Genpact in sourcing pact with GSK

Genpact today announced that it has signed a five-year contract with global pharma major GlaxoSmithKline to provide finance and accounting functions for its US operations.

Genpact, which already has a contract for the GSK's UK-based operations, declined to divulge the size of the deal.

"This agreement marks another milestone in our growing relationship with GlaxoSmithKline worldwide. This development is a testimony to our process excellence and domain expertise, especially in financial services. We look forward to working with GlaxoSmithKline to help drive continuous improvement and productivity for the global healthcare major," said Pramod Bhasin, president and CEO, Genpact.

As part of the deal, Genpact will support the company's US-based accounts payable, fixed assets, general accounting, process planning, travel & expense and business applications support, the company press release said.

GSK will maintain a small workforce to oversee the operations on an ongoing basis, the release said.

The announcement follows the deals that Genpact recently signed with German technology group Linde and Wachovia Corporation and one of the largest bank holding company in US to support their business process outsourcing efforts.