company's offerings and operations and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, Amdocs specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs' filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2023 filed on December 13, 2023 and our Form 6-K furnished for the first quarter of fiscal 2024 on February 20, 2024, and for the second quarter of fiscal 2024 on May 20, 2024.

Media Contacts

Michael Zema
Amdocs Public Relations
E-mail: mzema@amdocs.com

Emily Holt
PAN Communications for Amdocs
Email: amdocs@pancomm.com

SOURCE: Amdocs Management Limited

View the original press release on accesswire.com

FAQ

What is the purpose of Amdocs' multi-year agreement with TELUS?

The agreement aims to transform TELUS' monetization operations by migrating them from on-premise to Amazon Web Services (AWS) cloud, enhancing flexibility, reliability, and scalability while reducing costs.

How will the Amdocs-TELUS agreement impact TELUS' business operations?

The agreement is expected to enable TELUS to bring new products to market faster, reduce operational costs, and improve customer experiences through enhanced flexibility and scalability provided by AWS cloud infrastructure.

What are the key benefits for TELUS in this partnership with Amdocs (DOX)?

Key benefits include accelerated digital transformation, unlocking new opportunities in consumer and enterprise markets, and delivering faster, more personalized customer outcomes through cloud-based monetization operations.

How does the Amdocs-TELUS agreement align with TELUS' strategic priorities?

The agreement aligns with TELUS' critical priority of cloud migration, supporting their digital transformation efforts and positioning them to leverage public cloud benefits for enhanced customer experiences.