ACCENTURE SIGNS $185 MILLION DEAL WITH MICROSOFT...Accenture is providing Microsoft Corp. with a range of finance and accounting (F&A) and procurement services under a seven-year, $185 million business process outsourcing (BPO) agreement. The agreement outsources some of Microsofts transactional finance activities and consolidates services currently provided by other vendors. The finance and accounting services Accenture provides cover accounts payable, travel and expense, and record-to-report functions, including fixed assets, general ledger, treasury and statutory reporting. The procurement services Accenture provides include category management and requisition-to-purchase-order processing.
WNS ANNOUNCES EXECUTIVE APPOINTMENTS...WNS (Holdings) Limited announced three senior executive appointments that it says will drive the continued growth and development of the company, including the promotion of Anup Gupta to Group Chief Operating Officer responsible for managing the operating performance of the company; the appointment of Eric Selvadurai as the Managing Director and leader of WNSs European business; and Sulakshana Patankar as the CEO of the newly carved out Finance and Accounting Business Unit. WNS also announced that Zubin Dubash, who has served as Group Chief Financial Officer for the past three years, will be leaving WNS on December 1, 2007, to pursue a career in private equity.
ACCENTURE SIGNS 5-YEAR F&A DEAL WITH BT...Accenture is providing BT with finance and accounting (F&A) services under a five-and-a-half-year business process outsourcing (BPO) contract. Financial details of the agreement were not disclosed. Under the terms of the contract, Accenture is providing services related to management reporting, financial planning and analysis, month-end close activities and budgeting/forecasting to BTs operations, initially focused in the UK. The services are being delivered through Accentures Global Delivery Network using delivery centers in India.
HEWITT ASSOCIATES LAUNCHES DC CONSULTING PRACTICE...Hewitt Associates has formally established a U.S. Defined Contribution (DC) Consulting practice. The newly-formed practice will be composed of a group of experts specifically dedicated to providing companies with a full spectrum of defined contribution services and solutions, including strategy and plan design, cost and risk management, investment consulting, behavioral finance, administration, communication, and legal and compliance consulting.
ADP APPOINTS TWO NEW DIRECTORS...The board of directors of Automatic Data Processing, Inc. has elected Eric C. Fast, 57, and Gregory L. Summe, 50, as directors of the company. Fast is the President and Chief Executive Officer of Crane Co. Summe is the Chairman, Chief Executive Officer and President of PerkinElmer, Inc. These elections increase the size of the companys board to 11 directors.
HEWITT EXTENDS TENDER OFFER...Hewitt Associates, Inc. has extended the expiration date of its offer to purchase up to 15,625,000 shares of its outstanding Class A common stock under its previously announced modified Dutch Auction tender offer. The tender offer, which was originally due to expire at 12:00 midnight, New York City time, on Wednesday, September 5, 2007, is now set to expire at 12:00 midnight, New York City time, on Wednesday, September 12, 2007, unless further extended.
EDS has been awarded a three-year contract to develop the Kentucky Comprehensive Tax System that will automate the Commonwealth's tax administration and collections functions for the Commonwealth of Kentucky's Department of Revenue, Finance and Administration Cabinet. The contract is valued at $33.2 million if two additional option years are exercised.
Kinecta Federal Credit Union has signed a multi-year agreement with Online Resources Corporation, a leading provider of Web-based financial services, for electronic bill payment and other online services. Kinecta, based in Southern California, is the 13th largest credit union in the country, with over $4 billion in assets and more than 200,000 members.
Affiliated Computer Services, Inc. announced contract extensions with the Hawaii Department of Human Services' Med-QUEST Division to continue providing fiscal agent and pharmacy benefits management (PBM) services to the state's Medicaid program. The six-month extensions of the two contracts are valued at a combined $6.4 million. ACS has provided fiscal agent and PBM services to Hawaii's Medicaid program since 2001.
IBM India announced that its Global Delivery Center (GDC) has been appraised at the highest rating -- Level 5 -- for the version 1.2 of Capability Maturity Model Integration (CMMI) framework by the Carnegie Mellon University's Software Engineering Institute (SEI). IBM India GDC is one of the first few organizations in the world of its size and operational complexity to have achieved this impeccable credential.