NEW YORK, October 31, 2013 - Genpact Limited (NYSE: G), a global leader in transforming and running business processes and operations, and UPM-Kymmene Corporation (UPM), the global frontrunner of the new bio and forest industry, have signed a five-year outsourcing agreement to provide finance and accounting services to UPM.
As part of this agreement, Genpact will create a global hub for UPM’s transactional finance processes in Kolkata, India, which will operate in close cooperation with UPM’s captive Financial Shared Service Centers in Finland and China.
“With this outsourcing agreement UPM will optimize and standardize the handling of recurring financial tasks and thus drive significant improvements in cost and performance efficiency as well as increase the scalability and flexibility of our financial operations,” says Erkka Repo, senior vice president of Business Control and Finance Operations at UPM. “We chose Genpact because of their track record in F&A and their experience in managing global transformation projects, combined with their commitment to process excellence and continuous improvement."
“We continue to expand our footprint and capabilities in the Nordics region, where in the past 12 months we have formed a number of solid relationships including this one with UPM,” says Ahmed Mazhari, senior vice president, Global Sales at Genpact. “Our granular process knowledge, deep analytical insights, global delivery and leadership in F&A services allow us to focus on transforming core business processes that generate significant business outcomes for our clients. We look forward to a long-term partnership and believe that we will be able to substantially improve the effectiveness of UPM’s F&A operations, making UPM more competitive, adaptive and connected to their customers.”
Source:http://www.prlog.org/12239599-upm-signs-finance-and-accounting-contract-with-genpact.html
