Massmart and Genpact Partner to Transform Finance Operations Leveraging Digital Technology and Analytics
Genpact (NYSE: G) has partnered with Massmart to enhance its finance operations through digital technology and analytics. This collaboration will standardize and automate Massmart's finance and accounting services, including accounts payable and receivable, enhancing real-time visibility and transparency. Genpact will establish finance delivery centers in Johannesburg and Durban, South Africa, transferring affected Massmart employees to its team. This partnership builds on Genpact's relationship with Walmart, Massmart's majority owner, focusing on operational excellence and efficient finance processes.
- Partnership with Massmart enhances finance operations, driving competitive growth.
- Establishment of finance delivery centers in South Africa to improve service efficiency.
- Transfer of Massmart employees to Genpact may enhance career prospects.
- None.
NEW YORK, Feb. 9, 2021 /PRNewswire/ -- Genpact (NYSE: G), a global professional services firm focused on delivering digital transformation, today announced it is partnering with Massmart, a leading retailer in Africa, to transform Massmart's finance operations, leveraging digital technology and analytics to drive competitive growth.
Genpact will transform and manage Massmart's finance and accounting (F&A) services, including accounts payable, accounts receivable, and defined activities in financial control, tax, treasury, and financial planning and analysis.
Genpact will combine its industry-leading F&A capabilities with its digital technology, domain and process expertise in retail and consumer goods, and experience managing operations for numerous Global Fortune 500 companies to standardize and automate Massmart's processes. Genpact will help Massmart reimagine finance operations, enabling new levels of transparency and real-time visibility into critical functions. As a result, Massmart can unlock savings to reinvest in growth and continued innovation.
"Partnering with Genpact provides the opportunity to establish a transaction processing center of excellence in South Africa, with the help of proven international best practices that will be beneficial not only to Massmart, but also for the career prospects of our associates who are part of the functions that Genpact will manage," said Mitch Slape, chief executive officer, Massmart.
Genpact will open F&A delivery centers in Johannesburg and Durban, South Africa. Massmart employees affected by this engagement will transfer to Genpact.
"Retail companies need fast, agile operations to respond quickly to ever-changing consumer spending and shopping habits, especially now as they face continued business challenges from the COVID-19 pandemic," said Tiger Tyagarajan, chief executive officer, Genpact. "We look forward to partnering with Massmart, bringing our expertise in digital technology and analytics to create new ways of working to support its growth strategy, building on the successes from our relationship with Walmart. We welcome our new South African associates, and are excited about the skills they bring to the Genpact team."
The engagement builds on Genpact's partnership with Walmart, Massmart's majority owner, where Genpact manages the global retailer's F&A operations in North America and Latin America.
About Massmart
Massmart powered by Walmart, comprises two Business Units operating 420 retail and wholesale stores, in 13 sub-Saharan countries. Through our widely-recognized, differentiated retail and wholesale formats, we have leading market shares in the General Merchandise, Liquor, Home Improvement and Wholesale Food markets. Our key foundations of high volume, low cost and operational excellence enable our price leadership.
About Genpact
Genpact (NYSE: G) is a global professional services firm that makes business transformation real. We drive digital-led innovation and digitally-enabled intelligent operations for our clients, guided by our experience running thousands of processes primarily for Global Fortune 500 companies. We think with design, dream in digital, and solve problems with data and analytics. Combining our expertise in end-to-end operations and our AI-based platform, Genpact Cora, we focus on the details – all 90,000+ of us. From New York to New Delhi and more than 30 countries in between, we connect every dot, reimagine every process, and reinvent companies' ways of working. We know that reimagining each step from start to finish creates better business outcomes. Whatever it is, we'll be there with you – accelerating digital transformation to create bold, lasting results –because transformation happens here. Get to know us at Genpact.com and on LinkedIn, Twitter, YouTube, and Facebook.
MEDIA CONTACTS:
Danielle D'Angelo
Genpact Media Relations – Americas
+1 914-336-7951
danielle.dangelo@genpact.com
Siya Belliappa
Genpact Media Relations – India
+91 9823133365
siya.belliappa@genpact.com
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SOURCE Genpact
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