Genpact Unveils CIMA Report on the Evolution of the Finance Organization

20 octobre 2021 Pierre Perrin-Monlouis

Seventy-five percent of respondents believe transformation in finance function beyond accounting operations creates value and leads to better performance

NEW YORK, July 7, 2011 – Genpact Limited (NYSE: G), a global leader in business process and technology management, today announced key insights from the 2011 Chartered Institute of Management Accountants (CIMA) report that it has sponsored, “From Efficiency to Effectiveness: Transforming the Finance Delivery Mix,” which surveyed the opinions of over 3,000 finance and senior managers around the world.

The report addresses the scope and impact of the transformation within the finance function for creating value and overall business effectiveness for the entire organization. The report also indicates how finance services are expected to be delivered in the future, and how finance professionals can facilitate the required focus on management support to better meet organizational objectives. The report offers rare insight into such questions as:

What are finance executives really seeing with regard to finance transformation as the economy slowly works its way through this downturn?
What are the future trends and best practices in the delivery of finance services?
How are top-performing companies maximizing the impact of their F&A operations?

“Many finance functions are evolving to provide more high-value insight and strategy, rather than just focusing on accounting transactions and costs,” said Shantanu Ghosh, senior vice president, Practices, Solutions and Transitions, Genpact. “Genpact has witnessed this transformation first hand and we have already developed solutions for our clients in multiple industries to assist them in generating this value. That’s how they can make smarter decisions and achieve more significant business impact.”

Finance professionals rating their organization as ‘high performing’ tended to focus more effort on management support and less on traditional accounting operations. Better performers were also more likely to display attributes associated with more transformed and collaborative finance functions.

The report also reveals that 60 percent of respondents use or plan to use externally-provided finance services such as outsourcing companies or shared services centers. While cost savings is still a factor in decision making for working with external partners, it is now more of a focus on adding capacity and skills to increase the effectiveness of the financial processes as well as provide more alignment to corporate goals.

“Five years ago we went with (business process management) BPO primarily for labor arbitrage and our relationship with our supplier (Genpact) has exceeded our aspirations in all dimensions. We get the best audits we have ever had. We treat the supplier as another part of GSK, we invest in the people and work together to lower attrition rates and to increase the effectiveness of services,” said Paul Blackburn, group financial controller, GlaxoSmithKline, as quoted in the CIMA report.

For more information or to download the report, please go to http://www.genpact.com/CIMA-Report.aspx?utm_source=CIMA&utm_medium=PR&utm_campaign=Report. Shantanu Ghosh delivers his perspective on the report’s findings, along with other key insights on the changing role of the CFO, in an interview Robert G. Jelly, CIMA’s director of education. This engaging video can be viewed in full or in topical segments at http://mediazone.brighttalk.com/comm/CIMA/70d731c909-25421-3954-27371%29 utm_source=CIMA&utm_medium=PR&utm_campaign=SG_Interview.

About CIMA
The Chartered Institute of Management Accountants, founded in 1919, is the world’s leading and largest professional body of Management Accountants, with 183,000 members and students operating in 168 countries, working at the heart of business. CIMA members and students work in industry, commerce, the public sector and not-for-profit organisations. CIMA works closely with employers and sponsors leading-edge research, constantly updating its qualification, professional experience requirements and continuing professional development to ensure it remains the employers’ choice when recruiting financially-trained business leaders. For more information, go to www.cimaglobal.com.

About Genpact
Genpact is a global leader in business process and technology management, offering a broad portfolio of enterprise and industry-specific services. The company manages over 3,000 processes for more than 400 clients worldwide. Putting process in the forefront, Genpact couples its deep process knowledge and insights with focused IT capabilities, targeted analytics and pragmatic reengineering to deliver comprehensive solutions for clients. Lean and Six Sigma are an integral part of Genpact’s culture and Genpact views the management of business processes as a science. Genpact has developed Smart Enterprise Processes (SEPSM), a groundbreaking, rigorously scientific methodology for managing business processes, which focuses on optimizing process effectiveness in addition to efficiency to deliver superior business outcomes. Services are seamlessly delivered from a global network of centers to meet a client’s business objectives, cultural and language needs and cost reduction goals. Learn more at www.genpact.com.

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