INDIA BUSINESS WORLD - JANUARY 2006
THE MONTH THAT WAS

GENPACT WINS $60-M CONTRACT FOR OUTSOURCING F&A FUNCTIONS

Genpact, formerly GE Capital International Services, today closed a $60-million (Rs 260 crore) seven-year outsourcing deal with Germany 's 9-billion Linde Group to offer a host of finance and accounting (F&A) services. Linde happens to be one of Europe 's top technology groups with business interests in gas, engineering and material handling. The signing of the mega F&A deal was announced by Genpact's president & CEO Pramod Bhasin in Kolkata on the sidelines of the CII Partnership Summit 2006.

“Under the terms of the F&A contract, Genpact will deliver a range of F&A processes to the Linde Group in a global service delivery model from its BPO hubs in Bucharest ( Romania ) and Gurgaon. While Genpact has a modest 80-member staff in Bucharest , its 5,000-member team in Gurgaon will be closely involved in executing the Linde outsourcing contract. The outsourcing initiative will be headed by Genpact head (European ops) Patrick Cogney who operates out of Bucharest ,” Bhasin said.

While Genpact's top honcho declined to elaborate on commercials, he said, “Genpact by virtue of its global delivery model aims to deliver a 25-30% in cost savings to global clients; I can't reveal specific savings in total operating/finance costs in case of the Linde Group. Genpact helps global clients improve revenue, cash flows, costs, margins and customer relationships,” said Bhasin.
The Genpact CEO indicated the “F&A deal with Linde is the second major contract win for Genpact in two months. Last month, the Wachovia Corp, the fourth-largest bank in the US (in terms of assets) inked a seven-year deal with Genpact to set up an offshore operation to support Wachovia's BPO efforts.”

• Genpact closes $60-m outsourcing deal with Germany 's Linde Group

• Finance & accounting services to be handled for seven years

• Global delivery model to be executed from Bucharest & Gurgaon