The collaboration between the two companies is helping the bank reduce costs, gain efficiencies and generally progress in its journey to achieve high performance.
This bank is a regional giant, employing approximately 40,000 people with major operations across Asia Pacific, Europe and North America. In 2010, it recorded revenues of more than $15 billion.
As a leading financial services company, the client is constantly looking for ways to gain efficiencies and compete successfully. It teamed with Accenture to explore the potential benefits of outsourcing its accounts payable function. Accenture High Performance Business research shows that many leading companies use business process outsourcing (BPO) to gain access to specialist skills, economies of scale and support the drive to achieve performance.
The client recognized the benefits of using BPO to help improve the performance of its finance organization, enhance its ability to work closely with the business and embed solid financial controls and governance structure. A further aim was to provide a specialist organization that would be able to attract and retain the best talent.
The bank chose Accenture based on the excellence of its existing delivery centers in India; the professionalism of its staff; and its extensive experience in finance and accounting BPO.