Kimberly-Clark is the latest company to wake up to the potential pluses of using outsourcing services on foreign shores by signing a five year deal to hand over the reigns of its finance and accounting systems.
Genpact will take over global control for Kimberly-Clark's activities relating to accounts payable, travel expenses, pricing administration, accounting-to-reporting and supply chain accounting.
But, as yet, specific terms of the deal, such as value and potential workforce size or geographic location have not been disclosed.
In addition to an Indian operation, Genpact also has a presence in seven other countries: China, Hungary, Mexico, Poland, Romania, the Philippines and the US.
"This move will allow us to better focus our resources on innovation, brand-building and other capabilities that will drive long-term, sustainable growth," said Ian Maginnis, Kimberly-Clark vice president of business support delivery.
"Genpact is highly regarded by numerous multinational clients as a partner that provides top-quality service in finance and accounting services. By moving our non-core F&A activities to Genpact, we will reduce costs and improve efficiency in these areas."
Pramod Bhasin, Genpact's president and chief executive officer, added: "We look forward to partnering with Kimberly-Clark in ways that will not only improve processes, but contribute substantial bottom-line savings as well.
