Genpact, a global professional services firm, and STADA, a manufacturer of consumer healthcare, generic, and specialty pharma medicines, have announced the renewal of their multi-year partnership. The partnership aims to further streamline, scale, and de-risk STADA’s finance operations, creating competitive advantages.
Sanjiv Tandon, Global Business Unit Leader, Life Sciences and Healthcare at Genpact, said, “This renewal exemplifies our leadership in finance and accounting services. By combining this expertise with our digital leadership and industry knowledge, we will enhance STADA’s decision-making with actionable finance data, automate key F&A processes, and support regulatory compliance – ultimately enabling the company to continuously scale and excel in its industry.”
Since 2019, the partnership has focused on leveraging automation and process harmonisation to improve key financial operations for STADA. Genpact’s implementation of technologies such as Cora APFlow has helped improve accuracy in processes like accounts payable and receivable, while streamlining data transparency. This has allowed STADA’s teams to focus on strategic initiatives that drive business outcomes.
Boris Döbler, Group Chief Financial Officer of STADA, stated, “STADA’s rapid growth and complex operations require a scalable and efficient platform. Our partnership with Genpact has enabled us to create automated processes that handle end-to-end tasks like procure-to-pay and order-to-cash efficiently and cost-effectively. This allows our internal teams to focus on high-value activities. By leveraging data, analytics, and process automation, we’re not only reducing costs but also improving accuracy, quality, and customer satisfaction.”
Genpact has optimised STADA’s finance and procurement processes, from supplier invoicing to financial reporting, using advanced technology and expertise in finance and accounting. Building on this foundation, the companies are now partnering to implement and leverage tools like S4HANA and generative AI to enhance their operations further.