AstraZeneca has inked a five-year contract pact with Genpact, a leader in managing business processes to handle its  global Finance & Accounting (F&A) services.  Under the terms of the contract, Genpact will work in partnership with the pharma major’s  finance team to boost the effectiveness of some of its  finance and accounting processes as part of the company's corporate initiative to reduce costs. The multi-million dollar contract will deliver services to over 50 countries.
 
Graham Russell, Head of Global Transactional Finance, AstraZeneca said,” streamlining business processes will enable us to improve the effectiveness of the company’s  finance function in driving, measuring and reporting business performance, while simultaneously reducing the costs of the finance function”.
 
Genpact's F&A practice currently supports more than 80 global enterprises, including five pharmaceutical and two life sciences companies. The partnership with AstraZeneca will further expand Genpact's client base and broaden its experience in the Life Sciences industry. Leveraging best practices developed through more than a decade of experience in F&A services, Genpact's F&A experts will provide AstraZeneca with support in a range of areas including procure-to-pay, record-to-report and order-to-cash services. AstraZeneca conducted a competitive search before selecting Genpact.
 
"We have been  chosen by AstraZeneca to streamline their Finance & Accounting operations. Our knowledge of process, experience in handling over 3,000 business processes, global best practices and Lean Six Sigma tools will allow us to contribute substantially to improving the effectiveness of AstraZeneca's F&A operations " said Pramod Bhasin, president & CEO, Genpact”, he said.