April 20, 2024 05:31 (IST)
Follow us:
Genpact extends partnership with Kimberly-Clark
New York, Jun 4 (IBNS): Genpact Limited, one of the global leaders in transforming and running business processes and operations, on Tuesday announced that it will continue to partner with global consumer product goods (CPG) leader Kimberly-Clark to provide and optimize finance and accounting services (F&A), including a number of industry-specific functions such as supply chain accounting.
This new five-year contract extends the previous contract set to expire in December 2014.
According to the officials, Kimberly-Clark has been an industry pioneer, industrializing its business process operations through Genpact in 2007, when the company made the strategic decision to drive more cost-effective finance operations in order to focus on product innovation and customer service.
The officials further noted that Kimberly-Clark’s decision was also innovative in that it sought Genpact’s CPG industry experience and analytics expertise to build a trade promotion optimization framework as part of its strategy to become more competitive in the face of an increasingly complex environment marked by rising commodity costs, expanding markets, evolving consumer behaviors, and retailer consolidation.
Genpact helped Kimberly-Clark drive industry-recognized operational excellence in the company’s finance processes, including reducing the finance closing cycle time by 20 percent while achieving significant cost savings to date.
Genpact is continuing to leverage its Smart Enterprise Processes (SEPSM) methodology for benchmarking and bringing to best-in-class levels Kimberly-Clark’s finance and accounting (F&A) operations, including supply chain accounting, accounts payable, accounting-to-reporting, procurement and customer financial services.
With its Lean and Six Sigma-driven process expertise and global delivery capabilities, Genpact is also continuing to support Kimberly-Clark’s Europe business transformation efforts.
“Genpact has been a key business transformation partner for Kimberly-Clark, helping us to exceed our F&A operations goals by significantly improving the effectiveness of our F&A processes as well as the success of our trade promotions efforts,” said Mark Buthman, senior vice president and chief financial officer, Kimberly-Clark.
He added, “We are happy to extend our partnership with Genpact which will help us generate further bottom line impact and continue to enhance our customer relationships.”
“Genpact is thrilled to extend this valuable partnership with Kimberly-Clark and we are proud of the business impact that we have helped them generate to date,” said BK Kalra, senior vice president and business leader, CPG, Retail and Life Sciences, Genpact. “
Kalra said, "We look forward to further helping Kimberly-Clark on their finance transformation journey.”
Genpact provides a comprehensive range of services to its CPG clients which leverage analytics and technology to effectively support core finance and procurement processes in addition to trade promotions, integrated business planning, marketing optimization, and supply chain and inventory optimization.
As an example, Genpact’s Trade Promotion Management and Optimization services help companies better leverage their investments in their brands, including in-store presence. More information is available at www.genpact.com/home/industries/consumer-goods.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
India's forex reserves contract by $5.4 billion to $643.16 billion Sat, Apr 20 2024
Ola Cabs IPO likely on the cards to raise $500 million: Report Fri, Apr 19 2024
Wipro's headcount drops 9.5% to 2,34,054 in FY24 Fri, Apr 19 2024
Wipro Q4FY24: Net profit drops 8% YoY to Rs 2,835 cr Fri, Apr 19 2024
Jio Financial Services Q4FY24 net profit at Rs 310 cr; NII Rs 280 cr Fri, Apr 19 2024
Sensex jumps up 599 points ending losing streak for several sessions Fri, Apr 19 2024
Stock market opens in the red amid reports of Israeli retaliatory strikes against Iran Fri, Apr 19 2024
HDFC Life Q4FY24 net profit grows 14.8% YoY to Rs 411 cr Thu, Apr 18 2024