Genpact and AstraZeneca Extend Finance and Accounting Services Agreement
NEW YORK, Dec. 12, 2013 /PRNewswire/ -- Genpact Limited (NYSE: G), a global leader in transforming and running business processes and operations, today announced a multi-year contract extension for its global finance and accounting (F&A) services agreement with leading pharmaceutical company AstraZeneca.
The AstraZeneca-Genpact relationship launched in 2009. Through its unique Smart Enterprise Processes (SEPSM) methodology for improving the effectiveness of business processes, combined with analytical insights, technology, and global delivery excellence, Genpact has helped AstraZeneca achieve impact through continuous process improvement initiatives and increased global compliance through the standardization and harmonization of finance processes.
The multi-year contract extension encompasses transactional finance operations covering procure-to-pay (P2P), travel and expense (T&E), record-to-report (R2R), sales order-to-cash (SOTC), data management services and support for AstraZeneca's Global Transactional Finance transformation program – delivered from five delivery centers globally.
In addition, AstraZeneca has been engaged with Genpact's IT business to deploy a global Travel and Expense platform and more recently began a three-year engagement with Genpact's Akritiv OTCbusiness process as a service (BPaaS) platform to implement the solution globally in an effort to drive working capital improvement. The Akritiv BPaaS platform will leverage AstraZeneca's existing ERP investments to accelerate cash conversions, compress dispute resolution cycle time, increase visibility with award-winning reporting, and automate collection strategies.
"Genpact is extremely proud of the partnership we have built with AstraZeneca and how we have applied our Lean and Six Sigma-driven process expertise and operational excellence to make their financial operations more effective," said Balkrishan 'BK' Kalra, senior vice president, Life Sciences, CPG and Retail, Genpact. "The life sciences industry continues to be a priority investment market for Genpact. We look forward to continuing our partnership with AstraZeneca and allowing the company to focus on its strategic growth objectives and its core business of making a meaningful difference to healthcare by delivering great medicines to patients through innovative science."
AstraZeneca is a global, innovation-driven biopharmaceutical business that focuses on the discovery, development and commercialization of prescription medicines, primarily for the treatment of cardiovascular, metabolic, respiratory, inflammation, autoimmune, oncology, infection and neuroscience diseases. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit: www.astrazeneca.com.
Genpact Limited (NYSE: G) is a global leader in transforming and running business processes and operations, including those that are complex and industry-specific. Our mission is to help clients become more competitive by making their enterprises more intelligent through becoming more adaptive, innovative, globally effective and connected to their own clients. Genpact stands for Generating Impact – visible in tighter cost management as well as better management of risk, regulations and growth for hundreds of long-term clients including more than 100 of the Fortune Global 500. Our approach is distinctive – we offer an unbiased, agile combination of smarter processes, crystallized in our Smart Enterprise Processes (SEPSM) proprietary framework, along with analytics and technology, which limits upfront investments and enhances future adaptability. We have global critical mass – 62,000+ employees in 24 countries with key management and corporate offices in New York City – while remaining flexible and collaborative, and a management team that drives client partnerships personally. Our history is unique – behind our single-minded passion for process and operational excellence is the Lean and Six Sigma heritage of a former General Electric division that has served GE businesses for more than 15 years. For more information, visit www.genpact.com. Follow Genpact on Twitter, Facebook, and LinkedIn.
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SOURCE Genpact Limited