Genpact Selected to Assist in Transforming Hyatt’s Global Finance and Accounting Operations
Companies’ expanded relationship now includes Europe, Africa, Middle East, Asia; new global business model leverages digital technology to automate and standardize processes to support Hyatt’s growth
NEW YORK, December 21, 2016 – Genpact (NYSE: G), a global leader in digitally-powered business process management and services, today 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.
“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 engagement leverages Genpact’s Lean DigitalSM approach that harnesses the combined power of process-centric technologies, design thinking methodologies, and domain expertise. Digital tools such as robotic process automation and optical character recognition in multiple languages will drive greater agility and transparency. Genpact and Hyatt expect to increase productivity substantially for the F&A activities in the newly expanded scope.
“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.
For more information about Genpact’s hospitality and travel-related services, which includes industry-specific digital transformation solutions, as well as F&A, analytics, and supply chain management capabilities, please visit http://www.genpact.com/home/industries/hospitality.
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
Genpact (NYSE: G) stands for “generating business impact.” We are a global leader in digitally-powered business process management and services. We architect the Lean DigitalSM enterprise through our patented Smart Enterprise Processes (SEPSM) framework that reimagines our clients’ operating models end-to-end, including the middle and back offices. This creates Intelligent OperationsSM that we help design, transform, and run. The impact on our clients is a high return on transformation investments through growth, efficiency, and business agility. For two decades, first as a General Electric division and later as an independent company, we have been passionately serving our clients. Today, we generate impact for a few hundred strategic clients, including approximately one-fifth of the Fortune Global 500, and have grown to over 75,000 people in 25 countries, with key offices in New York City. The resulting business process and industry domain expertise and experience running complex operations are a unique heritage and focus that help us drive the best choices across technology, analytics, and organizational design. For additional information, visit www.genpact.com. Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.
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