French computer consulting firm Capgemini has announced that its American subsidiary has landed a contract to provide finance and accounting services for NBCUniversal International. Capgemini now provides BPO services to four of the top five companies in the media and entertainment industry.
The BPO firm will provide NBCUI with services in general accounting, accounts payable and accounts receivable. The media company’s finance team will work closely with Capgemini in processing these back-office functions.
The U.S. media firm, which did not disclose the financial details of the contract, stated in a press release that the outsourcing deal will help it free up working capital and focus on its core operations.
“The combination of our people, integrated solutions and Global Enterprise Model approach will help drive best-in-class operating performance for NBCUI’s finance and accounting functions,” said Brenda Heath, Head of Capgemini BPO’s Media and Entertainment business unit.
Key finance and accounting services that Capgemini intends to provide to NBCUI include Procure-to-Pay (P2P), Order-to-Cash (O2C) and Record-to-Analyze (R2A). In addition, the implementation of new command center capabilities will help provide NBCUI with clear insights into its finance and accounting activities.
The French outsourcer says on its website that its F&A BPO service helps companies reduce costs between 30 and 70% and access insights to improve business outcomes.
Capgemini significantly bolstered its F&A services division after it acquired Order to Cash (OTC) business from U.S.-based Vengroff in late 2011. The acquisition helped the French outsourcer gain onshore O2C capabilities, mainly in the United States, as well as process expertise.