Walmart to Outscource Some Financial Functions to Genpact

by Arkansas Business Staff  on Friday, Nov. 9, 2018 11:02 am   1 min read

(Wal-Mart Stores Inc.)

Walmart Inc. of Bentonville will transfer some of its finance and accounting employees to Genpact of New York, which will help the retailer manage some of its financial functions.

Genpact made the announcement in a news release on Thursday. The move will involve 570 employees at Walmart's headquarters, who will be offered employment at Genpact. The company will lease a building at Walmart's campus in Bentonville.

"This partnership will further accelerate our digital transformation and unlock potential savings for reinvestment in innovation and growth," Clay Johnson, Walmart's executive vice president and enterprise chief information officer, said in a news release. "We'll leverage Genpact's expertise in finance and accounting services and process transformation to further improve quality, reduce the total cycle time of our processes, and deliver value that's in the best interest of our associates and business."

The move takes effect Nov. 28.

Publicly traded Genpact (NYSE: G) has 80,000 workers in offices throughout the world. It has annual revenue of about $2.7 billion.

(The Associated Press contributed to this article.)

 

 

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