Oct 31, 2013. /Lesprom Network/. UPM and Genpact Limited have signed a five year outsourcing agreement of transactional finance processes. As part of this agreement, UPM’s transactional finance processes will be handled by Genpact Service Center in Kolkata, India in close co-operation with UPM’s own Financial Shared Service Centers in Finland and China, as the company said in the press release received by Lesprom Network.

Genpact Limited is specialized in transforming and running finance and accounting processes and operations worldwide.

With this outsourcing agreement UPM will optimize and standardize the handling of recurring financial tasks and thus, drive significant improvements in cost and performance efficiency. With this engagement Genpact will contribute to UPM’s aims to increase scalability and flexibility of financial operations as well as ensure access to world-class competencies and best practices.

This outsourcing is related to UPM’s decision to reorganise its Finance & Control operations and to outsource recurring transactional tasks to an external company by the end of 2Q 2014.