The US largest drugstore chain Walgreens has announced a 10-year outsourcing deal with Indias BPO provider Genpact. As part of the contract, Walgreens will shift its accounting processes and jobs to Genpact, a move that will involve transfer of at least 500 jobs. This is Genpacts fourth large deal in past three months, signaling a gradual bounce back in the global BPO business market.
We are definitely seeing a comeback with lot many deals in the pipeline of large value. This is also a large contract considering the number of people involved. We will also keep many jobs onshore and still be able to maintain margins, says Genpact president and CEO Pramod Bhasin
Around 500 Walgreens accounting employees in Danville (Illionois) will move on to Genpacts payroll within the next four months, with the remainder staying with Walgreens. Under the deal, Genpact will acquire the Danville facility and maintain or grow employment levels over the duration of the agreement.
The deal will help us improve cost productivity and facilitate our growth strategy, while maintaining an agile and service-focused organisation, said Walgreens executive vice-president and CFO Wade Miquelon. More and more companies are now moving their accounting jobs to India. Agilent Technologies, American Express, Astra Zeneca, United Health are amongst a few of them.
The Genpact-Walgreens agreement will impact accounting staff at its offices in Deerfield, Illinois and surrounding areas, including Danville, Illinois and nine smaller accounting locations across the US.
With this acquisition, Walgreens Danville centre will also become the largest of three delivery centers for Genpact.
We are very excited to have Danville as one of our largest delivery centers in the US. Its a deal with multiple advantages, said Genpact chief operating officer â€˜Tiger Tyagarajan. It will also enable us in providing a range of services for multiple industries, including retail, healthcare and pharmaceuticals from Danville with greater onshore access to our clients.