Linde Appoints Genpact to Build Finance & Accounting Services to Best-in-Class Luxembourg

Genpact has signed a multi-year contract with German-based technology group Linde to provide finance & accounting services. The contract is valued at over $60 million (€50 million), making this one of the largest F&A deals signed in Continental Europe during the past year.

“We are honored that Linde has selected Genpact as its outsourcing partner and look forward to bringing GE best practices to the relationship as part of our agreement,” said Genpact President & CEO Pramod Bhasin. “Both our companies are focused on process excellence, which will fuel the synergy between our companies. We are seeking to grow aggressively in Continental Europe and this win will give us momentum to invest in this key growth market for Genpact.”

Linde CFO Dr. Peter Diesch said, “After a thorough evaluation of various global service providers, we chose Genpact for their operating excellence, flexibility and proven track record of doing similar work at highest quality for the General Electric Company.”

Established as GE Capital International Services in 1997 to provide business services and technology solutions to GE, Genpact today helps a wide variety of global enterprises improve their business performance by handling and improving such services as finance & accounting, collections, sales & marketing analytics, supply chain & procurement services, IT services, and enterprise applications services.

Genpact will deliver a range of F&A processes in a Global Service Delivery model from its Bucharest and New Delhi operations centers. Genpact serves its clients around the clock from 19 operations centers in six countries. The company has successfully delivered and transitioned more than 1,000 processes for GE and other Fortune 500 companies over its 9-year history. The majority of its 19,000 associates are certified in Six Sigma quality methods. Many are also trained in Lean, process reengineering, and have CPA or Chartered Accountant certifications.

The Linde contract win follows a major Genpact F&A win in November from Wachovia Corporation. Wachovia, the fourth largest bank holding company in the United States based on assets, signed an agreement with Genpact to establish an offshore operation to support Wachovia’s business process outsourcing efforts. That agreement was for seven years.

Genpact serves clients in a variety of industries including banking & finance, insurance, manufacturing, transportation, and business services.