ACS Awarded Contract to Provide Finance and Accounting Solutions for Georgia-Pacific
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Affiliated Computer Services, Inc. (NYSE: ACS) announced today that it has been awarded a seven-year contract to provide finance and accounting (F&A) services for Georgia-Pacific LLC, one of the world's leading manufacturers and marketers of tissue, packaging, paper, pulp, and building products. Financial details were not disclosed.
Under the terms of the contract, ACS will deliver a range of F&A solutions, including accounts payable services, cash applications, travel expense management, payroll tax, and accounting services.
The agreement is reflective of the company's sustained leadership position as a preferred F&A services provider to global leaders in the manufacturing segment.
"We will leverage ACS' depth of experience in F&A, their global capabilities, and leading-edge technology to consolidate and enhance several accounting functions with the dual objectives of driving down operating costs and reducing working capital requirements," said Tyler Woolson, Georgia-Pacific chief financial officer.
ACS will employ its proprietary WorkFlow technology to facilitate both the accounts payable and cash applications processes. The company will also expand its range of existing capabilities in Manila, Philippines, adding substantial F&A service center support.
"ACS has a proven record of innovative performance in the F&A arena, with a strong global delivery model that enables us to excel at supporting large-scale, worldwide needs," said Kent Schnacker, senior managing director. "Our team of F&A specialists is dedicated to designing and tailoring solutions that support specific client objectives, and we look forward to putting this array of capabilities to work for Georgia-Pacific."
Services are expected to transition to ACS in early 2008.
ACS has steadily strengthened its position as a leading provider of finance and accounting services. Its broad spectrum of F&A solutions includes accounts payable, accounts receivable, billing, general accounting, tax management, treasury and risk management, and other finance functions.
Headquartered at Atlanta, Georgia-Pacific is one of the world's leading manufacturers and marketers of building products, tissue, packaging, paper, cellulose, and related chemicals. The company employs approximately 50,000 people at more than 300 locations in North America, South America and Europe. For more information, visit http://www.gp.com.
Source: ACS
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