GSK's US-based operations contract to Genpact
New Delhi, May 9: Genpact, a global business services and technology solutions company, today announced it has signed a five-year agreement to provide select finance and accounting services for GlaxoSmithKline's (GSK) US-based operations.
Genpact will now support US-based accounts payable, fixed assets, general accounting, process planning, travel and expense, and business applications support for GSK. The transition of these services will occur throughout 2006, with GSK maintaining a small staff to oversee the operations on an ongoing basis.
''This agreement marks another major milestone in our growing relationship with GlaxoSmithKline worldwide. We look forward to working with GlaxoSmithKline to help drive continuous improvement and productivity for the global healthcare major,'' Genpact President and CEO Pramod Bhasin said.
Genpact has recently signed agreements with German-based technology group Linde and Wachovia Corporation, the fourth largest bank holding company in the US (based on assets) to support their business process outsourcing efforts.
Genpact began providing similar services to the company's UK-based operations last year.