Kimberly-Clark Continues Finance Transformation with 5-Year Deal
Global consumer product goods (CPG) leader Kimberly-Clark continues to partner with Genpact Limited 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.
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. 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 has 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. "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."
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. 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 has 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. "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."