Capgemini Signs BPO Contract with Finnish Forest Products Company
05 November 2008
Capgemini, one of the world’s foremost providers of consulting, technology and outsourcing services, today announced that Capgemini Outsourcing Services SAS has entered into a multi-year transformational business process outsourcing (BPO) agreement with Stora Enso, a leading forest products company, to provide financial and accounting transaction processing services globally, beginning in 2009.
Stora Enso has signed an agreement to transform its global finance processing through the outsourcing of transaction services to Capgemini. This agreement is a major step in Stora Enso Group’s finance function transformation program that was announced in October 2007. Capgemini will use its global process model and finance academy, plus its change management skills, which are expected to enable Stora Enso to standardise its finance processing around the world, thereby helping to reduce costs and improve quality.
Under this agreement, Capgemini BPO teams will provide financial and accounting services, such as vendor invoice handling, from Capgemini Rightshore® BPO delivery centres located in India, Poland and Brazil. In addition, Capgemini will support Stora Enso to establish its centralized shared service centre in Kotka, Finland, leaving only few finance functions remaining in the main operating countries.
Markus Rauramo, chief financial officer at Stora Enso, stated: “This decision is consistent with Stora Enso's strategy to seek efficiencies in its ways of working by reducing complexity and leveraging the scale and best practices of outsourcing providers. Transferring our accounting activities to Capgemini will enable us to streamline our administration in line with its more focused business. Capgemini has a proven track record in accounting BPO services.”
“This agreement is a great example of transformation through outsourcing and further evidence of our leadership position in the global finance BPO market” says Hubert Giraud, head of Capgemini BPO. “To have been chosen by a company like Stora Enso further serves as an example of our recognition in the Nordic countries.”
