Genpact plans to expand its finance and accounting relationship with Hyatt to update Hyatt’s financial operations in Europe, Africa, Middle East and Asia. As part of the multi-year engagement, Genpact will globalize its business model for Hyatt’s finance and accounting organization that centralizes and standardizes processes for procure-to-pay, record-to-report and order-to-cash operations.
This expanded model will help to scale Hyatt’s finance operations by improving productivity. The contract expansion builds on a relationship that began in 2008 when the two companies worked together to drive F&A transformation at Hyatt’s North American properties.
“Our expanded work with Genpact underscores the benefits we’ve realized in our North America hotel F&A operations, and we look forward to similar success in other regions,” said Patrick Grismer, CFO of Hyatt Hotels Corp. “Genpact’s deep domain experience in F&A, coupled with its digital solutions and process expertise, continues to help Hyatt increase the value delivered by the finance function.”
The engagement leverages Genpact’s Lean Digital approach that harnesses the combined power of process-centric technologies, design thinking methodologies, and domain expertise. Digital tools such as robotic process automation and optical character recognition in multiple languages will drive greater agility and transparency. Genpact and Hyatt expect to increase productivity substantially for the F&A activities in the newly expanded scope.