UniCredit and Accenture Team to Enhance and Manage the Bank’s Invoice-Management Processes
Companies create a new joint entity – Accenture Back Office and Administration Services S.p.A. – to support UniCredit’s accounts-receivable, accounts-payable and asset-management functions
MILAN; April 2, 2013 – Accenture (NYSE: ACN) and UniCredit have signed an agreement under which Accenture will help optimize the bank’s invoice management operations, including all activities related to UniCredit’s accounts-receivable, accounts-payable, asset-management and expense-payments functions.
The service will be delivered through a jointly owned entity – named Accenture Back Office and Administration Services S.p.A. – that Accenture and UniCredit have formed to manage, streamline and enhance the bank’s invoice-management processes. These processes were previously managed by the bank’s global service company, UniCredit Business Integrated Solutions S.C.p.A.
The focus of the new entity is to help UniCredit optimize its invoice-management operations through greater process efficiencies, enabling the bank to meet the highest industry standards. Accenture will manage the joint entity, which combines the skilled professionals and processes from UniCredit’s existing invoice-management branch of business with Accenture’s finance and accounting, management consulting and IT capabilities.
The agreement is part of the bank’s broader “Newton” program announced in November 2011, which is designed to transform the bank’s operations for higher efficiencies. A key element of the Newton program is to combine UniCredit’s process expertise and technology assets with those of leading international companies to accelerate its operational transformation.
“This is an important step in our transformation journey and reflects the value we see in using our internal competencies in partnership with leading international companies to innovate and grow,” said Massimo Schiattarella, General Manager of UniCredit Business Integrated Solutions. “By forming this new company with Accenture, we intend to bring new levels of efficiency to our operations, leading-edge support to our internal finance functions, and faster invoice response times to our business partners and clients.”
Roberto Pagella, Managing Director of Accenture’s BPO services in Italy, Greece, Turkey and Eastern Europe, said, “This project represents a key initiative in our longstanding collaboration with UniCredit. Our leading capabilities in business process outsourcing, in finance and accounting and in technology align perfectly with UniCredit’s broader efficiency and innovation objectives and its approach to the new challenges in the market.”
UniCredit is one of Europe’s leading commercial banks with strong roots in 22 European countries. Our network, which is present in roughly 50 markets, includes 9,360 branches and 158,000 employees. The Group operates in the following countries: Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Germany, Italy, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey, Ukraine and Hungary. UniCredit operates through the widest network of banks in Western and Eastern Europe, with over 3.800 branches. http://unicredit.eu/
Accenture is a global management consulting, technology services and outsourcing company, with approximately 261,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$27.9 billion for the fiscal year ended Aug. 31, 2012. Its home page is www.accenture.com
Accenture helps financial services companies enhance the performance of their finance and risk management functions through Accenture Finance and Risk Services, a business service within Accenture’s Financial Services operating group that provides management consulting, technology and outsourcing services to more than 500 institutions worldwide.
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