Genpact and AstraZenec?a Extend Finance and Accounting Services Agreement

Genpact Ltd, a global leader in transforming and running business processes and operations, has 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 (SEP(SM)) 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 standardisation and harmonisation 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."