Transformation and Consulting
Record to Report
Generating R2R Transformation Impact
Genpact’s Record to Report (R2R) Transformation Services capitalize on our knowledge of best practices to enhance controllership, reduce compliance risks, ensure accurate and efficient recordings of general accounting transactions, enable timely and accurate management/statutory reporting, and more.
Our primary focus is to reduce business-process costs and optimize process effectiveness and efficiencies, while improving the ability to capture, validate, and provide the timely and accurate financial data necessary to meet regulatory requirements.
At Genpact, we architect the Lean DigitalSM enterprise by combining design-thinking principles, and Lean approaches with digital technologies and analytics, and deep domain expertise. Our approach reimagines R2R operations across the front, middle and back office to provide end-to-end digital solutions that deliver business outcomes.
We design, transform, and run record to report services that encompass general accounting, closing and reporting solutions for statutory and local accounting principle requirements. We also enable complex processes like tax compliance, statutory reporting, treasury, and product cost accounting.
Our Digital Smart Enterprise Processes (DSEPSM) framework reimagines business outcomes, such as agility, user experience, speed, and cost to serve.
Pharma giant transforms finance operations to cut costs by £105 million
To keep up with the increasing complexity and changes within the life sciences industry, this pharmaceutical giant, set out to transform its finance operating model to create end-to-end, best-in-class procure to pay (P2P), order to cash (O2C), and record to report (R2R) processes that would reduce the cost of operations by £6.4 million.
After partnering with Genpact, the company identified key strategic initiatives for the P2P and R2R functions. To date, this collaborative partnership has delivered 6% increased productivity year-on-year, and £105 million in business impact, £38 million of that in the first year alone.
Global consumer goods leader enhances business performance with enterprise performance analytics
A global food and beverages conglomerate with operations in several countries—lacked meaningful data and uniform metrics for assessing business performance across units and regions. Genpact deployed its Enterprise Performance Analytics (EPA) Systems of EngagementTM to transform the client’s finance and accounting processes for real-time visibility. This enabled the integration of all enterprise resource planning and related transactional systems for order to cash, procure to pay, and record to report processes in a single portal.