McKesson and Genpact Expand Their Relationship to Support McKesson’s Finance Operating Model Optimisation

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Medical staff conduct training on the new Complicated OB Emergency Simulator at Travis Air Force Base, Calif., April 11, 2017. Travis has been selected by the Defense Health Agency as one of five installations within DOD to be a pilot base for the new system. The system will provide a standardized platform for training for all levels of clinical staff to promote standardization on patient safety. (U.S. Air Force photo by Louis Briscese)

SAN FRANCISCO and NEW YORK, January 8, 2019 – McKesson (NYSE: MCK), a leader in healthcare supply chain management solutions and healthcare information technology, and Genpact (NYSE:G), a global professional services firm focused on delivering process transformation, today announced the expansion of their relationship that will advance McKesson’s finance operating model and cost structure vision.

For several years, McKesson and Genpact have been developing innovative solutions to support McKesson’s finance operations. The expanded relationship will accelerate McKesson’s operating model and cost structure program redesign, which will be jointly implemented. McKesson’s vision and operational excellence, combined with Genpact’s deep operations optimisation experience, will simplify and standardise finance processes while deploying leading-edge technologies that will drive improved effectiveness, efficiency and savings.

“The transformation of our operating model and cost structure aligns with our long-term strategy and will lead to more efficient and effective operations to support our growth initiatives and the customers we serve,” said Britt Vitalone, executive vice president and chief financial officer, McKesson. “This partnership, in combination with other finance operating initiatives, will further accelerate our multi-year strategic growth initiative, contributing up to one-quarter of our previously announced annual gross pre-tax savings of $300 million to $400 million, and further position McKesson to meet the challenges facing the healthcare industry.” 

In its expanded work with McKesson, Genpact will leverage digitally-enabled solutions, including the targeted deployment of Artificial Intelligence (AI), machine learning and other advanced technologies to drive innovation, greater effectiveness and efficiencies in McKesson’s Order to Cash, Record to Report, Contract Management, Master Data Management, and Source to Pay processes.

“The healthcare industry is undergoing significant change across the globe, so leading healthcare companies like McKesson need to continue to adapt their operating models,” said Tiger Tyagarajan, president and chief executive officer, Genpact. “We look forward to bringing our digital capabilities and analytics to transform the finance operations across McKesson globally so that they can more nimbly navigate this changing environment.”