Genpact Renews Agreement with Ahold to Enhance Their Finance and Accounting and HR Services Across Europe Significant business impact for retail leader driven by process reengineering and IT services optimization leveraging the global Genpact footprint
NEW YORK, March 19, 2014 /PRNewswire/ -- Genpact Limited (NYSE: G), a global leader in transforming and running business processes and operations, today announced the renewal of its contract with international retailing group Ahold to drive significant business impact in the retailer's finance and accounting (F&A) and human resources (HR) services for the next five and three years, respectively. Genpact has been partnering with Ahold since its acquisition of Dutch services provider Accounting Plaza in 2012.
Ahold has been a pioneer in food retail since its inception. With the global food retail market becoming more tightly competitive, in late 2011 Ahold began a new phase of its growth strategy with one key enabler being to simplify its business processes. Genpact's foundational expertise in Lean and Six Sigma business process reengineering through its Smart Enterprise Processes (SEPSM) methodology and retail domain experience has helped Ahold to significantly reduce costs and improve operational performance. Genpact has also helped Ahold deliver business impact in its sourcing operations, and will continue to drive improvements in Ahold's F&A and HR operations through ERP maintenance, reporting, and risk and audit services. To create a more cost effective F&A and HR global delivery model, Ahold will leverage Genpact's delivery centers in the Netherlands, Poland and India.
"We are happy to extend our partnership with Genpact, since their expertise in F&A and HR business operations, business processes, IT services, and analytics has resulted in continuous improvements in our operations," said Chris Dik, executive vice president, Support and Services, Ahold.
"Genpact is excited to build upon our relationship with Ahold and achieve the next phase of their growth journey," said BK Kalra, senior vice president and business leader, Consumer Packaged Goods, Retail and Life Sciences, Genpact. "Not only are we continuing to deliver transformational F&A and HR operations support to Ahold, but we are helping them become more competitive through analytics and risk management services."
Genpact provides a comprehensive range of services to its retail clients which leverage analytics and technology to effectively support HR and F&A services including accounts payable, general accounting, accounting, closing and reporting (ACR), treasury, tax services, financial planning and analysis, recovery audit services and governance. Genpact also delivers high-end F&A services such as product cost accounting, continuous transaction monitoring, finance business intelligence and support to integrated business planning and supplier audit and recovery. More information is available at http://www.genpact.com/home/solutions/finance-accounting.
Ahold is an international retailing group based in the Netherlands, with strong local consumer brands in Europe and the United States. Ahold has 3,074 stores, 225,000 employees and serves a trade area of around 80 million people. Our foundation is selling great food – and supermarkets are our core business. We also operate other formats and channels so that our customers can shop whenever and wherever is most convenient for them. We provide our customers with the best possible value assortment and shopping experience. We are able to do this because we have great employees who love what they do and are good at it. The relationships they build with our customers are an important part of why they keep coming back to shop with us. For more information, visit www.ahold.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 – 64,000+ 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.
SOURCE Genpact Limited