Genpact-BlackLine Partnership Combines Domain-Specific Process Expertise With Unified Cloud Platform For Finance Controls and Automation
Joint BPaaS solution will deliver enhanced accuracy, greater regulatory compliance, and reduced costs to clients with complex, high-volume reconciliations, and other financial transaction
NEW YORK, November 17, 2015 – Genpact (NYSE: G), the architect of the Lean DigitalSM enterprise, and BlackLine, a leader in Enhanced Finance Controls and Automation (EFCA) software, today announced that Genpact has become a BlackLine Platinum Partner in BlackLine’s global Business Process Outsourcing (BPO) Partner Program.
The partnership combines Genpact’s record-to-report process and domain-specific F&A expertise with BlackLine’s unified SaaS (Software as a Service) platform to provide a transformative end-to-end Business Process as a Service (BPaaS) solution designed to help global enterprises automate and optimize account reconciliation, manual journals, inter-company transactions, and traditional manual financial close processes – and eventually, additional critical processes across their entire finance and accounting (F&A) organizations.
The joint Genpact-BlackLine BPaaS solution will deliver enhanced accuracy, greater regulatory compliance and reduced costs to clients with complex, high-volume monthly and year-end core accounting processes based on a single, consistent, controlled, and fully transparent process with simple client management and hand-off capabilities. This solution supports Genpact’s Lean Digital approach that combines digital technologies, design thinking, and Lean management principles to generate optimum business value from digital investments across front, middle and back-end operations for clients.
“Genpact’s close-to-disclose process transformation efforts have always been about reducing our clients’ business process costs, optimizing their process effectiveness and efficiencies, as well as improving the ability to capture, validate, and provide the timely and accurate financial data necessary to meet regulatory requirements,” said Shantanu Ghosh, senior vice president, CFO Services and Consulting, Genpact. “The BPaaS solution we’re offering through our partnership with BlackLine will enable us to generate even further agility, regulatory safeguards, and positive bottom-line contribution to our clients.”
Since the enactment of Sarbanes-Oxley in 2002 and other regulatory reforms, organizations have strived to improve their internal controls for their financial reporting. Yet, weaknesses and inefficiencies in their accounting processes continue to lead to mistakes on enterprises’ balance sheets and overall inaccuracies in their recorded financial results. These, in turn, can lead to significant bottom-line losses, multimillion-dollar fines and a loss of reputation in the marketplace.
Genpact and BlackLine are working together to deliver value and bottom-line results to a number of companies in various industries around the world. Genpact is a platinum sponsor of BlackLine’s InTheBlack Annual User Conference being held this week, November 15-18 in Atlanta.
“BPO partnerships are a strategic, global initiative for BlackLine and an integral part of our Go-To-Market strategy, particularly as we look to extend our BPO investment and support in regions such as India and Eastern Europe,” Chris Murphy, chief revenue officer, BlackLine, said. “Genpact is among the world’s leading BPO providers and is effectively leveraging its Lean Digital approach along with digital technologies, process excellence, analytics, and industry domain expertise to drive business impact for its clients’ operations. Our combined offering delivers F&A outsourcing transformation that is leading the market and helping elevate select companies to ‘Modern Finance’ status.”