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TD SYNNEX Corporation (NASDAQ: SNX) is a prominent global player in IT distribution and business services. Established in 1980, the company has evolved into a $10.4 billion giant with over 53,000 associates worldwide. Recognized for its excellence, TD SYNNEX was ranked No. 260 on the Fortune 500 list in 2014.
The company's primary operations are divided into two key segments: Technology Solutions and Global Business Services. In the Technology Solutions segment, TD SYNNEX collaborates with over 300 leading technology manufacturers, facilitating the distribution of their products through a network of more than 20,000 value-added resellers, primarily in North America. Key product categories include IT systems, peripherals, system components, software, networking, and consumer electronics. Esteemed vendor partners include HP, Intel, Panasonic, Microsoft, Lenovo, Seagate, among others.
TD SYNNEX also excels in providing comprehensive business process outsourcing services. These services encompass technical support, renewals management, demand generation, direct sales, customer service, back-office processing, and IT outsourcing. These offerings position TD SYNNEX as a vital partner for many companies looking to streamline their operations and enhance efficiency.
The company's geographical segments cover the Americas, Europe, and APJ (Asia-Pacific and Japan), ensuring a widespread market presence and the capability to serve a diverse client base.
Recent Achievements and Projects
- TD SYNNEX continues to innovate in the IT ecosystem, aggregating and distributing hardware, software, and systems including personal computing devices, mobile phones, printers, server and datacenter infrastructure, hybrid cloud solutions, security, networking, communications, and storage solutions.
- The company has maintained strong partnerships and expanded its product offerings to meet evolving market demands.
- Ongoing projects emphasize the enhancement of their IT distribution channels and the expansion of their global business services portfolio.
TD SYNNEX's commitment to excellence and innovation makes it a pivotal entity in the IT and business services sectors, with a significant impact on the market and a promising outlook for future growth.
TD SYNNEX (NYSE: SNX) has appointed Alim Dhanji as its new Chief Human Resources Officer, effective June 10. Dhanji, who succeeds Beth Simonetti, brings over 25 years of leadership experience in talent strategy and high-performance cultures from previous roles at Equinox Group and Adidas. Simonetti will retire on June 1 and continue as a consultant through August 31. CEO Rich Hume highlighted Dhanji's proven track record and his potential to enhance the company’s corporate culture and talent programs. Dhanji expressed enthusiasm for uniting global teams towards ambitious growth goals. He holds an MBA from Royal Roads University and has completed the Advanced Management Program at Harvard Business School.
TD SYNNEX (NYSE: SNX) has had its near and long-term science-based emissions reduction targets approved by the Science Based Targets initiative (SBTi), making it one of the first technology solutions aggregators to achieve this milestone.
Key highlights include:
1. Net-zero greenhouse gas emissions across the value chain by FY2045.
2. A 42% reduction in absolute scope 1 and 2 GHG emissions by FY2030 from a FY2022 base year.
3. By FY2028, 90% of suppliers by spend and 58% of customers by revenue will have science-based targets.
CEO Rich Hume emphasized that sustainability has been a priority since the company’s inception post-merger in 2021. Vice President Adam Rutstein highlighted the ongoing efforts to build regional roadmaps to reach these goals.
TD SYNNEX has launched MSP Evolve, a program designed to empower managed service providers (MSPs) in North America. The initiative includes a suite of customized solutions to enhance operational efficiency and drive business growth. MSP Evolve aims to address the unique challenges MSPs face in the evolving IT landscape, focusing on high-growth technologies like Cloud, Security, Data Analytics, and AI.
Key features include support services, solutions, and training programs available through the TD SYNNEX StreamOne® Cloud Platform, which offers tools for automation, integration, and billing reconciliation. The program also provides robust security services, including continuous IT infrastructure monitoring and comprehensive cybersecurity assessments.
Launched at the Beyond Security event in Boston, the initiative has already received positive feedback from partners, highlighting its educational and sales enablement resources.
TD SYNNEX (NYSE: SNX) has launched a High-Growth Technology Center of Excellence (CoE) aimed at accelerating partners' digital transformation initiatives through AI integration. The CoE offers resources to help partners navigate the rapidly evolving technology landscape, focusing on high-growth areas such as AI, cloud, cybersecurity, data, and modern infrastructure. The initiative includes AI Accelerator Workshops, Practice Builder Experiences, and a High-Growth Solutions Factory. The CoE builds on the Destination AI program and supports AI-driven solutions in security, data, and cloud. As per TD SYNNEX’s 2023 report, there is a 625% increase in AI interest, and IDC forecasts the Digital Transformation Market to reach $2.9 Trillion by 2027.
TD SYNNEX announced the launch of the IBM watsonx Gold 100 program, aiming to recruit 100 partners and equip them to achieve IBM’s Gold-tier status. The initiative will provide partners with training, business planning, marketing support, expert services, and demos to maximize their AI practice with the IBM watsonx AI and data platform. The program includes the establishment of IBM watsonx Centers of Excellence in four locations by 2024.
Tech Data Capital, a TD SYNNEX Company, is expanding to Singapore, Australia, and India to provide partners with flexible financing solutions from selected financial institutions. This move aims to address the financial scalability challenge faced by partners, enabling them to invest in new technologies and meet customer demand. The initiative will empower IT channel partners and clients to increase purchasing power and accelerate business growth in the APJ region.
Hyve Solutions, a subsidiary of TD SYNNEX (NYSE: SNX), has been named a design partner for the NVIDIA HGX platform. This partnership will focus on accelerating AI in the datacenter and at the edge by providing high-performance computing solutions for AI, ML, and DL workloads. Hyve's expertise in datacenter design and manufacturing, along with NVIDIA's technology, aims to deliver scalable AI datacenter architectures to meet the evolving needs of customers.
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