News : Genpact Selected to Assist in Transforming Hyatt’s Global Finance and Accounting Operations
New York, NY, USA, Dec 21, 2016 -- Genpact (NYSE: G), a global provider in digitally-powered business process management and services, announced plans to expand its finance and accounting (F&A) relationship with Hyatt to transform Hyatt’s financial operations in Europe, Africa, Middle East and Asia.
As part of the multi-year engagement, Genpact will seek to globalize its business model for Hyatt’s F&A organization that centralizes and standardizes processes for procure-to-pay, record-to-report, and order-to-cash operations. This expanded model will help scale Hyatt’s finance operations by improving productivity. The contract expansion builds on a relationship that began in 2008 when the two companies worked together to drive F&A transformation at Hyatt’s North American properties.
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"Our expanded work with Genpact underscores the benefits we’ve realized in our North America hotel F&A operations, and we look forward to similar success in other regions," said Patrick Grismer, Chief Financial Officer, Hyatt Hotels Corporation. "Genpact’s deep domain experience in F&A, coupled with its digital solutions and process expertise, continues to help Hyatt increase the value delivered by the finance function."
"The hospitality industry’s increasingly competitive environment dictates that F&A operations drive greater value. Our global model and robust reporting capabilities deliver more efficient F&A operations, which positions the finance organization as a more strategic partner to business teams," said Patrick Cogny, senior vice president and business leader, Infrastructure, Manufacturing and Services, and High Tech, Genpact.
Posted by Veronica Silva Cusi, news correspondent
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Genpact is a Business process outsourcing (BPO) company in India. It was formerly a GE owned company called GE Capital International Services or GECIS. It operates from India, China, Guatemala, Hungary, México, Morocco, the Philippines, Poland, the Netherlands, Romania, Spain, South Africa, and the United States.
About Hyatt International:
Global Hyatt Corporation, one of the world's premier hotel companies, offers today's travelers over 735 hotels and resorts (over 136,000 rooms) in more than 44 countries. The company's affiliates own, operate, manage and franchise Hyatt branded hotels and resorts under the Park Hyattâ„¢, Grand Hyattâ„¢, Hyatt Regencyâ„¢, Hyatt Resortsâ„¢, Hyattâ„¢, Hyatt Placeâ„¢ and Hyatt Summerfield Suitesâ„¢ brands. In April 2007, Hyatt launched its newest global brand, Andazâ„¢.
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