Genpact Limited, a global leader in business process and technology management, has announced that it has signed an agreement with Dr. Reddy's Laboratories RDY -0.54% to provide comprehensive finance and accounting (F&A) services. Genpact will take over Dr. Reddy's shared services operations in Hyderabad, India which supports the company's operations in India, the United States and the United Kingdom.
Genpact will implement its best practices, including Lean Six Sigma operating rigor and Smart Enterprise Process (SEP(SM)) methodology, to bring Dr. Reddy's F&A processes to the optimum level of effectiveness for their accounts payable, accounts receivable, record-to-report and employee-related services.
Commenting on the development, Umang Vohra, CFO, Dr. Reddy's said, "We are happy to partner with Genpact which has proven capabilities in end-to-end F&A operations and domain expertise in the pharmaceutical sector. This engagement will ensure that our F&A support processes become more effective while we continue to focus on growing our pharmaceutical business across therapeutic segments and geographies."
"We look forward to partnering with Dr. Reddy's in their transformational journey by bringing our deeply entrenched domain expertise in the pharmaceutical industry," said Harpreet Duggal, senior vice president, Genpact. "We will also leverage our people practices, including our learning and training programs, to up-skill the employee talent pool. This partnership will bring to Genpact expertise in the generics pharmaceutical business and further growth of our client base in India."
"It's exciting to begin a long-term partnership with one of India's pharmaceutical leaders like Dr. Reddy's," said Tiger Tyagarajan, president and CEO, Genpact. "We look forward to bringing our global best practices using our unique science of process to help Dr. Reddy's run smarter operations."
Genpact manages F&A processes for global companies in many different industries, including pharmaceutical, and has deep experience in integrating these processes with customer service, collections, procurement, supply chain, reengineering, and analytics for maximum business impact. This engagement between Dr. Reddy's Laboratories and Genpact, through a rigorous process leading to the partnership agreement, was facilitated and managed by RvaluE Consulting, a Delhi based shared services and business process consultancy group.
About Dr. Reddy's
Dr. Reddy's Laboratories Ltd. is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - Dr. Reddy's offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars, differentiated formulations and NCEs. Therapeutic focus is on gastro-intestinal, cardiovascular, diabetes, oncology, pain management, anti-infective and pediatrics. Major markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa, Romania, and New Zealand. For more information, log on to: www.drreddys.com.
Genpact Limited, a global leader in business process and technology management services, leverages the power of smarter processes, smarter analytics and smarter technology to help its clients drive intelligence across their enterprise. Genpact's Smart Enterprise Processes (SEP(SM)) framework, its unique science of process combined with deep domain expertise in multiple industry verticals, leads to superior business outcomes. Genpact's Smart Decision Services deliver valuable business insights to its clients through targeted analytics, reengineering expertise, and advanced risk management. Making technology more intelligent by embedding it with process and data insights, Genpact also offers a wide range of technology services. Driven by a passion for process innovation and operational excellence built on its Lean and Six Sigma DNA and the legacy of serving GE for more than 15 years, the company's 56,000+ professionals around the globe deliver services to its more than 600 clients from a network of 64 delivery centers across 17 countries supporting more than 30 languages. For more information, visit www.genpact.com. Follow Genpact on Twitter, Facebook and LinkedIn.