Hyatt, Shared, Service, Center, Genpact,Finance & Accounting, Services
Hyatt Shared Service Center, LLC Selects Genpact to Provide Finance & Accounting Services
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NEW YORK — Genpact (NYSE:G), which manages business processes for companies around the world, today announced that it has signed a five-year contract to provide finance and accounting services to Hyatt Shared Service Center, LLC. The decision to re-engineer and globalize these services is part of Hyatt's global competitive improvement initiative. Terms of the contract were not disclosed.
"This move will allow us to better focus Hyatt resources on what we do best - providing the best hotel experience for the business and leisure traveler, expanding our network of brands and properties so travelers have more choices, and innovating our services so travelers stay with Hyatt," said Chuck Floyd, Hyatt Chief Operating Officer, North America Operations.
"We are pleased to have the deep experience and proven expertise of a company like Genpact to help us improve the efficiency and effectiveness of our internal support operations," Floyd added.
Genpact, which provides best-in-class finance & accounting services to more than three dozen global enterprises, will support Hyatt's finance team in the area of accounts payable, credit and collections, and general accounting. Floyd said Hyatt conducted a competitive search before selecting Genpact to help standardize processes and drive more controllership. "The opportunity is to use tools like Lean and Six Sigma to help us improve both cost and quality, and add to Hyatt's overall F&A efficiency," Floyd commented.
"It is an honor to work with a company whose brand is trusted by so many travelers every day of the year," said Genpact President & CEO Pramod Bhasin. "We are delighted to have been chosen for our expertise and skills in F&A to join Hyatt in this important strategic transformation initiative and look forward to a long partnership."
About Genpact
Genpact manages business processes for companies around the world. The company combines process expertise, information technology and analytical capabilities with operational insight and experience in diverse industries to provide a wide range of services using its global delivery platform. Genpact helps companies improve the ways in which they do business by applying Six Sigma and Lean principles plus technology to continuously improve their business processes. Genpact operates service delivery centers in India, China, Hungary, Mexico, the Philippines, the Netherlands, Romania, Spain and the United States. For more info: www.genpact.com.
About Global Hyatt Corporation
Global Hyatt Corporation, one of the world's premier hotel companies with properties in 45 countries, provides authentic hospitality to guests through a passionate commitment to personalized service, cultural relevance, and genuine stewardship of the environment. Headquartered in Chicago, the company's affiliates own, operate, manage and franchise Hyatt-branded hotels and resorts under Park Hyatt(R), Andaz(TM), Grand Hyatt(R), Hyatt Regency(R), Hyatt Resorts(TM), Hyatt(R), Hyatt Place(R) and Hyatt Summerfield Suites(R) brands. Hyatt operates 368 hotels worldwide and currently has properties under development on five continents. Global Hyatt Corporation is also the owner of Hyatt Vacation Ownership, Inc.,and operator of Hyatt Vacation Club(R). From the U.S. and Canada, reservations for any Hyatt hotel worldwide may be obtained by calling 1-800-233-1234 or visiting www.hyatt.com.
Genpact David Jensen
1 203-252-8562
david.jensen@genpact.com
or
Hyatt Katie Meyer
1 312-780-5711
katie.meyer@hyatt.com
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