Genpact to Manage Finance and Accounting for Centrica, One of the World's Leading Energy Companies
New York, November 6, 2012 – Genpact Limited (NYSE: G), a global leader in business process management and technology services, today announced a five-year agreement with Centrica, one of the leading energy companies in the world. Centrica is a top 30 company on the FTSE 100 Index with operations predominantly in the UK and North America. Under the terms of the agreement, Genpact will streamline and manage finance and accounting (F&A) and management reporting processes for British Gas, which serves 13 million households and 1 million businesses in the UK, and for its sister company, Direct Energy, which serves 6 million customers across Canada and the United States.
Genpact will drive end-to-end process excellence through its proprietary Smart Enterprise Processes (SEPSM) framework and be Centrica’s strategic partner in providing F&A and management reporting services. Genpact will deliver and ensure continuous improvement in those processes, reduce operational risks and improve financial controls while helping both British Gas and Direct Energy manage these costs and take these processes to best in class. This will support Centrica’s strategic objectives of growth, building an integrated North American business, and driving overall superior financial returns.
“We are looking forward to the development of our business relationship with Genpact,” said Ian Peters, MD, Energy for British Gas. “We chose Genpact because of their track record in F&A and reporting, combined with their commitment to process excellence and optimisation that was truly a differentiator.”
“We look forward to a very long term partnership with Centrica. Our framework and approach using the ‘science of process’ called SEPSM is what we will deploy to drive leading end-to-end processes that will deliver improvements in outcomes,” said Tiger Tyagarajan, president and CEO, Genpact. “It is vital in today’s competitive marketplace that energy providers maximise the value that effective business processes can create, especially in terms of the insights they can build for their customers, the improvement in customer service, and the bottom-line impact they can create.”