Company’s BPO Arm to Provide Finance & Accounting (F&A) Services to Philips in Brazil, Strengthening the Existing Relationship
Bangalore, India – December 15, 2009
Infosys BPO Ltd., the Business Process Outsourcing subsidiary of Infosys Technologies, today announced its alliance with Philips in Latin America. Infosys BPO continues to drive thought leadership in F&A outsourcing, and this deal is set to reinforce the company’s position.
As a part of the agreement, Infosys BPO will support a range of processes across Brazil, Argentina and Chile in the Procure-to-Pay, Order-to-Cash and Record-to-Report areas such as Accounts Receivable, Intercompany, Foreign Exchange, Local Payments, and Travel and Entertainment Expenses. Infosys BPO will provide language support in English, Portuguese and Spanish. These services will be delivered from the newly inaugurated delivery center in Belo Horizonte, Brazil.
Ronald Eikelenboom, CFO, Philips LATAM said, “The implementation of Infosys in Belo Horizonte marks a new beginning in the relationship between Philips and Infosys in Latin America. The relationship is now truly global since it is the first activity in Brazil serving the rest of Latin America, after having established a relationship in the U.S., Europe and Asia. We share similar beliefs and have entered into this win-win partnership from a greenfield perspective, where the success of Infosys is the success of Philips and vice versa.”
Gautam Thakkar, VP & Head, F&A, Infosys BPO, said, “Our partnership with Philips allows us to provide unique F&A offerings to the Latin American market. The combination of our process capabilities and domain expertise will enable Philips to harmonize its financial processes, improving efficiencies and reducing costs. This deal emphasizes our ability to provide high-end services, strengthening our leadership in the global F&A market. We continue to expand our partnership with Philips in other geographies.”
Puneet Singh Gill, DC Head, Infosys Tecnologia Do Brasil Ltda, added, “This partnership with Philips in Brazil will further strengthen our ability to reach out to the Latin American market, driving our growth in this region. The deal will allow Infosys BPO to provide a professional focus on the transactional processes, allowing Philips to increase its focus on customers and other markets. We look forward to a long-lasting and fulfilling partnership with Philips.”
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified Health and Well-being company, focused on improving people’s lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs more than 118,000 employees in more than 60 countries worldwide. With sales of EUR 26 billion in 2008, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in flat TV, male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter .
Infosys BPO Ltd. (www.infosys.com/bpo), the Business Process Outsourcing subsidiary of Infosys Technologies, was set up in April 2002. Today, it is ranked among the leading BPO companies in India by NASSCOM, Dataquest, the International Association of Outsourcing Professionals, Red Herring, FAO Today, NelsonHall, and others. Infosys BPO focuses on integrated end-to-end outsourcing and delivers transformational benefits to its clients through reduced costs, ongoing productivity improvements, and process re-engineering. Infosys BPO operates in India, the Czech Republic, China, the Philippines, Poland, Thailand, Mexico, and Brazil and employs 16,494 people. It closed FY 2008-09 with revenues of US$ 316.2 million.
Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a Flat World. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, world-class processes, speed of execution, and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 105,000 employees in over 50 offices worldwide. Infosys is part of the NASDAQ-100 Index and The Global Dow. For more information, visit www.infosys.com.
Statements in connection with this release may include forward-looking statements within the meaning of US Securities laws intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks and uncertainties including those described in our SEC filings available at www.sec.gov including our Annual Report on Form 20-F for the year ended March 31, 2009, and our other recent filings, and actual results may differ materially from those projected by forward-looking statements. We may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.
For further information, please contact: PR_Global@infosys.com